Ferrybridge Coal Plant to close by March 2016

It has been announced by SSE that they will close their Ferrbridge Coal Power Plant by March 2016, after in was confirmed the companies profits had remained flat over the last 12 months. SSE have blamed the flat profits on competition from smaller companies in the market, with them loosing 500,000 customers in the period.

It is unsure what will happen to the 172 employees that worked at the plant, however SSE have said that they will redeploy the staff where possible. The companies pre-tax profit for the 12 months leading to March was £1.56bn compared to £1.55bn from the year before.

This news of flat profits comes after npower had also announces reduced profits this year, further evidence of smaller companies providing competition to the ‘big six’. There has been a lot of calls for the big energy companies to reduce their prices for both businesses and residential properties, with some experts expecting the ‘big six’ to look at their pricing strategy to fend off smaller companies.