SSE’s shareholders will own two thirds of the new company and Innogy, Npower’s parent, will have the remaining third Andrew Milligan/PASSE and Npower have finalised an agreement to merge their energy supply arms into a new independent giant in a deal they say will allow them to slash costs. The new supplier could be listed in London by the end of next year or early 2019, just as the government’s sweeping price cap on standard energy tariffs is expected to come into effect. The merged company, with £3 billion of combined assets, would include the SSE and Npower household supply arms and Npower’s business supply division. Together the companies supply 11.5 million gas and electricity accounts or an estimated 7 million households. SSE’s shareholders will own 65.6 per cent of the new company and Innogy, Npower’s German parent company, will own 34.4 per cent.

Source: The Times November 08, 2017 09:05 UTC