- The UK Competition and Markets Authority has given its provisional approval to the proposed merger of the retail power arms of SSE and Innogy's npower.

"Following a thorough and in-depth investigation, we are pleased the CMA has provisionally concluded that the proposed merger of SSE Energy Services and npower does not raise competition concerns," said Alistair Phillips-Davies, Chief Executive of SSE.

The planned transaction presented a great opportunity to create a more agile, innovative and efficient company that really delivers for customers and the energy market as a whole, he said.

"We look forward to continuing to engage with the CMA as it prepares its final report ahead of the statutory deadline in October. We remain confident that the formation and listing of the new company is on track for completion by the end of SSE's financial year," he added.

At 8:24am: [LON:SSE] SSE PLC share price was +0.75p at 1251.25p

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