This is welcomed and refreshing news that Engie and Octopus Energy and entering the electricity supply market with a model based around aligning retail and wholesale prices. It is incredibly unclear to consumers how their bills are calculated and this new model should provide the transparency people are looking for. The traditional energy companies don't seem to be keeping up with what consumers want. Coupled with the fact Engie offer 100% renewable energy at no extra cost, what's not to like!
The Tracker product has been designed to align retail and wholesale prices to reflect changes in daily costs and what customers pay. “With the combination of our knowledge of the country and our global expertise in business to consumer solutions, we are convinced we can provide something new to energy customers in the UK: a fair, clear and transparent pricing along with plans to save money and energy in a sustainable way.” Engie has also committed to rolling customers onto the cheapest available tariff at the end of their fixed term plan, while all of its plans will offer 100% renewable at no extra cost.