Future utilities to be available from high-street brand names

NEWS The way customers buy power will change as more utilities decide to become distributor agents rather than suppliers to the consumers. Instead, high-street names - such as Tesco and Virgin - could soon be the place to purchase gas and electricity, according to a survey by ICL. Stewart Preston, director of utilities at ICL said: "There is the view that only five to six companies will be left in the supply business within five years. Most of the companies are questioning whether they really want to invest heavily in new billing systems if the company decides next month not to be in the supply business any more. A lot just wanted to focus on their current business and not on the bells and whistles and trying to win and keep customers." However, in Preston's opinion, utilities were more concerned about competition from other European countries than from the non-traditional high-street players.