SSE comments on next CMA milestone
SSE plc (SSE) notes the decision by the Competition and Markets Authority (CMA) to make a Phase Two reference in respect of the proposed merger of SSE Energy Services, SSE’s household energy and services business in GB, and Innogy SE (innogy)’s retail business, npower. This typically takes up to 24 weeks, with the possibility of an extension.
Alistair Phillips-Davies, Chief Executive of SSE, said:
“We look forward to continuing to work constructively with the CMA as it undertakes its detailed investigation. A Phase 2 referral is a well-established process for transactions of this nature and we remain confident that the proposed merger will deliver benefits for customers and the energy market as a whole. The formation and listing of the new company remains on track for completion in the last quarter of 2018 or the first quarter of 2019.”