Engie, the French utility company, has shrugged off concerns over political interference in the UK energy market to offer a consumer power service in Britain. It officially launched the service in London on Thursday, just three days after the ruling Conservative party confirmed it would introduce a price cap on energy bills if it wins the general election. The opposition Labour party is also proposing to impose an “immediate emergency price cap” to protect consumers, and the share prices of Britain’s largest listed power suppliers have come under pressure. Engie is aiming to distance itself from its new rivals in the UK by promising to switch customers automatically to its cheapest deals for gas and electricity when their initial fixed price energy contracts come to an end.
FT 11th May 2017 read more »
Engie yesterday threw down the gauntlet to Britain’s Big Six energy suppliers by slashing the cost of its cheapest deal and launching a range of smart home technology products. The French energy group shrugged off political threats of price caps to become the biggest new entrant since the Big Six were established in their current ownership more than 15 years ago. Engie, which The Times revealed had begun signing up customers in a “soft launch” at the start of the year, has reduced the price of its cheapest tariff from £932 to just under £880 a year.
Times 12th May 2017 read more »