Tuesday, 7 November 2017

Energy supplier SSE and Npower in energy merger talks

Energy supplier SSE says it has been in talks with the owner of rival Npower with a view to forming a new UK energy supply business.

It said had been in discussions with Germany's Innogy about merging their UK gas and electricity supply businesses into an independent UK company.

A merger would bring together two of the UK's "big six" gas and electricity suppliers.

SSE, the UK's second-largest supplier, said the talks were "well-advanced".

Any deal would need approval from competition authorities and shareholders.
In a statement, SSE said: "In discussions, SSE is mindful of the requirements of customers and the concerns of employees. It will disclose the outcome of the discussions as soon as they are concluded."

SSE shares rose 2% on the news.

BBC      News.

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