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United Kingdom

SSE PLC (SSE.L)

SSE.L on London Stock Exchange

1,135.50GBp
4:37pm BST
Change (% chg)

6.50 (+0.58%)
Prev Close
1,129.00
Open
1,131.50
Day's High
1,138.50
Day's Low
1,118.00
Volume
2,199,684
Avg. Vol
2,870,997
52-wk High
1,449.50
52-wk Low
1,026.50

Latest Key Developments (Source: Significant Developments)

Ofgem Says SSE Pays 700,000 Stg After Missing Gas Smart Meter Target
Wednesday, 3 Apr 2019 

April 3 (Reuters) - OFGEM::OFGEM- SSE PAYS £700,000 AFTER MISSING GAS SMART METER TARGET.OFGEM- SSE IS TO PAY OUT £700,000 AFTER IT MISSED ITS TARGET TO INSTALL GAS SMART METERS FOR CUSTOMERS IN 2018..OFGEM- SUPPLIERS ARE REQUIRED BY LAW TO TAKE ALL REASONABLE STEPS TO ROLL-OUT SMART METERS TO ALL HOMES AND SMALL BUSINESSES BY END OF 2020.OFGEM- SSE MET ITS ELECTRICITY SMART METERS INSTALLATION TARGET FOR 2018, BUT MISSED ITS GAS TARGET.OFGEM- SSE REACHED ITS GAS TARGET FOR 2018 IN FEBRUARY THIS YEAR, LESS THAN TWO MONTHS AFTER DEADLINE.OFGEM- DUE TO STEPS SSE HAS TAKEN, OFGEM HAS DECIDED NOT TO TAKE FORMAL ENFORCEMENT ACTION.  Full Article

SSE Refinances 1.3 Bln Stg Revolving Credit Facility
Friday, 29 Mar 2019 

March 29 (Reuters) - SSE PLC ::SSE PLC - £1.3BN REVOLVING CREDIT FACILITY REFINANCED.SSE PLC -FACILITY PROVIDED BY A GROUP OF TEN BANKS FOR A NEW 5 YEAR PERIOD, TO EXTEND MATURITY DATE FROM JULY 2022 TO MARCH 2024.SSE PLC -FACILITY PROVIDED BY A GROUP OF TEN BANKS FOR A NEW 5 YEAR PERIOD, WITH OPTIONS TO EXTEND TO MARCH 2026.  Full Article

SSE To Buyback Shares Worth 50 Mln Stg
Thursday, 28 Mar 2019 

March 28 (Reuters) - SSE PLC ::SSE PLC - NON-DISCRETIONARY SHARE BUYBACK PROGRAMME.SSE PLC - CREDIT SUISSE TO REPURCHASE ITS ORDINARY SHARES FOR CANCELLATION UP TO VALUE OF £50 MILLION IN TOTAL BETWEEN 29 MARCH 2019 AND 22 MAY 2019.SSE PLC - THESE ARRANGEMENTS FORM PART OF COMPANY'S CAPITAL RETURN PROGRAMME ANNOUNCED ON 1 FEBRUARY 2019.  Full Article

SSE Expects Proceeds Of Over 1 Bln Stg From Asset Disposals For 2018/19
Thursday, 28 Mar 2019 

March 28 (Reuters) - SSE PLC ::NOTIFICATION OF CLOSED PERIOD.EXPECTS THAT IT WILL DELIVER FOR 2018/19 A FULL-YEAR DIVIDEND OF 97.5 PENCE PER SHARE.SSE'S ADJUSTED CURRENT TAX RATE FOR 2018/19 IS STILL FORECAST TO BE LESS THAN 1% DUE TO REDUCTION IN ADJUSTED PROFIT BEFORE TAX.IN LINE WITH SSE'S PLANS FOR DIVIDEND SET OUT IN MAY 2018, SSE STILL EXPECTS DIVIDEND TO BE SET AT 80 PENCE PER SHARE FOR 2019/20.SEES CASH PROCEEDS OF OVER £1BN FROM VALUE-CREATING ASSET DISPOSALS FOR 2018/19.SEES CAPITAL AND INVESTMENT EXPENDITURE TOTALLING AROUND £1.7BN FOR 2018/19.SEES NET DEBT AND HYBRID CAPITAL OF AROUND £9.5BN ON 31 MARCH 2019.  Full Article

SSE To Close One Of Four Units At Fiddler's Ferry
Tuesday, 19 Mar 2019 

March 19 (Reuters) - SSE PLC ::SSE PLC - SSE TO CLOSE ONE OF ITS FOUR UNITS AT FIDDLER'S FERRY.SSE PLC - PLC BOARD HAS AGREED TO IT CLOSING UNIT 1 (485MW) AT FIDDLER’S FERRY..SSE PLC - REMAINING THREE UNITS AT FIDDLER’S FERRY ALL HAVE CAPACITY MECHANISM CONTRACTS AND WILL CONTINUE TO OPERATE AS NORMAL.SSE PLC - SSE WILL CONTINUE TO REVIEW THE LONG TERM FUTURE FOR THE STATION.  Full Article

Ofgem Says SSE Plc Pays Out 705,000 Stg Over FIT Misreporting
Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - OFGEM : :OFGEM SSE PLC - SSE PAYS OUT £705,000 OVER FIT MISREPORTING.UK'S OFGEM - SSE WILL PAY £455,705 IN INTEREST TO FIT LEVELISATION FUND AND £250,000 TO OFGEM'S VOLUNTARY REDRESS FUND OVER INCORRECT SUBMISSIONS.UK'S OFGEM - SSE OVERSTATED GENERATION PAYMENTS IN ITS FEED-IN TARIFF (FIT) ANNUAL SUBMISSIONS TO OFGEM DUE TO AN ADMINISTRATIVE ERROR.UK'S OFGEM - SSE REPORTED ERROR TO OFGEM AND HAS PAID BACK OVERPAYMENT.OFGEM - RECOMMENDED ACTIONS TO IMPROVE SSE'S FIT REPORTING PROCESSES AND REDUCE RISK OF FUTURE NON-COMPLIANCE, WHICH SSE IS CURRENTLY IMPLEMENTING.  Full Article

SSE to sell stake in Stronelairg and Dunmaglass windfarms to Greencoat
Friday, 1 Feb 2019 

Feb 1 (Reuters) - SSE PLC ::SSE PLC - SALE OF STAKE IN STRONELAIRG AND DUNMAGLASS.SSE PLC - PROPOSED DEAL FOR TOTAL CONSIDERATION IS £635M.SSE PLC - AGREEMENT TO SELL A 49.9% STAKE IN ITS STRONELAIRG AND DUNMAGLASS WIND FARMS TO GREENCOAT UK WIND PLC.SSE PLC - SSE WILL CONTINUE TO OPERATE BOTH ASSETS WHILE FUTURE DEVELOPMENT RIGHTS ARE IN LINE WITH EQUITY SHARE.SSE PLC - INTENDS TO USE UP TO £200M OF PROCEEDS TO FUND A DISCRETIONARY SHARE BUYBACK.SSE PLC - BUYBACK IS EXPECTED TO COMMENCE BEFORE TRANSACTION COMPLETES.SSE PLC - PROCEEDS FROM STAKE SALE WILL ALSO BE USED TO REDUCE NET DEBT.  Full Article

Greencoat to buy stake in Stronelairg and Dunmaglass windfarms from SSE
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Greencoat UK Wind PLC ::GREENCOAT UK WIND PLC - ACQUISITION OF 35.5% OF STRONELAIRG AND DUNMAGLASS WIND FARMS AND PROPOSED PLACING TO RAISE UP TO £131 MILLION.GREENCOAT UK WIND PLC - UKW WILL ACQUIRE A NET 35.5% STAKE IN WIND FARMS FOR A CONSIDERATION OF £452M (INCLUDING CASH AND WORKING CAPITAL).GREENCOAT UK WIND PLC - MANAGED ACCOUNT WILL ACQUIRE A NET 14.4% FOR £183M IN WIND FARMS.GREENCOAT UK WIND PLC - SSE WILL CONTINUE TO HOLD REMAINING 50.1% IN WIND FARMS.GREENCOAT UK WIND PLC - SSE WILL CONTINUE TO OPERATE BOTH WIND FARMS WITH VESTAS.GREENCOAT UK WIND PLC - PROCEEDS FROM PLACING WILL BE USED TO REPAY OR REDUCE FUTURE DRAW DOWNS UNDER COMPANY'S REVOLVING CREDIT FACILITY.GREENCOAT UK WIND PLC - PROCEEDS FROM PLACING WILL BE USED TO REPAY OR REDUCE FUTURE DRAW DOWNS UNDER COMPANY'S REVOLVING CREDIT FACILITY.  Full Article

SSE To Sell 50 Pct Share Of Enterprise Telecoms Business For 380 Mln Stg
Friday, 21 Dec 2018 

Dec 21 (Reuters) - SSE PLC ::SSE PLC - SSE TELECOMS TRANSACTION.SSE PLC - AGREED TO SELL A 50% SHARE OF ITS SSE ENTERPRISE TELECOMS BUSINESS (SSEET) TO INFRACAPITAL FOR A TOTAL CONSIDERATION OF UP TO £380M.SSE PLC - CASH PROCEEDS OF TRANSACTION WILL BE USED TO REDUCE SSE'S NET DEBT.SSE PLC - CONSIDERATION COMPRISES: . £215M (LESS A SMALL ADJUSTMENT FOR WORKING CAPITAL), TO BE PAID ON COMPLETION OF TRANSACTION.SSE PLC - CONSIDERATION COMPRISES OF UP TO £85M DEFERRED CONSIDERATION BASED ON SSEET ACHIEVING CERTAIN BUSINESS OBJECTIVES.SSE PLC - COMPLETION IS EXPECTED TO BE BY END OF JUNE 2019 AT LATEST.SSE PLC - CONSIDERATION COMPRISES OF UP TO £80M PAID IN SERIES OF INSTALMENTS IN 5-YEAR TO 2024, BASED ON FINANCIAL TARGETS FOR OUT-PERFORMANCE.  Full Article

SSE Not To Proceed With Retail Tie-Up With Innogy
Monday, 17 Dec 2018 

Dec 17 (Reuters) - SSE PLC ::SSE ENERGY SERVICES TRANSACTION NOT PROCEEDING.SSE BOARD HAS DETERMINED IT IS NOT IN BEST INTERESTS OF STAKEHOLDERS TO PROCEED WITH PROPOSED SSE ENERGY SERVICES/NPOWER TRANSACTION.SSE AND INNOGY SE UNABLE TO REACH AGREEMENT ON REVISED COMMERCIAL TERMS.SSE ENERGY SERVICES EXPECTED TO BE PROFITABLE AND CASH FLOW-POSITIVE IN 18/19 AND 19/20.DECIDED THAT OTHER OPTIONS FOR SSE ENERGY SERVICES SHOULD NOW BE CONSIDERED, INCLUDING A STANDALONE DEMERGER.OTHER OPTIONS FOR SSE ENERGY SERVICES TO BE CONSIDERED ALSO INCLUDE LISTING ON EITHER PREMIUM OR STANDARD LISTING SEGMENT OF OFFICIAL LIST.OTHER OPTIONS FOR SSE ENERGY SERVICES TO BE CONSIDERED ALSO INCLUDE A SALE OR AN ALTERNATIVE TRANSACTION.NOW DOES NOT BELIEVE NEW COMPANY FROM SSE-INNOGY DEAL WOULD BE ABLE TO MEET TRADING COLLATERAL REQUIREMENTS IN A SUSTAINABLE WAY.DOES NOT BELIEVE NEW CO FROM SSE-INNOGY DEAL WOULD BE CAPABLE OF LISTING ON PREMIUM SEGMENT OF OFFICIAL LIST AND MAIN MARKET OF LSE.DEAL WITH INNOGY IMPACTED BY FACTORS INCLUDING PERFORMANCE OF RESPECTIVE BUSINESSES, CLARITY ON FINAL LEVEL OF DEFAULT TARIFF CAP.  Full Article

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More British energy customers switch supplier in first-quarter despite price cap

LONDON The number of British customers switching energy supplier in the first quarter of 2019 rose by 12 percent compared with the same period last year, data from industry group Energy UK showed, despite a government price cap which began in January.