British regulator fines electricity supplier SSE 10.5 million pounds for misleading customers

LONDON - Britain's energy regulator has fined electricity supplier SSE PLC 10.5 million pounds ($15.9 million) for consistently misleading customers about its fees.

Ofgem says the company was guilty of "prolonged and extensive" mis-selling, and of making "misleading and unsubstantiated statements" in a bid to persuade people to sign up.

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The regulator's managing director for markets told the BBC that the company's management was guilty of "a woeful catalogue of failures."

SSE — formerly Scottish and Southern Energy — said Wednesday that it "takes full responsibility for its actions and will be accepting the fine in full."

Chief Executive Ian Marchant said "the sales methods sometimes used on doorsteps of potential customers were unacceptable."

SSE shares were down 0.3 per cent at 15.03 pounds in early trading on the London Stock Exchange.

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