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?

Nearly there.........

Disposal of Hampshire data centre

SSE plc today (1 October) agreed the sale of its Hampshire data centre to SCC, for a total consideration estimated to be £12 million, subject to capital adjustment and provision of transition services for a period of three months.

Credit Suisse Outperform 1,514.50 1,514.00 1,600.00 1,600.00 Reiterates

Another try for 1600p coming up? All a bit frustrating, though trend seems to be in the right direction now.

OFGEM SETS OUT FUNDING PLANS FOR £1 BILLION TRANSMISSION SUBSEA LINK

Ofgem has today set out proposals to allow £1.1 billion funding for a new subsea link in the north of Scotland. The regulator's proposal is £173.9 million less than the funding request from Scottish Hydro Electricity Transmission (SHE Transmission) to ensure consumers pay no more than necessary.

The new link will connect 1.2GW of new renewable electricity generation following completion in 2018. This additional capacity will increase the resilience of Britain's energy infrastructure. It will connect the electricity grid on either side of the Moray Firth.

The proposals are now under consultation for four weeks. Final decision on funding will be made in December.

Half Year Results Wednesday 12 November 2014.

This time last year is difficult to compare but the sp was generally falling off a cliff. The Nov figures weren't that great (·Adjusted profit before tax* fell by 11.7% to £354.0m; Adjusted earnings per share* fell by 17.4% to 29.4 pence.). Will be interesting to see what happens but think I may bail out with a small profit before the figures are released.

I'm undecided - but still hoping for another assault on £16 (NG having another bash @£9 today).

The most recent broker notes :-

24 Oct RBS Capital Markets Sector Performer 1,551.50 1,580.00 1,580.00 Reiterates

24 Oct Credit Suisse Outperform 1,551.50 1,600.00 1,600.00 Reiterates

Approaching make your mind up time!

I had an auto sell command on the system at 1571p, which seems to have triggered so am out for now with a little profit and the last divi.

EDIT: Far too early, though last time I tried to sell, it didn't reach my target price!

Credit Suisse Outperform 1,562.00 1,562.00 1,600.00 1,700.00 Reiterates

Deutsche Bank Hold 1,562.00 1,562.00 1,340.00 1,340.00 Reiterates

Half Yearly Report

For the six months to 30 September 2014 (comparisons with the same six months in 2013, unless otherwise stated):

· Adjusted earnings per share* rose by 5.8% to 31.1 pence;
· Adjusted profit before tax* rose by 4.6% to £370.3m;
· Reported profit before tax fell by 6.2% to £316.6m;
· Investment and capital expenditure fell by 15.5% to £679.3m;
· Adjusted net debt and hybrid capital rose by £185.6m to £7,907m; and
· Interim dividend increased by 2.3% to 26.6 pence per share.

*Adjusted profit before tax describes profit before tax before exceptional items and re-measurements arising from IAS 39, excluding interest costs on net pension scheme liabilities and after the removal of taxation on profits from joint ventures and associates
In addition, on 15 October 2014, Standard and Poor's affirmed SSE's 'A-/A-2' ratings and improved the rating outlook from negative to stable.

Finance - business-by-business operating profit
For the six months to 30 September 2014 (comparisons with the same period in 2013, unless otherwise stated); operating profit is before payment of interest and tax:

Wholesale - operating profit of £26.7m, down 83.4%

· Energy Portfolio Management and Electricity Generation operating profit fell by 86.3% to £11.8m, reflecting lower output of electricity from renewable and thermal sources;
· Gas Production operating profit fell by 80.7% to £13.3m, reflecting lower day ahead prices achieved for gas produced over the summer; and
· Gas Storage operating profit fell by 69.2% to £1.6m; this business continues to be affected by smaller seasonal differentials in gas prices.

Networks - operating profit of £ 458.4m, up 4.7%

· Electricity Transmission operating profit rose by 46.3% to £98.9m, reflecting the continuing major investment in the asset base, resulting in higher income;
· Electricity Distribution operating profit fell by 7.0% to £215.7m, reflecting the lower number of electricity units distributed, the adjustment for last year's over-recovery of £25m of revenue and additional costs incurred; and
· Gas Distribution - SSE's share of Scotia Gas Networks' operating profit rose by 4.1% to £143.8m, reflecting progress in delivering innovation and efficiencies as well as the timing of revenue collection.

Retail - operating profit of £37.3m, compared with an operating loss of £71.4m#

· Energy Supply recorded an operating loss of £16.9m, which was smaller than the loss in 2013 due to a number of factors including lower energy purchasing costs, but which were partly offset by the impact of milder weather;
· Energy-related Services operating profit fell by 30.2% to £11.3m, reflecting mixed performance within these businesses; and
· Enterprise operating profit rose by 54.3% to £42.9m, largely reflecting a £15.3m profit on a disposal in the period.

#Operating profit for same period in 2013 restated in line with establishment of the Enterprise division, and as set out in the Notification of Close Period on 29 September 2014 and at Note 4 of the Condensed Interim Statements.


more....

Disposal

£326.4m DISPOSAL OF STREETLIGHTING PROJECTS

SSE has completed the sale, to Equitix Infrastructure 3 Limited (Equitix), of its 100% equity interest in the special purpose entities (SPEs) established in England under the Private Finance Initiative (PFI), for the delivery of seven street lighting projects.

The SPEs are funded through a mix of senior debt and equity, and the removal of this project-related senior debt, along with the cash consideration of £97.5m, will have the immediate effect of reducing SSE's net debt by £326.4m.

The project SPEs have a 25 year agreement with their respective local authorities, under which they have the responsibility for the replacement, operation and maintenance of the street lighting assets of that local authority. Those operational responsibilities are being, and will continue to be, carried out by SSE Contracting Limited under a parallel 25-year sub-contract with the Equitix-owned SPEs.

SSE's remaining street lighting asset portfolio, which comprises equity interests in four further PFI projects, will be made available for purchase in the next few months.

Gregor Alexander, Finance Director of SSE, said:

"I believe this is a good deal for Equitix, SSE and the local authorities concerned. For SSE, I
am pleased that this important milestone in our value programme has been reached and that SSE Contracting Limited will have the opportunity to play to its strengths by providing the operational services that Equitix and the local authorities need for remainder of the life of the PFI contracts."

APPOINTMENT OF DEPUTY CHAIRMAN

Morgan Stanley Overweight 1,534.00 - - Reiterates

Credit Suisse Outperform 1,534.00 1,700.00 1,700.00 Reiterates

Liberum Capital Hold 1,534.00 - 1,530.00 Reiterates

Citigroup Sell 1,534.00 - 1,390.00 Reiterates

Are you still holding skinny? Your 1600p level seems quite elusive.

Yes I am Harry and have been thinking similar today!

Credit Suisse Outperform 1,541.00 1,700.00 1,700.00 Reiterates

Exane BNP Paribas Outperform 1,541.00 1,700.00 1,700.00 Retains

JP Morgan Cazenove Underweight 1,541.00 1,280.00 1,280.00 Reiterates

Deutsche Bank Hold 1,541.00 1,340.00 1,340.00 Reiterates

Hmmm

OFGEM ANNOUNCES £17 BILLION NEW INVESTMENT PACKAGE

· £17 billion to renew, maintain the electricity network and connect small-scale renewable generation
· £2.1 billion of savings achieved since Ofgem sent back companies' initial business plans last year
· Ofgem expects companies to meet tough targets on further improving reliability, customer service, connections, and their work with vulnerable consumers
· Electricity distribution part of bill to fall by an average of £11 over next eight years

Ofgem has today set out plans for five out of the six companies that run Britain's local electricity network.

This decision will see the companies spend around £17 billion to renew, maintain the electricity network and connect small-scale renewable generation. Taken together with Western Power Distribution which had its price controls agreed early, the total spend on Britain's local electricity network over the next eight years will be £24 billion.

There have been minimal changes since July's draft decision and today's announcement represents a reduction of £2.1 billion since Ofgem sent back initial business plans last November.

Ofgem has set challenging targets for all companies to continue improving reliability, speed up new connections to the network and increase their work with vulnerable consumers. In addition, from the start of these price controls in April 2015, payments for customers who experience prolonged power cuts will increase, and more than double from £27 to £70 for those without power during severe weather.

Ofgem expects companies to realise around £900 million of benefits to consumers over the period as a result of Ofgem's innovation stimulus, the Low Carbon Network Fund is running from 2010-2015. This has helped companies adapt the network to make it work better, and cope with the expected increase in small-scale generation, such as the use of solar panels.

The work these companies do accounts for around £100 of your annual electricity bill. Our announcement today will see this part of the bill deliver an average annual saving of £11*. Including Western Power Distribution, which had its controls agreed early, the average bill will be £10 a year lower than it is today for the eight-year period of the control.

Dermot Nolan, chief executive at Ofgem, said: "Today's plans represent good value for consumers. There will be significant investment in Britain's electricity network, and reduced pressure on bills. Ofgem expects network companies to step up and take a more visible and active role in helping customers, particularly the most vulnerable."

Just sold some @1657.