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?

12 Dec Macquarie Outperform 1,506.50 1,700.00 1,700.00 Reiterates

12 Dec Barclays Capital Overweight 1,506.50 1,765.00 1,765.00 Reiterates

Changes to standard GB domestic energy prices; dual fuel bill to increase by 6.9%
· SSE to increase standard GB domestic electricity prices but will hold gas prices at their current level
· Price change equates to a £73 or an average 6.9% rise for a typical dual fuel customer*, as a result of an average 14.9%2 electricity price increase
· Electricity prices will increase from 28 April 2017
· Dual fuel customers will still pay less than they did at the end of 2013 due to three reductions in gas prices and one electricity price cut since then
· Rise reflects the increasing cost of supplying electricity
· SSE will establish a £5m fund, providing targeted financial assistance to minimise the impact on vulnerable customers

Three and a half years since its last price rise, energy supplier SSE has taken the difficult decision to increase standard domestic electricity prices from 28 April 2017, but confirmed it will hold gas prices at their current levels.

The 6.9%* dual fuel increase will mean a typical domestic customer will pay on average £731 a year more, which equates to around £1.40 per week, as a result of an average 14.9%2 increase in electricity prices. The new typical dual fuel bill of £1,142 per year remains cheaper than in November 2013 and gas prices remain the cheapest they've been since October 2012, thanks to three price cuts in the intervening period. This change to electricity prices will affect around 2.8 million SSE customers3 in Great Britain.

The price change reflects the increasing cost of supplying electricity, and specifically higher costs associated with delivering vital government programmes designed to upgrade Britain's ageing energy infrastructure and help the country move towards a low carbon future. These costs are levied predominantly against electricity customers.

SSE has sought to protect customers as much as possible and was the first major supplier to commit to holding prices until at least April 2017; it has resisted pressure on gas prices, and continues to bear down on its own controllable costs in order to minimise the impact of increasing costs on customers.

For those customers looking for security over their longer-term energy costs, SSE is now offering a fixed-price tariff for three years, providing peace of mind all the way to 2020.

Berenberg today upgrades its investment rating on SSE PLC (LON:SSE) to buy (from hold) and raised its price target to 1650p (from 1550p).

Goldman Sachs Neutral 1,432.50 1,528.00 1,528.00 Reiterates

Jefferies International Hold 1,432.50 1,550.00 1,400.00 Reiterates

Preliminary results for the year to 31 March 2017

17 May 2017
This report sets out the preliminary results for SSE plc for the year to 31 March 2017. It includes updates on operations and investments in its Wholesale, Networks and Retail (including Enterprise) businesses.

Overview of 2016/17
Financial highlights for the year to 31 March 2017 are as follows. Comparisons are with the previous year unless otherwise stated:

· Recommended full-year dividend up 2.1% to 91.3p;
· Adjusted earnings per share up 5.2% to 125.7p;
· Adjusted dividend cover towards top of expected range at 1.38 times;
· Adjusted operating profit up 2.7% to £1,874.0m;
· Adjusted profit before tax up 2.1% to £1,545.9m;
· Adjusted profit after tax up 6.1% to £1,268.9m;
· Net exceptional charge of £8.2m (net charges of £374.6m offset by £366.4m from the gain on sale of SGN stake and the revaluation of SSE's Clyde wind farm investment);
· Investment and capital and investment expenditure up 6.6% to £1.7bn;
· Adjusted net debt and hybrid capital up 1.1% to £8.5bn at 31 March 2017;and
· On market share buy backs totalling £131m in the period to 31 March 2017, plus an additional £65m in April 2017.
Reported results for 2016/17 are significantly higher than those for 2015/16 due to the impact on reported profit before tax of the significant exceptional charges incurred in 2015/16. These related mainly to the write down of wholesale generation, gas storage and production assets in 2015/16 compared to the gain on sale of a stake in SGN plus lower asset write downs in 2016/17. This together with the relative movement in mark to market valuations on forward purchase contracts for commodities over both years (which at March 2017 were still 'out of the money') contributed to a net reported gain before tax of £247.5m in 2016/17 compared to a loss before tax on those items of (£904.3m) in 2015/16.

This swing is explained in more detail in the relevant sections throughout this report and is the main driver for:

• Reported profit before tax increasing to £1,776.6m in 2016/17 compared to a £593.3m in 2015/16, due to the movement in non-recurring exceptional items; and

• Reported earnings per share increasing to 158.4p in 2016/17 compared to 46.1p in 2015/16, again due to the movement in non-recurring exceptional items.

Outlook for 2017/18
For the 2017/18 financial year, SSE is:

· Targeting an annual increase in the full-year dividend that is at least equal to RPI inflation ;
· Working to keep dividend cover within the expected range of around 1.2- 1.4 times, although it is likely to be towards the bottom of it, as stated in SSE's Notification of Pre Close Statement on 30 March 2017, which also means adjusted earnings per share is likely to be lower than it was in 2016/17; and
· Expecting to invest around £1.7bn in building, owning and operating assets, with around two thirds of this in electricity networks and renewable energy.
As stated on 30 March, the level of dividend cover is subject to the ongoing factors that influence earnings in SSE's market-based businesses.

Outlook to 2020
Looking further ahead, over the three years to March 2020, SSE is:

· Targeting delivery of annual dividend increases that at least keep pace with RPI inflation;
· Working towards achievement of dividend cover within a range of around 1.2 times to 1.4 times;
· Focusing on progress in its capital and investment expenditure totalling around £6bn across the four years to 2020, mainly in electricity networks and renewable energy;
· Targeting an increased RAV of its economically-regulated networks businesses, to close to £9bn;
· Targeting an increased amount of renewable capacity, including pumped storage, to 4.3GW; and
· Working to deliver enhanced customers experience of retail energy markets through the installation of smart meters and the provision of digital services.
As stated on 30 March, the level of dividend cover is subject to the ongoing factors that influence earnings in SSE's market-based businesses, and is also subject to material change in sector regulation.

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FURTHER SALE OF A STAKE IN CLYDE WIND FARM TO GREENCOAT AND GLIL

SSE has signed an agreement to sell a further stake in Clyde Windfarm (Scotland) Limited ("Clyde")* to Greencoat UK Wind Plc ("UKW") and GLIL Infrastructure LLP ("GLIL").

In March 2016, SSE announced the initial sale of Clyde equating to 49.9% of the existing 349.6MW operational wind farm. At the time, it was highlighted that when the commercial operation (which will occur shortly) of the 172.8MW extension began, the equity stake in Clyde jointly owned by UKW and GLIL would be diluted to 30% with SSE retaining 70%.

Under the new agreement, on dilution, UKW and GLIL will acquire an additional 5% of Clyde, equating to 26.1MW, for a cash consideration of £67.8million, before costs, taking their share of the total Clyde development to 35%.

UKW and GLIL also have the option to buy a further 14.9% of Clyde, equating to 77.8MW, for a cash consideration of £202.2 million, before costs. This option can be exercised between 1 April 2018 and 30 June 2018.

If this option were to be exercised, SSE's share in Clyde would reduce to 50.1% with UKW and GLIL owning the remaining 49.9%.

This transaction implies a combined valuation of the two wind farms of £2.6million per MW.

The Clyde windfarm is located in South Lanarkshire and the original wind farm has a combined generating capacity of 349.6 MW from 152 Siemens 2.3MW turbines. The Clyde Extension consists of 54 Siemens 3.2 MW turbines with a total capacity of 172.8 MW and SSE believes it is one of the most efficient large wind farms in Great Britain.

Notification of closed period http://www.moneyam.com/action/news/showArticle?id=5680447

SSE PLC



In line with its stated commitment to embrace change in each of its businesses, adapting them to the political, economic, social and technological requirements of customers and of society as a whole, the Board of SSE plc has been in discussions with innogy SE about creating a new independent energy supply company to which would be contributed: SSE's household energy supply and services business in Great Britain; and innogy's household and business energy supply business in Great Britain.

The discussions between SSE and innogy are continuing and are well-advanced but no final decisions have been taken and no binding agreements regarding the terms of any combination have been entered into. Any proposal to form a new company combining the businesses described above would be subject to the customary regulatory approvals, and approval of the transaction by SSE plc shareholders. The combined business would be listed and SSE would demerge its shares to its shareholders.

In discussions, SSE is mindful of the requirements of customers and the concerns of employees. It will disclose the outcome of the discussions as soon as they are concluded; but in the meantime will not be commenting further on any aspect of the discussions.



This announcement is being disclosed in accordance with the Market Abuse Regulation (EU596/2014) and has been determined to contain inside information in line with the definition therein.

NPower are useless http://www.bbc.co.uk/news/business-41901335

Let's assume the deal is a success... SSE Shareholder get some shares in the new supply co....but will SSE's income and/or Shares be further reduced? IC suggests "Buy" but would it be better to wait for definite News, Timetable, etc?
If SSE continues with 6.5% Yield, that should pay my Electric Bills . . . but I don't want to lose Capital ...! . . . sp~1337.
EDIT20Nov2917)- Today, MoneyAM can't display this Company...yet LSE shows Trades and prices....Tried Contact-Us but you get a vacant extension(msg). ODD.

Trading Statement

SSE plc completed the third quarter of its financial year on 31 December 2017. This trading statement:

· highlights that for 2017/18 SSE now expects to deliver adjusted earnings per share in the range of 116 to 120 pence;

· confirms that for 2017/18 SSE still expects to report an annual increase in the full-year dividend that at least keeps pace with RPI inflation;

· provides an update on SSE's operational performance and on progress with its capital investment programme for 2017/18, which is now expected to be around £1.6bn (previously £1.7bn); and

· confirms that the planned combination of SSE's household energy supply and services business in GB with npower, to create a new independent energy supplier, remains on course to be completed by the last quarter of 2018 or the first quarter of 2019.

more.....

NOTIFICATION OF CLOSED PERIOD

SSE plc will enter its closed period on 1 April 2018, prior to the publication on Friday 25 May of its financial results for the year to 31 March 2018.

Financial Outlook 2017/18

SSE expects that it will deliver for 2017/18:

· An increase in the full-year dividend that is at least equal to RPI inflation which is forecast to be around 3.7%;

· Adjusted earnings per share that is just above 120 pence; and

· Capital and investment expenditure totalling around £1.5bn with net debt and hybrid capital likely to be around £9.3bn at 31 March 2018.

SSE expects to report that all three of its segments - Wholesale, Networks and Retail - will have been profitable during 2017/18.

· Adjusted operating profit for Wholesale is expected to be significantly higher than in 2016/17, mainly reflecting the increase in electricity output from SSE's renewable and gas-fired generation plant.

· As previously stated, adjusted operating profit for Networks is expected to be around £150m lower than in 2016/17, on an absolute basis, as a result of:

i. the disposal by SSE in October 2016 of part of its stake in SGN;

ii. the phasing of returns in the Price Control mechanisms for Electricity Transmission and Distribution.

· Adjusted operating profit for Retail is expected to be broadly in line with that earned in 2016/17.

Financial Outlook 2018/19 and beyond

The 2018/19 financial year is expected to be one of transition for the SSE group. The planned demerger of SSE's GB household energy supply and services business remains on course but its timing, if approved, is not certain. Furthermore, within 2018/19, the impact and timing of the Domestic Gas and Electricity (Tariff) Cap Bill, if enacted, is unclear.



Despite these uncertainties and their potential impact on adjusted earnings per share, SSE continues to target an annual increase in the full-year dividend for 2018/19 that is at least equal to RPI inflation.

SSE said on 8 November 2017 that following the expected demerger of its GB household energy supply and services business, its dividend and dividend policy from 2019/20 for the remaining business will reflect the quality and nature of its assets and operations, the earnings derived from them and the longer-term financial outlook.

SSE also said on 8 November 2017 that more detail on this will be set out by the time the shareholder circular in respect of the transaction is published, and this will be included in the preliminary results statement on 25 May 2018. SSE intends to supplement the preliminary results presentation on that date with updates on the business areas expected to remain within SSE after the planned demerger.


Intention to create a new independent energy supplier

Following early engagement with the Competition and Markets Authority (CMA), SSE and innogy SE formally notified the CMA on 28 February 2018 of their intention to create a new, independent energy supplier in GB. This triggered an announcement by the CMA on 28 February 2018 that a Phase One investigation of the transaction is now under way. This is the standard process and has a statutory deadline of 40 working days.

Work has continued to progress to prepare for the planned transaction and SSE will shortly complete the transfer of the GB energy supply and services businesses that are expected to be the subject of the planned demerger and subsequent merger with npower to a wholly-owned subsidiary named SSE Energy Services Group. A total of 8,800 employees are being transferred to the new retail group.

Gregor Alexander, Finance Director of SSE, said:

"As expected, 2017/18 has involved a number of significant challenges, but SSE is a robust, sustainable business that has kept its strong operational focus on meeting the needs of customers. It has also kept its focus on efficient investment in the energy assets needed now and in the future. This means we are in a good position to deliver financial results ahead of our expectations at the start of this financial year.

"The challenges are not expected to relent in 2018/19, and it will be a year of major transition and change for SSE. Throughout the year, we will retain our strong operational and investment focus, while preparing the businesses in the SSE group for the important developments that lie ahead. In this way, we will do the best possible job for customers and other stakeholders, and build options and opportunities for the future, while delivering on our dividend commitment to investors. That has been, and will remain, the SSE way."

Preliminary results for the year to 31 March 2018

25 May 2018

This report sets out the preliminary results for SSE plc for the year to 31 March 2018. It includes updates on operations and investments in its Wholesale, Networks and Retail (including Enterprise) businesses.

Overview of 2017/18
SSE's financial highlights for the year to 31 March 2018 are set out below and are in line with its Notification of Closed Period statement of 29 March 2018, with adjusted earnings per share ahead of expectations at the start of the financial year. Comparisons are with the previous financial year unless otherwise stated.

· Recommended full-year dividend up 3.7% to 94.7p;

· Adjusted earnings per share down 3.6% to 121.1p;

· Adjusted operating profit down 2.4% to £1,828.7m#;

· Adjusted profit before tax down 6.0% to £1,453.2m;

· Net exceptional charges of £213.3m;

· Investment and capital expenditure down 12.9% to £1,503.0m;

· Adjusted net debt and hybrid capital up 8.7% to £9.2bn at 31 March 2018;

· Reported operating profit down 28.9 % to £1,379.2m;

· Reported profit before tax down 38.9% to £1,086.2m; and

· Reported earnings per share down 48.7% to 81.3p.

# Follows sale by SSE of 16.7% stake in SGN in October 2016.

Note: The definitions SSE uses for adjusted measures are consistently applied and are explained in the Alternative Performance Measures section of this document, before the Summary Financial Statements

Key developments in 2018/19

In its Notification of Close Period statement on 29 March, SSE said that the 2018/19 financial year is expected to be one of transition for the SSE group. Key developments are expected to include:

· The planned transaction* relating to SSE's GB household energy supply and services business (now named SSE Energy Services), subject to approvals, which remains on track for completion in the last quarter of 2018 or the first quarter of 2019. SSE shareholders will retain their existing SSE shares and will also hold one share in the newly-listed business for every existing SSE share they hold at demerger record date; and from that point, SSE will no longer derive cash flow or earnings from supplying energy and services to households in GB.

· The expected enactment later this year of the Domestic Gas and Electricity (Tariff Cap) Bill and subsequent introduction of a temporary cap on the price of standard variable and default electricity and gas tariffs. It is intended to be in place for the winter of 2018/19.

*See: Important note: planned SSE Energy Services transaction above

Outlook for 2018/19 to 2022/23
SSE's strategy is to create value for shareholders and society from developing, owning and operating energy and related infrastructure and services in a sustainable way, and at its core will be regulated energy networks and renewable energy.

The financial objective of this strategy is to remunerate shareholders' investment through the payment of dividends. SSE believes that its dividends should be sustainable, based on the quality and nature of its assets and operations, the earnings derived from them and the longer-term financial outlook.

In line with this, taking account of the impact of the expected key developments in 2018/19, and reflecting the underlying quality and value of its assets and earnings and the cash flows they deliver, SSE's plan for the dividend for the five years to 2023 is as follows:

· For 2018/19, SSE is intending to recommend a full-year dividend of 97.5 pence per share, an increase of 3% on 2017/18, which is broadly in line with expectations for RPI inflation. This provides clarity in a year of transition and is not subject to the timing of either the SSE Energy Services transaction or the Domestic Gas and Electricity (Tariff Cap Bill).

· For 2019/20, SSE is planning to set the first post-transaction dividend at 80.0 pence per share, which reflects the impact of the changes in the SSE group expected to take effect by then. This provides a sustainable basis for future dividend growth.

· For 2020/21, 2021/22 and 2022/23 SSE is targeting annual increases in the full-year dividend that at least keep pace with RPI inflation. This reflects SSE's confidence in the quality and value of its assets and earnings and cash flows they deliver.

This plan for the dividend for the five years to March 2023, when the current electricity distribution Price Control comes to an end, supersedes SSE's previous reference to a dividend cover range and is a plan which:

· Aims to provide shareholders with certainty in 2018/19, a year of transition for SSE;

· Reflects the changes in the SSE group expected to take effect by the start of the 2019/20 financial year; and

· Sets the dividend on a path for sustainable growth for the three years from 2020.

SSE intends to retain a Scrip dividend scheme but where take-up of the full-year dividend exceeds 20%, SSE now intends to buy back shares so the dilutive effect of the Scrip is limited.

In addition to the dividend plan above, subject to the necessary approvals being secured, the transaction relating to SSE Energy Services announced on 8 November means shareholders in SSE will receive one share in the planned new independent energy supply and services company for every one SSE share they hold at the demerger record date.

Continuing to invest in assets and infrastructure

Over the five years to March 2023, and based on existing plans, SSE expects its capital and investment expenditure to total around £6bn.

Around 70% of the total capex and investment forecast is expected to be related to regulated electricity networks and renewable sources of energy; it also includes £350m investment in a new highly efficient and flexible 840MW gas-fired power station at Keadby in Lincolnshire (Keadby '2').

In the first of the five years, 2018/19, capital and investment expenditure is forecast to be around £1.7bn. SSE currently expects its adjusted net debt and hybrid capital to peak at around £10bn and to fall back towards £9bn by 2023.

Contributing to the UK and Irish economies

SSE's wider economic contribution is substantially larger than the profit it makes. In addition to creating value for shareholders, SSE supports inclusive economic growth across the UK and Ireland by developing, owning and operating energy and related infrastructure and services in a sustainable way. Its contribution to UK Gross Domestic Product in 2017/18 totalled £8.6bn, taking the total for the last seven years to £65.2bn (in 2017/18 prices). In Ireland, it was €806m in 2017/18. These results are provided by PwC, which has undertaken SSE's economic contribution analysis for every financial year since 2011/12.

SSE has today published a summary of its sustainability impacts in 2017/18, in advance of the publication of its Sustainability Report 2018 on 15 June 2018.

Richard Gillingwater, Chairman of SSE, said:

"As expected, 2017/18 presented a number of complex challenges to manage, but SSE's operational performance was generally very robust and significant progress was achieved in key aspects of the company's capital investment programme. It is encouraging that the company's financial results are ahead of expectations at the start of the financial year.

"The challenges will continue in 2018/19, which is also expected to be a year of major transition for SSE. A strong operational and investment focus on meeting the current and future needs of energy customers is essential, as is preparing the businesses in the SSE group for the changes that lie ahead.

"SSE's strategic goal is to create value in a sustainable way, for shareholders and society. The changes we are making as we renew SSE are intended to have positive outcomes over the long term for customers, stakeholders and investors.

"For investors, by giving clarity on the dividend for the five years to March 2023, SSE is demonstrating that remunerating them for their investment is and will remain its first financial objective."

SSE to pay £1m after inaccurate annual statements

SSE to pay £1 million after issuing inaccurate and misleading annual statements to pre-payment meter customers between 2014/15

SSE has agreed to pay £1 million to Ofgem's consumer redress fund after providing some pre-payment meter (PPM) customers with inaccurate and misleading information in annual statements.1

Ofgem launched an investigation into the supplier in November last year after SSE reported the issue to the regulator.

The investigation found that, between June 2014 and September 2015, the supplier sent out 1.15 million such annual statements to 580,000 pre-payment meter customers.

Due to an IT coding error, these annual statements had inaccurate information on the alternative cheaper tariff available to customers and inaccurate estimates of how much they could save annually by switching to them.

Some statements also overestimated the annual savings the customers could make by changing their pre-payment meter to a standard credit meter paying by direct debit, as well as by moving to paperless billing.

Our investigation found that, whilst a large number of incorrect annual statements were issued to customers, the level of harm is low as only a small proportion of those customers would have acted on the information by switching. The average saving for each of these customers would also have been low.

The investigation found that SSE failed to act promptly to put things right, by not identifying the issue at an early stage and by not escalating action to address it or putting in place appropriate remedial actions.

The supplier also failed to put in place arrangements and processes around customer communications that were complete, thorough and fit for purpose.2

SSE has since improved its processes to prevent this from happening again. This includes carrying out extra checks on their customer communications before issuing them and giving more resources to the teams involved.

Ofgem has now closed this case without taking formal enforcement action, taking into account the steps that SSE has since taken to address its failings and, considering the low level of harm identified, the redress it has agreed to pay.

SSE will pay £1 million into Ofgem's consumer redress fund administered by the Energy Savings Trust, which supports consumers in vulnerable situations and the development of innovative products or services not currently available to energy consumers.3

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Ex dividend on 26th July @66.30p

Berenberg Buy 1,382.00 1600.00 1470.00 Reiterates

StockMarketWire.com
SSE said that dry, still and warm weather and persistently high gas prices negatively impacted its adjusted operating profit by around £80m in the first quarter, adding that this would potentially impact on its full-year results.

The above factors resulted in a higher cost of energy, lower-than-expected power output from renewables and lower energy consumption.

"Looking ahead, we are very focused on fulfilling our obligations to energy customers and delivering on our key priorities. Those priorities include successful delivery of our plans to invest around £1.7bn in this financial year, and we are pleased with the progress of key projects, including the installation of the first two turbines at the Beatrice offshore wind farm," said Chief Executive Alistair Phillips-Davies.

"We are strongly committed to delivering the five-year dividend plan we set out in May," he added.

Hydro output was higher than the same period in 2017, mainly due to higher snow melt in the period. However, hydro output in both Q1-17/18 and Q1-18/19 was below expected levels, with Q1-18/19 around 20% lower than plan.

Poorer-than-average wind conditions in the first quarter resulted in some output from onshore and offshore wind farms being some 15% lower than planned.

StockMarketWire.com
Energy utility SSE warned it expected its first-half adjusted profits to halve in the current financial year, as warmer weather and higher prices sapped demand.

The company also warned that a new regulatory price cap would have a worse-than-expected impact on its energy services business for the full year.

In the five months through August, the company said relatively dry, still and warm weather had continued, as had persistently high gas prices. Low wind conditions had also lowered renewable energy output.

Its adjusted operating profit for those first five months of the financial year had therefore been negatively affected by around £190m compared with plan.

'The net result is that SSE currently expects its adjusted operating profit for the six months to 30 September 2018 will be around half of that delivered in the same period in 2017,' the company said.

Ofgem's proposed default tariff cap, associated methodology and input data, if implemented on 1 January, was expected to result in adjusted operating profit for SSE Energy Services in 2018/19 'being significantly lower' than SSE expected at the start of the financial year.

Unlike other suppliers, SSE Energy Services had implemented only one increase in standard household energy prices during 2018, the company noted.

'Looking ahead, because it is the subject of the planned transaction with npower, SSE Energy Services is likely to be deemed to be held for sale in SSE's financial statements,' SSE said.

'This means it will be excluded from the calculation of SSE's adjusted earnings per share for 2018/19.'

On dividends, SSE said it still expected to recommend a full-year dividend of 97.5p per share for 2018/19 and to deliver its five-year dividend plan set out in May.

'Lower than expected output of renewable energy and higher than expected gas prices mean that SSE's financial performance in the first five months has been disappointing and regrettable,' chief executive Alistair Phillips-Davies said.

'The underlying quality of SSE's businesses remains strong, with regulated networks and renewables providing the core of what will be an infrastructure-focused SSE group in the years ahead. '