Innogy-owned UK energy supplier npower has announced it will lose as many as 900 jobs over the coming year as part of a major cost reduction programme.
SSE and innogy have pulled the plug on the proposed merger of their respective supply divisions, with SSE concluding that it would not now be “in the best interests of customers, employees or shareholders”.
SSE and innogy have been forced to renegotiate and possibly delay the proposed merger of their supply divisions, laying the blame squarely at Ofgem’s looming price cap.
The proposed merger of the supply divisions of SSE and Npower has been given the all clear from the Competition and Markets Authority following a five-month investigation.
The merger between SSE’S retail energy business and Npower has been provisionally approved by the Competition and Markets Authority (CMA) after it was found that the deal would have little impact on pricing or consumer choice.