EDF and Npower might launch reward schemes to help millions of loyal energy customers
The new schemes are aimed at helping the 10 million households who've never switched supplier
TWO of the UK's 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 told MPs that they were considering starting reward programmes to help customers who stay with them.
The move is aimed at helping the 10 million customers currently paying too much for energy who aren't 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 wouldn't expect."
EDF Energy's residential sales director Dan Hopcroft confirmed the supplier was also looking at loyalty schemes.
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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 Authority's (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.
HOW TO FIND A CHEAPER ENERGY DEAL
FIRSTLY, you'll need to have a recent bill to hand.
This will have all the details you need, including the name of your tariff and your recent spending on gas and electricity.
Use a comparison website like uSwitch.com or Energyhelpline.com. Other services like MoneySavingExpert’s Cheap Energy Club will let you set up an email reminder that will alert you when cheaper deals become available.
Compare prices and before you switch check with a cashback website, like Quidco or TopCashback, to see if there’s a deal you can use to increase your savings
First Utility, which also gave evidence at the hearing, said the CMA's 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. We've wasted enough time fiddling round the edges, it's about time we had bold action to fix this market once and for all."
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