Sigh of Relief For Energy Consumers As Big Six Merger Called Off
The energy market in the UK is currently under the stranglehold of the ‘big six’ – the six biggest companies who control the market and deliver electricity to the majority of households. Those in the know have long said that the way to increase competition in the energy market and reduce bills is to lessen the power that these companies have in the energy marketplace.
Many were worried then, by the planned merger between SSE and Npower, which threatened to turn the ‘big six’ into the ‘big five’. SSE planned to spin off its household energy business in a tie-up with rival company Npower.
Good news, then, for those who were not happy with this move. The planned merger has been called off due to ‘challenging market conditions’ and in part due to the price cap which comes into force on the 1st of January. SSE warned that the price cap risked further pressure on profitability.
This is bad news, perhaps, for the suppliers – but arguably good news for customers looking to get the best deals and the lowest bills. Energy consumers are often better off when they choose not to opt for one of this big six energy companies. More competition means more deals, and it is now easier than ever before for customers to switch supplier and force the direction of energy change and energy prices.
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