Scots Power and RBS in net link

By THIS IS MONEY
Updated:

 

Scottish Power and Royal Bank of Scotland have launched an Internet-based joint venture to offer a range of banking, utility and maintenance products and services.

In a statement, the companies said the products and services would be aimed at their combined customer base of 10 million in the residential and small business markets, and offered initially through Thus Scottish Power's majority owned Internet and telecoms company.

ScottishPower's telephone call centres and its nationwide chain of retail stores will also be involved. As part of the venture, ScottishPower energy and home service packages will be offered to Royal Bank of Scotland customers across the UK. Product launches are planned for early summer 2000.

Scottish Power is among a number of UK utilities looking to leverage their large customer base into other household services.

Centrica , retailer of the British Gas brand to over 70% of gas customers in the UK, is furthest ahead, having already branched into house and motor insurance, financial services through its Goldfish credit card, and other areas including roadside breakdown.

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