Airtricity not impacted by SSE power merger
Airtricity owner SSE has said the merger of its British household energy business with Npower will not impact its residential services in Ireland.
SSE and German-owned Npower confirmed yesterday that they're merging their residential businesses in Britain. The combined entity will be among the biggest electricity and gas providers there, with 11.5 million customers.
It is also likely to pose a challenge for the ESB. It is gearing up for a full assault on the UK energy market, with imminent plans for a full launch of residential gas and electricity provision.
"The scale of change in the energy market means we believe a separation of our household energy and services business and the proposed merger with Npower will enable both entities to focus more acutely on pursuing their own dedicated strategies," said SSE chief executive Alastair Phillips-Davies.
SSE's shareholders will hold just over 65pc of the new company. Innogy, which owns Npower, will own the remainder.
SSE confirmed that following the separation of its retail business in Britain, SSE will continue to operate Airtricity.
At the end of September, Airtricity supplied power to a total of 770,000 households and businesses on the island of Ireland. That figure was down from 790,000 at the end of March. SSE blamed the decline on competitive pressure.