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SSE boss 'agrees with Miliband' as it freezes energy prices

The boss of energy firm SSE has told ITV News he "agrees" with Labour leader Ed Miliband over freezing energy prices. He admitted the firm, which has pledged not to raise domestic bills until 2016, has lost several hundred thousands of customers.

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Energy committee chair sceptical on SSE price pledge

The chair of the House of Commons energy committee has questioned the impact SSE's promise to freeze prices will have on the energy market.

Tim Yeo said he was worried about companies reducing investment in renewable energy if they think lower bills will hit their profits.

At first glance SSE's price freeze appears to be welcome news for consumers, but it follows several years of above-inflation price hikes and SSE's tariffs may still not be the most competitive on the market.

The announcement that SSE is also cancelling investment in four offshore wind farms highlights the potential dangers of any promises to freeze the energy market.

Britain may well find itself facing an investment shortfall if this policy is pushed through. If that happened, it could aggravate the coming crunch in generating capacity and increase the risk of black-outs in future."

– Tim Yeo MP, Chair of the energy committee

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