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SSE PLC (SSE.L)

SSE.L on London Stock Exchange

1,377.00GBp
10:46am EDT
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-14.00 (-1.01%)
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1,391.00
Open
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1,395.00
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Latest Key Developments (Source: Significant Developments)

SSE sees 2017/18 adjusted operating profit lower than last year
Wednesday, 27 Sep 2017 02:00am EDT 

Sept 27 (Reuters) - SSE Plc ::SSE - EXPECTS TO REPORT ADJUSTED EPS FOR SIX MONTHS TO 30 SEPTEMBER 2017 OF BETWEEN 30P AND 32P COMPARED WITH 34.2P IN SAME PERIOD IN 2016​.SSE - CONTINUES TO EXPECT THAT TOTAL ADJUSTED OPERATING PROFIT WILL BE IMPACTED BY A REDUCTION IN NETWORKS ADJUSTED OPERATING PROFIT OF AROUND £150M, COMPARED WITH PREVIOUS FINANCIAL YEAR.SSE EXPECTS TO REPORT ADJUSTED EPS FOR SIX MONTHS TO 30 SEPTEMBER 2017 OF BETWEEN 30P AND 32P COMPARED WITH 34.2P IN SAME PERIOD IN 2016.SEES ADJUSTED OPERATING PROFIT IN NETWORKS IN SIX MONTHS TO 30 SEPTEMBER 2017 IS EXPECTED TO BE LOWER THAN IN SAME PERIOD IN 2016.SEES ADJUSTED OPERATING PROFIT FOR SIX MONTHS IN WHOLESALE AND RETAIL IS EXPECTED TO BE HIGHER THAN IN SAME PERIOD IN 2016.FOR THE HALF YEAR, WHOLESALE IS EXPECTED TO BENEFIT FROM IMPROVED PERFORMANCE IN BOTH ENERGY PORTFOLIO MANAGEMENT (EPM) AND GENERATION.  Full Article

SSE issues 600 million euro green bond
Wednesday, 30 Aug 2017 11:03am EDT 

Aug 30 (Reuters) - SSE Plc: :* Says issuing a 600 million euro green bond as part of its commitment to tackle climate change.* Says capital from the eight-year, 0.875 percent bond will be used to refinance SSE's portfolio of recently constructed or under construction onshore wind farms.* Says significant demand for this green bond allowed SSE to price at the tighter end of guidance achieving its lowest ever coupon for a senior bond .  Full Article

BRIEF-Statoil swaps interests with Innogy and SSE in UK offshore wind project
Thursday, 10 Aug 2017 04:06am EDT 

Refiles to correct typo in the headline:SAYS HAS SIGNED A SWAP AGREEMENT WITH INNOGY AND SSE FOR EQUITY INTERESTS IN DOGGER BANK OFFSHORE WIND DEVELOPMENT PROJECT.SAYS FOLLOWING THE TRANSACTION, STATOIL AND SSE WILL OWN 50% EACH IN CREYKE BECK A AND B AND TEESSIDE A, WHILE INNOGY WILL OWN 100% OF TEESSIDE B.DOGGER BANK IS WORLD'S LARGEST OFFSHORE WIND DEVELOPMENT, HAVING ACHIEVED CONSENT FOR AN AGREED TARGET INSTALLED CAPACITY OF 4.8 GW, WITH 1.2 GW CONSENTED FOR EACH OF THE FOUR PROJECTS.SAYS STATOIL AND SSE WILL CONTINUE TO MATURE THREE DOGGER BANK DEVELOPMENT PROJECTS TOWARDS A POTENTIAL CONTRACTS FOR DIFFERENCE AUCTIONS.  Full Article

SSE says Q1 electricity supplied household averaged 793 KWH
Thursday, 20 Jul 2017 02:14am EDT 

July 20 (Reuters) - SSE Plc ::Continues to expect that its capital and investment expenditure will total around 1.7 bln stg in 2017/18.To use 500 mln stg of proceeds from 16.7 pct equity stake divestment in scotia gas networks for an on-market share buy-back.In first three months of 2017/18 SSE continued to experience a net loss in total customer account numbers.On course to deliver payment of a full-year dividend that increases annually by at least RPI inflation in 2017/18 and beyond.Q1 electricity supplied household averaged 793 KWH versus 821 KWH.  Full Article

SSE Plc announces share repurchase programme
Wednesday, 5 Jul 2017 12:00pm EDT 

July 5 (Reuters) - SSE Plc ::Says share repurchase programme.Announces share repurchase programme to purchase its shares for cancellation, during period which commences on July 6 and ends no later than Aug. 31.Aggregate purchase price of all shares acquired under programme will be no greater than 70 mln stg.  Full Article

Ofgem updates on proposed network allowances
Tuesday, 13 Jun 2017 02:00am EDT 

June 13 (Reuters) - National Grid Plc :Ofgem sets out how proposed reductions in National Grid and distribution network companies' allowances will benefit consumers.National Grid announced in March that it will voluntarily defer 480 million stg of its allowed expenditure.National Grid's deferral will initially reduce network charges on consumers' energy bills by around 100 million stg between 2019 and 2021.National Grid is deferring £480 million of expenditure.Has set out proposals to make financial adjustments to reflect electricity dnos performance under previous electricity distribution price control,ended on 31 March 2015.Total reduction to allowances proposed across all DNOS is 206.8 million stg.This would result in reduced network charges on consumer energy bills for remainder of period covered by riio-ed1 price control (2015-2023).Is proposing adjustments to allowances totalling 74.6 million stg across some of distribution networks of WPD, Scottish Power, UKPN and SSE.Proposes to reduce allowances by a total of £132.2 million across Western Power Distribution's (WPD) East Midlands network and two of UKPN's networks.  Full Article

SSE posts 2.1 pct rise in FY adjusted pretax profit
Wednesday, 17 May 2017 02:00am EDT 

May 17 (Reuters) - SSE Plc :FY adjusted pretax profit rose 2.1 percent to 1.546 billion stg.Final dividend 63.9 penceper share.Total dividend up 2.1 percent to 91.3 penceper share.FY adjusted profit before tax 1,545.9 million pounds versus 1,513.5 million pounds year ago.FY investment and capex 1,726.2 million pounds versus 1,618.7 million pounds year ago.FY dividend per share 91.3 pence versus 89.4 pence year ago.FY adjusted EPS 125.7 pence per share.Over three years to March 2020 targeting delivery of annual dividend increases that at least keep pace with RPI inflation.Over three years to March 2020 working towards achievement of dividend cover within a range of around 1.2 times to 1.4 times.Over three years to March 2020 targeting an increased RAV of its economically-regulated networks businesses, to close to £9bn.For 2017/18 financial year targeting an annual increase in full-year dividend that is at least equal to RPI inflation.For 2017/18 financial year working to keep dividend cover within expected range of around 1.2- 1.4 times.For 2017/18 financial year expecting to invest around £1.7bn in building, owning and operating assets.FY adjusted dividend cover towards top of expected range at 1.38 times.Investment and capital expenditure remains on course to be around £6bn across four years from april 2016 to march 2020.In 2017/18 investment and capex is expected to be around £1.7bn and in 2018/19 it is currently expected to be around a similar level.  Full Article

SSE sees 2016/17 capex of about 1.75 bn stg
Tuesday, 31 Jan 2017 02:00am EST 

SSE Plc : Trading statement . SSE Plc completed Q3 of its financial year on 31 December 2016. . For 2016/17 SSE remains on target to achieve a return to growth and deliver adjusted earnings per share. of at least 120 pence . For 2016/17 SSE still expects to report an annual increase in full-year dividend that at least keeps pace with RPI inflation . Progress with its capital investment programme for 2016/17, which is now expected to be around 1.75 bn stg . Period since our interim results has featured volatile wholesale energy market conditions and, during november and december in particular - CEO .Despite these issues, and several persistent uncertainties in aspects of operating environment, SSE is well placed -ceo.  Full Article

Thames Water Utilities appoints SSE exec as CFO
Monday, 21 Nov 2016 04:00am EST 

Thames Water Utilities Ltd :Has appointed SSE's Brandon Rennet to succeed Stuart Siddall as chief financial officer in March 2017..  Full Article

Ofgem says costs National Grid incurred in Drax contract did not meet test for an income adjusting event
Tuesday, 23 Aug 2016 02:30am EDT 

Ofgem: Decision on National Grid's request to recoup spending on power station contracts . Ofgem sets National Grid cost targets for its role in balancing network and managing provision of black start services . Ofgem has decided that costs National Grid incurred under Drax contract did not meet test for an income adjusting event . These costs are paid for by generators and suppliers via balancing charges. . Ofgem has allowed claim for fiddler's ferry contract in full (54 mln stg) as it met criteria for an income adjusting event and costs were deemed outside National Grid's control . As a result of ofgem's decision, National Grid will bear up to 17.7 mln stg in costs itself, which is 30 per cent of costs of drax contract . National Grid will recover at least £95.3m via balancing charges on suppliers and generators (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

BRIEF-Norsk Hydro wins regulatory approval of Sapa takeover

* Competition authorities have approved the acquisition of Sapa