US Opower moves to help UK

Opower, a US energy efficiency company believed to be worth up to $1bn, has started its expansion into Europe with a new London-based boss.

The group, which helps consumers compare their energy usage to their neighbours’ as an incentive to keep costs down, has hired Nandini Basuthakur of the New York-listed Corporate Executive Board Company to lead its European charge.

Opower is currently looking for office space in London – it recently signed its first European deal with First Utility in the UK. Both Barack Obama and David Cameron are fans of Opower.

Opower is in talks to sign deals with other UK and European utilities next year, and to be seen as helping customers trim bills at a time of rising energy prices.

Opower’s president, Alex Laskey, said: “Having spent much of the past several months in the UK, I’m confident energy suppliers know they need to change.”