Sian Jones, Chief Executive Officer of Correla, said “As Xoserve, we have been the leading technology and data services company in the gas market for over 15 years; ensuring that terabytes of data flow seamlessly between gas consumers and gas networks. There is an incredible task ahead for the UK to meet its decarbonisation targets and we are committed to supporting our customers every step of the way – we are proud to be on this journey with them. Our acquisition by NorthEdge is critical to realising our vision and the development of new products, services and technologies which will be at the forefront of the energy industry and shaping its future."
Andrew Skinner, Director and Head of the Midlands at NorthEdge, said: “Correla is already an integral service partner to stakeholders in the UK gas network, and we’re excited to support the team to enhance that performance. We have been investing in the energy and utilities sector for more than 10 years, and therefore understand first-hand how data has transformed the market and the role it will play in the transition to net zero. We believe that our experience of the sector, alongside our regional approach and investment style means that we are uniquely placed to meet the requirements of Correla.
“We are extremely pleased to have Correla join our growing portfolio and look forward to working with Sian and the rest of the Correla management team to grow the business together - investing in people, products and innovation."
Correla is very excited to work with NorthEdge and we look forward to sharing more with you about our journey.
In 2017 Xoserve embarked on a new strategy, motivated by the realisation that the energy market was facing into a period of unprecedented transformation and every company with relevant skills and experience needed to change and innovate.
With an incredible depth of experience and technology; Xoserve started their journey to unlock the value of their assets for the benefit of the whole market. Limited by the funding and governance model which underpinned Xoserve’s role as the Central Data Service Provider (CDSP) and reducing the value it could provide, Xoserve separated into two companies in April 2021.
Correla was created, as an independently owned business in order to bring in private investment to fuel innovation in the centre of the gas market and beyond. We deliver services back to Xoserve through a commercial contract. This contract embraces existing commitments, including the passion and drive to deliver outstanding customer service, whilst adding the flexibility to deliver new products and services.
Xoserve became a specialised contract management and assurance company, retaining its role as the CDSP and accountability for the Data Services Contract (DSC).
We pride ourselves in helping customers navigate complexity and this is best evidenced by the rate at which we have improved our customers’ experience of CDSP services over the last 3 years and the new products we have launched. We started to independently benchmark our customer experience via the Institute of Customer Service UKCSI index in 2018. Since then, we have improved our position on the UKCSI (UK Customer Service Index) by 12 points, our Net promoter Score (NPS) by 66 points and reduced Customer Effort (CE) by 30%. This has led to us being recognised in 2021 as one of the most improved utilities service providers in the UK, which is an achievement we are immensely proud of and sets us up to achieve our ultimate goal of being No.1 in the utilities sector.
Correla is derived from correlation, because we are all about exploring and enhancing relationships between data, people and processes. The energy market can get complicated and our experience over the last 15+ years leads us to want to wage a war on that complexity, by developing innovative new products and services that make it much easier to participate in the market. When it’s easier to get things done, everyone has more time to focus on innovation.
Correla is a product-oriented technology and data services company, which means we like running your services for you, but mainly because this gives us the inspiration and know how to build new products and services that automate activity and make it easier to interact with the service. Basically, we like taking on complexity, so we can invest in making it simple.
Correla’s expertise in processing, visualising and interpretating data has led us to launch the Data Discovery Platform (DDP), which allows users to visualise the gas market in a way that enables rapid decision making and effective management of portfolios over time. The DDP puts us in a unique position to support the energy industry in its decarbonisation agenda. We are proud of the role we are going to play in the UK transition to green fuels and ultimately becoming net zero by 2050.
We are in the process of launching our Data Flow Platform (DFP) and our first live flow will be switching, where we will enable customers across the gas and electricity markets to connect into the new Central Switching Service being created under Ofgem’s sponsorship. We will rapidly build out more flows thereafter until Correla’s Data Flow Platform has truly delivered on our corporate mission to liberate customers from complexity, so innovation can thrive.