SSE to sell 50 per cent stake in its telecoms arm for £380m in bid to cut debt December 21, 2018 Scottish and Southern Energy (SSE) is set to sell a 50 per cent stake in its telecoms business to Infracapital for a fee of around £380m. The company announced the planned sale to the infrastructure equity investment arm of M&G Prudential on Friday as it tries to reduce its debt. It comes as part of a wider restructuring [...]
SSE abandons takeover of rival energy provider Npower as government price cap takes its toll December 17, 2018 A planned merger between SSE and Innogy's Npower will no longer be going ahead, after the two gas and electricity firms were unable to reach an agreement on "revised commercial terms". SSE announced this morning that its board has decided the merger is "not in the best interests of customers, employees or stakeholders" following further discussions with [...]
SSE blames high gas prices for 40 per cent collapse in profits November 14, 2018 SSE saw profits suffer a 41 per cent drop this morning, driven by “persistently high” gas prices, as the energy firm cast doubt over its merger with rival Npower. The figures Adjusted pre-tax profits were down 40.9 per cent year on year to £246.4m in the six months to the end of September, the company announced [...]
SSE expected to announce profit drop as Npower merger hits snag November 11, 2018 Big Six energy company SSE is expected to announce a 43 per cent drop in profit for the first half of the year in its results on Wednesday. On Thursday SSE said the anticipated merger of SSE Energy Services with Npower would be delayed beyond the first quarter of 2019 in order to renegotiate commercial [...]
SSE’s merger with Npower gets the all-clear from UK competition watchdog October 10, 2018 The merger of two major energy firms in the UK has been given final clearance by the Competition and Markets Authority (CMA), paving the way for SSE Energy and Npower to join together as a newly listed company on the London Stock Exchange. The CMA published its final ruling this morning, after the merger was [...]
Ofgem investigates complaints handling at four energy firms, calling industry performance ‘unacceptably low’ September 27, 2018 Ofgem today announced it has opened investigations into four energy firms' complaints procedures, blasting the industry's performance on handling complaints as “unacceptably low”. The watchdog is investigating complaints handling at First Utility, Ovo Energy, Utilita and Scottish Power. Read more: SSE share price suffers as it issues profit warning It has also demanded that [...]
Npower, EDF Energy, E.On UK, Scottish Power and SSE to follow British Gas price cuts July 15, 2015 Analysts forecast last night that Britain’s remaining big five energy groups will quickly follow British Gas and cut gas prices for a further 28m households. British Gas, owned by Centrica, yesterday cut gas bills by five per cent – the second reduction in six months. The cut will come into effect for its [...]
Energy suppliers defend pricing despite government criticism June 1, 2015 Energy secretary Amber Rudd has told the “big six” energy companies to cut bills for consumers, saying the firms can no longer claim they are burdened by the promise of a Labour-led price freeze. Rudd sent letters to the six suppliers – British Gas, EDF Energy, E.On UK, npower, Scottish Power and SSE – on [...]
These are Britain’s most complained about energy suppliers – Scottish Power, Npower, E.On, British Gas and SSE ranked May 15, 2015 Complaints about the energy supplier Scottish Power rocketed an astonishing 588 per cent in 2014 with the company receiving the most complaints ever recorded by a single energy firm. Customers of Scottish Power have suffered issues with a new billing system that meant some didn't receive their bill while others struggled to resolve problems. It spurred [...]
SSE price cuts: Fifth energy supplier slashes gas prices following Npower, British Gas, E.On, and Scottish Power January 26, 2015 SSE is the latest energy supplier to cut its prices, passing on savings from the falling cost of wholesale gas to customers. The energy giant will slash its household gas prices by 4.1 per cent, or £28 a year on the typical gas bill. The cuts will take effect from 30 April and the lower [...]