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UK watchdog clears proposed merger of SSE and Innogy's retail units

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UK watchdog clears proposed merger of SSE and Innogy's retail units
FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry, Scotland, Britain, November 8, 2017. REUTERS/Russell Cheyne   -   Copyright  RUSSELL CHEYNE(Reuters)
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(Reuters) – Britain’s Competition and Markets Authority (CMA) on Wednesday cleared a proposed deal between British energy providers SSE and Innogy SE’s <IGY.DE> Npower to merge their retail units.

CMA said it decided to clear the merger after finding that SSE and Npower are not close rivals for customers on standard variable tariff prices.

(Reporting by Arathy S Nair in Bengaluru; Editing by Bernard Orr)

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