Is SSE planning to exit the domestic energy market?

Big Six energy supplier SSE is reportedly mulling an exit from the domestic market as the government sets its plans for the price cap. Reports claim the energy company is […]

By Priyanka Shrestha

Big Six energy supplier SSE is reportedly mulling an exit from the domestic market as the government sets its plans for the price cap.

Reports claim the energy company is discussing plans to sell its customer accounts or spin off the business as a separate listed firm to focus on networks and renewable energy and avoid the price cap, which could run until at least 2020.

As the cap is aimed at standard variable tariffs and default tariffs, it is expected to threaten the profits of some of the larger suppliers.

SSE supplies gas and electricity to around eight million homes across the UK.

A spokesperson from SSE told ELN it does not comment on market speculation.