Mytilineos’ Watt+Volt purchase signals start of takeovers

Vertically integrated Mytilineos’ acquisition of energy retailer Watt+Volt, a move that was announced yesterday and which takes the buyer’s electricity market share close to double digit figures, is seen as the beginning of a series of upcoming takeovers in the retail electricity and gas markets as survival conditions for players become more challenging.

In taking over Watt+Volt, Mytilineos, the market leader among the country’s vertically integrated energy groups, has added to its portfolio the biggest and most robust of the market’s non-vertically integrated players.

Mytilineos, represented by Protergia in the retail energy market, has now increased its market share to nearly 10 percent. Its customers total 550,000 and the company controls nearly 100 outlets.

In addition, the acquisition bolsters Mytilineos’ market presence in the electromobility market to 516 charging stations around the country.