Archive
SSE to boost UK energy storage capacity with new hydrogen facility
SSE Thermal's new facility will produce and store hydrogen, which will be used to generate power to meet excess demand
Company
SSE PLC
LON:SSE
SSE PLC, formerly Scottish and Southern Energy PLC, is a holding company. The company is involved in the generation, transmission, distribution and supply of electricity; the production, storage, distribution and supply of gas, and the provision of other energy-related services.
342 stories · page 2 of 4
Offshore wind projects offer 'increasingly questionable' return spreads, says Citi
The scale of value creation from renewable investments "remains unclear", analysts believe, given the higher capex and higher cost of capital
Outlook for SSE, Centrica and Drax is 'materially derisked' by autumn statement, say analysts
Analysts said the shares of the three companies offer "positive earnings momentum at attractive valuations, with opportunities for value creation in a volatile energy environment"
Archive
FIVE at FIVE: Tax rises inbound; Harland & Wolff's titanic contract; FTSE 100; Asda egg rationing; SSE profits soar
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Archive
SSE profits hit by renewables performance but still manages bumper pay-out
The FTSE 100-listed generator posted a pre-tax loss on a reported basis but strong growth in adjusted earnings and rewarded shareholders with a healthy increase in the dividend
SSE to tread carefully with interim results as 'windfall tax' looms: Wednesday's agenda
Results from SSE, CMC Markets as well as Consumer Price Index figures
Archive
SSE's future looks favourable - broker
UBS analysts expect SSE to report earning four times higher than last year, with the future looking bright for the energy company
Archive
Renewable generators might face energy profits levy instead of revenue cap
A levy extension plus tax breaks might be a solution analysts believe
Archive
SSE in good spot even with revenue cap, says analyst
Energy prices are set to remain over £400/MWh into 2023 especially benefitting SSE, says analyst
Archive
Energy revenue cap lacks crucial price detail, according to analysts
A revenue cap on low-carbon energy generators has been confirmed
Archive
Green backlash over government's energy revenue cap plans
SSE, one of the UK’s largest renewable electricity generators, said investment would be badly affected
Archive
Cap on energy industry profits might come this week, suggests Citi
Government plans to cap revenues for renewable power generators
Archive
SSE will complete £125mln buy-back programme by end of year
The FTSE 100 power generation group announced the programme on August 30th in line with its strategy to cap the scrip dividend option at 25% of investor take-up
Archive
SSE expects profits to surge but shares fall on plans to invest it all
The power company said it is investing "at record levels, ahead of profits"
Archive
SSE and Centrica buoyed as threat of windfall tax recedes
FTSE 250-listed Drax saw the best of the gains, rising 6% to 697p.
Archive
National Grid lays out £54bn plan to upgrade Britain's wind power network
The power network operator expects to deliver 50GW of offshore wind power - a third of the UK's energy demand - and create 168,000 jobs by 2030
Auctioned wind power an eighth of the price of wholesale gas
Day-ahead wholesale power is currently trading for more than £300 on the open market, compared to the £37 on offer from the latest auction for offshore wind contracts
SSE, Simec and Iberdrola among winners from the UK's latest renewable energy auction
Many of the project winners’ share prices were up this morning
Archive
Will renewables plug the energy crisis?
Believe it or not, renewables undercut gas on price, making them cheaper than any other power source, and they’re coming for your market share
Archive
SSE, Equinor buy gas plant operator Triton to keep the lights on this winter
The energy supplier said the deal forms part of its Net Zero Acceleration Programme to invest £12.5bn in the UK electricity infrastructure by 2026
Archive
Rail strike the latest bone of contention between Johnson and Sunak
Differences might delay package of measures to alleviate soaring fuel and household costs
Archive
SSE guides to higher earnings and investment in current year
The former Scottish and Southern Energy invested a record £2.1bn in the past year and expects to up capital expenditure and investment to at least £2.5bn this time
Archive
Clean power shares hit as Chancellor may extend windfall tax to all energy firms
Treasury officials have been asked to work out plans for a windfall tax on more than £10bn of excess profits to all electricity generators
Archive
SSE buys Siemens Gamesa Renewable Energy for €580mln to bolster renewable assets
The acquisition marks SSE's entry into Southern Europe
SSE upgrades earnings guidance after stronger winds and Ukraine invasion
The company said it included “a number of attractive options to support accelerated electrification of the economy
Archive
SSE in a 'sweet spot' according to US bank Citi
“SSE is well-positioned to benefit from any long-term acceleration of energy transition"
UK govt awards power contracts at record prices to help keep lights on next winter
National Grid said the capacity market auction was completed at a record high of £75 per kW per year
Archive
SSE upgrades profit forecast on strong thermal performance
The power company expects to report full-year adjusted earnings per share of at least 90p, up from its previous guidance of 83p
Archive
SSE presses button on final phase of world's largest wind farm development
Dogger Bank C has a capacity of 1,200MW and will generate enough to supply 5% of the UK's demand
Archive
SSE's network distribution company plans to invest £4bn and create 850 jobs in 2023-28
SSEN Distribution provides electricity to over 4.1 million homes and businesses in Scotland and also Central Southern England
Archive
SSE rejects activist break-up call and increases renewable spending by £1bn a year
The investment marks a major acceleration said the power generator to the equivalent of £7mln per day
Archive
SSE sells stake in offshore wind farm Dogger Bank to Italy’s Eni
Once the three phases are complete, which is expected by March 2026, Dogger Bank will generate enough renewable electricity to supply 5% of the UK's demand
Archive
National Grid and SSE disappointed over UK watchdog electricity costs ruling
A portion of the appeal was upheld by the CMA, with the outperformance wedge based on past performance scrapped
Archive
Ofgem launches investigation into SSE Generation and EP SHB
The investigations will examine whether either of the companies failed to comply with the requirements of condition 20A of the Electricity Generation Standard Licence Conditions
Archive
SSE taps into Japanese offshore wind market
SSE Renewables will buy 80% of an offshore wind development platform from local developer Pacifico Energy for US$208mln
Archive
AstraZeneca on the rise after ‘ground-breaking’ breast cancer trial results
A look at Monday's major share movers in the London market
SSE dismisses breakup speculation
Papers have been predicting a separation of its three segments after activist hedge fund Elliott Management built up a stake
Archive
Elliott Management pushing for breakup of SSE - report
The activist hedge fund has been meeting privately with representatives from SSE, as well as some of its major shareholders, Bloomberg reported
Archive
FTSE 100 sees August's gains disappear in a single day .. but some stocks remain winners
Miners and fund managers have been the big losers this month but who have been the winners?
SSE eyed as possible takeover target as activist builds stake - report
Elliott Management has reportedly amassed a stake in the energy giant, leading some in the City to predict the investor will push for a potential break-up or buyout
Archive
SSE offloads Scotia Gas stake for £1.26bn
SSE initially acquired a 50% equity share in SGN in 2005 for a total of £505mln
Archive
FTSE 100 closes well off day's peak as Dow Jones drifts from highs; FTSE 250 index stars
At the close, the UK blue-chip index was 49.42 points, or 0.7% higher at 7,087.80, below the day’s peak of 7,111.66 but above the session low
Archive
UK to get first 100% major hydrogen-fuelled power station
Increased hydrogen has been agreed by Norway's Equinor to fuel the power station near Hull
Archive
SSE dividend edges higher as switch to green energy gathers speed
Power generated during the year fell by 3% while sales to business tumbled 23%
Archive
Britain to triple number of electric vehicle charging points with £300mln programme
The £300mln investment will see 1,800 new motorway points and 1,750 installations in other places
Investments trends in the next quarter: What to watch for
Worries are now centred on growth, inflation and rising bond yields
Archive
Ofgem cuts electricity distributors returns by a third in green power push
Network charges on consumers bills will be reduced by 9%.said the regulator
Archive
SSE sees £200mln coronavirus hit to profits
The power firm reckons it will meet financial expectations if the weather remains stable over the next three months
SSE offloads gas assets to Viaro Energy for £120mln
SSE will still have to pay 60% decommissioning costs of the portfolio
Archive
Ofgem confirms tighter controls coming for local grid networks
The new RIIO-ED2 price controls framework for 14 DNOs will increase flexibility and digitalisation says Ofgem
Archive
UK sets world’s highest environmental target with 68% emissions cut by 2030
Westminster said the path to meeting the new target is backed by the recently announced 10-point plan, but critics say policies need to be ramped up
Archive
SSE sells minority stake in world’s largest wind farm to Eni
The transaction has lifted the FTSE 100 power firm's full-year adjusted earnings per share expectations
Archive
SSE achieves financial close for two-thirds of world’s largest wind farm
This chunk of the project, developed with Equinor, costs £6bn
Archive
SSE offloads energy-from-waste projects for £995mln cash
Proceeds from its disposals programme are to be used as part of plans to invest £7.5bn in low-carbon energy infrastructure over the next five years as well as reducing net debt
Archive
FTSE 100 ends underwater; US traders still waiting for stimulus news
An attempt at getting back to square one over the lunchtime session fizzled out and losses are now lengthening
Archive
FTSE 100 little changed, potential US coronavirus stimulus delivers small spike
Traders pumped the brakes on Rolls-Royce after the company announced plans to raise £3 billion to bolster its balance sheet,
Archive
SSE becomes first power company fined for failing to publish inside information
The £2.1mln fine imposed by Ofgem related to the signing on March 16, 2016, by SSE of an agreement with National Grid to provide a 'black start' emergency capability
Archive
SSE gives early dividend indication despite lower renewables output in first quarter
The renewable energy group said it was continuing work on its disposal programme
Archive
Energy companies furious as regulator proposes halving their profits to pay for infrastructure upgrade
The proposed cuts would see a £20 reduction in household bills every year according to Ofgem
Archive
SSE trims dividend, announces new decarbonisation investment plan
Operating profits from the firm's continuing businesses rose by 37% but reported profits were hit by charges on discontinued operations and the coronavirus pandemic
Archive
Ovo Energy to cut thousands of jobs following acquisition of SSE retail business
The UK’s second biggest energy supplier said the coronavirus pandemic had ”accelerated changing consumer behaviour" and “permanently reduced the demand for some functions and roles”
Archive
SSE falls despite commitment to pay dividend
Broker RBC said the visibility of future payouts is an issue for investors
Archive
FTSE 100 closes deeply in red but up on week as sterling's surge hits
Britain's index of premier shares finished down over 305 points at 5,510
Archive
US House to approve $2trn support package on Friday, eyes also on SSE dividend plans
SSE said in January that expected to pay a dividend of 80p per share expected for the current year
Archive
SSE blows hot on dividends but wind energy behind plan
The energy company noted that government policy as outlined in the Queen's speech included ambitions for offshore wind and carbon capture, usage and storage, which it said “should present opportunities for SSE's renewables and thermal busin
Archive
FTSE 100 closes down 1.3% as January ends on sour note
Britain's blue-chip benchmark index finished down around 95 points lower, or 1.3%, at 7,286, going below 7,300 for the first time in seven weeks
Archive
Friday to bring sense of finality as week, month and Brexit conclude
The UK will exit the EU and 11pm on Friday, although there will not be a 'Big Ben Bong' to mark the occasion
Archive
Ovo Energy hit with £8.9mln fine for use and billing errors
Earlier this month, the group paid £500mln for SSE’s retail business in a move that took its customers base to 5mln
Archive
SSE completes retail business sale to OVO
The proceeds, coming in the form of £400mln in cash and a £100mln loan note, will be used to cut debt
Archive
SSE is 'potential takeover target' after renewables repositioning, says Goldman
Goldman Sachs downgraded the FTSE 100 energy group to a ‘neutral’ rating from ‘buy’, though lifted its target price to 1,461p from 1,369p
Archive
SSE tipped as a post-election 'buy' by HSBC
HSBC upped the target price to 1,510p from 1,480p as the government has a Conservative majority
Archive
SSE gets green light to sell retail business to OVO
SSE’s discontinued businesses posted a loss of £512mln in its latest half-year including £489mln of asset write-downs.
Archive
Npower plans £500mln restructuring to tackle tough retail energy market
The retail energy market continues to be "particularly challenging" in the UK, said German owner E.ON
Archive
SSE swings back to profit as retail sale on track for “early 2020” sale
For the six months to 30 September, swung back to a reported profit of £128.9mln from losses of £284.6mln a year ago
SSE to sell household supply business to Ovo in £500mln deal
The deal comes after the collapse of a planned merger between SSE and Npower’s retail arms last year.
Archive
SSE confirms it is in talks with Ovo Group over the possible sale of SSE Energy Services
SSE will provide no further comment on the discussions until a conclusion to them has been reached.
Archive
FTSE 100 closes in red Thursday as ECB update underwhelms
There were mixed messages in Mario Draghi's update on Thursday
Archive
Day ahead preview: Unilever, National Express, Diageo, ECB
With a slew of corporate earnings and the European Central Bank's policy decision, Thursday will be a busy day of news
Investments and investor services
FTSE 100 joins other global markets to head lower as trade fears linger
The UK's blue-chip benchmark index closed out around 42 points lower at 7,493
Archive
SSE ticks higher as it reiterates outlook and dividend plan despite challenges in first months of 2019
Alistair Phillips-Davies, SSE’s CEO, said that despite “some short-term challenges”, the key months for the FTSE 100 energy firm still lay ahead
Archive
Easyjet profit warning and Royal Mail's turnaround update eyed
Along with easyJet, there are also company updates due from Royal Mail and Anglo American, plus UK retail sales data
Investments and investor services
FTSE 100 closes lower on day but up slightly on week as trade tensions still weigh
The UK's index of leading company shares closed Friday down nearly 23 points at 7,345
Archive
SSE plans to close its last coal-fired power station
Fiddler’s Ferry power station has become less economically viable in recent years due to national and international policies to promote lower-carbon forms of electricity generation
Shell shows way forward for dividends as other blue chips cut their cloth
Oil major guides to total dividends and share buy-backs of US$125bn “or more” between 2021 and 2025
Archive
SSE confirms dividend plans and listing of UK retail business
Katie Bickerstaffe will start as the new executive chair of SSE Energy Services next month “with a mandate to deliver a new future for the business outside of the SSE group”
Archive
FTSE 100 closes slightly ahead but Wall Street shares slide
The Footsie closed out at 7,334 - up around five points, while mid-cap index was firmly lower- down 129 points at 19,307
Archive
Inflation figures to lead macro news on Wednesday, Royal Mail braces for full year figures
Economists are expecting the consumer price index to be well below the recent growth in average earnings at around 1.8% year-on-year in April
High FTSE yields point to 'dividend slaves' that may cut payouts
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Investments and investor services
FTSE 100 ends in positive territory, taking the cue from the Dow and data from China
"Equities have been relentlessly positive all day, with the session having started off on the front foot thanks to Chinese credit growth, which rose 10.7% over the year to hit a sum equivalent to 9% of the country’s GDP," said Chris Beaucha
Archive
SSE fined £700,000 by energy regulator Ofgem for missing target to install gas smart meters last year
Under the government's smart-meter roll-out programme, suppliers are legally required to take all reasonable steps to roll out smart meters to all homes and businesses by the end of 2020
Archive
SSE expects significant reduction in Wholesale unit profits business but still plans to raise full-year dividend
In a pre-close season trading update, the FTSE 100-listed electricity provider said it expects its adjusted earnings per share to be in a range of 64-69p, nearly half the 121.1p it reported a year earlier
Archive
SSE to pay over £705,000 in redress after overstating costs of FIT payments
SSE will pay the money to the Feed-in-Tariffs (FIT) levelisation fund after overstating the costs incurred in making payments to eligible low carbon generators.
Archive
Malvern International jumps as it forecasts 100% revenue increase for 2018
In a trading update, the education firm said revenues from continuing operations would be over £8mln, while profits were expected to be in line with expectations
Archive
Proactive news snapshot: Anglo African Oil & Gas, Clinigen Group, Norman Broadbent …
A glance at some of the day's highlights from the Proactive Investors newswire
Greencoat UK Wind says gross issue proceeds of £131mln raised from placing announced on February 1
Following the receipt of the proceeds and completion of the Stronelairg and Dunmaglass acquisitions, the company said it should have £794mln of outstanding debt
Archive
FTSE 100 closes up as markets buoyed by US/China trade talks
The more UK-company focused FTSE 250 gained over 147 points to close at 18,972
Archive
SSE warns on profits after surprise EU court ruling on UK capacity market
Under the UK capacity market scheme, the government pays power firms extra money to ensure a reliable supply of electricity during times of peak demand but it was suspended in November after the EU ruled it is an illegal form of state aid
Investments and investor services
FTSE 100 joins the decline in global equities to close lower
There is not a lot of earnings news on either side of the Atlantic to drive markets higher
Archive
SSE’s update on Friday could make for some unpleasant viewing
Struggles in its wholesale division hit half-year profits back in November, and investors will want to see what the options are after SSE’s recent failure to merge its retail business with Innogy