Edition:
India

SSE Affirms FY View, To Close Fiddler's Ferry Station By March 2020


Thursday, 18 Jul 2019 

July 18 (Reuters) - SSE PLC ::TRADING STATEMENT.SSE'S OUTLOOK FOR FINANCIAL YEAR 2019/20 REMAINS UNCHANGED FROM OUTLOOK GIVEN IN MAY 2019.LOWER THAN FORECAST RENEWABLE ENERGY OUTPUT IN FIRST THREE MONTHS.RE-ITERATES SSE'S INTENTION TO RECOMMEND A FULL-YEAR DIVIDEND OF 80 PENCE PER SHARE FOR 2019/20.EARLY MONTHS OF OUR FINANCIAL YEAR HAVE BROUGHT SOME SHORT-TERM CHALLENGES AND SOME ENCOURAGING LONGER-TERM DEVELOPMENTS- CEO.OUTLOOK FOR ADJUSTED FY OPERATING PROFIT INCLUDES SUSPENDED CAPACITY MARKET PAYMENTS TOTALLING £148M.GROUP ADJUSTED NET FINANCE COSTS AND GROUP CAPITAL AND INVESTMENT EXPENDITURE IN 2019/20 CONTINUE TO BE IN LINE WITH THAT SET OUT IN MAY.IN JUNE SSE ANNOUNCED PROPOSALS TO CLOSE REMAINING OPERATIONAL CAPACITY OF 1,510MW AT FIDDLER'S FERRY.NOW IN CONSULTATION WITH EMPLOYEES AND TRADE UNIONS WITH A VIEW TO CLOSING FIDDLER'S FERRY STATION BY 31 MARCH 2020.IF FIDDLER'S FERRY IS CLOSED, SSE WILL CEASE BEING A GENERATOR OF ELECTRICITY FROM COAL.