Marks & Spencer ramps up digital transformation with Octopus Energy deal

The retailer said industry disruptor Octopus will supply energy and services under the M&S Energy brand from September.

It comes a week after M&S’s deal with big six member SSE came to an end.

M&S said the deal will “shake up” the energy market and challenge the big six firms including SSE with “a compelling and competitive customer proposition”.

It aims to bring an end to what it dubbed “tease and squeeze” pricing policies and said it will introduce “digital-first services that put the customer back in control”, including a cloud-based billing system. 

The deal comes at what M&S called “a time of critical transformation” for the wider business.

The high street stalwart is restructuring to be fit for the multichannel age and aims to make a third of its sales online.

It has penned partnerships with the likes of Microsoft as part of its drive to embrace the digital shift that has gripped retail.

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.

“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.”

Octopus Energy boss Greg Jackson added: “M&S’s choice of Octopus for this vital service is a great vote of confidence in our vision for energy. Fair pricing without annual switching, renewable electricity and incredible customer service.

“M&S will be using the digital technology we’ve built, enabling dramatically better customer experience online, and helping drive the M&S digitisation strategy.”