SSE welcomes CMA's provisional findings on npower merger

(Sharecast News) - SSE welcomed the provisional findings from the Competition and Markets Authority's inquiry into the proposed merger of its household energy and services business in Great Britain and Innogy's retail business npower on Thursday.The FTSE 100 energy firm said that, following a "thorough and in-depth" investigation, the competition watchdog had provisionally concluded that the proposed merger of SSE Energy Services and npower did not raise competition concerns.It said the scale and pace of change in the Great British energy market continued to be "significant" and required the company to evolve to stay relevant, competitive and sustainable."The planned transaction presents a great opportunity to create a more agile, innovative and efficient company that really delivers for customers and the energy market as a whole," said SSE chief executive officer Alistair Phillips-Davies."We look forward to continuing to engage with the CMA as it prepares its final report ahead of the statutory deadline in October."We remain confident that the formation and listing of the new company is on track for completion by the end of SSE's financial year."