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Scottish and Southern Energy (SSE) will start auctioning its entire electricity supply on the wholesale market. This is the first time such a move has come from any of the big six suppliers, who use their own power stations to generate electricity, with only a small surplus reaching the wholesale market. The change could shake up the market for consumers by letting smaller energy firms challenge the big six, who supply 99% of British households' energy. The move was hailed by regulator Ofgem.
Under this new arrangement, SSE will auction all its electricity supply on the open market. The firm itself will buy energy from this wholesale market. Will prices fall? At the moment, no one can predict if household prices will come down, but Mark Wiltsher from Ofgem said it "welcomes SSE's recognition of the need to reform the way suppliers treat consumers". However, Mr Wiltsher added, "the devil is in the detail." This may be because suppliers like to hedge their bets by...Read more here---> BBC News - SSE energy auction plan may shake up power market
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Small energy supplier First Utility slammed yesterday’s announcement from Scottish and Southern Energy to open up the energy market as 'cosmetic'. SSE is to auction all its electricity to any household supplier on the wholesale market. It said the move will help remove a key barrier to smaller firms providing energy.
However, one of those this should help, First Utility, says that the move is ‘cosmetic’ and will do little to help small suppliers with gaining market share....Read more here---> First Utility slams Scottish and Southern Energy's move to open up energy market as 'cosmetic' | This is Money