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?

Half Year Results.

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RNS Number : 4994Z

Scottish & Southern Energy PLC

14 January 2011

SCOTTISH AND SOUTHERN ENERGY PLC

FIRST ELECTRICITY GENERATED AT GREATER GABBARD AND WALNEY OFFSHORE WIND FARMS

SSE (Scottish and Southern Energy plc) has confirmed today that a milestone has been reached at both Greater Gabbard and Walney offshore wind farms, which have each generated electricity for the first time.

Colin Hood, SSE's Chief Operating Officer, said: "This is a major milestone in the development of Walney and Greater Gabbard offshore wind farms. As the UK's leading generator of electricity from renewable sources, SSE is committed to helping to increase further the amount of renewable electricity generation in the UK, and the export of electricity at Walney and Greater Gabbard is a step towards achieving this."

Greater Gabbard offshore wind farm, in which SSE owns a 50% stake, is being developed with RWE npower renewables, the UK subsidiary of RWE Innogy. It is located approximately 23km off the Suffolk coast, in the North Sea. The first three turbines have now been energised and have exported electricity to the National Grid.

Paul Coffey, Chief Operating Officer at RWE Innogy, said: "We are delighted to have reached this stage in the project. Constructing a wind farm of this size is a complex task but once fully operational, Greater Gabbard will be the world's largest offshore wind farm."

Walney offshore wind farm, in which SSE owns a 25.1% stake, is being developed with DONG Energy and a consortium of PGGM and Dutch Ampere Equity Fund. Located in the Irish Sea, approximately 15km west of Barrow-in-Furness, it consists of two wind farms - Walney 1 and Walney 2 each with a capacity of 183.6MW.

Construction of Walney 1 started in March 2010 and is progressing well with all of the planned 51 turbines having been successfully installed. The first turbines have now been energised and have exported power to the national grid. Walney 1 is expected to be fully commissioned in the first half of 2011. Construction of Walney 2 is due to start around March and be fully commissioned by the end of 2011.

Niels Bergh-Hansen, Executive Vice President of DONG Energy, said: "The United Kingdom has a very ambitious plan for expanding the production of renewable energy and a target of making green energy and reliability of supply go hand in hand, and we are pleased to be able to contribute to the expansion of renewable energy. The first power from Walney is a tangible result of our efforts to increase our production of renewable energy".

12 month high today.

Interim Management Statement.

Nice brace of 'higher lows'.

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Yes - they are just below my last exit point and they are on my buy list (again).

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Paid this Friday :-)

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Yes 526 - having said that, they are up +39 on the day.

Close period and large capital projects update


As stated in its Interim Management Statement on 21 July 2011, SSE expects that a particularly large proportion of its adjusted profit before tax will be delivered in the second half of this financial year. This means that adjusted profit before tax for the six months to 30 September 2011 will be significantly lower than in the same six months in 2010 and 2009, but this should have no implications for the full financial year.

SSE remains on course to achieve its principal financial objective for 2011/12, an increase of at least 2% more than RPI inflation in the dividend payable to shareholders, and expects to maintain a dividend cover around its established range.

WHOLESALE ELECTRICITY PRICE TRANSPARENCY

SSE is to introduce a new and transparent approach to the management of its electricity supply and demand requirements. This approach will see SSE phase in the auction of all of its electricity supply1 and purchase all of its electricity demand, in the day ahead market.

SSE aims to begin this approach by trading a proportion of its total electricity supply and demand by Friday 14 October 2011 - with the expectation that it will reach 25% during November. The volume of electricity transacted in this way will then be increased gradually over the next few months with the expectation that all of SSE's electricity supply and demand will be traded in the day ahead market by the end of its current financial year (subject to market conditions and costs).

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Yes - along with British Gas.

Half Year Results.

Continuing commitment to financial principles

13th successive increase in the interim dividend - up 7.1%
Targeting full-year dividend increase of at least RPI + 2%
Moderate increase forecast for full-year adjusted PBT*
Single A credit rating maintained
Additional long-term funding of 426m secured at good rates
Ongoing investment in new assets through six-month capital investment of 796.9m
Forecasting capital/investment expenditure of around 1.7bn for 2011/12

Delivering efficiency and innovation in energy networks

Energy Networks operating profit up 9.5% to 320.4m
Focus on staying at efficiency frontier in electricity distribution
NINES 'smart' programme on Shetland secured Ofgem funding approval
Ofgem funding approval for Beauly-Denny upgrade (539m at 2009/10 prices)
Inclusion of SHETL in Ofgem's new fast-tracking process for post-2013 Price
Control
Continuing progress by SGN regarding in-sourcing services from National Grid
Biggest award (1.3m) made to SGN under Ofgem's Discretionary Reward Scheme


CCS Joint Development Agreement

RNS Number : 0541U

SSE PLC

15 December 2011

SSE plc

IMPLEMENTATION OF SALES GUARANTEE FOR

HOUSEHOLD ENERGY CUSTOMERS

SSE will implement its sales guarantee for household energy customers from next month (January 2012). Under the guarantee, any customer who shows that they switched their energy supply to SSE after being given inaccurate information or being misled will have any resulting financial loss made good. The guarantee is one of 10 proposals to build trust in energy supply published by SSE in October 2011.

To ensure fairness between existing and new customers, the guarantee will apply to any household energy sale made by SSE since October 2009, when Ofgem placed new obligations on energy suppliers to make sure sales activities are conducted in a fair and professional manner.

From late January onwards SSE will initially write to all of its existing customers who it signed up through the doorstep sales channel between October 2009 and July 2011 (around 400,000) to make them aware of the guarantee and to let them know what they need to do if they believe they have suffered any financial loss. In July 2011, SSE became the first supplier in the Great Britain market to stop commission-based doorstep selling of electricity and gas.

A sales guarantee information line* has been set up and a helpline will become fully operational in late January, when SSE starts to write to customers.

While it is not possible to predict precisely how many customers may have suffered a financial loss as a result of switching energy supplier, SSE believes that around GBP5m should be sufficient to meet any claims under the guarantee arising from energy sales between October 2009 and the end of 2011. The application of the guarantee will be independently assured so that customers have the maximum possible confidence in the process. The provider of the independent assurance will be appointed in the New Year.

To complement the sales guarantee, and also as part of its plans to build trust in energy supply, SSE is currently piloting with customers an Annual Energy Review. The aim of the Review is to ensure that customers are on the right tariff and payment method to suit their needs and to highlight opportunities for other energy improvements such as efficiency. Every SSE customer will be offered an Annual Energy Review from October 2012.

SSE supplies electricity and gas as Scottish Hydro, Southern Electric, SWALEC and Atlantic, as well as SSE. In September 2010, Ofgem launched an investigation to establish whether four suppliers (EDF Energy, npower, Scottish Power and SSE) were complying with the obligations it introduced in October 2009. SSE is co-operating fully with Ofgem's investigation, which is ongoing.

Alistair Phillips-Davies, Generation and Supply Director of SSE, said:

"We agree with Ofgem about the need to restore customers' trust in the energy supply market and to treat customers fairly. That's why we have decided to introduce this sales guarantee and to implement it retrospectively.

"We believe that most of our energy sales have been conducted in a fair and professional manner and that customers of SSE benefit from our commitment to consistently competitive prices over the medium term and sector-leading service.

At the same time, good service starts with the sales process and if customers have actually suffered a loss as a result of that process, we will acknowledge that and make good that loss.

"We have been saying for some time that energy is a significant purchase and the sales process rightly requires increasingly significant customer safeguards. This guarantee, and the retrospective application of it, is a practical demonstration of putting words into action."

* The number for the SSE sales guarantee information line is 0845 0707 388.

It contains a recorded message with information about the guarantee. From late January onwards, SSE will operate a helpline on the same number.

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Yes - I'd like to add here - as and when.