SSE confirms Ovo talks to sell energy retail business

Perth-based energy giant SSE plc has confirmed it is in talks with Ovo Group about the potential sale of its energy retail arm which serves 5.7 million households in the UK.

Any deal is expected to be priced at several hundred million pounds.

In a stock exchange statement SSE said: “As it said in its preliminary results statement in May, and reiterated in its Q1 trading statement in July, 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 …

“SSE will provide no further comment on the discussions until a conclusion to them has been reached …”

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