SSE Plc (SSE.L) confirmed Wednesday that it will be accepting the 10.5 million pounds penalty announced by Ofgem today in relation to breaches of two Standard Licence Conditions for domestic energy sales in Great Britain, mainly between October 2009 and July 2011.
This marked the conclusion of Ofgem's investigation and associated enforcement action, financial or otherwise, against SSE in relation to these breaches. Ofgem has also confirmed that no final order is required in order to achieve compliance.
The breaches relate mainly to inadequate monitoring, auditing and execution of SSE's past sales activities. SSE said it believed it worked hard and in good faith to implement changes to licence conditions made by Ofgem in 2009 and 2010 designed to ensure sales were conducted in a fairer and more transparent manner. However, it accepts unreservedly that it did not move fast or far enough in some areas and acknowledged readily that some of its processes were not as effective as they should have been.
A large number of the breaches refer to activity undertaken between October 2009 and July 2011 - the point at which SSE suspended its doorstep sales operations in Great Britain; others relate to telesales and other sales activity conducted by SSE.
SSE stated that it took significant action to begin remedying the substantive issues raised, and considers its sales processes to be compliant. SSE noted that it has also taken decisive steps to ensure that this will not happen again.
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