SSE Business Energy remains a key part of the SSE group. Following the agreement to sell SSE Energy Services to OVO, we’ll continue to supply electricity and gas to business and public sector customers in Britain.
You might have heard the news that SSE has entered into an agreement to sell its household energy and services business, SSE Energy Services, to OVO Energy. Completion of the transaction is expected in late 2019 or early 2020 and is subject to the necessary regulatory approvals. The SSE brand will be operated by OVO under licence for a period to their home energy customers.
SSE Business Energy is a separate part of SSE, supplying around 500,000 electricity and gas metering points for commercial and public sector customers. We’re as committed as ever to delivering first-class service and tailored energy solutions to a broad and diverse range of customers, from micro businesses to large national corporates.
SSE’s strategy is to create value for shareholders and society from developing, operating and owning energy and related infrastructure in a sustainable way. SSE has a clear focus on renewable energy and electricity networks, supported by businesses complementary to them.
We’ll continue to work with other businesses within SSE to leverage the group’s Renewables, Enterprise and Markets capabilities for our customers. This includes backing our SSE Green electricity contracts with SSE wind and hydro generation, bringing to market innovative flexible supply solutions offering unparalleled wholesale market access, and developing bespoke energy optimisation solutions.
With a clear vision to be ‘a leading energy company in a low carbon world’ and a corresponding business model aligned to ‘net zero’ carbon emissions by 2050, the future SSE is well placed to support business and public sector customers through the low carbon transition.
Ultimately, this transaction would be another stepping stone towards the execution of SSE’s clearly articulated strategy, leaving a more focused group able to specialise in the low-carbon infrastructure needed now and in the future.
Alistair Phillips-Davies, Chief Executive of SSE, said: “Following the transaction, SSE will be able to give an even greater focus to delivering the low carbon infrastructure needed to help the UK reach net zero emissions. We have a clear strategy around developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core. We have a large and growing renewable energy pipeline and a leading position in the electricity networks needed to deliver low-carbon energy reliably to homes and businesses in an increasingly electrified economy.”
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