Energy Solutions Group (ESG) had an outstanding success with this approach in Denmark. They recently purchased CUBS, the largest provider of cloud-based billing solutions for energy retailers. This strategic move happened on or before April 30, 2025. It ensures that ESG will bring the best-in-class innovative tools and technology to enable Danish energy retailers capture greater market share and become stronger competitors.
CUBS, well-regarded internationally for their powerful billing solutions, support about 30% of Denmark’s electricity retailers. And their cloud-based system makes it easy to scale. Throughout the value chain, it empowers energy producers with powerful tools to cut costs and operate more effectively. This acquisition deepens and broadens ESG’s unique offerings, while positioning ESG to meet the rapidly changing needs of the Danish energy market.
Matthew Hirst, CEO of ESG, called the move transformative. He stated, “Our mission-critical software solutions are integral to the energy ecosystem. Leveraging our extensive market and technology expertise, we empower energy retailers and producers to thrive in today’s dynamic environment.” Through our ESG, we’re committed to providing energy companies with the essential tools to create a culture of safety. These investments allow them to innovate and pivot within a quickly evolving environment.
Diving against the current
Denmark’s energy sector is quickly electrifying. This transition is dramatically transforming the business case to utility companies and energy retailers. As Peter Ulka, CEO of CUBS, noted, “The accelerated electrification of Danish society has fundamentally reshaped the business needs of utility companies and energy retailers, challenging them to introduce new products and services in order to retain customers, drive growth and increase market share.”
With this acquisition, ESG wants to help Danish energy retailers to meet these challenges in the best possible way. ESG strengthens its service offerings by adding CUBS’ cutting-edge billing solutions to its service offerings. This gives ESG the flexibility to provide customized assistance to enterprising energy companies looking to diversify their business models and reach new customers.