SSE and Npower announce intentions to merge
The proposed company would be the UK’s second-biggest energy supplier.
Npower’s most recent quarterly report cemented their intentions to merge with SSE. They have written that the size and independence of the potential company would enable them to provide "additional opportunities to win customers through attractive offers and good service".
Should the merger happen, it would mean that the merged business will have about 11.5 million customers, making it second in size only to British Gas.
The deal must be approved by shareholders and regulators. SSE has said that it expects the merger to come to fruition near the end of 2018, or the beginning of 2019.
Alistair Phillips-Davies, Chief Executive of SSE said:
"The scale of change in the energy market means we believe a separation of our household energy and services business and the proposed merger with Npower will enable both entities to focus more acutely on pursuing their own dedicated strategies, and will ultimately better serve customers, employees and other stakeholders.”