EnCazip Turkey is an energy company that offers consumers a unique concept in that market, it allows customers to compare tariffs online and switch their electricity supplier in a market where energy de-regulation has just taken hold.
As the first internet-based electricity switching service in Turkey, their goal is to get customers the best deal and save them money.
The company’s shareholders include Andrew Salmon, Vip Amin and George Milford Haven, the founders of uSwitch.com – the leading energy price comparison website in the UK. Having the experienced trio of entrepreneurs as investors has allowed EnCazip to capitalise on their experience of how to run a price comparison website.
EnCazip was founded by Cagada Crimea and Onur Orakçıoğlu. In 2015, they signed a partnership with the UK shareholders, who are based in London, and expanded their portfolio of online businesses to now have a presence in the Turkish market.
The UK entrepreneurs, to date, have invested in comparison sites in 20 countries across three continents, and in working with EnCazip they are able to expand their outreach further.
For Andrew Salmon, and the other investors, EnCazip is a sound investment choice. The company enables users to find the cheapest electricity tariff in their area of residence, allowing them to make savings in the process. Consumer can compare cost of their monthly bills, contract term, view any discounted rates and other information.
This helps consumers get better service from their electricity supplier, but also to command more attractive prices. Consumers can save up to 20% a year on their electricity bills by switching with En Cazip.
The goal is to increase competition within the electricity supplier market in Turkey, which in turn can only benefit consumers.
Despite the political instability in Turkey, investors such as Andrew Salmon, Vip Amin and George of Milford Haven are hedging their bets on the long-term prospects of the operation. There is a strong domestic demand, along with favourable demographics. For companies, such as EnCazip, it’s about looking to the future, and targeting the young population, in order to encourage competition, better prices and more consumer choice.
In helping customers to instantly change their supplier, they are setting about a revolution within the Turkish electricity market. They’re also working to help improve affordability for customers. For many investors, it is about taking a long-term strategic view and understanding that over the next five to 10 years, there will be positive growth in this sector.
There are over 35 million electricity customers in Turkey, so for investors, the potential is significant. Additionally, consumers are becoming more aware of their right to change supplier and are looking to use services such as EnCazip.