SSE to cut gas prices by 5.3%


Energy giant SSE is to cut its standard gas prices by 5.3% in the latest move by a Big Six supplier to reduce tariffs.

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Energy firms ‘not improving customer complaint handling’


Energy companies are failing to improve their handling of customer complaints, Citizens Advice data shows. Complaints about four of the big six - SSE, EDF, British Gas and npower - increased between the last quarter of last year and the first quarter of this year. Scottish Power, by far the worst offender overall with 1,154 complaints per 100,000 customers in the first quarter, saw a slight drop from 1,163 on the end of last year. SSE received the fewest complaints at 55.1 per 100,000 customers, but this was an increase on the previous quarter’s figure of 44.5.

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Energy company SSE loses 90,000 customers in three months as shares fall


Energy giant SSE lost 90,000 customer accounts in the last three months but gave no indication that it would follow rival British Gas in cutting prices. Shares fell 4% as the group also said that annual profits from its energy supply arm were likely to fall. The trading update comes weeks after a probe by the Competition and Markets Authority (CMA) found suppliers have been overcharging customers by around £1.2 billion a year - and said that it was considering proposals that could see bills slashed.

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SSE loses 500,000 customer accounts


Energy supplier SSE said it has lost more than 500,000 customer accounts in the last year, despite its pledge to freeze bills until at least July 2016. The UK’s second biggest company blamed “increasingly challenging and highly competitive market conditions” for the decline to 8.5 million accounts. SSE’s retail arm reported a 39% increase in profits to £456.8 million for the year to March 31, meaning that it made an average of £69 from the supply of household electricity and gas - before tax and interest payments. The rise in profits follows a tariff hike in November 2013 and the firm’s subsequent pledge to freeze prices, which it recently extended to next summer in the wake of a 4.1% average reduction in gas prices from last month.