Feb 05, 2017 07:16 PM EST
Two of the Big Six energy suppliers are considering introducing a loyalty programme to improve the extra expense of standard tariffs. The purpose is to help 10 million customers currently paying too much for energy but who do not want to switch.
Npower and EDF Energy told MPs they were considering reward programmes to help customers who stay with them. According to Npower, it could include a free boiler service for such customers. It follows pressure from the Business Secretary, Greg Clark, who told MPs on the Business and Energy Committee that clients who had been on standard variable tariffs for a long time should be rewarded.
Simon Stacey, an Npower executive, stated that his company was now actively looking at the idea and declared that his firm could provide its standard customers with a free boiler service, and that they've done a trial of that, to see whether it resonated with clients.
Dan Hopcroft, the residential sales director of EDF energy, declared he was looking at a loyalty proposition. The Competition and Markets Authority (CMA) stated that up to 10 million customers have been on expensive standard tariffs for no less than three years.
Simeon Thornton, project director at the CMA, told the MPs that 56 percent of consumers have never switched supplier, or don't know if they have. Earlier this week the regulator, Ofgem, declared that it was going to start trials to see if there are more effective ways of persuading people to change supplier.
The energy trials are likely to start later this year, and they could involve tens of thousands of consumers. At the moment, the suppliers have to show their own cheapest tariff on bills, but not those of the rivals.
The French luxury group gains full control of the 70-year-old Parisian fashion house Christian Dior in a mammoth deal worth around €12.1 billion.
UK luxury fashion retailer Burberry posts lackluster set of results for its second half following an impressive result in the third quarter, a retail analyst stated.
What seemed like a perfect hacking operation turned out to be a failure as Kaspersky has spotted a mistake on the part of the Lazarus hackers. It found a brief connection that came from North Korea - proving their identity and origin.
A lawsuit has been filed by a Democratic political consultant and Fox News contributor on Monday alleging, among others, that Roger Ailes denied her of a permanent hosting job after she turned down his sexual advances.
South African leader, Jacob Zuma, has sacked finance minister Pravin Gordhan in a move that drove the country's currency down five percent in value. The president calls for a midnight reshuffle in his Treasury members who he felt were disloyal to his political intentions.
The US president has long promoted a change on how foreign businesses should run their operations - and that is to revive American manufacturing. Uniqlo head showed he didn't like being given an ultimatum by Trump.
Cemex, one of the world's largest cement producers, has not participated in the first round of bids that is currently underway but said it is open to providing quotes to supply the raw materials for Trump's promised border wall.
Arket, which means 'sheet of paper' in Swedish, will cater to a modern-day market with products for men, women, children and the home.
Amazon was one of the leaders in keeping online purchases tax-free. As the company moves to offer faster deliveries, it expanded its distribution centers and started collecting sales tax in more states.