Monday 12 August 2019

SSE in talks over sale of UK retail energy business to OVO

SSE has confirmed it is in discussions with OVO Group over the sale of its retail energy business.

In May this year, the Big Six supplier had said it was actively progressing a number of options for the future of the SSE Energy Services business.

If the deal is reached, it will add SSE's 5.7 million household customer accounts in Britain to OVO Energy's 1.5 million customers.

That would make OVO one of the UK's largest energy companies while SSE exits from the energy retail market.

SSE said in a statement: “SSE plc can confirm it is in discussions with OVO Group over the possible sale of the SSE Energy Services business, which supplies energy and related services to around 5.7 million household customers across Great Britain.

"These discussions are continuing, however, no fnal decisions have been taken and no agreements regarding the terms of any transaction have been entered into.

“The Board remains focused on securing the best long term future for the business, its customers and employees and for shareholders.”