SSE to pay over £0.7m after overstating feed-in tariff costs

(Sharecast News) - SSE will pay more than £0.705m to the feed-in tariff levelisation fund and in redress, it was announced on Wednesday, after the energy supplier overstated to Ofgem the costs it incurred through making feed-in tariff payments to eligible low carbon generators.As a result, the FTSE 100 company received £4.07m more in payments from the annual levelisation fund than it was entitled to.SSE reported the error to the regulator, Ofgem, and had paid back the overpayment.It had agreed to pay a further £455,705 in interest to the feed-in tariff levelisation fund, and also agreed to pay £250,000 to Ofgem's voluntary redress scheme to help support vulnerable customers."An independent audit has been carried out to identify the causes of the error," Ofgem said in its statement."It recommended actions to improve SSE's feed-in tariff reporting processes and reduce the risk of future non-compliance, which SSE is currently implementing."SSE was now required report the outcomes of the changes to Ofgem."Ofgem has now closed this compliance case without taking enforcement action, taking into account the steps SSE has taken to address its failings and the redress it has agreed to pay."