Market sort of going side ways of late

But I'm amazed that this one has hardly moved up In the last week

30p divi due tomorrow.

Anyone else watching these?

A predictable drop of around 60p so far after going Ex.Divi today.

Now down -71p, recovery play anyone?

Finished down -70p at the close, will be interesting to see if there is a bounce tomorrow.

Stan - similar to last years ex divi?

Interim Management Statement

Operations

In the three months to 30 June 2012 (comparisons with the same three months in 2011, unless otherwise stated):

· SSE's Total Recordable Injury Rate was 0.13 per 100,000 hours worked, compared with 0.11 during 2011/12 as a whole;

· Networks: the number of Customer Minutes Lost in the Scottish Hydro Electric Power Distribution area was 17, compared with 16; in the Southern Electric Power Distribution area it was also 17, compared with 16;

· Networks: the amount of replacement and reinforcement gas mains laid by Scotia Gas Networks was 304km, compared with 263km;

· Retail: SSE's number of electricity and gas customer accounts in markets in Great Britain and Ireland increased from 9.55 million to 9.66 million, reflecting 130,000 customers gained through the completed acquisition of Phoenix Holdings Ltd on 23 June 2012;

· Retail: average consumption of electricity by SSE's household customers in Great Britain increased by almost 6%; average consumption of gas by SSE's household customers increased by 42%, reflecting cooler weather conditions (on a weather-corrected basis, however, there was an underlying reduction of 2.5% in average household gas consumption and no underlying change in average household electricity consumption);

· Wholesale: total electricity output* from gas-fired and coal-fired power stations was 5,690GWh, compared with 9,905GWh, reflecting planned outages at Keadby and Medway power stations;

· Wholesale: total electricity output* from renewable sources (conventional hydro electric schemes, onshore wind farms and dedicated biomass plant) was 1,331GWh, compared with 1,325GWh;

Interesting comparison Skinny (P143), worth keeping an eye on it IMHO.

Well no point in buying these today for a short term return with the Dow up over 200p is there?

Exodus at SSE as gas and electricity customers rush to beat price rises

Thousands of gas and electricity customers are leaving SSE in protest at the nine per cent price rise announced last month.

According to one online switching company, which monitors energy trends, up to 50,000 users have signed up with cheaper suppliers in the past three weeks. There are estimates that a further 20,000 could leave by the end of this week.

Mark Todd, marketing director at energyhelpline.com, said switching volumes from SSE, formerly Scottish & Southern Energy, were up 742 per cent since the price rise was announced on August 22.

Half Yearly Results

STRATEGY AND FINANCE

Delivering sustained real growth in the dividend

· Interim dividend up 5.0% to 25.2p per share

· Targeting full-year dividend increase of at least RPI +2% for 2012/13

· Targeting annual dividend increases above RPI inflation in 2013/14 and beyond

· Adjusted earnings per share* up 40.6% to 35.3p

· Adjusted profit before tax* up 38.3% from £287.4m to £397.5m (2010: £385.5m)

· Outlook for full-year adjusted profit before tax* to be provided in Q3 IMS, as planned

· Ongoing investment in new assets through six-month capital expenditure of £699.2m

· Adjusted net debt and hybrid capital up £298m to £7.054bn since 31 March 2012

· Medium/long-term funding, including hybrid capital, of £1.48bn secured at good rates

· Average debt maturity of 10.9 years

Ex dividend tomorrow 25.2p

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Haven't seen that MN, thanks for the alert.

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Interim Management Statement

SSE plc is on course to deliver an increase in the dividend per share and an increase in adjusted profit before tax for the financial year to 31 March 2013 and to achieve key operational and investment objectives.

This Interim Management Statement summarises SSE's performance since the start of the current financial year, which began on 1 April 2012, and includes updates on operations and investments in SSE's Networks, Retail and Wholesale businesses since the publication of its six-month results on 14 November 2012.

It also includes a financial outlook, and SSE is forecasting an increase of around 4% to 5% in adjusted profit before tax for 2012/13 and an increase of at least 2% more than RPI inflation in the full-year dividend, to around 84 pence per share.

Sale of wind farm capacity

SSE has agreed to sell four wind farms1 with a total generation capacity of 79.5MW to a new fund managed by Greencoat Capital2, for a total cash consideration of £140m. SSE will invest up to £43m of the consideration into shares in the new fund. In the event that the fund is over subscribed, SSE's investment in the fund will reduce.

NOTIFICATION OF CLOSE PERIOD


SSE plc will enter its close period from 1 April 2013, prior to the publication on Wednesday 22 May of its financial results for the year to 31 March 2013.

Developments since publication of IMS
Since the publication of its Interim Management Statement (IMS) on 31 January 2013, SSE has:

· launched a Customer Service Guarantee under which it promises to meet a new set of energy supply customer service commitments or give customers £20 off their next bill;
· announced that a total of 30,180 shareholders elected to receive the interim dividend for the year ended 31 March 2013 of 25.2 pence per ordinary share in respect of 327,303,253 ordinary shares in the form of Scrip dividend, resulting in a reduction in interim dividend cash funding of £82.5 million;
· set out updated plans for the operation of, and investment in, capacity for generating electricity at its thermal power stations that will result, amongst other things, in 2,000MW of existing capacity ceasing operation during 2013/14; and
· completed the sale of four wind farms with a total generation capacity of 79.5MW to a new fund managed by Greencoat Capital for a total cash consideration of £140m, and taken a £10m stake in the new fund.

OFGEM FINES SSE £10.5 MILLION FOR MISSELLING

OFGEM FINES SSE £10.5 MILLION FOR MISSELLING

· Ofgem found SSE failures at every stage of the sales process
· SSE management failures led to prolonged and extensive misselling
· Proposed SSE fine is largest ever imposed on an energy supplier

Exane BNP Paribas Outperform 0.00 1,620.00 1,620.00 Reiterates

Deutsche Bank Hold 0.00 1,400.00 1,400.00 Reiterates

Citigroup Sell 0.00 1,270.00 1,270.00 Retains

Preliminary Results

CHAIRMAN'S STATEMENT

"In consecutive weeks in the early spring of 2013, SSE confronted two of the biggest issues it has had to face since it was formed in 1998. The last week of March saw extreme snow falls and ice in the west of Scotland which inflicted unprecedented damage on the electricity network on Arran and Kintyre. Over 500 engineers and other employees from the company were deployed to help restore electricity supplies to households, businesses and other premises, working closely with a wide range of authorities and agencies. This was SSE at its best.

"The first week of April saw the Gas and Electricity Markets Authority propose a £10.5m penalty on SSE for breaches of licence conditions in relation to sales of electricity and gas, mainly between 2009 and 2011, which SSE accepted immediately. Like everyone else associated with SSE I have no hesitation in apologising unequivocally for the breaches that occurred; but while the breaches were clearly wrong, the response has been absolutely right.

"SSE has undertaken major reform of its Retail operations since 2011, including introducing at the end of that year a sales guarantee to make good any financial loss experienced by customers joining SSE, and launching earlier this year the industry's first-ever customer service guarantee, backed by a financial commitment. This is now SSE at its best too.

"A generally good performance in 2012/13 has enabled SSE to extend its unbroken record of annual increases in the full-year dividend and in adjusted profit before tax*. This ability to deliver consistently increases in the full-year dividend and in adjusted profit before tax shows the resilience inherent in its balanced model of economically-regulated and market-based energy businesses and the robustness of its strategy of focusing on operations and investments in each of those businesses.

"A carefully-maintained balanced business model and a clear strategic emphasis on operations and investments, including learning lessons from the past to improve performance in the future, have been consistent features of SSE since the company was formed in 1998. The other consistent feature of the company has been the first financial objective of its business model and strategy: to deliver sustained real growth in the dividend payable to shareholders.

"Throughout this time, Ian Marchant has been a remarkably successful finance director and then chief executive of SSE. He is the first to acknowledge, however, how much he owes to Alistair Phillips-Davies and Gregor Alexander and SSE is fortunate indeed to have these two very able and experienced executives, and a very strong management team generally, to take forward the business after Ian, having completed an exceptional decade as chief executive, steps down at the end of next month.

"While there will be a change of chief executive in the company, and while the energy sector is subject to change driven by regulation, legislation, technology, demand for natural resources and the needs of customers, there are four things at SSE that won't change: the balanced business model; the focus on operations and investment; the dedication to customer service; and the commitment to sustained real growth in the dividend in the years ahead."

Lord Smith of Kelvin
Chairman, SSE plc

Ex-divi wed 31st July (59p)