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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Scottish and Southern Energy    SSE   GB0007908733

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SSE PLC : SSE welcomes Ofgem’s new Standards of Conduct

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08/27/2013 | 11:15am CEST
SSE welcomes Ofgem's new Standards of Conduct

27 Aug 2013

SSE today launches its 'Treating Customers Fairly' statement which outlines how it will meet Ofgem's new Standards of Conduct - the first part of the energy regulator's Retail Market Review reforms which came into force this week.

The Standards are part of Ofgem's drive to promote fairness, honesty and transparency in the energy sector and will require all energy suppliers to publish an annual statement setting out how they will comply with the new Standards.

SSE, which supplies energy through supply brands Southern Electric, Scottish Hydro and SWALEC welcomes the new Standards which will enable the company to set out once again how it leads the energy industry in building trust with customers.

Introduction of the Standards is good news for consumers as they are now enforceable by Ofgem, which has powers to investigate, and if appropriate, fine companies who fail to meet them.

SSE's Director of Customer Service, Tony Keeling said: "The introduction of the Standards of Conduct is a good move by Ofgem, a good move for the industry and a good move for customers.

"But we haven't been sitting back waiting for the regulator to tell us what to do, we have been working hard over the last two years to make our own improvements. We have led the energy industry with initiatives like the end to doorstep sales, simplification of our tariffs, our no-loss sales guarantee and a customer charter and service guarantee, whereby if we fail to meet a number of service promises we give the customer money back.

"And our efforts will not stop here, we will continue to look for ways to further improve what we do - like the end to cold calling that we announced recently - to ensure that we continue to work to the highest standards in the industry and make the changes that really matter to customers."

SSE will continue to work with its customer forums - set up to ensure the company is listening to customers' ideas and opinions - in developing further improvements in the way it does business in future.

Further details on how SSE is meeting Ofgem's Standards of Conduct can be found within the 'Treating Customers Fairly' statement.

The Statement will be available on SSE's news and views page at sse.com from 27th August and retail brand websites from 28th August.

- Ends -

Notes to editors:
SSE supplies energy to around 9.46 million energy and home service customers through its retail brands Southern Electric, SWALEC, Scottish Hydro, Airtricity and Atlantic in Great Britain and Ireland.

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Financials ( GBP)
Sales 2018 30 831 M
EBIT 2018 1 717 M
Net income 2018 1 119 M
Debt 2018 9 014 M
Yield 2018 6,29%
P/E ratio 2018 13,90
P/E ratio 2019 12,98
EV / Sales 2018 0,78x
EV / Sales 2019 0,79x
Capitalization 15 059 M
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Average target price 15,6  GBP
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Alistair Phillips-Davies Chief Executive Officer & Executive Director
Richard D. Gillingwater Chairman
Gregor Alexander Executive Director & Finance Director
Katie Bickerstaffe Independent Non-Executive Director
Jeremy J. Beeton Independent Non-Executive Director
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