ENGIE: new energy supplier offering green deals at transparent prices

This new domestic renewable energy supplier is promising to end rip-off bills with a tariff that tracks wholesale prices. Here’s everything you need to know about ENGIE.

What is ENGIE?

ENGIE is a French power company that has been supplying UK businesses with gas and electricity for the past 30 years.

Formerly known as GDF Suez, ENGIE has now stepped into the household energy market and is set to really shake things up.

The firm is offering 100% renewable electricity at no additional cost for all domestic customers and has pledged to restore trust in the UK energy market with a tracker tariff linked to wholesale energy prices.  

And while we're on the topic of energy bills, have a read of our piece on why Theresa May' proposed price cap is bad news for savvy households.

What tariffs are on offer?

Here’s a rundown of the tariffs available to UK domestic customers.

Could you slash the cost of your energy? Compare prices now

What makes ENGIE different?

ENGIE describes itself as ‘the largest company to enter the UK domestic energy market for over 15 years’ and along with its scale is hoping to stand out with its green products and transparent pricing.

One of its main selling points will be the ENGIE Tracker.

This will launch in the summer and will reflect wholesale energy price changes as they rise and fall each month, meaning customers will always pay a 'fair' price for their gas and electricity.

The tariff price will be made up of 40% wholesale costs and the rest will be made up of the cost of Government policy, transmission and profits.

It’s similar to the wholesale tariff tracker launched earlier this week by Octopus Energy, another relatively new firm.

Judith Hartmann, Executive Vice President of ENGIE, in the UK and North America said: “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.”

Those on fixed rate introductory deals will also get a better deal with ENGIE’s ‘Rate Rollover Promise’.

This is a pledge to reward loyalty which means when a deal comes to an end, ENGIE will always revert customers onto its cheapest deal.

Typically, energy suppliers revert customers onto their standard variable tariff, which tends to be their most expensive option.

How to switch

Visit the loveMONEY energy comparison centre today to find out if ENGIE could offer you a better deal.