Preparations for the launch of a new major UK retail energy supply business have taken a step forward with the appointment of a new chairman designate.
London’s blue-chip index climbed back above the 7,300 mark on Wednesday as rising oil prices helped to push up commodity stocks.
Perth power giant SSE's shares slumped in early trading exchanges as it revealed a £190 million hit to operating profits.
Energy giant SSE has warned half-year profits will tumble 50% after suffering the effects of higher gas prices and dry, still and warm weather.
The competition watchdog has backed a merger of SSE and Npower’s retail divisions in a move that paves the way for the UK’s Big Six energy providers to become the Big Five.
The deal to merge Npower and SSE’s retail operations has been given the provisional green light after the competition watchdog said there is “plenty of choice” in the UK market.
ScottishPower is raising the cost of its standard variable gas and electricity tariff by 3.7%, piling further pressure on squeezed households.
The energy regulator has increased its price cap on variable tariffs due to rising wholesale prices.
Electricity pylons could be camouflaged with woodland colours as part of a multi-million-pound plan to improve one of Scotland's best known beauty spots.
Energy giant SSE has blamed Britain’s heatwave and soaring wholesale gas prices for an earnings hit of around £80 million.