Tag: SSE

SSE and Npower merger scrapped

SSE and Npower merger scrapped

A proposed merger between two of the UK’s largest energy companies has been scrapped after SSE and Npower failed to agree on terms to ensure financial support for the new firm. The merger would have seen the UK’s “Big Six” energy providers reduced to five, although it came under a […]

SSE reveals Npower deal could fall through

SSE reveals Npower deal could fall through

UK energy giant SSE has expressed a level of uncertainty over its planned merger with Npower after the two companies delayed the deal as a result of incoming caps on default tariff prices. SSE said the impending price cap on standard variable tariffs (SVTs) is expected to increase pressure on […]

Small suppliers make up a quarter of the UK energy market

Small suppliers make up a quarter of the UK energy market

One in four UK energy customers have moved from contracts with larger firms to small and medium sized suppliers after the government moved to cut the Big Six’s monopoly of the market. The surgency in smaller suppliers has significantly reduced the market share of the Big Six firms and slashed […]

SSE-Npower merger gets watchdog clearance

SSE-Npower merger gets watchdog clearance

The proposed merger between two of Britain’s Big Six energy firms, Npower and SSE, has been given the all clear by the UK’s competition watchdog. The Competition and Markets Authority (CMA) has provided the final approval needed for the merger, that will create the country’s second largest energy provider, after […]

Total announces major gas discovery

Total announces major gas discovery

Total has stated that its Glendronach prospect, west of Shetland, could hold one trillion cubic feet of gas – equating to 170 million barrels of oil equivalent. The Stena Don semi-submersible began drilling in May and since encountered a 140 ft gas column, which the French energy giant plans to […]

SSE profits drop 50%

SSE profits drop 50%

SSE has warned its profits could be cut to half of that from last year following reduced output from renewables, higher energy costs and a drop in demand. The Big Six firm has adjusted profits for the first five months of the financial year, that started in April, £190 million […]

Brent crude edges towards $80

Brent crude edges towards $80

The FTSE 100 was down 0.135pc at 7,263.75, despite a strong performance across the mining sector, following the announcement that China will ask the World Trade Organisation’s permission to impose sanctions on the US next week. Big Six energy provider SSE dropped 7.64pc after announcing a profit warning, which had […]

Coal saves German summer

Coal saves German summer

Despite an increase in the rate of installation of wind turbines and solar plants in Germany this year, coal has been forced to step in to meet electricity demand as the amount of power generated from renewable energy sources fell. Data from the Federal Network Agency for Power Generation has […]