May 8, 2018 / 10:30 AM / 2 months ago

E.ON expects npower-SSE joint venture to go ahead: CFO

FRANKFURT (Reuters) - E.ON expects a planned British retail energy joint venture between Innogy’s npower and SSE to go ahead despite intensifying regulatory scrutiny, Chief Financial Officer Marc Spieker said.

Earlier, British regulators launched an in-depth investigation into the tie-up, saying it may reduce competition and increase prices for some households.

The deal bears significance for E.ON, which last month unveiled plans to acquire Innogy’s European customer businesses as part of a larger asset swap with Innogy’s parent RWE.

Spieker said that deal would be unaffected should regulators eventually decide to block the npower-SSE transaction.

Reporting by Christoph Steitz; Editing by Douglas Busvine

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