SSE given £10.5m mis-selling fine

<p>SSE has been told to pay a £10.5 million fine.</p>

SSE has been ordered to pay a £10.5 million fine as a result of mis-selling.

Ofgem said SSE, which used to be known as Scottish and Southern Energy, was guilty of "prolonged and extensive" mis-selling caused by management failures.

SSE apologised for the incident, stating it was "deeply regretful" about the mis-selling.

"Ofgem's findings show SSE failed its customers, mis-sold to them and undermined trust in the energy supply industry," said Sarah Harrison, Ofgem's senior partner in charge of enforcement.

Despite the £10.5 million fine being handed out to the energy firm – with the money to be given to the Treasury – SSE's share price was slightly up this morning (April 4th).

At 08:10 this morning, its stocks were trading at 1,520.73, which is up almost ten points, a rise of 0.64 per cent, on the start of the day.

The company is close to its 52-week high, which currently stands at 1,526.00.

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