SSE expects to pay £1.5m in compensation, MPs hear

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'Big six' energy supplier SSE has told MPs that it expects to pay £1.5 million to its customers in compensation.

The company was fined £10.5 million by Ofgem for mis-selling earlier this month.

It previously revealed that it had set aside £5 million for compensation.

SSE's deputy chief executive, Alistair Phillips-Davies, told MPs on the Energy and Climate Change Committee that the company would be offering compensation to customers that lost money as a result of the mis-selling.

Mr Phillips-Davies said: "If any customer feels they've been disadvantaged since October 2008, they will be compensated."

He stated that SSE was paying, on average, an amount of between £65 and £70 per customer in compensation. The deputy chief executive also said that around 23,000 customers may have been affected, adding: "if you multiply that up, that makes about a million and a half pounds."

In a bid to make customers aware of the possible compensation SSE has placed advertisements in national newspapers. It's also written to customers.

Speaking to the MPs, Mr Phillips-Davies added that SSE's training and audit procedures had been changed, and that it had ceased doorstop selling contracts back in 2011.

SSE, a Green Deal approved provider, was just one of the eight energy companies being questioned by the MPs.

The Green Deal is a government policy that provides homeowners with the funding they require to make energy-saving improvements - such as the addition of a new gas boiler. Rather than paying the money upfront, homeowners can pay the costs back through their energy bills - much like a loan.

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