Connect with us

Money

EDF and Npower might launch reward schemes to help millions of loyal energy customers

TWOof the UKs biggest energy companies are considering loyalty programmes for customers as part of efforts to help those on the most expensive tariffs.

Npower and EDF Energy toldMPs that they were considering starting reward programmes to help customers who stay with them.

The move would help millions of customers who currently overpay for gas and electricity

The move is aimed at helping the 10 million customers currently paying too much for energy who arent keen on switching.

Simon Stacey, managing director of domestic markets for Npower, told MPs the company had trialled free boiler servicing for standard customers.

He said: We want to try and reward customers in a way they wouldnt expect.

EDF Energys residential sales director Dan Hopcroft confirmed the supplier was also looking at loyalty schemes.



An EDF spokeswoman said the company was looking at the possibility of loyalty programmes but there were no details at this stage.

The hearing invited industry experts to give evidence on the Competition and Markets Authoritys (CMA) remedies following its findings that up to 10 million customers have been on the most expensive standard tariffs for at least three years.

CMA project director Simeon Thornton told MPs that 56 per cent of consumers have never switched supplier or do not know if they have.

First Utility, which also gave evidence at the hearing, said the CMAs remedies mainly helped those already engaged with the market, but not the millions on Big Six standard variable tariffs.

First Utility UK managing director Ed Kamm said: Unless the unilateral market power of the Big Six is tackled properly, all chances of achieving a fair and balanced market that works for both customers and suppliers alike will continue to be eroded.

We have the chance to get the balance of the market right now, before millions of customers are ripped off even further. Weve wasted enough time fiddling round the edges, its about time we had bold action to fix this market once and for all.


We pay for your stories! Do you have a story for The Sun Online news team? Email us at tips@the-sun.co.uk or call 0207 782 4368


Click to comment

Leave a Reply

Advertisement

Must See

Advertisement

More in Money