Tesco abandons move into gas and electricity sales
Friday 06 June 1997
Tesco has given up attending meetings of independent suppliers organised by the watchdog Ofgas since the beginning of the year. The retailer was the only one of the large supermarket chains to join in the meetings of the Domestic Competition Focus Group, which acts as an information exchange for businesses interested in participating in the emerging domestic market. Tesco had a small team of staff working on the project, led by Steve Mcardle, a marketing manager in its Clubcard department.
This week Southern Electric, the last remaining independent regional electricity company, said it understood the supermarket groups had abandoned plans to sell gas and electricity.
Sainsbury had called off discussions with independent gas companies earlier this year apparently after fears that its brand might be damaged by repetitions of the marketing problems in domestic gas competition trial areas in the south of England. Independent suppliers had hoped to forge alliances with the supermarkets to tap into their loyalty card customer databases.
Observers also point to low profit margins of as little as 1 per cent in the electricity supply market and uncertainties of securing wholesale gas supplies at competitive prices.
The oil giant British Petroleum has also distanced itself from the domestic market. One of BP's executive committees is believed to have discussed proposals to move into the gas market for the third time without reaching a decision.
Actress sees off speculation about her appearance in an amazing way
Review: Despite an uphill climb to see Jake Bugg in action, his performance is notably flat
- 1 Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 2 Salisbury ranked seventh-best city in the world to visit in Lonely Planet’s Best in Travel 2015
- 3 Disney announces new female-led film Moana
- 4 Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Australian jihadist Abdullah Elmir vows Isis will fight 'until black flag is on the top of Buckingham Palace'
Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
Chicago voter tells Obama 'don't touch my girlfriend' – Obama stays super smooth
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
Of course, teenage girls need role models – but not like beauty vlogger Zoella
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
iJobs Money & Business
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...