A BIG energy brand that supplies 60,000 customers with gas and electricity will shut for business in weeks.

M&S will close its energy business and thousands of customers will have their bills switched to Octopus Energy.

Following a strategic review, Marks and Spencer have said that its own energy business is no longer a priority.

And the retailer has terminated its home energy supply venture with Octopus Energy.

Octopus provided the energy offered to customers on behalf of M&S Energy.

SSE was M&S Energy's supply partner up until 2018.

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But M&S Energy has its own customer account base and used to offer exclusive tariffs to its customers.

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.

"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."

It comes only weeks after Shell launched a "strategic review" of its domestic business which serves 1.4million UK households.

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M&S Energy customers will not be negatively impacted by the move and their energy services will migrate over to Octopus Energy which will manage all 60,000 M&S Energy accounts directly.

The switch will take place automatically and customers will not need to actively switch to Octopus Energy.

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 [email protected].

Alternatively, you can call 08081 697 822 if you need to speak to the customer services team directly.

The retailer's move follows a shift in focus towards its banking services and Sparks loyalty scheme.

M&S reshaped its digital team and introduced M&S Connect in January to help create a "more compelling customer ecosystem."

The closure of M&S Energy follows the closure and collapse of of a number of energy firms since wholesale prices began to rocket in 2021.

Wholesale gas prices rose by 250% in 2021, creating a strain on the UK energy industry.

Suppliers have had to fork out towards the hiked costs as Ofgem's energy price cap and the government's Energy Price Guarantee limits what they can pass on to customers.

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.

What happens if my provider shuts for business?

Dozens of UK energy providers have gone bust since the start of 2021 after struggling with soaring wholesale gas prices.

Bulb didn't collapse, but entered special administration and is operating as normal.

However, if your supplier does fold, your energy won't be cut off so there's no need to panic.

Citizens Advice say if your new supplier doesn't contact you within two weeks, you should get in touch with them.

There are some things you can do before your supplier contacts you.

You can take meter readings, keep any old bills you have as they can prove your payment history and make a note of your account balance.

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Your account balance can be found on your most recent statement.

On top of this, you should wait until your new supplier is decided before cancelling any direct debits.

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