Jobs fears as two big energy suppliers reveal merger plan
TWO of Britain’s biggest energy suppliers have revealed they could merge, sparking fears of job losses.
SSE yesterday confirmed it was in talks with Npower about creating a new company.
“Negotiations are well advanced, but no final decisions have been taken,” SSE said in a statement.
The business would create a heavyweight with 12.5 million customers, similar to industry giant British Gas.
It would mean the Big Six suppliers becoming the Big Five. Sources refused to rule out job losses if the deal went ahead, but costs would be cut.
Neil Wilson, of ETX Capital, said: “It’s hard to see how the regulator would let this one through. Cutting the Big Six to a Big Five would hardly help competition.”