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SSE PLC (SSE.L)

SSE.L on London Stock Exchange

1,309.00GBp
15 Nov 2019
Change (% chg)

2.50 (+0.19%)
Prev Close
1,306.50
Open
1,311.00
Day's High
1,315.00
Day's Low
1,291.50
Volume
2,046,948
Avg. Vol
3,721,412
52-wk High
1,335.00
52-wk Low
997.80

Latest Key Developments (Source: Significant Developments)

SSE Renewables Appoints Nexans As Preferred Supplier For Seagreen Offshore Wind Farm
Monday, 4 Nov 2019 

Nov 4 (Reuters) - SSE RENEWABLES ::APPOINTED NEXANS AS PREFERRED SUPPLIER TO DESIGN, SUPPLY, INSTALL ONSHORE & OFFSHORE EXPORT CABLE FOR SEAGREEN OFFSHORE WIND FARM.  Full Article

UK's Ofgem Publishes Final Decision On Electricity Distribution Funding Requests
Friday, 18 Oct 2019 

Oct 18 (Reuters) - UK's OFGEM::OFGEM PUBLISHES FINAL DECISION ON ELECTRICITY DISTRIBUTION FUNDING REQUESTS.UK'S OFGEM - REFUSED AROUND £258 MILLION FOR PROJECTS THAT IT CONSIDERS ARE NOT JUSTIFIED OR PROVIDE POOR VALUE FOR MONEY.OFGEM - ALLOWED £64M OF FUNDING REQUESTS BY ELECTRICITY DISTRIBUTION NETWORK COS TO INVEST IN SITE SECURITY, STREET WORKS & RAIL ELECTRIFICATION.UK'S OFGEM - REQUESTS APPROVED INCLUDE £45 MILLION TO FUND STREET WORKS ACTIVITIES BY FIVE NETWORK COS.UK'S OFGEM - REQUESTS APPROVED INCLUDE £16 MILLION TO SSEN FOR DIVERSIONS REQUIRED TO FACILITATE THE ELECTRIFICATION OF THE GREAT WESTERN RAILWAY LINE.UK'S OFGEM - REQUESTS APPROVED INCLUDE £3 MILLION TO NPG TO INVEST IN SITES THAT REQUIRE PHYSICAL SITE SECURITY UPGRADES.UK'S OFGEM - REQUESTS OFGEM REFUSED INCLUDE £30 MILLION REQUEST FROM SSEN FOR CABLE REPLACEMENT AT PENTLAND FIRTH EAST.OFGEM - REQUESTS REFUSED INCLUDE£70 MILLION SOUGHT BY SPEN FOR CABLE REPAIRS AS OFGEM CONSIDERS THAT LEVEL OF INVESTMENT REQUESTED IS NOT JUSTIFIED.OFGEM - REQUESTS REFUSED INCLUDE £42 MILLION REQUEST FROM SPEN FOR WORK TO INCREASE NETWORK CAPACITY IN ANTICIPATION OF ELECTRIC VEHICLE UPTAKE.  Full Article

SSE Announces Non-Discretionary Share Buyback Programme
Monday, 30 Sep 2019 

Sept 30 (Reuters) - SSE PLC ::INSTRUCTED MORGAN STANLEY AND CREDIT SUISSE ON AN IRREVOCABLE, NON-DISCRETIONARY PROGRAMME TO REPURCHASE ITS SHARES FOR CANCELLATION.PROGRAMME WILL NOT EXCEED 13.4 MILLION ORDINARY SHARES, AND MAXIMUM PECUNIARY AMOUNT ALLOCATED TO IT IS £150 MILLION.  Full Article

SSE Says Currently Expects FY Adj EPS Around 85p-90p
Thursday, 26 Sep 2019 

Sept 26 (Reuters) - SSE PLC ::FIRST-HALF PROPORTION OF ADJUSTED OPERATING PROFIT IN 2019/20 IS LIKELY TO BE AROUND 20% OF FULL YEAR TOTAL.OVERALL OUTLOOK DESCRIBED IN MAY 2019 AND JULY 2019 IN RELATION TO ADJUSTED OPERATING PROFIT FOR 2019/20 REMAINS LARGELY UNCHANGED.CURRENTLY EXPECTS ITS ADJUSTED EARNINGS PER SHARE FOR 2019/20 TO BE AROUND 85P-90P.IS MAKING GOOD PROGRESS WITH PLANNED DISPOSAL OF ITS INTERESTS IN GAS PRODUCTION.GAS PRODUCTION SEGMENT IS LIKELY TO BE DEEMED TO BE HELD FOR SALE IN SSE'S FINANCIAL STATEMENTS.FULLY COMMITTED TO RECOMMENDING A FULL-YEAR DIVIDEND OF 80P AS PART OF OUR FIVE-YEAR DIVIDEND PLAN TO MARCH 2023.SAYS "WORKING TO MITIGATE ECONOMIC, REGULATORY AND POLITICAL UNCERTAINTIES ARISING FROM BREXIT PROCESS WILL CONTINUE TO BE A KEY PRIORITY FOR SSE".SSEN ELECTRICITY DISTRIBUTION'S FY ADJUSTED OPERATING PROFIT IS NOW EXPECTED TO BE AROUND £25M LOWER THAN FIRST FORECAST, AT AROUND £375M.90% OF EXPECTED £115M +/-£15M ENERGY PORTFOLIO MANAGEMENT LOSS TO BE INCURRED IN H1 OF FINANCIAL YEAR.CONTINUING SUSPENSION OF CAPACITY MARKET MEANS SSE IS UNABLE TO RECOGNISE OUTSTANDING CAPACITY MARKET PAYMENTS.  Full Article

SSE Announces Results Of Dogger Bank Wind Farms CFD Allocation
Friday, 20 Sep 2019 

Sept 20 (Reuters) - SSE PLC ::SSE PLC - DOGGER BANK WIND FARMS BEEN INFORMED THAT IT HAS BEEN SUCCESSFUL IN UK'S THIRD CONTRACT FOR DIFFERENCE (CFD) ALLOCATION ROUND.SSE PLC - SSE RENEWABLES HAS A 50% STAKE IN DOGGER BANK WIND FARMS AS PART OF A JOINT VENTURE WITH EQUINOR.SSE PLC - DOGGER BANK WIND FARMS SET TO BE AWARDED CONTRACTS TOTALLING 3,600MW UNDER CFD ALLOCATION ROUND.SSE PLC - UNDER CFDS SOME PROJECTS WILL RECEIVE GUARANTEED REMUNERATION FOR 15 YEARS FOR LOW CARBON ELECTRICITY THEY GENERATE.  Full Article

SSE Announces Results Of Seagreen CFD Allocation
Friday, 20 Sep 2019 

Sept 20 (Reuters) - SSE PLC ::SSE - SSE RENEWABLES INFORMED SEAGREEN PHASE 1 OFFSHORE WIND PROJECT SUCCESSFUL IN UK'S THIRD CONTRACT FOR DIFFERENCE ALLOCATION ROUND.SSE PLC - SSE RENEWABLES INFORMED ITS SEAGREEN PHASE 1 OFFSHORE WIND PROJECT SET TO BE AWARDED A CONTRACT FOR LOW CARBON POWER.SSE PLC - SEAGREEN PHASE 1'S TOTAL PLANNED INSTALLED CAPACITY IS 1,075MW AND IT IS EXPECTED TO GENERATE AROUND 5,000GWH ANNUALLY.SSE - PLANS IN PLACE TO PROGRESS FINANCING AND AN EQUITY STAKE SELL-DOWN TO MOVE TOWARDS A FINAL INVESTMENT DECISION IN 2020 FOR SEAGREEN PHASE 1.SSE PLC - SEAGREEN PHASE 1 HAS BEEN SUCCESSFUL IN SECURING A 15-YEAR CFD, STRIKE PRICE OF £41.61/MWH.  Full Article

SSE PLC Announces Deal To Sell SSE Energy Services To OVO
Friday, 13 Sep 2019 

Sept 13 (Reuters) - SSE PLC ::SSE PLC - AGREEMENT TO SELL SSE ENERGY SERVICES TO OVO.SSE PLC - PROPOSED DEAL FOR AN ENTERPRISE VALUE OF £500M COMPRISING £400M CASH AND £100M IN LOAN NOTES .SSE PLC - COMPLETION OF TRANSACTION IS EXPECTED IN LATE 2019 OR EARLY 2020 AND IS SUBJECT TO NECESSARY REGULATORY APPROVALS.SSE PLC - ON COMPLETION, NET CASH PROCEEDS OF THIS TRANSACTION WILL BE USED TO REDUCE SSE'S NET DEBT..SSE PLC - AS PART OF TRANSACTION AN AMOUNT OF £59M WILL BE DEDUCTED FROM CASH CONSIDERATION REFLECTING DEBT LIKE ITEMS.SSE PLC - SSE AND OVO HAVE AGREED A 'LOCKED BOX MECHANISM' WITH A DATE FOR TRANSFER OF ECONOMIC INTEREST OF 30 JUNE 2019.SSE PLC - SSE WILL CONTINUE TO PROVIDE CERTAIN SERVICES TO OVO UNDER A TRANSITIONAL SERVICES AGREEMENT.SSE - SOME DEFINED BENEFITS PENSION LIABILITIES OF SSE ENERGY SERVICES, MAY TRANSFER FROM SSE PENSION SCHEMES TO NEW SSE ENERGY SERVICES PENSION SCHEME.SSE PLC - SSE WILL ALSO CONTINUE TO SUPPLY ENERGY TO BUSINESS CUSTOMERS IN GB AND TO BUSINESS AND HOUSEHOLD CUSTOMERS IN NORTHERN IRELAND AND IRELAND.  Full Article

SSE PLC says on discussions relating to possible sale of SSE Energy Services
Monday, 12 Aug 2019 

Aug 12 (Reuters) - SSE PLC ::STATEMENT ON SSE ENERGY SERVICES.ACTIVELY PROGRESSING A NUMBER OF OPTIONS FOR FUTURE OF SSE ENERGY SERVICES.CONFIRMS IT IS IN DISCUSSIONS WITH OVO GROUP OVER POSSIBLE SALE OF SSE ENERGY SERVICES BUSINESS.NO FINAL DECISIONS HAVE BEEN TAKEN AND NO AGREEMENTS REGARDING TERMS OF ANY TRANSACTION HAVE BEEN ENTERED INTO.  Full Article

UK's Ofgem Consults On Network Funding Requests
Friday, 2 Aug 2019 

Aug 2 (Reuters) - SSE PLC ::OFGEM SSE PLC SCOTTISH PWR.UK PLC - OFGEM CONSULTS ON NETWORK FUNDING REQUESTS.OFGEM - NETWORK COMPANIES HAVE SUBMITTED 12 FUNDING REQUESTS WITH A TOTAL VALUE OF £322 MILLION.OFGEM - IS CONSULTING ON ITS PROPOSAL TO ALLOW NETWORK COMPANIES TO RECOVER APPROXIMATELY £75 MILLION.OFGEM - PROPOSES TO ALLOW ADDITIONAL £16 MILLION IN FUNDING TO SSEN FOR DIVERSIONS REQUIRED TO FACILITATE ELECTRIFICATION OF GREAT WESTERN RAILWAY LINE.OFGEM - PROPOSE NOT TO ACCEPT A £42 MILLION REQUEST FROM SPEN FOR WORK TO INCREASE NETWORK CAPACITY IN ANTICIPATION OF ELECTRIC VEHICLE UPTAKE.  Full Article

Capital Group Companies Cuts Stake To 4.7% From 9.9% In SSE - Filing
Monday, 22 Jul 2019 

July 22 (Reuters) - SSE PLC ::CAPITAL GROUP COMPANIES CUTS STAKE TO 4.7% FROM 9.9% IN SSE PLC - FILING.  Full Article

UPDATE 1-UK Stocks-Factors to watch on Oct. 24

Oct 24 Britain's FTSE 100 index is seen opening 8 points lower at 7,253 on Thursday, according to financial bookmakers, with down 0.07% ahead of cash market open.