Marks & Spencer is dropping the 'big six' energy firms and instead partnering with a challenger provider to deliver its consumer energy offering.
The retailer has announced a partnership with Octopus Energy to supply energy services under the M&S Energy brand. It said the collaboration would offer customers a “compelling and competitive” alternative to the larger energy suppliers.
The partnership was the result of an “extensive tender process” and the retailer hopes the move will help it create a “more progressive, digital and commercial” consumer energy service.
M&S used the announcement to hit out at the big six providers – made up of British Gas, EDF, E.ON, Npower, SSE and Scottish Power – for unfair pricing policies.
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’s values of responsible and transparent pricing and digital-first customer service mirror our ambitions for the business… 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.”
As well as being a large investor in solar energy and other renewables, Octopus will also bring a cloud-based billing and customer interface to M&S’s consumer energy offering.
M&S had already announced the end of its nine year relationship with the SSE when its current contract runs out at the end of September.
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