M+S launch energy joint venture

Published:

15 October 2008

Topic:

News,Gas & Electricity

Shoppers in the UK will soon have an even wider choice of gas and electricity suppliers after high street giant Marks & Spencer announced it was entering the market.

Customers will be given M&S store vouchers for their loyalty and as incentives to encourage them to cut energy use. SSE hopes that teaming up with the retailer will provide access to new customers.

The venture will charge an average £1,196 per year for the standard "dual fuel" tariff bill (including VAT) - the same as it costs SSE customers.

The electricity used by M&S Energy customers will be secured by SSE from large-scale hydro sources in Scotland.

Users who reduce annual energy usage by 10% in the first year will get a £15 M&S voucher and those who choose paperless billing will receive an additional £10 voucher.

Dual fuel customers switching to M&S Energy will also get a £20 Marks & Spencer voucher on signing up and a further £10 voucher for each year they stay with the supplier.

M&S Energy launches in 16 M&S stores and online on October 27. It will be extended to 62 stores nationwide by the end of November.

Scott Byrom, utilities manager at moneysupermarket.com said, "M&S is a trusted brand and is offering vouchers for people to switch. But consumers need to think past the incentive and about real savings.

"Standard rates tend to be the most expensive and least competitive, while online deals are the cheapest around and fixed rates offer peace of mind."

Related Links

• Compare tariffs from UK gas and electricity providers

Email a Friend

Let a friend know about this news item with an email containing a link to this page, and a customised message.

Your name: *

Your email address: *

Your friend's name: *

Your friend's email address: *

A message to include (up to 800 characters):

 

Enter the code above:

 *

This helps us prevent automated programs from using and slowing down our services.