SSE has said it is to freeze its domestic gas and electricity prices until 2016.

The move by the energy supplier comes after the "big six" energy firms in the UK increased their tariffs towards the end of last year.

In a statement, the firm said the price freeze would lower its profits, but a move to "streamline" its business would cover the shortfall.

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It is understood SSE plans to cut 500 jobs and abandon three planned offshore wind farm developments. The company hopes to make annual operational cost savings of £100m.

Chief Executive of SSE, Alistair Phillips-Davies, said the supplier would deliver "the lowest possible energy prices" to its customers.

(JP)