SSE PLC Statement re CMA Provisional Findings
August 30 2018 - 2:47AM
Dow Jones News
TIDMSSE
RNS Number : 2029Z
SSE PLC
30 August 2018
Statement re CMA Provisional Findings
SSE plc (SSE) notes the Competition and Markets Authority
(CMA)'s publication of the Provisional Findings from its inquiry
into the proposed merger of SSE Energy Services, SSE's household
energy and services business in GB, and Innogy SE (innogy)'s retail
business, npower.
Commenting on the publication, Alistair Phillips-Davies, Chief
Executive of SSE plc, said:
"Following a thorough and in-depth investigation, we are pleased
the CMA has provisionally concluded that the proposed merger of SSE
Energy Services and npower does not raise competition concerns.
"The scale and pace of change in the GB energy market continues
to be significant and requires us to evolve to stay relevant,
competitive and sustainable. The planned transaction presents a
great opportunity to create a more agile, innovative and efficient
company that really delivers for customers and the energy market as
a whole."
"We look forward to continuing to engage with the CMA as it
prepares its Final Report ahead of the statutory deadline in
October. We remain confident that the formation and listing of the
new company is on track for completion by the end of SSE's
financial year."
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END
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August 30, 2018 02:32 ET (06:32 GMT)
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