A Brief History of ES Power
ES Power, now known as ES Living, emerged as a pioneering force in Singapore’s electricity retailing landscape under the umbrella of Environmental Solutions (Asia) Pte. Ltd. Established in 2016, ES Power disrupted the traditional electricity market by becoming the first provider in Singapore to introduce a comprehensive carbon offset program for its customers. This innovative approach showcased their commitment to environmental responsibility and sustainability.
The cornerstone of ES Power’s carbon offset initiative revolves around the utilization of carbon credits. By offering carbon offsets, ES Power enabled its customers to balance their carbon footprint associated with electricity consumption. These carbon credits were then invested in various non-renewable energy projects worldwide, particularly in developing nations. This novel concept aimed to mitigate environmental impact and promote cleaner energy practices.
Originally conceived as ES Power, the company has transitioned into ES Living, redirecting its focus toward environmental attributes and broader sustainability goals. This rebranding aligns with the company’s commitment to fostering environmentally conscious choices within the realm of energy consumption.
Environmental Solutions (Asia) Pte. Ltd., the driving force behind ES Power’s inception, has a history rooted in resource sustainability. Founded in 1999, the company has centered its operations on extracting base and precious metals from spent resources, offering an eco-friendly alternative to traditional mining practices.
ES Power received a retail electricity license from the Energy Market Authority (EMA) in 2016, allowing it to provide electricity services to consumers in Singapore’s open market. This marked a significant shift from the previous model where consumers were obligated to purchase electricity exclusively from SP Services (SPS). The introduction of competitors like ES Power was part of EMA’s progressive efforts to empower consumers with choices for managing their electricity costs.
However, in June 2019, a significant development occurred when iSwitch acquired all of ES Power’s contracts for a sum of S$15 million. This transition marked a turning point in the journey of ES Power, as it paved the way for iSwitch to continue building on the groundwork laid by ES Power in the realm of sustainable and customer-centric electricity solutions.
In conclusion, ES Power, now operating as ES Living, made remarkable strides in transforming Singapore’s electricity landscape by introducing innovative carbon offset practices. Its rebranding reflects a continued commitment to fostering environmentally conscious choices in energy consumption, while its transition of contracts to iSwitch underlines the dynamism of the electricity market and the evolution of sustainable energy solutions.