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?

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.

ANyone know why the sudden increase?

Bought back @1634p

OFGEM SECURES £1.75M FROM SSE

OFGEM CONFIRMS FUNDING FOR £1 BILLION TRANSMISSION SUBSEA LINK

Ofgem has today approved £1.1 billion funding for a new subsea link in the north of Scotland. The regulator's decision is £105 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.

Provisional Result of the Capacity Auction


ELECTRICITY DISTRIBUTION PRICE CONTROL REVIEW

Ex-dividend date 22 January 2015

Q3 Interim Management Statement 12 February 2015

I see Millibean has worked his magic on our share price again.

Hmmmm - MORE COMPETITION IN ELECTRICITY CONNECTIONS MARKET IS NEEDED, SAYS OFGEM

· Competition developing too slowly in market for new electricity grid connections
· Ofgem's reforms look to increase competition and reduce hassle for customers connecting to the electricity grid
· Ofgem launches an investigation to see whether SSE put its competitors at a disadvantage in the electricity connections market

more.....

Ex dividend tomorrow.

Trading Statement

SSE plc completed the third quarter of its financial year on 31 December 2014.
This trading statement:

· includes information about SSE's operational and investment activities for the nine months to 31 December 2014;
· confirms SSE's expected financial results for the year to 31 March 2015, which are forecast to be in line with the financial outlook given in the interim results statement;
· confirms that SSE still expects to report an increase in the full-year dividend for 2014/15 that will at least be equal to RPI inflation;
· confirms that SSE is targeting an increase in the full-year dividend for 2015/16 of at least RPI inflation, with annual increases thereafter of at least RPI inflation also being targeted;
· details key developments since SSE published its interim results on 12 November;
· announces that SSE will reduce household gas prices in Great Britain by 4.1% on 30 April and then extend its household gas and electricity price guarantee to at least July 2016; and
· includes an update on SSE's value programme of operational efficiency and asset disposals.

Best yields in utilities sector

Investec Buy 1,537.50 1,543.00 1,725.00 1,725.00 Reiterates

Credit Suisse Outperform 1,537.50 1,543.00 1,700.00 1,700.00 Reiterates

Deutsche Bank Hold 1,537.50 1,543.00 1,500.00 1,500.00 Reiterates

Norges Bank > 4%

Defensive, but no dullard

NOTIFICATION OF CLOSE PERIOD

SSE plc will enter its close period on 31 March 2015, prior to the publication on Wednesday 20 May of its financial report for the year to 31 March 2015.

Developments since publication of IMS
Since the publication of its trading statement on 26 January 2015, SSE has:
· successfully launched an issue of hybrid capital securities comprising £750m and €600m with an all-in funding cost to SSE of 4.02% per annum;
· confirmed a reduction in interim dividend cash funding of £81.6m as a result of the Scrip alternative;
· responded to the decision by other parties to seek permission from the CMA to appeal the decision of GEMA with regard to the electricity distribution price control for 2015-23;
· confirmed that Deputy Chairman Richard Gillingwater will take up his previously-announced appointment as Chairman on the completion of the Company's AGM in July, subject to being re-elected to the Board;
· been awarded a National Grid contract to provide voltage support from Peterhead Power Station for 18 months from 1 April 2016 with a baseline value of £15m; and
· announced the sale of Langhope Rig, a 16MW wind farm nearing construction completion in the Scottish Borders, as part of its disposal programme of onshore windfarm assets.

Financial outlook
As set out in its trading statement, SSE expects that it will deliver for 2014/15:
· an increase in the full-year dividend that is at least equal to RPI inflation1, expected to be around 2% ; and
· adjusted earnings per share1 that will be around the level achieved in 2013/14.
1 As defined in SSE's interim results statement in November 2014.

more....

Citigroup remains at sell on SSE, target raised to 1,455p from 1,390p.

Preliminary results for the year to 31 March 2015

Finance - SSE Group
The key financial results for the year to 31 March 2015 are in line with expectations set out in the Notification of Close Period published on the 26 March 2015 (comparisons with the previous year, unless otherwise stated):

· Adjusted earnings per share* increased by 0.6% to 124.1 pence;
· Adjusted profit before tax* increased by 0.9% to £1,564.7m;
· Reported profit before tax increased by 24.1% to £735.2m;
· Investment and capital expenditure fell by 6.8% to £1,475.3m;
· Adjusted net debt and hybrid capital decreased by £74.7m to £7,568.1m;
· Full-year dividend increased by 2% to 88.4 pence per share; and
· Dividend covered 1.40 times by adjusted earnings per share.

REVIEW OF COAL-FIRED GENERATION ASSETS

SSE plc has completed the assessment of the longevity of its remaining coal-fired generation capacity that it announced in March 2015 and concluded that it should:

· close all of the remaining capacity (1,014MW) at Ferrybridge, Yorkshire by 31 March 2016; and
· enter all of the remaining capacity (1,995MW) at Fiddler's Ferry, Lancashire into the auction for electricity generation capacity at the end of 2015 (for delivery in 2019/20).

The outcome of the review is consistent with SSE's long-standing objective to transition its generation assets from a portfolio weighted towards gas and coal towards a portfolio more weighted towards gas and renewable sources of energy; and with the wider commitment to operational and financial discipline set out in March 2014.

more....