Energy concern Essent has signed a contract worth around €135m to supply electricity to the Kollo Silicon Carbide factory in Delfzijl, reports today’s Financieele Dagblad.

The deal is for a total of three million megawatt hours from 2008 to 2018 – equivalent to the annual power consumption of one million household.
According to Richard Schmölzer, director of subsidiary Kollo Energie, the agreement is unusual in that electricity will only be delivered when prices are low and in this way will save the company millions of euros.
The factory will shift its production to the hours when power prices are low, mainly nights and weekends, but also cheaper peak hours.
“We talked to three power suppliers but Essent offered us the most flexible solution,” Schmölzer told the paper.