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SSE PLC (SSE.L)

SSE.L on London Stock Exchange

1,315.00GBp
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

UK's CMA appoints group of panel members to determine EDF and SSE's appeal on Ofgem's decision
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - UK'S CMA::HAS APPOINTED A GROUP OF PANEL MEMBERS TO DETERMINE EDF AND SSE'S APPEAL ON OFGEM'S DECISION.APPOINTED JOHN WOTTON (CHAIR), ANNE FLETCHER AND JON STERN TO DETERMINE EDF AND SSE'S APPEAL ON OFGEM'S DECISION.  Full Article

Innogy says hired Goldman Sachs in retail tie-up with SSE
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Innogy :Ceo says we are confident to receive antritrust approval for british retail merger with sse sse.l.Ceo says npower had 4.594 million customers in britain at the end of q3.Ceo says no plans to merge retail businesses in other markets, including in the netherlands.Ceo says there will be no bookbuilding for planned tie-up with sse sse.l.Ceo says we have mandated goldman sachs, sse sse.l has mandated credit suisse.Ceo says npower has book value of 2.1 billion pounds.Ceo, asked about potential writedowns on npower, says cannot comment.  Full Article

SSE Plc HY ‍adjusted eps down 8.8 pct to 31.2p​
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Sse Plc -:H1 ADJUSTED PRETAX PROFIT FELL 13.9 PERCENT TO 409.6 MILLION STG.INTERIM DIVIDEND UP 3.6 PERCENT TO 28.4 PENCE PER SHARE.HY ‍ADJUSTED EARNINGS PER SHARE DOWN 8.8 % TO 31.2P​.FOR 2017/2018, EXPECTS TO REPORT EPS AT A LEVEL WHICH IS AT LEAST IN LINE WITH CURRENT CONSENSUS OF SECTOR ANALYSTS' FORECASTS OF 116P​.HY ‍INVESTMENT AND CAPITAL EXPENDITURE WAS SLIGHTLY LOWER AT £779.5M​.FOR 2017/2018, EXPECTS TO ‍TARGET AN ANNUAL INCREASE IN FULL-YEAR DIVIDEND THAT IS AT LEAST EQUAL TO RPI INFLATION​.FOR 2017/2018, EXPECTS TO ‍WORK TO KEEP DIVIDEND COVER WITHIN EXPECTED RANGE OF AROUND 1.2- 1.4 TIMES​.‍ADJUSTED NET DEBT AND HYBRID CAPITAL INCREASED BY 9.0% TO £9.2BN IN SIX MONTHS TO 30 SEPTEMBER 2017​.FOR 2017/2018, EXPECTS TO INVEST AROUND £1.7BN IN BUILDING, OWNING AND OPERATING ASSETS​.LOOKING FURTHER AHEAD, ‍TARGETING DELIVERY OF ANNUAL DIVIDEND INCREASES THAT AT LEAST KEEP PACE WITH RPI INFLATION​.REMAINS ON COURSE TO ‍FOCUSING ON PROGRESS IN ITS CAPITAL AND INVESTMENT EXPENDITURE TOTALLING AROUND £6BN ACROSS FOUR YEARS TO 2020​.‍IN SIX MONTHS TO SEPTEMBER 2017, SSE'S ENERGY CUSTOMER ACCOUNTS IN GREAT BRITAIN AND IRELAND FELL FROM 8.00 MILLION TO 7.72MILLION​.LOOKING FURTHER AHEAD, ‍TARGETING INCREASED RAV OF ECONOMICALLY-REGULATED NETWORKS BUSINESSES TO CLOSE TO £9BN, UP FROM £8BN AT SEPT 2017​.HY ‍REPORTED EARNINGS PER SHARE DOWN 43.9% TO 29.8P​.  Full Article

Innogy, SSE in advanced talks to combine UK retail ops - Innogy
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Innogy SE :Says Innogy, SSE are in advanced discussions on combining their retail activities in Great Britain.‍Says Innogy, SSE are in advanced exclusive discussions regarding combination of retail activities of Npower and SSE's B2C (retail customers) and Energy+ activities in Great Britain​.Says ‍no binding agreements regarding terms of combination have been entered into at this stage​.Says ‍any transaction would be subject to appropriate corporate and board approvals and consent of competent competition and regulatory authorities​.Source text for Eikon: ID:nEQ8D47nPa.  Full Article

SSE in "well-advanced" talks with innogy SE to create independent energy supply firm
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - SSE Ltd::‍HAS BEEN IN DISCUSSIONS WITH INNOGY SE ABOUT CREATING A NEW INDEPENDENT ENERGY SUPPLY COMPANY​.‍DISCUSSIONS BETWEEN SSE AND INNOGY ARE CONTINUING AND ARE WELL-ADVANCED BUT NO FINAL DECISIONS HAVE BEEN TAKEN.‍NEW INDEPENDENT ENERGY SUPPLY COMPANY TO WHICH WOULD BE CONTRIBUTED SSE'S HOUSEHOLD ENERGY SUPPLY AND SERVICES BUSINESS IN GREAT BRITAIN.‍NEW INDEPENDENT ENERGY SUPPLY COMPANY TO WHICH WOULD BE CONTRIBUTED INNOGY'S HOUSEHOLD AND BUSINESS ENERGY SUPPLY BUSINESS IN GREAT BRITAIN​.‍COMBINED BUSINESS WOULD BE LISTED AND SSE WOULD DEMERGE ITS SHARES TO ITS SHAREHOLDERS.​.  Full Article

SSE says will review options for Peterhead gas plant in Britain
Monday, 6 Feb 2017 

Sse Plc : SSE said its Peterhead gas plant in Britain did not receive a capacity agreement in UK auction last week. The company will review options for the plant over the coming months. . The review will not impact current operations at the plant, it said. . SSE says one unit at its Fiddler's Ferry coal plant did not secure a power capacity agreement. .In total, the SSE received agreements for 840 megawatts of hydro electric and pumped storage plant capacity and 3.6 gigawatts of coal, gas-fired and embedded power generation capacity..  Full Article

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

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

Some of world's top 500 companies cutting emissions-report
Monday, 27 Jun 2016 

Some of the world's 500 largest companies are beginning to cut heat-trapping emissions while raising revenues, but as a whole are well below the UN science panel guidance on avoiding the worst effects of climate change, a report released Monday said. : Global 500 as a whole is still about 6.5 percent below where it needs to be to meet the UN's Intergovernmental Panel on Climate Change guidance on emissions. . Twenty-six companies in the Global 500 with greenhouse gas footprints of more than 10 million tons reported emissions falling by more than 8 percent from 2010 to 2015. Companies the report said reduced emissions include Valero Energy Corp Dominion Resources and SSE Plc . . The Global 500 are "still in the hole and every day the hole is getting bigger, but there's some indication that they're starting to decouple their growth from emissions," Timothy Nixon, director of sustainability at Thomson Reuters and a co-author of the report, said about the companies. -Source: http://tmsnrt.rs/28YHeD0 (Reporting by Timothy Gardner) ((timothy.gardner@thomsonreuters.com; +1 202 898-8360)(Twitter @timogard)(; Reuters Messaging: timothy.gardner.thomsonreuters.com@reuters.net)) Keywords: CARBON REPORT/BRIEF.  Full Article

SSE CEO calls CMA's energy market reforms "tough set of measures"
Friday, 24 Jun 2016 

Sse Plc : Notes today's publication by competition and markets authority (cma) of final report in gb energy market investigation and will continue to assess detail as it emerges . CEO says "It is a tough set of measures but we recognise where it will help drive energy market forward to better deliver for customers" . "We hope to see other companies doing same so industry can move on and put its energy into delivering for customers." ."We will continue to engage constructively as we undertake substantial implementation work in months ahead".  Full Article

UK energy regulator consults on SSE's revised pricing and connection plans
Wednesday, 22 Jun 2016 

Sse Plc : Ofgem consults on commitments from sse . Ofgem's investigation identified competition concerns relating to sse's behaviour in providing services needed to enable it and its competitors' to connect up new development sites. . Sse has agreed to put in place new processes and procedures to ensure consistency in its pricing and when identifying points of connection to its electricity distribution networks. .Ofgem considers that these commitments will meet competition concerns that have been raised..  Full Article

Npower forces Innogy to cut profit outlook, shares tumble

FRANKFURT German energy company Innogy on Wednesday trimmed its operating profit forecast for 2017, citing a persistently difficult market environment for npower, its ailing British retail energy supply business.