Energy supplier SSE loses 50,000 customers

Energy supplier SSE is aiming for a return to growth this financial year despite losing thousands of customers. The number of electricity and gas customer accounts in the UK and […]

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By Priyanka Shrestha

Energy supplier SSE is aiming for a return to growth this financial year despite losing thousands of customers.

The number of electricity and gas customer accounts in the UK and Ireland fell from 8.21 million on 31st March this year to 8.16 million at the end of June.

However, the number of home services customer accounts – i.e. cover for boiler, controls and heating systems – grew from 400,000 to 416,000 during the same period.

The Big Six company plans to invest around £1.75 billion in energy infrastructure in the UK and Ireland in 2016/17.

It stated total output from its gas and oil-fired power stations was 4.40TWh while renewables sources generated 1.51TWh.

The energy supplier has started the sale of up to a third of its 50% stake in gas distribution company SGN Limited, with the proceeds set to be used to return value to shareholders or to invest in the business.

Alistair Phillips-Davies, CEO of SSE said: “SSE has made a solid start to the financial year with continued focus on operational efficiency, putting our customers at the heart of everything we do and progressing long term investments in the UK’s and Ireland’s energy infrastructure, including significant progress with the Beatrice Offshore Wind Farm and the new Caithness-Moray electricity transmission link.

“The external operating environment continues to have an impact on SSE. Whilst the publication of the final remedies by the CMA brings clarity, it does constitute a considerable package of reforms to be implemented into the fast changing energy supply market.”

He added Brexit could lead to “aspects of the financial, regulatory and political environment becoming more uncertain in the years ahead”.

SSE this week installed the 250,000th smart meter in a house in Rugby.