SSE confirms Npower talks


SSE has confirmed it is in talks with Npower owner Innogy about merging their respective supply businesses.

In a statement, SSE said its board “has been in discussions with Innogy SE about creating a new independent energy supply company to which would be contributed: SSE’s household energy supply and services business in Great Britain; and Innogy’s household and business energy supply business in Great Britain.”

While talks are “advanced”, no final decisions have been taken “and no binding agreements regarding the terms of any combination have been entered into”, said the firm.

SSE said it would make an announcement as soon as any deal is concluded, or otherwise, but would not make any further comment until that point.

SSE has more than 7.5m customers, and Npower more than 4.5m, although both are losing customers to cheaper rivals.

Npower posted a loss for the first half of 2017. SSE lost 230,000 accounts in the three months to 30 June. It posts quarterly results tomorrow.

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