SSE.L - SSE plc

Discussion in 'International Stock Markets' started by Marvan, Jun 27, 2019.

  1. Marvan

    Marvan Well-Known Member

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    SSE plc engages in the generation, transmission, distribution, and supply of electricity.

    The company operates through three segments: Wholesale, Networks, and Retail.

    It generates electricity from water, water, gas, coal, oil, and multi fuel.

    The company distributes electricity to approximately 3.8 million homes and businesses across the north of the central belt of Scotland and also central southern England; and owns and operates 132 kilovolts (KV), 275kV, and 400kV electricity transmission network using high voltage overhead lines, and underground and subsea cables.

    It also produces, stores, distributes, and supplies gas.

    In addition, it engages in electricity and utility contracting, telecommunications, energy trading, insurance, and property holding businesses, as well as provision of corporate and maintenance services.

    The company was formerly known as Scottish and Southern Energy plc and changed its name to SSE plc in September 2011.

    SSE plc was incorporated in 1989 and is based in Perth, the United Kingdom

    http://www.sse.com
     
  2. Marvan

    Marvan Well-Known Member

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  3. Marvan

    Marvan Well-Known Member

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    A Network for Net Zero
    Climate change Company news Keeping the lights on Electricity networks / 27/06/2019
    [​IMG]
    SSEN Transmission has published ambitious plans for the future of the north of Scotland electricity transmission system.

    With the region home to some of the UK’s greatest resources of renewable energy, SSEN Transmission will be at the forefront of the country’s fight to tackle climate change, connecting up more renewable energy and transporting it across the country.

    There is growing consensus of the need to fully decarbonise the economy to prevent the worst effects of global warming, with the UK Government committing to achieving net zero emissions by 2050 and the Scottish Government committing to meet this target five years earlier, in 2045.
    The draft Business Plan reflects this and follows substantial consultation with national and local stakeholders as well as SSEN Transmission’s independent expert RIIO-T2 User Group.


    ‘A Network for Net Zero’ aims to support both Governments’ targets and meet the needs and expectations expressed by stakeholders through five clear, ambitious goals:

    • Transport the renewable electricity that powers 10 million homes (circa 10 GW)
    • 100% network reliability for homes and businesses
    • Every connection delivered on time
    • One third reduction in SSEN Transmission’s greenhouse gas emissions
    • £100m in efficiency savings from innovation
    Rob McDonald, Managing Director for SSEN Transmission, said the plans were a blueprint for continued investment in the flexible, safe and secure, low carbon electricity network needed to help decarbonise the economy.

    He said: “Our network already supports over 6GW of clean power but continued investment in the electricity transmission system is key to unlocking the further potential the North of Scotland can play in meeting Governments’ targets for net zero greenhouse gas emissions.

    “Our ‘Network for Net Zero’ proposal is a balanced package that makes a powerful case for the vital investment needed to deliver the clean energy transition, reflecting the ambition our stakeholders have told us they want to see, at an affordable cost to consumers, whilst also providing a fair return to investors.”

    SSEN Transmission will now consult further with stakeholders ahead of submitting a final plan to Ofgem in December as part of its RIIO T2 price control process. As part of Ofgem’s consideration of the final plan, the regulator will consult with stakeholders during 2020 before determining what level of investment should be taken forward from 2021 through to 2026.

    In the draft Plan, SSEN Transmission’s ‘Certain View’ sets out that a minimum investment of £2.2bn is required over the five-year period to maintain and grow the north of Scotland transmission network to meet the certain needs of current and future electricity generators and customers.
    A significant proportion of this investment will take place in the north east, with a particular focus on accommodating the growth in offshore wind in the area.


    It is anticipated additional investment will be required to deliver the transition to net zero, but this investment will only be released once there is certainty it is needed – protecting billpayers.

    https://sse.com/newsandviews/allarticles/2019/06/a-network-for-net-zero/
     
  4. Marvan

    Marvan Well-Known Member

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    #4 Marvan, Jul 9, 2019
    Last edited: Jul 9, 2019
  5. Marvan

    Marvan Well-Known Member

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  6. Marvan

    Marvan Well-Known Member

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    Trading Update
    • Provides an overview of the performance of SSE's businesses in the first quarter of this financial year;
    • States that SSE’s outlook for the financial year 2019/20 remains unchanged from the outlook given in May 2019, despite lower than forecast renewable energy output in the first three months; and
    • Re-iterates SSE's intention to recommend a full-year dividend of 80 pence per share for 2019/20, in line with the five-year dividend plan set out in May 2018.
    https://sse.com/newsandviews/allarticles/2019/07/q1-2019-trading-update/
     
  7. Marvan

    Marvan Well-Known Member

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    Over the past 10 years SSE plc (LON:SSE) has grown its dividend payouts from £0.62 to £0.97.

    With a market cap of UK£11b, SSE pays out 72% of its earnings, leading to a 8.9% yield.

    Let me elaborate on you why the stock stands out for income investors like myself.

    What Is A Dividend Rock Star?
    It is a stock that pays a stable and consistent dividend, having done so reliably for the past decade with the expectation of this continuing into the future. More specifically:

    • It is paying an annual yield above 75% of dividend payers
    • It has paid dividend every year without dramatically reducing payout in the past
    • Its dividend per share amount has increased over the past
    • It can afford to pay the current rate of dividends from its earnings
    • It has the ability to keep paying its dividends going forward
    https://finance.yahoo.com/news/grab-sse-plc-lon-sse-045524878.html
     
  8. Marvan

    Marvan Well-Known Member

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    SSE Plc, one of Britain's big six energy suppliers, said it had agreed to sell its energy services unit to OVO Group for 500 million pounds ($617.6 million), including debt, as it looks to focus on renewable energy and electricity networks.

    Proceeds from the sale, which involves 400 million pounds in cash and 100 million pounds in loan notes, will be used to reduce SSE's net debt, the company said on Friday.

    https://finance.yahoo.com/news/sse-sell-energy-services-unit-063543951.html
     
  9. Marvan

    Marvan Well-Known Member

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  10. Marvan

    Marvan Well-Known Member

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    [​IMG]
    Dogger Bank Wind Farms, which is developing what will become the world’s largest offshore wind farm when built, has today unveiled GE Renewable Energy as its preferred turbine supplier.

    Under the new deal, GE Renewable Energy will supply Dogger Bank with its next generation of offshore technology, the ground-breaking Haliade-X turbine, bringing the world’s most powerful wind turbine to the world’s largest wind farm. The final number of turbines to be installed at Dogger Bank will be confirmed in due course.

    Dogger Bank Wind Farms is a 50:50 joint venture (JV) between Equinor and SSE Renewables. The overall wind farm comprises three 1.2GW projects located in the North Sea, approximately 130km from the UK’s Yorkshire Coast. The projects were recently successful in the latest Contracts for Difference (CfDs) Allocation Round, the UK Government’s auction for renewable power.

    SSE Renewables will lead the development and construction phases of Dogger Bank and Equinor will lead on operations once completed.

    https://sse.com/newsandviews/allart...urbines-to-be-used-by-dogger-bank-wind-farms/
     
  11. Marvan

    Marvan Well-Known Member

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    [​IMG]
    SSE Renewables is delighted to announce it has today, 20 September 2019, been successful in the UK’s third Contract for Difference (CfD) Allocation Round and is set to be awarded 15-year contracts for low carbon power from offshore wind at record low strike prices.

    Dogger Bank Wind Farms and Seagreen Phase 1 have secured CfDs for over 4GW (SSE share 2.2GW) of new renewable energy after a highly competitive auction. The strike prices of £39.65/MWh and £41.61/MWh show that offshore wind in particular is now one of the cheapest forms of electricity generation in the UK.

    These consented projects will now receive guaranteed revenue for the low carbon electricity they generate for a 15-year period from the 2023/24 or 2024/25 auction delivery year. Outside the 15-year period, they will be an important asset with significant earnings capacity.

    Today’s results enhance SSE Renewables’ position as the leading renewable energy company across the UK and Ireland.Once completed these projects will generate over 20TWh of green energy annually, equivalent to nearly 7% of the UK’s current energy demand, making a significant contribution to the UK’s net zero climate change targets and contributing to SSE Renewables’ goal of trebling renewable energy output by 2030.

    https://sse.com/newsandviews/allart...-secures-2-2gw-of-new-offshore-cfd-contracts/
     
  12. Marvan

    Marvan Well-Known Member

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    World’s largest jack-up installation vessel secured for Dogger Bank Wind Farms
    Renewables / 22/10/2019
    [​IMG]
    The world’s largest offshore wind farm, Dogger Bank Wind Farms, is delighted to welcome Jan De Nul’s Voltaire to the project.

    The Jan De Nul-owned Voltaire, a new offshore jack-up installation vessel, with a lifting capacity of over 3,000 tonnes and standing taller than the Eiffel tower, is the largest of its kind in the world.

    The Voltaire will transport and install the world’s largest offshore wind turbines, GE’s Haliade-X, at Dogger Bank, which sits 130km off the Yorkshire coast. When complete, Dogger Bank will generate enough energy to power over 4.5 million homes every year – around 5% of the UK’s electricity needs.

    The announcement today marks the first contract placed for Voltaire, which will enter in to service in 2022. The vessel, named after the pioneering European Enlightenment philosopher, is fitted with a highly advanced exhaust filtering system by means of a Selective Catalytic Reduction system and a Diesel Particulate Filter, making it the very first seagoing installation vessel of its kind to be an Ultra-Low Emission vessel.

    https://sse.com/newsandviews/allart...on-vessel-secured-for-dogger-bank-wind-farms/
     
  13. Marvan

    Marvan Well-Known Member

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    Scottish and Southern Electricity Networks (SSEN) Transmission welcomes today’s publication by Ofgem, in which the regulator makes clear its continued commitment to find a way forward to progress the Needs Cases for both the Shetland and Western Isles transmission links.

    Both Needs Cases and Ofgem’s subsequent minded-to positions were predicated on the successful award of a Contract for Difference (CfD) for sufficient volumes of new renewable electricity generation on each island group.

    Following the outcome of the 2019 CfD auction, around 240MW of remote island wind on the Western Isles was successfully awarded a CfD, which is less than the 369MW required to support the transmission investment case. For Shetland, no developer was successful in the auction, with the investment case predicated on the progression of Viking wind farm, with a capacity of 457MW.

    However, the potential that remote island wind developers may be able to progress without a CfD has already been publicly acknowledged. Viking wind farm has confirmed that it is still committed to developing its project on Shetland and if a way forward can be found to deliver the additional capacity required on the Western Isles, sufficient generation on both island groups will be established to demonstrate the need for both links.

    Today’s update letter published by Ofgem gives developers and SSEN Transmission the opportunity to demonstrate the continued need for the proposed links. This includes provision of alternative evidence to demonstrate generator commitment in the absence of sufficient generation securing a CfD.

    SSEN Transmission remains very confident that the proposed 600MW links remain the most economic and efficient solutions for each island group. These links accommodate all current contracted and consented generation on both island groups, with some additional capacity available for further developments.

    To provide the best possible opportunity for developers on the Western Isles, SSEN Transmission has made a proposal to Ofgem to address the regulators concerns that consumers may be paying for a potentially oversized link. This would allow for the progression of a 600MW link, subject to the establishment of at least 369MW of generation.

    SSEN Transmission also welcomes Ofgem’s commitment to publish a decision on SHEPD’s proposals to contribute financially towards the proposed transmission links and looks forward towards this timely publication, which will be a relevant consideration for developers.

    https://sse.com/newsandviews/allart...nt-to-shetland-and-western-isles-needs-cases/
     
  14. Marvan

    Marvan Well-Known Member

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    Utlitity SSE (LON:SSE) said its adjusted operating profit rose 14% to 492 million pounds ($630 million) in the first half of its fiscal year, boosted by the European Commission’s approval of payments from the U.K.’s electricity capacity market.

    Adjusted earnings per share were 18 pence, up 10%. The group said it expects full-year adjusted EPS of 80-85p, assuming normal generating conditions for its wind and hydro operations.

    The company cut its interim dividend 18% to 24p but said it expects a full-year dividend of 80p.

    Capital expenditure for the full year is now seen at 1.4 billion pounds.

    https://finance.yahoo.com/news/premarket-london-unilevers-chairman-sse-021500282.html
     
  15. Marvan

    Marvan Well-Known Member

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    SSE PUBLISHES 2019/20 HALF-YEAR FINANCIAL RESULTS
    Company news / 13/11/2019


    [​IMG]

    Energy firm SSE plc has called on political leaders to put renewable power front and centre of their plans to tackle climate change, as it released its Interim Results today.

    Alistair Phillips-Davies, SSE Chief Executive, says the next Government should go faster and harder on offshore and onshore wind in a bid to reach the UK’s Net Zero by 2050 targets.

    The most recent offshore wind auctions achieved record low prices and more projects could be built quickly to help decarbonise the UK’s power generation.

    Alistair Phillips-Davies said: “The climate emergency needs action now and offshore wind has proven itself to be one of the most cost effective ways this country can decarbonise and get on the road to Net Zero.

    “Coupled with lifting the moratorium on onshore, the next Government could deliver at least another 10GW of clean, green energy, before the end of its term – enough to power over seven million homes.

    “SSE is committed to investing in low carbon infrastructure and the next five years are critical if the UK is to take climate action.”

    In September, SSE won contracts to build the UK’s largest offshore wind farm to-date, at Doggerbank off the east coast of England. It will also build Scotland’s largest wind-farm, Seagreen, off the coast of Fife. Due to be completed in the mid 2020s, together they will support the UK in decarbonising its electricity generation of the future.

    In its Interim Results statement issued this morning, SSE said adjusting operating profit was up 14% to £491.9m, excluding its SSE Energy Services and gas production assets which are held for sale.

    Generally wet and windy weather since September has resulted in renewable output for the year slightly ahead of plan with SSE Renewables’ operating profit at £149.9m.

    Its energy networks business, SSEN, which keeps the lights on in central southern England and the north of Scotland, saw an 11% reduction in returns to £260.9m.

    In September SSE announced it was selling its retail business, SSE Energy Services to Ovo Energy. Its profits are excluded from SSE’s overall numbers as the business is held for sale. It made an adjusted operating loss of £7.4m. Gas and electricity customer accounts were at 5.6m as of 30 September 2019, representing the slowest rate of net losses in recent years.

    Headline results in line with Pre-Close Statement of 26 September and exclude SSE Energy Services and Gas Production assets:

    • Adjusted operating profit on continuing operations: £491.9m, up 14%
    • Reported operating profit/(loss) on continuing operations: £347.5m, versus £(184.6)m last year
    • Adjusted profit before tax on continuing operations: £263.4m, up 15%
    • Reported profit/(loss) before tax on continuing operations: £128.9m, versus £(284.6)m last year
    • Adjusted earnings per share on continuing operations: 18.0p, up 10%
    • Reported earnings/(loss) per share on continuing operations: 6.2p, versus (26.4p) last year
    Interim dividend in line with five-year dividend plan to 2023:

    • Interim dividend: 24 pence, down 18% reflecting dividend policy outlined in May 2018
    • Intention to recommend full-year dividend of 80 pence, with annual RPI growth in the three subsequent years
    Investment and capital expenditure in line with plan to 2023:

    • Capital and investment expenditure: £638.2m, down 19%
    • Includes £446.2m invested in regulated electricity networks and renewable energy
    • Full-year capital and investment expenditure still expected to be around £1.4bn
    • Adjusted net debt and hybrid capital: £10.3bn
    Results of discontinued operations

    • At 30 September 2019, SSE Energy Services continues to be classified as held for sale and the Group’s investment in Gas Production has also been classified as held for sale. Adjusted operating losses of the discontinued operations for the six months are £22.7m; reported operating losses are £511.8m (including £489.1m of impairment charges relating to SSE Energy Services) and the adjusted loss per share of the discontinued operations is 1.6p.
    Delivery against strategic priorities continuing:

    • Agreement to sell SSE Energy Services to OVO Energy Limited on course for completion in early 2020, subject to the necessary regulatory approvals
    • Strong, stakeholder-led RIIO T2 business plan to be submitted to Ofgem for close to £2.4bn totex investment in north of Scotland that could contribute to a Transmission RAV of around £5bn by 2026
    • SSE Renewables’ development capability confirmed by securing contracts for 2.2GW (SSE share) inCfD Allocation Round
    • Transition to lower carbon electricity generation confirmed by decision to close SSE’s last remaining coal-fired generation plant at Fiddler’s Ferry by March 2020.
    Updated capital and investment expenditure plan to be set out by May 2020.

    https://sse.com/newsandviews/allarticles/2019/11/-sse-publishes-2019-20-half-year-financial-results/
     
  16. Marvan

    Marvan Well-Known Member

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    Out at 1,512.00 GBp
     

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