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SSE (SSE)

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daveh
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Re: SSE (SSE)

#277523

Postby daveh » January 15th, 2020, 8:30 am

Dod101 wrote:That sale will certainly help SSE whose finances could do with a bit of support and it removes a thorn in the side of SSE. I do not hold SSE.

As a customer of SSE I am less happy though, although my lights are still on at the moment!

Dod


I too am an SSE customer (and shareholder), not the cheapest, but they provided good service, were/are contactable on the phone and no billing problems or the like that weren't easily sorted with a phone call.


I think that reporting power cuts and the like will remain for me with SSE as the network provider in my area. It will be interesting to see if OVO provide as good customer service as SSE have in the past - SSE were always near the top of the customer satisfaction tables. If not I can always move supplier.

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Re: SSE (SSE)

#277532

Postby PinkDalek » January 15th, 2020, 9:07 am

maximan wrote:[SSE Energy Services will be sold for an enterprise value of £500m comprising £400m in cash and £100m in loan notes. ...


That cash element is before deduction of the £59million referenced earlier in the thread.

Dod101
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Re: SSE (SSE)

#277536

Postby Dod101 » January 15th, 2020, 9:17 am

In view of the relatively small numbers involved in this sale, I suspect the benefit to SSE is the removal of a more or less non profitable sector, complete with the price cap and a lot of admin. They are transferring 8,000 employees!

Dod

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Re: SSE (SSE)

#277591

Postby idpickering » January 15th, 2020, 12:13 pm

A reminder that SSE are ex dividend tomorrow for the 24p per share interim. I don't hold this share anymore, and am not tempted to buy into them again tbh.

Ian.

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Re: SSE (SSE)

#277775

Postby Wizard » January 16th, 2020, 9:04 am

idpickering wrote:A reminder that SSE are ex dividend tomorrow for the 24p per share interim. I don't hold this share anymore, and am not tempted to buy into them again tbh.

Ian.

I am interested as to why you would not be tempted to return to SSE Ian? I know you sold out when there was a lot of concern about Labour's nationalisation policy, but that is surely not an issue now.

idpickering
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Re: SSE (SSE)

#277779

Postby idpickering » January 16th, 2020, 9:12 am

Wizard wrote:
idpickering wrote:A reminder that SSE are ex dividend tomorrow for the 24p per share interim. I don't hold this share anymore, and am not tempted to buy into them again tbh.

Ian.

I am interested as to why you would not be tempted to return to SSE Ian? I know you sold out when there was a lot of concern about Labour's nationalisation policy, but that is surely not an issue now.


Morning Wizard, for me they’ve always seemed to be an unreliable HYP share, and the recent dividend cut highlighted that fact even more. There are better shares out there imho.

Ian.

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Re: SSE (SSE)

#281292

Postby idpickering » January 31st, 2020, 7:11 am

SSE issues 2019/20 Q3 Trading Statement

Key developments since interim results
•SSE’s final Transmission business plan for the RIIO-T2 price control was submitted in December, with proposals for £2.4bn of total expenditure, which would take potential RAV to over £5bn by 2026.
•In December, Ofgem announced its decision in principle to endorse SSEN Distribution’s proposal to contribute financially towards the proposed electricity transmission links to Shetland, Western Isles and Orkney. Based on current assumptions, this would be around £250m for Shetland, and SSEN Transmission has re-submitted its Needs Case for the proposed Transmission link to Shetland.
•Also in December, the Queen’s Speech included enhanced ambitions for offshore wind and carbon capture, usage and storage, which should present opportunities for SSE’s renewables and thermal businesses. Good progress is being made on SSE Renewables’ offshore wind projects with the first ‘ground-breaking’ at Dogger Bank on 17 January 2020 and several Tier 1 preferred supplier agreements signed in relation to both Dogger Bank and Seagreen.
•SSE Renewables has also taken the final investment decision to proceed with the construction of an additional 11 turbines (up to 38MW) at Gordonbush onshore wind farm.
•On 15 January 2020, SSE completed the sale of its Energy Services business to OVO Energy Limited, meaning SSE is no longer involved in supplying energy and energy services to households in GB.
•SSE is on course to cease production at its last coal-fired generation plant at Fiddlers Ferry by the end of March 2020.
•Work is continuing on the sale of gas production assets although a transaction will not be completed in FY2019/20.


https://sse.com/newsandviews/allarticle ... statement/

RNS here; https://www.investegate.co.uk/sse-plc-- ... 00035003B/

idpickering
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Re: SSE (SSE)

#294646

Postby idpickering » March 27th, 2020, 7:27 am

UPDATE BEFORE END OF FINANCIAL YEAR

SSE plc's financial year ends on 31 March 2020, and prior to the publication of full year results, SSE is providing the following update, in accordance with its published financial calendar.

SSE's over-riding priority at this time is to play its part in supporting the safe and reliable supply of electricity, at local, regional and national level, on which the people and organisations whose work is critical to the Covid-19 response depend.

SSE is in regular dialogue with government authorities and other stakeholders across the UK and Ireland, and has taken a wide range of practical steps in line with government guidance on tackling Covid-19. These are designed to enable it to deliver on its core responsibilities and carry out essential operations while protecting employees and supporting customers during this difficult time.


https://www.investegate.co.uk/sse-plc-- ... 00067914H/

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Re: SSE (SSE)

#294676

Postby 77ss » March 27th, 2020, 8:52 am

idpickering wrote:UPDATE BEFORE END OF FINANCIAL YEAR

SSE plc's financial year ends on 31 March 2020, and prior to the publication of full year results, SSE is providing the following update, in accordance with its published financial calendar.

SSE's over-riding priority at this time is to play its part in supporting the safe and reliable supply of electricity, at local, regional and national level, on which the people and organisations whose work is critical to the Covid-19 response depend.

SSE is in regular dialogue with government authorities and other stakeholders across the UK and Ireland, and has taken a wide range of practical steps in line with government guidance on tackling Covid-19. These are designed to enable it to deliver on its core responsibilities and carry out essential operations while protecting employees and supporting customers during this difficult time.


https://www.investegate.co.uk/sse-plc-- ... 00067914H/


And the dividend? A somewhat reassuring statement (but no certainties of course):

The Covid-19 outbreak started in the UK and Ireland late in SSE's financial year and the wider economic impact of it in the UK and Ireland has not so far had any material impact on SSE's financial results for 2019/20; and so the Board still intends to recommend a full-year dividend of 80 pence per share for 2019/20.

It will, however, continue to monitor the impact of Covid-19 on the wider economy and SSE. If the economic impact results in significant adverse effects on SSE's businesses, the Board's responses may include reconsidering the timing of dividend payments, should it be in the long-term interests of the company.

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Re: SSE (SSE)

#314833

Postby idpickering » June 3rd, 2020, 3:48 pm

Seagreen Offshore Wind Farm

SSE Renewables has reached financial close on its Seagreen 1 offshore wind project. Located in the Firth of Forth, Seagreen 1 will be Scotland's largest wind farm once complete. Its capacity will be 1,075MW, and it will generate around 5,000GWh annually.

In September 2019, SSE Renewables secured a 15-year contract with the Low Carbon Contracts Company (LCCC) through the UK Government's Contract for Difference (CfD) auction for 454MW of Seagreen 1 at a strike price of £41.61/MWh (in 2012 prices) in the delivery year 2024/25.

The LCCC-contracted capacity represents around 40% of the total project capacity. An additional c. 30% of the project will be contracted with the SSE Group. Across the Group, SSE is well positioned to optimise the route to market for its renewable output, including through developing opportunities to meet its customers' growing demand for long-term fixed price green power.


https://www.investegate.co.uk/sse-plc-- ... 32168651O/

idpickering
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Re: SSE (SSE)

#318980

Postby idpickering » June 17th, 2020, 7:15 am

Preliminary results for the year ended 31 March 2020

Here; https://www.investegate.co.uk/sse-plc-- ... 00051649Q/

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Re: SSE (SSE)

#318981

Postby idpickering » June 17th, 2020, 7:22 am

Final Investment Decision Viking Onshore Wind Farm

SSE has approved a final investment decision for the 103-turbine, 443MW Viking onshore wind farm, in a step which will help to drive forward a green economic recovery after the coronavirus lockdown. Located in Shetland, Viking is wholly owned by SSE Renewables having been developed in partnership with Viking Energy Shetland.

Viking will harness the excellent wind conditions in Shetland which result in an estimated load factor of around 48%. Once built it will be the largest onshore wind farm in the UK in terms of annual electricity output, which is expected to be around 1.9TWh each year, therefore playing a vital role in contributing towards the UK and Scotland's net-zero targets.

SSE now awaits the outcome of the consultation on Ofgem's minded-to position to approve a 600MW transmission connection from Shetland to the GB mainland, expected in July 2020. Final approval from Ofgem was conditional on Viking wind farm reaching a positive final investment decision which this announcement confirms. The transmission connection is critical for Viking to proceed.


https://www.investegate.co.uk/sse-plc-- ... 00051653Q/

With Shetland being just up the road (by sea) from us, so to speak, as we live in Orkney, I can confirm just how windy it gets up here. :D

Ian.

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Re: SSE (SSE)

#321932

Postby shetland » June 26th, 2020, 10:29 pm

I have held this for many years but it is now about to be sold.

idpickering
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Re: SSE (SSE)

#322100

Postby idpickering » June 27th, 2020, 4:33 pm

shetland wrote:I have held this for many years but it is now about to be sold.


That's a shame. Would you care to expand on your reasoning? And what are you buying instead?

Ian.

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Re: SSE (SSE)

#323777

Postby shetland » July 4th, 2020, 7:15 pm

idpickering wrote:
shetland wrote:I have held this for many years but it is now about to be sold.


That's a shame. Would you care to expand on your reasoning? And what are you buying instead?

Ian.


I am moving away from individual shares and various assorted funds and IT’s to a portfolio of global growth ITs and funds with some global trackers and some satellites in areas I want to be overweight such as Asia Pacific and Healthcare.

idpickering
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Re: SSE (SSE)

#323779

Postby idpickering » July 4th, 2020, 7:22 pm

shetland wrote:
idpickering wrote:
shetland wrote:I have held this for many years but it is now about to be sold.


That's a shame. Would you care to expand on your reasoning? And what are you buying instead?

Ian.


I am moving away from individual shares and various assorted funds and IT’s to a portfolio of global growth ITs and funds with some global trackers and some satellites in areas I want to be overweight such as Asia Pacific and Healthcare.


Thanks for your reply. I wish you well with your investments.

Ian.

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Re: SSE (SSE)

#324748

Postby idpickering » July 9th, 2020, 7:47 am

SSE RESPONSE TO OFGEM DRAFT DETERMINATION OF RIIO-T2 PRICE CONTROL

Scottish and Southern Electricity Networks Transmission (SSEN Transmission), the wholly-owned subsidiary of SSE plc, is disappointed and deeply concerned by today's publication of Ofgem's Draft Determination for the RIIO-T2 price control period.

Unfortunately, based on an initial assessment, SSEN Transmission believes the approach set out in Ofgem's Draft Determination fundamentally fails to deliver on net zero, inadequately reflects stakeholder and customer needs, and falls short in seeking to attract the significant investment required.

The Draft Determination, subject to an eight week formal consultation and ongoing dialogue, sets out Ofgem's initial view of SSEN Transmission's RIIO-T2 Business Plan, 'A Network for Net Zero'.


https://www.investegate.co.uk/sse-plc-- ... 11075192S/

88V8
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Re: SSE (SSE)

#325073

Postby 88V8 » July 10th, 2020, 9:52 am

idpickering wrote:... inadequately reflects stakeholder and customer needs.....

The govt seems obsessed with cutting a few quid off utility bills. Mrs May's £100.
Politicians seem unable to understand that they no longer own the utilities. They just love to interfere and tinker.

It's apparent from announcements that 'excessive' dividends will be a target.
I really think that utilities are no longer investable.
Holding SSE, but not for much longer.
Humphhh!

V8

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Re: SSE (SSE)

#325129

Postby idpickering » July 10th, 2020, 11:34 am

88V8 wrote:
idpickering wrote:... inadequately reflects stakeholder and customer needs.....

The govt seems obsessed with cutting a few quid off utility bills. Mrs May's £100.
Politicians seem unable to understand that they no longer own the utilities. They just love to interfere and tinker.

It's apparent from announcements that 'excessive' dividends will be a target.
I really think that utilities are no longer investable.
Holding SSE, but not for much longer.
Humphhh!

V8


Thanks for your input. I’ve not long since brought SSE back on board my HYP, as I hunted for dividend paying shares. I’m topping up my holdings in these next week, just a small top up. Thereafter they’ll be a long term hold. I agree regarding your comment above by the way. Not a great HYP share, but good enough will have to do.

Ian.

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Re: SSE (SSE)

#325139

Postby Bouleversee » July 10th, 2020, 12:12 pm

And there was I thinking that now Corbyn was out of the picture, things would look up for the utilities (with some notable exceptions) and they would be a safe, long-term, income-producing investment.


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