Alistair Phillips-Davies, chief executive of SSE

In October, the CMA launched an enquiry into the £300m purchase of the retail arm of SSE after the firm announced its intention to buy SSE the month prior.

SSE assured all of its 8,000 energy services staff that they would not lose their jobs, as it was intended that they would transfer to Ovo as part of the process.

SSE said that it would world together with Ovo to plan for the integration and to ensure a smooth transition for the company’s clients and staff.

Commenting on the CMA’s decision, Alistair Phillips-Davies, chief executive of SSE plc, said: “We are very pleased that the CMA has cleared the proposed sale of SSE Energy Services to OVO Group.

“This underlines our long-held belief that a dedicated, focused and independent retailer will ultimately best serve customers, employees and other stakeholders. With the required regulatory approvals now in place, we can make the final preparations for completion, expected around mid-January 2020.

“Completion of the transaction will give SSE plc even sharper focus to delivering the low carbon infrastructure needed to help the UK reach net zero emissions. We have a clear strategy around developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core.” 

The sale is expected to be completed next month.