Disrupting the Traditional Energy Market
- Marks & Spencer partners with Octopus Energy for energy supply
- New partnership to challenge ‘Big 6’ providers
- Digital-first customer service and fair pricing
- Replacement of previous SSE contract
- Five-year transformation plan for M&S Energy
Marks & Spencer (M&S) has announced a strategic partnership with Octopus Energy to supply energy and services under the M&S Energy brand from September 2018. This collaboration is part of M&S’s five-year transformation plan, replacing its previous partner SSE after nine years. The new partnership aims to challenge the ‘Big 6’ energy providers by introducing a digital-first customer service and fair pricing model, disrupting traditional ‘tease and squeeze’ policies. Octopus Energy will leverage its digital technology to enhance M&S’s digitisation strategy.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the new partnership between Marks & Spencer and Octopus Energy, their goals for the collaboration, and quotes from key figures involved in the decision-making process.
Noise Level: 3
Noise Justification: The article provides relevant information about a strategic partnership between Marks & Spencer and Octopus Energy, with clear goals and benefits for both parties. It also includes quotes from key figures involved in the partnership. However, it lacks in-depth analysis or exploration of long-term trends or consequences of this decision.
Financial Relevance: Yes
Financial Markets Impacted: Marks & Spencer and Octopus Energy
Financial Rating Justification: The article discusses a strategic partnership between Marks & Spencer and Octopus Energy, which will impact the energy supply market and potentially affect financial performance of both companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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