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?

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

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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.

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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.

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Exane BNP Paribas Outperform 1,610.00 1,610.00 1,750.00 1,800.00 Retains

Ex-divi 23rd July (61.8p)

CMA ENERGY MARKET INVESTIGATION - PROVISIONAL FINDINGS AND NOTICE OF POSSIBLE REMEDIES

SSE plc notes today's publication by the Competition and Markets Authority (CMA) of its Provisional Findings and Notice of Possible Remedies in its GB energy market investigation. The CMA is now consulting on today's publications and SSE will submit comprehensive responses in the coming weeks.

Since a market investigation was first proposed in March 2014, SSE has argued that energy markets in Great Britain are generally well-functioning and competitive; while recognising the benefits of reforms that are in the interests of customers, and its responses to today's publications will be consistent with this view.

Following a number of stages of extensive consultation with the industry, Government and other stakeholders, the CMA is expected to publish its Final Report by the end of this year.

Alistair Phillips-Davies, SSE's Chief Executive, said:

"SSE has consistently maintained that whilst customers already benefit from healthy market competition, there is always room for improvement. We will now examine today's publications in detail, along with the analysis that underpins them. We will also continue to work constructively with the CMA as this process continues to help ensure that the opportunity presented by this investigation is fully grasped, and that the final result is an enduring outcome that gives customers confidence, allows regulators to regulate, and encourages investors to invest in the Great Britain energy market."

Energy customers 'paying too much'

UK Government Scraps Climate Change Levy, Reiterates North Sea Support

TRADING STATEMENT

SSE plc completed the first quarter of its financial year on 30 June 2015 and its Annual General Meeting is taking place today (23 July) in Perth. This trading statement:

· summarises operational performance in SSE's Wholesale, Networks and Retail (including Enterprise) businesses;
· sets out progress made in SSE's plans to invest around £1.75bn (gross) in the UK and Ireland in 2015/16;
· details developments since SSE announced its results for 2014/15 on 20 May 2015 while confirming its financial outlook;
· confirms that SSE is continuing to target adjusted earnings per share of at least 115 pence for 2015/16; and
· confirms that SSE is continuing to target 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.

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SSE PLC GAS ASSETS ACQUISITION

SSE plc, through its wholly-owned subsidiary SSE E&P UK Limited, has entered into an agreement with Total E&P UK Limited to acquire: a 20% interest in the four gas fields and surrounding exploration acreage approximately 125km north west of the Shetland Islands, collectively known as the Greater Laggan Area; and a 20% interest in the new Shetland Gas Plant.

Following completion of the acquisition later in this financial year, Total E&P UK Limited will continue as operator of, and will own a 60% stake in, these assets. The remaining 20% is owned by DONG Energy.

The value of the transaction will comprise consideration of £565m for the assets (which reflects their value based on an effective economic date of 1 January 2015, including associated UK capital allowances) plus additional forecast investment of £350m in the period to 2018 to complete the entire development.


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