Andrew Salmon is a British entrepreneur and businessman who is well known as the ex-CEO of uSwitch.com, from its inception in 2000 up until 2008. The business was sold to E.W. Scripps for £210 million in 2006. Having been involved in the management of various successful businesses, his career in online business was initiated at uSwitch.com, which proved to be a pioneering force in the UK market.
Carrying a solid finance background, Andrew Salmon gained experience in the energy sector as the Commercial Manager of London Electricity, where he helped prepare the company for the deregulated gas market. He would also hold a position as corporate finance manager for PriceWaterhouseCoopers, as well as key positions at EDF Energy and government regulator Ofgem, giving him experience that would help to form uSwitch.com in later years.
Andrew Salmon’s wealth of experience in the energy sector has taken him around the world, including work for the Israeli government on developmental support for their new gas industry, and as a financial advisor to the Kazakhstan government on privatising their National Electricity Transmission Company. He also worked in Spain with Gas Natural, providing strategic advice on improving competition in the country while integrating government partnership.
The founding and success of uSwitch.com
Andrew Salmon’s work in the energy sector combined with his finance and economics insight, along with Lord Milford Haven financial backing, resulted in the creation of uSwitch.com. Online price comparison was a revolutionary idea at the time, launching soon after the UK’s gas and electricity markets were deregulated and consequently opening the industry to a high level of competition that had not been seen before.
Through uSwitch.com, Andrew Salmon carried out a mission to give power back to the consumer and to offer more complete information about the products available to them. This came when the internet was still a novel and rapidly growing phenomenon. Following its initial success uSwitch.com expanded its remit to communications and telephony comparison.
A trend setter from the outset, uSwitch.com is still one of the UK’s leading price comparison websites today, and now offers both an online and phone-based service helping consumers to compare prices on gas, electricity, water, landline, heating cover, broadband, car insurance, and personal finance among other services.
The sale of uSwitch.com
Andrew Salmon served at uSwitch.com as Chief Executive Officer until 2008, two years after its sale to US-based media conglomerate, E.W. Scripps Company. This sale smashed the record for the largest internet deal in the UK with its £210 million price tag, fetching more than double the fee that many market observers expected it to.
In 2016, Andrew Salmon took uSwitch’s business model across to Turkey, becoming involved with the Turkish web company EnCazip — one of Turkey’s most rapidly growing price comparison sites, which offers a similar service to the one provided by uSwitch.com, with a focus on energy price comparison. The aim is to transfer uSwitch’s success to the Turkish market, by giving suppliers a strong incentive to keep costs down and offer better customer service.
The investors who have joined Andrew Salmon include former uSwitch.com business partner, Lord Milford Haven, as well as Vipul Amin who is the director of another price comparison website, MyUtilityGenius. As energy deregulation begins to take hold in Turkey, EnCazip offers the chance for consumers to compare tariffs online and switch their supplier.
It’s currently one of Turkey’s fastest-growing price comparison websites and stands at the forefront of the price comparison concept’s arrival in Turkey as the country progresses from a smaller economy into an emerging international market