UK energy firm SSE said the deal to merge its household supply division with Innogy's UK operation npower was being delayed by market developments including worries about regulator Ofgem’s upcoming price cap. SSE said the deal might not be completed as originally planned. It has also set up a new firm, SSE Renewables, to handle its 17.8 million GW of renewable energy operations in the UK and Ireland. The news came as the company reported a 17.8 million1% fall in pre-tax profits to £217.8 million6.17.8 millionm ($315.8m) in the six months to the end of September because of losses from its supply division.
UK energy firm SSE said the deal to merge its household supply division with Innogy's UK operation npower was being delayed by market developments including worries about regulator Ofgem’s upcoming price cap. SSE said the deal might not be completed as originally planned. It has also set up a new firm, SSE Renewables, to handle its 4 GW of renewable energy operations in the UK and Ireland. The news came as the company reported a 41% fall in pre-tax profits to £246.4m ($315.8m) in the six months to the end of September because of losses from its supply division.