16 October 2008
High street retailer Marks & Spencer has made a move into the gas and electricity market and will soon be offering energy tariffs to consumers. Under a deal with Scottish & Southern Energy, the company has launched M&S Energy. Standard dual fuel tariffs will cost around £1,196 a year - the same as those offered by Scottish & Southern. Customers who manage to reduce their energy usage will be offered M&S vouchers to spend in the retailer's stores. Vouchers will also be given to those who opt for paperless statements. A spokesman for Scottish & Southern said the deal provided the gas and electricity provider with a way of reaching new customers. "It's the strength of the M&S brand which enables us to sell to customers we might not be able to get to," Justyn Smith told the Press Association. Figures released by the Office for National Statistics this week revealed that the soaring cost of gas and electricity had been responsible for pushing up inflation.