May 8 (Reuters) - Britain’s competition watchdog has ordered an in-depth investigation of the merger of SSE’s retail power and gas business in the UK with German rival Innogy’s Npower, the office said on Tuesday.
The Competition and Markets Authority said the initial Phase 1 investigation found that the deal could reduce competition, potentially leading to higher prices for some bill payers. (bit.ly/2KIlttK)
SSE and Npower did not offer measures to address the CMA’s concerns, and so it has referred the merger for a more in-depth, Phase 2 investigation, the watchdog said.
A decision on the SSE-Npower merger will now be made by a group of independent panel members supported by a case team of CMA staff, CMA said. The deadline for the final report is Oct. 22, it added. (Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham)