As part of its partnership with green energy supplier Octopus, M&S provides its customers with 100% renewable electricity. All the electricity used by its customers is matched with power generated from renewable sources including solar and wind power.
Before 2018, M&S Energy was run in partnership with big six provider SSE for nine years.
Like most UK energy suppliers, M&S Energy tariffs are subject to Ofgem's energy price cap, which sets the maximum rate suppliers can charge for average usage on their standard variable tariffs. The cap was set at its highest ever level of £1,971 in February 2022, which came into effect in April. M&S therefore set its SVT rate at £1,968.93, the same as Octopus.
In February 2021, Ofgem announced it would be increasing the price cap by 9% from April 2021. In reaction to this, M&S Energy prices were increased by 8% on the supplier's M&S Everyday Energy tariff. This translates to a £78 price rise for customers on this tariff. However, M&S Energy prices were kept lower than the new £1,138 price cap, with a new average price of £1,087.
The energy market is challenging and unpredictable at the moment and there is a certain level of risk to some suppliers - find out why in our energy market Q&A guide.
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