SSE had intended to merge its energy supply business with Npower but was caught short by the energy price cap Dave Thompson/PAThe merger of two of Britain’s biggest energy suppliers has been scrapped after the price cap and tough competition rendered the proposed new company unviable. SSE said that it had pulled the plug on the proposed combination of its household energy supply business with Npower, owned by Germany’s Innogy, after failing to agree revised terms to salvage the deal. The merger was first proposed a year ago and the new supplier had been due to be listed as an independent company in London early next year. However, the combined company would no longer be viable, SSE said, blaming “very challenging market conditions” and highlighting heavy losses at Npower. SSE said that it would consider other options for its household supply arm, including listing it separately…

Source: The Times December 17, 2018 12:11 UTC