FDs head an energy revolution

Finance directors across industry are urging their companies to enter the deregulated gas and electricity markets to achieve massive savings.

A PricewaterhouseCoopers report on electricity deregulation reveals that major finance and retail companies are planning to enter the market.

The report added that 55% of electricity customers said they were open to the idea of switching providers.

Murray MacFarlane, a PwC energy partner, said: ‘Some organisations with powerful “household base” brands are already developing alliances and partnerships, announcing reduced electricity prices for customers, employees and members signing up with particular Public Electricity Supply companies.’

MacFarlane said company FDs would soon have the choice of buying from one supplier or ringing around to get the best deals.

‘We’re on the verge of a huge energy revolution,’ he said. But he added that this will depend on customers gaining access to changing energy prices on the Internet.

According to the report, three respondents from the retail, energy and financial services sector are aiming for one million customers within four years of entering the market.

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