MPs call for investigation into SSE-npower merger

The Business, Energy and Industrial Strategy (BEIS) Committee is calling for an investigation into the proposed merger between Big Six firms SSE and npower. It has written to the Competition and Markets Authority (CMA) to launch a probe as it is concerned the merger may lessen competition and affect energy consumers. The merger would reduce […]

Ofgem launches fresh investigation into SSE

Ofgem has launched an investigation into whether SSE’s messaging to its customers accurately reflects which are the supplier’s cheapest deals. The regulator will examine whether the Big Six supplier failed to provide accurate information about the cheapest tariffs that prepayment customers could switch to and make savings. Energy companies are obliged to tell their customers […]

SSE and npower agree domestic energy merger

SSE and npower have agreed to merge their domestic businesses to form a new energy giant. SSE’s shareholders will hold 65.6% of the stake in the new energy company while innogy, npower’s parent company, will hold a minority interest of 34.4%. innogy will also receive a break fee of £60 million if SSE’s shareholders fail […]

Big Six suppliers SSE and npower in merger talks

Big Six companies SSE and npower are in talks about merging their businesses to create a giant energy supplier in the UK. German utility innogy, parent company of npower, and SSE are in “advanced exclusive discussions” about combining their gas and electricity supply business in Britain. Such a deal would possibly see the Big Six […]

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 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 […]

SSE pledges to cut number of customers on poor value energy deals

SSE has pledged to reduce the number of customers on the default standard variable tariffs (SVTs). In a letter to Energy Secretary Greg Clark and Ofgem CEO Dermot Nolan, Chief Executive Alistair Phillips-Davies said the Big Six supplier will no longer automatically roll customers onto SVTs once they have come to the end of their […]

Mixed reactions to May’s energy price cap pledge

There have been mixed reactions to Prime Minister Theresa May’s pledge to introduce a draft bill next week to put a cap on energy bills. Trade body Energy UK believes it is important growth of competition and market engagement is not halted. Chief Executive Lawrence Slade said: “One of the major contributors to high energy […]

SSE and Statoil team up for UK offshore wind projects

SSE has formed a joint venture with Norwegian firm Statoil to drive forward the Dogger Bank Offshore Wind projects. The 50:50 partnership will see both companies work collaboratively to progress three of the four consented projects towards financial investment decisions. That includes the Dogger Bank Creyke Beck A and B and Dogger Bank Teesside A, […]

SSE offer UK’s biggest ever green bond

SSE has issued the biggest ever green bond from a UK business. The Big Six supplier says the move is its latest step in tackling climate change and developing a market for environmentally-friendly financial products. Stretching over eight years, it will provide capital to refinance the business’ portfolio of recently built or under construction onshore […]

Innogy, Statoil and SSE in 4.8GW UK offshore wind split deal

Innogy, Statoil and SSE have signed an agreement for interests in an offshore wind development project in the UK. The Dogger Bank development consist of four offshore projects – Creyke Beck A and B and Teesside A and B. Following the agreement, Statoil and SSE will own 50% each in Creyke A and B and […]