A BIG energy brand that supplies 60,000 customers with gas and electricity is to shut within weeks.
Marks and Spencer set up the M&S Energy brand as part of a partnership with Octopus Energy in 2018.
It has over 60,000 customers and while energy has been supplied by Octopus Energy, it has unique tariffs which were only available to those who were M&S Energy customers.
Now, following a strategic review, M&S has revealed plans to step-away from the energy market.
Kirsty Ward, M&S Connect director said: "We want to simplify our services offering and focus on serving our customers brilliantly and giving them more reasons to shop with us.
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"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."
M&S Energy customers will not be negatively impacted by the change as accounts will now be managed by Octopus Energy directly.
The news comes after M&S Energy released a statement on its website which read: "From April 1 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're not accepting new customers at this time."
If you're an existing customer and have a question about your M&S Energy account you'll need to email hello@mandsenergy.com.
Alternatively, you can call 08081 697 822 if you need to speak to the customer services team directly.
Should you switch?
Customers don't need to switch as they shouldn't pay more.
Essentially, M&S is closing its energy brand down but the energy will still be supplied by Octopus.
It is not going bust and there is no need for concern.
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At present, due to the energy price guarantee there is no benefit to switching.
But customers should regularly review this, as bills could start to come down later this summer.
What else is happening in the energy industry?
Last month, Shell said it was reviewing its household supply business, which serves 1.4million UK households.
Wholesale gas prices rose by 250% in 2021, creating a strain on the UK energy industry.
This has led to a number of energy firms going bust.
Bulb fell into administration in November 2021, leaving 1.5million customers in limbo as the government was forced to step in and bail it out.
But Octopus Energy has since taken over Bulb's customer base.
In total, 28 smaller energy suppliers collapsed between January and December 2021.
Utility Point and People's Energy were two of the first to fold, along with a host of other small providers who met the same fate.
Small energy firms Green and Avro then joined the growing list of providers ceasing trade, leaving a combined 835,000 customers without a supplier.
Igloo, Symbio Energy and Enstroga all collapsed in one blow at the end of September, with roughly 233,000 customers left in the lurch.