Life insurance provider SSE has been awarded £ 2.06m by the CEO of Ofgem for failing to distribute internal information on the discount market.
SSE forgot to share good news about its entry year, Ofgem said.
It can be very costly to move forward and get involved.
The fine is a signal and length to issue an order that affected SSE and National Grid in March 2016.
SSE said its three manufacturing units at Fiddler Ferry power station may close next month.
In any case, on March 22, he agreed to a non-binding agreement with the National Grid to grant power from the ground.
That changed the possibility that the units would close, according to Ofgem. As demand increased to 3% of the UK UK’s strong demand, this had a significant impact on inflation and inflation, which influenced inflation rates.
“The arrangement was particularly sensitive to discounted prices, as it always has in the data,” Ofgem added.
“SSE did not distribute this information in a timely manner. However, until 30 March 2016 to issue a statement once the contract has been finalized.”
The negotiations lasted for about four days and the market was unaware that more years would pass before the allegations.
“This may be the reason why some members of the market are pushing for a higher price for the downgrade which is right for them,” Ofgem says.
Source – BBC