British regulator OFGEM fines electricity supplier SSE 10.5 million pounds for misleading customers

SSE was told that it must pay a £10.5 million fine, the largest for an energy supplier, for misleading customers over its prices.

 

Ofgem, the industry regulator, said it had found failures relating to telephone, in-store and doorstep sales “at every stage of the process”, including at management level.

 

“The level of fine reflects the seriousness and duration of breaches, the likely substantial harm that they have caused and the likely gain to SSE,” Ofgem said today

 

The regulator's managing director for markets told the BBC that the company's management was guilty of “a woeful catalogue of failures.”

SSE — formerly Scottish and Southern Energy — said Wednesday that it “takes full responsibility for its actions and will be accepting the fine in full.”

Chief Executive Ian Marchant said “the sales methods sometimes used on doorsteps of potential customers were unacceptable.”

SSE shares were down 0.3 per cent at 15.03 pounds in early trading on the London Stock Exchange.

SSE's Managing Director of Retail, Will Morris, responds to Ofgem's decision to fine the company for breaches to Standard Licence Conditions


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