Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has found that the merger of SSE Retail and Npower could lead to higher prices for some billpayers, following its initial investigation.
Rachel Merelie, Senior Director at the CMA, said “We know that competition in the energy market does not work as well as it might. However, competition between energy companies gives them a reason to keep prices down. We have found that the proposed merger between SSE Retail and Npower could reduce this competition, and so lead to higher prices for some customers. We, therefore, believe that this merger warrants further in-depth scrutiny.”
SSE and Npower now have until 3 May to offer measures to address the CMA’s concerns. If they do not provide such ‘undertakings’, the CMA will refer the merger for a Phase 2 investigation.
