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SSE reaffirms FY24 adjusted earnings per share guidance of more than 150 pence, noting a narrower range of probable financial outcomes for the full-year following lower than planned renewables output over the quarter.

SSE Renewables output over the first three quarters was around 15% below plan, or 10% below plan relative to full year, having been impacted by a combination of mixed weather conditions, short-term plant outages and rephasing of flexible hydro output into the fourth quarter. January has seen continued mixed weather conditions for the renewables fleet.

In SSE Thermal, performance continues to reflect lower spark spreads and market volatility when compared to the same period last year. However, the business is still expected to deliver its guidance of more than £750m adjusted operating profit, including more than £75m from Gas Storage, for FY24.

The Group's final full-year earnings outturn remains subject to factors such as plant availability, supportive market conditions and normal weather across the remainder of the fourth quarter. SSE will provide an update on performance for the final months of the year in its Notification of Closed Period statement.

The Group remains on course to deliver adjusted investment and capital expenditure of around £2.5bn in FY24.

BullDog wrote:Thanks. Another pound or two off and SSE might be worth buying again.

SSE plc was notified on 14 February 2023 that a total of 24,793 shareholders have elected to receive the interim dividend for the year ended 31 March 2024 of 20 pence per ordinary share in respect of 43,945,946 ordinary shares in the form of Scrip dividend. This will result in a reduction in interim dividend cash funding of £8,789,189.

A total of 493,654 new ordinary shares, fully paid, will be issued on 8 March 2024, representing an increase of 0.05% on the issued share capital (excluding treasury shares) on the dividend record date of 12 January 2024. The relevant Scrip Reference Share Price was 1,779 pence per ordinary share.

SSEN Transmission, part of leading electricity infrastructure company SSE, welcomes today's publication by National Grid ESO (the ESO) of its 'Beyond 2030' report.

Today's publication builds on the ESO's 'Pathway to 2030' Holistic Network Design from 2022 which established the blueprint for the electricity transmission network infrastructure required to enable the UK Government's 2030 50GW offshore wind target, which included around 11GW of ScotWind generation.

The 'Beyond 2030' plan will connect another tranche of ScotWind whilst also setting out options to deliver the remainder. It will also enable the connection of other low carbon technologies, further supporting the country's transition to net zero and helping deliver energy security through the deployment of homegrown, low carbon electricity generation.

​SSE today updates the market that it expects full-year 2023/24 adjusted earnings per share to be between 152 - 160 pence. This narrower range is consistent with previous guidance of more than 150 pence, and reflects renewables output 13% below plan for the year to 21 March 2024 as well as SSE Thermal delivering adjusted operating profit of more than £750m.

The Group remains on track to report full-year 2023/24 capital expenditure of around £2.5bn, as it continues to progress its high-quality project pipeline. This is underpinned by a strong balance sheet, with adjusted net debt and hybrid capital expected to be around £9.5bn at 31 March 2024.

In the longer term, the Group continues to focus on the delivery of the investment, operational and financial growth targets as set out in the Net Zero Acceleration Programme Plus. This includes reaffirming the target of 175 - 200 pence adjusted earnings per share for 2026/27.

The full-year Results presentation and Q&A session will be conducted virtually on 22 May 2024.

Delivered investment of £2.5bn in critical national energy infrastructure, including:

o Construction starting on Eastern Green Link 2 subsea transmission cable, the largest in the UK;

o Full power at Seagreen, the world's deepest fixed bottom offshore wind farm;

o Progressing the world's largest wind farm, with Dogger Bank A turbine installations continuing;

o Final commissioning under way on both Viking onshore wind farm and Shetland HVDC link.

And later;

Final Dividend In Line With Growth-Enabling Plan

· Intention to recommend a final dividend of 40.0p for payment on 19 September 2024, making the full year dividend 60p per share in line with growth aligned dividend plan.