In 2002, five dynamic individuals decided to leave successful corporate careers and use their skills and knowledge to start a new energy company focused on mid-sized energy consumers. It was a challenging time with the collapse of Enron, which was followed by other major companies failing and a tight credit market. However, these market difficulties also created opportunity.
At that time, natural gas marketing companies were primarily focused on selling to one of two markets:
- Single location, large-volume buyers such as power plants, utilities, automotive plants, steel manufacturers and other Fortune 500 industrial companies.
- Residential consumers adding up to larger aggregate volumes. (This market has now all but disappeared in Ontario).
This left the mid-sized industrial and commercial market underserved. With all the tools of a large producer, GOenergy introduced fair priced gas supply to mid-sized consumers. With the assistance of multiple producers, we have been able to offer a wide range of products and solutions that even the largest suppliers cannot provide. Today we continue to offer flexible products to mid-sized industrial consumers in a liquid and transparent market.
In 2004, we expanded into Quebec. This was a good fit for us as there is a large base of industrial manufacturing and commercial companies in Quebec. Natural gas is also sourced from the same production pools as Ontario (primarily the Western Canadian Sedimentary Basin). Thus we were able to bring the same expertise to the Quebec market.
Soon after, the Ontario electricity market was deregulated and we began to offer electricity supply. There are many differences between the electricity and gas markets. For example, while Ontario has nearly 80 electric utilities, it has just two main gas utilities and a few smaller ones. Nevertheless, electricity is transported and priced with many of the same terms and conditions as natural gas. We are able to offer many different options in an increasingly complex market.
In 2014, our volume increased by over 25% when we entered an agreement to manage the natural gas portfolio for a new partner. Our proven internal processes and well-trained personnel allowed us to easily absorb the increased volume into our systems.
GOenergy currently supplies over 200 businesses. Since inception, we have stayed true to our roots. We have remained focused on companies with energy budgets of $2,000–$200,000 per month. The ever-changing energy market dynamics in Canada have allowed us to be creative and develop products that are unique to the marketplace.
Customer service has always been one of our top priorities, from the friendly voice answering the phone to individual detailed usage information and contract reporting. We are continually improving efficiency and accuracy in everything we do. What was once done with phones, fax machines and spreadsheets, is now done with secure data exchange and sophisticated CRM software. Yet with all the new technology in the energy industry, we understand this is still a relationship-based business.
We pride ourselves on maintaining a family-oriented culture. Employees have been with GOenergy for an average of over 10 years. Industry expertise and our internal processes are shared throughout the organization. Our sales people focus on doing what’s in the best interest of our customers while developing long-term relationships that provide lasting value.
Each year we close the office for a day and work as a group at a local volunteer organization. In the past, we have helped out at the Food Bank, Habitat for Humanity and St John’s Kitchen.
Our head office has always been at the same location in Waterloo, with a major renovation occurring in 2015.
Stay tuned for the next stage of our company’s growth as we enter the digital arena. We look forward to being your source for natural gas and electricity information in Ontario, and to helping you overcome any obstacles you have in your energy purchasing.
