British Gas goes a step ahead, expected to invest £100m in customer loyalty schemes

October 10th, 2019

After keeping a hold on the already frozen energy prices and proving its loyalty to its customers, the biggest energy supplier in Britain, British Gas would be pleasing its loyal customers with extra discounts and perks. Sounds like a dream? Well, the supplier has actually planned to make announcement in the month of April to invest £100m in customer loyalty schemes. Under the programme, the company would be offering considerable discounts on energy bills or Sky entertainment packages.

It seems like British Gas is doing everything possible to retain customers and please the government. Recently, the government urged the big suppliers to do something for their loyal customers. It could be anything starting from discounts to perks as most of the sticky customers are on the Standard Variable Tariff, which is the most expensive tariff offered by energy companies. Ofgem had also put pressure on companies to reduce complex tariffs and the latest move by British Gas can create a good impression on the energy regulator.

The company announced this by sending a memo to its staff, which read “We will be giving existing customers strong reasons to stay with us… This reinforces our commitment to listen to our customers and respond to their changing needs.” As the proposed schemes and discounts would have a positive effect on millions of customers, it would help in customer retention. British Gas has around 6.6 million customers on SVT and so, they would be benefitted by the discounts and perks offered by the company.

Most of the Big Six suppliers are at the receiving end of the government’s strict action as Theresa May’s government has warned suppliers of a possible intervention if they continue raising prices or offering tariffs which puts the customers under pressure. Experts suggest the government may take strict measures in spring, when it is going to publish a consumer green paper. The scheme offered by British Gas may help in pacifying the government and save it from compelling action of any kind.

The £100m investment would facilitate discount packages and perks that may not be related to energy only. Mark Hodges, chief executive of Centrica consumer clarified it by saying that “The rewards programme we’re unveiling today is about offering customers more than just energy.” In addition, the company also urges that its current SVT is lower than other big suppliers and the SVT has been just £43 more than the cheapest deal offered by the company.

Shay Ramani, the founder of FreePriceCompare, gave his views by saying that “By making an investment of £100m into customer benefit schemes, British Gas is trying all means for customer retention. It has taken the government’s warning seriously and these programmes would ensure an improvement in its reputation in the long run. By doing this, it can retain more customers that is for sure.”

To conclude, let us hope that the British Gas offers some attractive perks for its customers. This will not only help its loyal customers, but also keeps away other customers from switching to cheaper deals.

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