4th Oct 2021 15:04
(Alliance News) - Ofgem has launched an investigation into whether SSE PLC and EP SHB failed to comply with transmission licence conditions by overcharging for electricity, the energy regulator said Monday.
Ofgem's investigation will centre on whether bid prices the two companies submitted were excessively expensive, including when taking into account both the opportunity costs and avoided costs associated with reductions in generation.
The opening of the investigation does not imply that Ofgem has made any findings about non-compliance or that the two energy firms breached the contract agreement.
SSE shares were trading 0.8% lower in London on Monday afternoon at 1,571.50 pence each.
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
SSE