SSE loses 70,000 customers in single quarter – to quit retail market

Scottish energy giant SSE has reported its quarterly results, and has lost another 70,000 residential customers in the period March to June 2019, after losing 570,000 during the 2018 financial year.

The company has also reported a down-turn in renewables generation for the quarter, due to less-than-favourable weather conditions.

SSE reported that the total number of domestic energy customer accounts fell to 5.71 million during the quarter, from 5.78 million.

The company reported a sharp profit drop in the British domestic market during 2018, losing 570,000 customers in the year to March.

Related Stories:
Scotland hits new wind record – could power every home in the nation
Europe: Renewables overtake fossil fuels in first half of 2019
All new UK homes to have EV chargers

The energy company has also reaffirmed its plans to exit the domestic market by mid-2020.

Head of the retail division, Katie Bikerstaffe, took over the reigns in June 2019, and SSE has said it expects the division’s new lead to “continue progress towards a listing or new ownership by the second half of calendar year 2020”.

A much-debated plan to merge the retail division with failed energy suppler npower collapsed in December 2018.

SSE chief executive Alistair Phillips-Davies said: “The early months of our financial year have brought some short-term challenges and some encouraging longer-term developments.”

 “The fact the UK has become the first major economy to legislate for net zero emissions by 2050 is a key development in the fight against climate change and reinforces SSE’s strategic focus on regulated electricity networks and renewable energy,” said Mr Phillips-Davies.