SSE receives proposed price reduction from Ofgem

Scottish and Southern Energy Power Distribution, part of SSE PLC, said it has received the final outline for the proposed 2015 price reduction from Ofgem.

In the north of Scotland and south of England, areas where SSE operates, the industry regulator has proposed a reduction of £27 and £18 per household bill respectively. Both price reductions are proposed to come into effect from 1 April 2015 for an eight-year period.

"Over the coming weeks Scottish and Southern Energy Power Distribution will carefully examine the detail of Ofgem's final determination and assess whether it represents a fair balance for customers and investors,” the firm said in a statement.

“Scottish and Southern Energy Power Distribution has until early next year to complete its assessment of Ofgem's final determination."

Ofgem recently announced a £17bn investment package which aims to renew and maintain the electricity network.

SSE shares were 0.37% down to 1,629.00p at 08:30 on Friday.