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Bloomberg
Three of Europe’s largest power suppliers will need to draw up new strategies after the collapse of a deal to merge the retail units of SSE Plc and Innogy SE operating in the UK.
Combining the two would have been an ambitious task. The outlook darkened with laws limiting the bills consumers pay for electricity and natural gas, leaving utilities that once delivered stable profits and dividends struggling to break even.
Add to that stiffening competition that’s draining customers from the Big Six energy suppliers, and the SSE-Innogy deal was untenable, with Jefferies International Ltd. calling it a “shambles†last month.