Cheaper tariffs for M&S Energy customers
The retailer has dropped SSE as supplier of gas and electricity for its M&S Energy brand and teamed up with challenger Octopus to launch a “compelling and competitive” customer proposition from September.
No detail of tariff prices have been released yet but M&S has said it will not use punitive ‘tease and squeeze’ pricing policies where new customers receive cheaper rates, subsidised by loyal customers.
M&S said Octopus’s digital-first approach to billing and customer service will give their customers direct control over their account.
Jonathan Hazeldine, head of M&S Energy, said: “As we continue to transform M&S we have chosen Octopus as a new strategic partner for M&S Energy. Octopus’ values of responsible and transparent pricing and digital-first customer service mirror our ambitions for the business.
“Together, we can challenge the traditional energy market and bring green energy to millions of households at a competitive and fair price. We believe they are the best partner to help transform and grow M&S Energy into a digital, progressive and commercially competitive arm of M&S.”
The Big 6 energy firms – EDF, E.ON, British Gas, SSE, Npower and Scottish Power – dominate the market but have faced criticism for hiking prices.
However, according to Energy UK, 481,677 customers switched electricity supplier in June with nearly half moving from a large to small or mid-tier provider.