THE boss of Spark Energy believes his firm can continue to grow despite an arm of the business being forced to cease trading last week.

Staff at the Selkirk-based energy supplier had been left worrying about their jobs after the company's supply licence was revoked due to the non-payment of a £14 million non-renewable charge.

But talks between bosses of Bristol-based energy supplier OVO and Spark regarding a takeover had thrown a lifeline.

And an announcement yesterday afternoon by Ofgem to award the contract for supplying Spark's 290,000 customers to OVO has all but secured the long-term futures of the 400-strong Selkirk workforce.

Spark boss Chris Gauld believes his company can continue growing under the OVO umbrella.

He said: "This is great news.

"It means Spark becomes part of a very successful large independent energy supplier.

"We will service our customers, under OVO’s licence, from our existing offices, and continue to grow our niche model of partnering with leading letting and estate agent companies.

“I’m delighted that we can continue to grow as part of the OVO family with a renewed confidence in the future despite the challenges the sector is facing.”

An announcement from OVO, after being awarded the contract for supplying Spark's customers, stated that they are committed to retaining all of Spark's employees in its Selkirk, Edinburgh and Horsham offices.

Stephen Fitzpatrick, CEO and founder of OVO, told the Border Telegraph: "The energy sector is going through a major change and many companies, big and small, are struggling to adapt.

"We are are delighted to have been able to bring Spark into the OVO Energy Group, securing a good outcome for their customers and the team.

"We will combine OVO’s innovative technology and focus on customer experience with Spark’s unique network of partnerships to bring greater products and services to more households around the UK.”

The contract award and takeover have been welcomed locally and nationally by politicians.

Rural Economy Secretary Fergus Ewing told us: "My priority as Rural Economy Secretary has been to explore all options and engage with all interested and involved parties to do everything possible to secure these jobs.

"The significance of the Spark workforce to the Selkirk and wider borders area is huge and that is why the Scottish Government has been working tirelessly with Spark Energy and others in recent weeks to try to find the best resolution possible, during a period of great worry and uncertainty for those workers and their families.

"I am hopeful that this outcome will mean the retention of the vast majority of the jobs.

"I will continue to do all I can to safeguard those jobs and will be looking to engage with OVO Energy at the earliest opportunity."