UK’s second largest energy supplier loses 50 000 customers

• 7 years ago (2016-07-21)

Europe 1061

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SSE has said that total household customer numbers have fallen to 8.16 million at the end of June, from 8.21 million registered at the end of March this year.

An SSE spokesperson said: “It's an intensely competitive market with more than 30 suppliers competing for customers.”

The “big six” suppliers have seen their market share drop to 84.6 per cent in the dual-fuel (gas and electricity) market, compared with 99 per cent four years ago, according to data from consultancy Cornwall Energy.

Centrica Gas by comparison, the UK’s largest energy supplier, lost as many as 224 000 customers between January and March of this year.

Smaller suppliers, like First Utility, Ovo Energy and Good Energy, often offer lower prices, which have been attracting customers.

SSE has also announced its intention to sell up to a third of its 50 per cent stake in regional gas distribution business, SGN, which Angelos Anastasiou, an analyst at Whitman Howard, estimates could be worth £500 million.

The energy company also stated its aim to lobby officials in the UK and the EU to continue energy market harmonisation and to implement effective carbon pricing policies.