As in one that runs in 12 month chunks, yes.
Based on comments on here and other forums, people have enough issues with one 12 month contract, let alone what BT are suggesting. Especially as it is an opt out for the new contract rather than an opt in (as is the normal way of contracts with service providers, including Virgin Media)
I would hate to work in BT customer services 12 months after someone signs up for that.
'You didnt tell me it was auto renewal'
'I didn't get the letter saying it was starting again'
etc
and then the threat of going to Watchdog/Ofcom/their MP