[citation needed] Energia was founded in 1999 and became the first independent supplier in Northern Ireland.

By 2003, Energia had established itself as Ireland's leading independent energy business supplying over 30% of large industrial electricity requirements.

Formerly a vertically integrated monopoly, NIE's power stations were demerged and sold prior to privatisation.

On 6 October 2006 Viridian's board agreed the acquisition of the group by ElectricInvest, a company owned by the international investment firm Arcapita.

[citation needed] On 6 July 2010, Viridian agreed to sell Northern Ireland Electricity - including NIE Powerteam, but excluding NIE Energy - to the Electricity Supply Board in the Republic of Ireland.