SSE and Innogy SE formally notify the CMA of their intention to create a new, independent energy supplier
Following early engagement with the Competition and Markets Authority (CMA) since our announcement of 8 November 2017, SSE is pleased to confirm that a formal notification to the CMA has been submitted in respect of the proposed merger with npower to form a new independent energy supply and services business in GB. This has triggered today’s announcement by the CMA that a Phase One investigation of the transaction is now under way. This is standard process and has a statutory deadline of 40 working days.
Alistair Phillips-Davies, Chief Executive of SSE, said:
“Having submitted the Merger Notice to the CMA, SSE and Innogy SE will continue to work constructively with the CMA and other interested parties.
“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. We remain confident that the creation of a new, combined, standalone Retail business will best serve the needs of customers, employees and shareholders in the long term.
“In the meantime, we remain focused on continuing to deliver for customers.”