SSE strikes six-year gas deal with Statoil

3rd Oct 2014 13:40

Renewable electricity and gas supplier SSE has announced a new gas supply deal with Norwegian energy company Statoil.The contract will begin 1 October 2015 and last for six years.According to Bloomberg, the agreement secures SSE 500,000 therms of gas per day, approximately 6% of its average daily gas demand, at prevailing market prices and conditions.The FTSE 100 group stated: "By maintaining a diverse and balanced portfolio of contracts and assets, both long and short term, SSE has greater ability to manage wholesale energy price volatility thereby protecting customers and ensuring greater retail price stability."