SSE in discussion with Ovo to sell its energy business in UK
Category: #business  By Pankaj Singh  Date: 2019-08-12
  • share
  • Twitter
  • Facebook
  • LinkedIn

SSE in discussion with Ovo to sell its energy business in UK
  • SSE has also been fined £700,000 by Ofgem due to its inability to meet target smart gas meter installation in the previous year.
     
  • SSE announced that it would float or sell its arm of energy services after the first half of 2020.

SSE, an energy company in UK which has a base of almost 6 million customers is in talks for the sale of energy retail to Ovo Group, an energy supply company established in 2009 in Bristol, United Kingdom. SSE stated that it did not arrive at a conclusion about this deal yet.

If the deal is successful, Ovo would be one of the giants for energy supply in UK, with an approximate number of 7.4 million customers, which has established in 2009. SSE unveiled about offloading its service after 500,000 household customers replaced their service with a new supplier last year.

SSE announced that it would float or sell its arm of energy services after the first half of 2020. SSE is one of the top 6 energy suppliers across UK with approx. 5.8 million household customers.

SSE stated that there are ongoing discussions and no decision has been taken and no agreements are made regarding anything. The company is focused toward having a future that is long-term for its business, its employees, its shareholders and the customers. Ovo declined to state anything on SSE’s statement.

Sarah Broomfield, a USwitch energy expert stated that SSE had been searching for a fresh start for its retail energy business over the span of two years. Sarah added that if the agreement takes place then SSE’s customers would get to experience a different feel due to Ovo as it is at the forefront into latest technologies like electric vehicles and smart meters.

 SSE earlier stated that the company business didn’t rise up to its expectations in 2018-19 and might remain short in 2019-20 as well. SSE has also been fined £700,000 by Ofgem due to its inability to meet target of smart gas meters installation in the last year.

Source Credit:

https://www.bbc.com/news/business-49310574

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

Read More

More News By Pankaj Singh

CVS Health plans to recruit 25,000 people ahead of flu season
CVS Health plans to recruit 25,000 people ahead of flu season
By Pankaj Singh

American healthcare company, CVS Health Corp. says that it will hire up to 25,000 people for clinical and retail job positions ahead of the flu season at a time when administration of booster COVID-19 vaccination jabs are underway in the United State...

Dialpad, TelcoDataCloud to extend cloud communication in Australia
Dialpad, TelcoDataCloud to extend cloud communication in Australia
By Pankaj Singh

Dialpad Inc., a leading name in AI-led communication and collaboration, has joined hands with TelcoDataCloud – an independent telecom service and consultancy company. Through this alliance, both the companies aim at strengthening Australian bu...

Tesla to form energy traders’ team as it expands battery projects
Tesla to form energy traders’ team as it expands battery projects
By Pankaj Singh

American EV behemoth, Tesla is reportedly looking to trade energy capacity for which it is putting together a new team of traders to accomplish that precisely with its platform, Autobidder. Autobidder is a control and real-time trading platform for ...