POWERGEN has struck a deal with "web currency" firm Beenz.

New customers converting to the gas, electricity and telecommunications company will now be able to collect up to £50 worth of Beenz.

The web currency can be used at a variety of on-line traders dealing with products such as holidays, music, clothes and DVDs.

Customers will earn £15 worth of Beenz for swapping their gas, electricity or telephone to Powergen, £30 for swapping two services or £50 for all three.

Charles Cohen, chairman and chief executive of Beenz.com, said: "Powergen is one of the UK's biggest utilities and to have them paying their customers in Beenz is an excellent endorsement of our currency."