M&S has announced it will close its energy business, with customers switched to Octopus Energy.

The energy arm of the high street giant serves around 60,000 customers.

ELN understands that following a strategic review, M&S decided that its own energy business was no longer a priority.

In a short message posted on its website, M&S Energy stated: “A bright future ahead with Octopus Energy.

“From 1st April 2023, M&S Energy will become Octopus Energy. All our customers will continue to receive honest pricing, 100% renewable energy and outstanding customer service, however, we are not accepting new customers at this time.”

Kirsty Ward, Director of M&S Connect, said: “We want to simplify our services offering and focus on serving our customers brilliantly and giving them more reasons to shop with us.

“As a result, we have decided to step back from providing energy and ultimately, our partnership with Octopus Energy. All existing M&S Energy customers have already been contacted and there is no action required from them.

“There will be no disruption for these customers, they will remain on the same rates and will continue to be looked after by the same Which? recommended team at Octopus Energy.”

An Octopus Energy spokesperson told ELN: “Over the last five years M&S Energy, powered by Octopus Energy, grew to serve around 60,000 customers, all while maintaining five-star customer service ratings on Trustpilot.

“As a result of M&S exiting their energy supply business to simplify their services, all M&S Energy customers are now switching over to Octopus, where they will enjoy the same rates and world-class customer service as before. Customers don’t need to worry or take any action.

“There will be a smooth transition and no disruption to their supply and customers have already been contacted about the next steps.”

ELN has approached Ofgem for comment.