SSE Raises Domestic Electricity prices 14.9% From April 28

LONDON--British energy firm SSE PLC (SSE.LN) said Monday it will increase domestic electricity prices an average 14.9%, but hold gas prices at their current level, blaming the increasing cost of supplying electricity.

The increase equates to a 73 pound ($89.18), or average 6.9% rise for a typical dual fuel customer, SSE said. Electricity prices will increase from April 28.

"The price change reflects the increasing cost of supplying electricity, and specifically higher costs associated with delivering vital government programs designed to upgrade Britain's ageing energy infrastructure and help the country move towards a low carbon future," SSE said. It added that the costs are levied predominantly against electricity customers.

Shares at 0905 GMT down 8 pence, or 0.53%, at 1495 pence.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

March 13, 2017 05:21 ET (09:21 GMT)

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