Energy company SSE says it is negotiating the sale of its energy retail business to Ovo Group.
In a company statement, SSE said “SSE is actively progressing a number of options for the future of SSE Energy Services, having determined that its best future lies outside the SSE group. In line with this, and noting recent media speculation, SSE plc can confirm it is in discussions with Ovo Group over the possible sale of the SSE Energy Services business, which supplies energy and related services to around 5.7 million household customers across Great Britain.”
“These discussions are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into. The Board remains focused on securing the best long-term future for the business, its customers and employees, and for shareholders.”
SSE supplies almost six million UK households. If a deal is reached, Ovo would become the UK’s second largest energy firm