M&S to expand into power market

Wed Oct 15, 2008 9:05am BST

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LONDON (Reuters) - Retailer Marks & Spencer (MKS.L) said on Wednesday it is preparing to expand into the household gas and electricity supply market following a partnership with utility Scottish & Southern Energy (SSE.L).

"Marks and Spencer has partnered with Scottish and Southern Energy ... providing electricity and gas to your home," the high street giant said on a new Website marked 'coming soon.'

A report in The Guardian newspaper said M&S shoppers would be able to buy power in stores and on-line, and would pay the same as SSE customers who take both gas and electricity via direct debit payments.

The company, which is facing increasingly tough market conditions, is expanding its offering beyond its core clothes and food ranges.

SSE is one of six major power suppliers in the UK, alongside British Gas-owner Centrica (CNA.L), RWE-owned nPower (RWEG.DE), E.ON UK (EONGn.DE), Iberdrola-owned Scottish Power (IBLA.MC) and EDF Energy (EDF.PA).

(Reporting by John Bowker; Editing by Gary Hill)

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