Energy prices to be frozen? SSE, one of the 'big six', halts price rises until 2016

SSE’s move puts pressure on other energy suppliers to do the same.

15:35 26 March 2014

Energy supplier SSE (one of the ‘big six’ companies in the UK) has confirmed that it will not increase its prices for the next two years. This move has put pressure on other energy suppliers to do the same which may help curb spiraling energy bills for homeowners across the nation.

The group has pledged to hold down costs until January 2016. The announcement came as Britain’s big six energy firms are likely to face a full-scale competition inquiry, which is expected to last for 18 months.

SSE, Britain’s second biggest energy supplier, has more than nine million customers who will benefit from the price freeze.

Energy Secretary Ed Davey said: “This will be welcome news for SSE's customers and shows that the Government's work to reduce energy bills is working by lowering policy costs and driving competition.

“This shows that the Big Six are starting to realise they need to take big action if they want to keep their customers, who have been switching supplier in record numbers.

“SSE have shown today that the big energy firms are able to cut their costs and profits, and be confident about their ability to weather potential uncertainty in the wholesale markets, to give bill payers long-term price security. Customers of the others will be asking whether their suppliers will do the same. The Government encourages people to shop around for the best deal.”