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?

People gone for the post divi day rise on this one then.

Had to make do with the divi and small profit, out at 1009.5p

thats a shame - looks set to go a lot higher now. especially with the potential Gazprom bid/

Anyone still in SSE? There's the potential for more consolidation in the sector now that E.ON's bid for Endesa has floundered. And SSE have been winning customers hand over fist from all of their major competitors.

Not me Queen1, think i was in for the divi back in 2005.

As you say possible consolidation in this sector due.

Thanks Stan - best of luck wherever your money now lies.

Electrifying!

Scottish & Southern Energy said it has set a long term objective of doubling its dividend after increasing this year's dividend by 18.3%. The company posted a 23.5% rise in adjusted pretax profit to about 1.08bn.

SSE said it was increasing the full year dividend to 55p a share, up from 46.5p last year and representing a 69.8% rise since 2001/02. It said it plans to deliver at least 4% annual real growth in the dividend paid to shareholders in respect of 2007/08, 2008/09 and 2009/10.

'Thereafter, SSE expects to continue to deliver at least sustained real growth in the dividend,' the group said in its results statement.

SSE said its strategy of having a balanced regulated and non-regulated portfolio of energy-related businesses delivered 'another year of excellent financial performance' in the 12 months to March 31st.

The group said the 23.5% rise in profits before exceptional items, accounting changes and after the removal of tax on profits from joint ventures, resulted in pretax profit rising above 1bn for the first time.

It said its policy of 'responsible pricing' had helped it to increase customer numbers during the year by more than a million to 7.75 mln. It said there had been a further reduction of 47% in complaints reported by Energywatch and it had achieved 100,000 'Talk' telecoms customers for the first time, resulting in a 5.3% rise in operating profit at its telecoms division to 13.9m. 'In addition, there has been very good progress in our major investment programme, with the result that our asset base in energy networks, electricity generation, energy supply and gas storage, which has grown substantially in recent years, will again increase significantly in the coming years,' chairman Sir Robert Smith said in a statement.

The company said its gas storage division increased operating profit by 104.8% to 55.9m while contracting, connections and metering lifted profits by 9.8% to 51.6m.

The generation and supply division increased operating profit by 44.5% to 642.6m and operating profit at the group's energy systems operation rose slightly to 471.1m against 470.6m previously.

A great company doing everything well. They also top the Energy Watch League which means they get less customer complaints than any other energy provider in the UK. And before disgruntled posters get on board to slag them off it's less customer complaints, not no complaints. Nobody's perfect:

Scottish & Southern Energy said its 2007-08 results are 'slightly ahead' of brokers' forecasts, and that its investment plan for the Ferrybridge power station will focus on a new 800 megawatt (MW) supercritical and carbon capture-ready plant.

The company also said it will not proceed with the installation of a 500MW supercritical boiler and steam turbine at Ferrybridge, as costs across the power equipment sector have risen. The focus on an 800MW unit would secure a 'significant' improvement in the thermal efficiency, from around 37 pct for the existing plant to around 45 pct, it said.

It will also deliver a significant reduction in the amount of carbon dioxide per kilowatt hour of electricity produced, the company added.

Any new coal plant is unlikely to be commissioned before 2014, with a decision to be made around the turn of the decade, it said, adding it has completed a review of its plans and investment opportunities in electricity generation. This follows its adoption of a target to reduce by 20 pct, over 10 years, the amount of carbon dioxide per kilowatt hour of electricity produced at power stations in which it has an ownership or contractual interest.

Scottish & Southern said it has entered into an agreement to merge its Renewable Technology Ventures Ltd (RTVL) unit with marine energy conversion company Aquamarine Power Ltd to create an enlarged marine energy company.

The company also said that it is entering into an agreement to support the refurbishment of hydro electric stations in Brazil, with the purchase of about 160,000 carbon emissions reduction certificates over a period of six years. This is in line with its strategy to support the development of clean sources of energy in other parts of the world to address the global challenge of climate change, it said.

Scottish and Southern Energy has entered into an agreement with Vital Energi Utilities Ltd, where SSE will invest 6million for a 30% share of the business.

Vital Energi is an established energy services contractor that specialises in the design, supply and installation of Combined Heat and Power (CHP) and District Heating systems in the commercial, industrial and residential sectors. A typical CHP scheme generates electricity through the combustion of natural gas, landfill gas or biomass and then supplies the electricity and 'waste' heat to a local community.

SSE recently reached an agreement with Berkeley Homes (East Thames) Ltd, to provide the energy services requirements for their major development, The Warren, in south east London. Under the ESCO Agreement, SSE will be responsible for installing an energy centre, including a CHP plant, which will serve over 450 apartments, a nursery unit, primary care trust and commercial units. SSE will also undertake all associated heat, electricity and gas infrastructure, metering and billing customer services, long-term operations and maintenance services and all fuel procurement requirements. Vital Energi is SSE's main contractor on this development and is responsible for all elements relating to the installation of the required energy centre and the heat distribution network.

Ian Marchant, SSE Chief Executive, said: 'Our investment in Vital Energi demonstrates our commitment to providing sustainable solutions for our customers throughout the UK and supports our existing Energy Services business. We believe that towns and cities can play a significant role in fighting climate change, through the use of more efficient community heating projects which can also generate electricity. In locations with high heat demand density and smaller property sizes, community heating with CHP is likely to be one of the most effective and economic ways to deliver Carbon savings.'

Solid results, good new business and a dividend up 20%!

Scottish & Southern Energy said at the release of its half year results that it is set to supply power to Irish industrial and commercial customers by the first quarter of 2008.

SSE's move follows the merging of the Northern Irish power market with the Republic of Ireland market in November. CEO Ian Marchant told reporters: 'We will be open to business and customers [in Ireland] by Q1 next year.'

'We decided one year ago that the all-Ireland market would be an attractive market to enter.' SSE already has a license to supply to all customers in Ireland.

'We'll focus initially on industrial and commercial customers,' he added. 'We will support that with generation from our GB portfolio over the Irish interconnector,' where the company has 5 MW of capacity.

'At some point it will lead to generation build on the island of Ireland. Whether that means acquisition or investment, we have both options open to us.'

In the UK, Marchant told Thomson Financial News that gas price cuts for its residential customers this winter is 'unlikely' due to high wholesale prices. 'To see price cuts this winter we would have to see a collapse in wholesale gas prices like last year. It looks unlikely because gas is more than double what it was last year.'

Much of the problem in predicting the future for retail prices is caused by volatility in the market, Marchant added. 'Future wholesale gas prices have been very volatile. It is difficult to understand why prices have done that and it is therefore difficult to make a call on the future of retail prices.'

SSE reported a strong set of half year results to Sept-end, boosted by earnings from its generation and supply (G&S) business which benefited from lower wholesale prices earlier in the year. G&S generated operating profit of 474.3 mln stg, up 59 pct from 298 mln last year, driven mainly by lower wholesale energy prices. Scotia Gas Networks also improved its contribution, up 87 pct from 22 mln stg last year to 41.1 mln stg.

The company's adjusted pretax profit was up at 664.7 mln stg from 466.5 mln over the same period last year, ahead of analysts expectations. Adjusted earnings per share rose to 57.2 pence from 40.4p, also slightly ahead of analysts' predictions. The interim dividend beat analyst expectations, set at 18.1 pence, up from 15.1p last year.

In a note, Citigroup said: 'Full year dividend is now likely to be up 20 pct to 66p giving a 4.4 pct yield. SSE is gradually increasing leverage through investment, share buyback and enhanced dividends.'

Marchant also spoke of SSE's intention to grow in renewables, but struggled to get all its wind farm proposals off the ground. 'There has been some progress in renewables,' he said. 'We've been disappointed with the amount of consents we have got. Only two of our wind farms were given consent and we would like there to have been more.'

About government support for such projects in Scotland, Marchant said: 'We have said to the Scottish government, 'if you're not careful you will get left behind.''

Marchant said that SSE is looking at further growth into water supply. SSE has already been granted its first inset appointment in southern England, supplying 950 homes, which Marchant said is 'the first of many' future inset appointments.

More green credentials for SSE:

Scottish & Southern Energy said it has completed the acquisition of the UK's largest dedicated biomass power generation plant for 49.25 mln stg. It announced last November that it was buying power generator Slough Heat and Power Ltd from property group Segro PLC, formerly known as Slough Estates PLC.

Slough Heat and Power includes a combined heat and power (CHP) plant with potential generating capacity of 101 megawatts. The plant is the UK's largest dedicated biomass energy facility and its main sources of fuel are wood chips, biomass and waste paper. The site has its own fibre fuel processing plant, which takes delivery of waste paper products and converts these into useable fuel.

Part of the plant is contracted under the Non-Fossil Fuel Obligation and part of it produces more than 200 gigawatt hours of output qualifying for renewable obligation certificates (ROCs), which is equivalent to around 90 megawatts of wind generation.

Around 140 staff are joining SSE as a result of the acquisition.

SSE chief executive Ian Marchant said he was particularly pleased SSE now owns and operates the UK's largest dedicated biomass energy facility, although he added that all the assets at Slough were important.

'As well as reinforcing our position as the UK's leading generator of electricity from renewable sources, this will give us a platform from which to build up our interests in biomass and waste-to-energy, areas which we believe will become increasingly important over the next decade.'

Scottish & Southern Energy said customer gains made it the UK's second largest supplier of electricity and gas in the nine months to December 31st.

The group forecast results for 2007/08 in line with current broker forecasts.

SSE said the number of electricity, gas and telecoms customers increased by 650,000 to 8.4 mln during the period, while the number of customer complaints received by industry watchdog Energywatch fell 22% to 495 against the same time a year ago.

The company said it remains on course to deliver sustained real dividend growth in the years ahead and, specifically, to deliver at least 4% annual real growth in respect of 2007/08, 2008/09 and 2009/10.

'More immediately, it is on course to deliver financial results for 2007/08 as a whole which are in line with the current consensus of brokers' forecasts,' it said in a trading statement.

I sold out yesterday at 1260p, just as well when you look at the RNS below, a very lucky boy indeed. I had a feeling that sse debt was starting to look a tad too high, but at least they are acting now. I had planned to buy back in at 1070p, but will wait for now.

...........................................

Scottish and Southern Energy has announced a placing of around 40 million shares, representing up to 5% of its issued ordinary share capital, in a move to bolster its balance sheet and fund investment of up to 6.7bn over the next five years.

The placed shares will carry the right to SSE's interim dividend of 19.8p per share declared on 12th November 2008, and to subsequent dividends.

But they haven't yet decided at what price the placing will be. Worth watching for a possible bargain, imo.

Worth waiting for things to settle down, hopefully before the ex divi date 18th Feb at 19.8p.

New article and analysis, click HERE

NOTTINGHAM STREET LIGHTING PFI

SSE (Scottish and Southern Energy plc), through its wholly-owned subsidiary Tay
Valley Lighting (Nottingham) Ltd has been awarded a 25-year contract with
Nottingham City Council for the replacement and maintenance of over 40,000
lighting columns and illuminated signs in the city, under the Private Finance
Initiative (PFI). It was appointed preferred bidder in March 2010.

This latest contract takes the number of local authorities with which SSE has
long-term street lighting replacement and maintenance PFI contracts to 11 and
the number of lighting units covered by such contracts to over 550,000.

Colin Hood, Chief Operating Officer of SSE, said:

"SSE is well
established as the UK's leading street lighting contractor, and this latest
contract will build on that. The Nottingham Street Lighting PFI will create
safer and improved lighting for the people of Nottingham, and we will work hard
to make sure a high standard of service and delivery."

EDF Sets Second UK Grid Sale Bid Date For June 21-Source
By Carol Dean
Of Dow Jones Newswires

LONDON (Dow Jones)

State-controlled utility Electricite de France SA (EDF.FR) has requested second round bids by June 21 in the sale of its U.K. power grids, said one person familiar with the situation Wednesday.

These bids are binding and require the bidder to disclose its financing arrangements for the acquisition, the person said.

Binding offers were initially expected to take place by the end of May but the process has been delayed to enable the potential buyers to carry out their due diligence and to enable the trustees of the U.K. grids business pension plan to undertake a review of bids made to date, the person said.

As previously reported by Dow Jones Newswires, the three potential buyers comprise Hong Kong-based Cheung Kong Infrastructure, or CKI; the U.K. utility Scottish and Southern Energy PLC (SSE.LN) along with Canadian infrastructure fund Borealis; and sovereign wealth fund Abu Dhabi Investment Authority, Macquarie Capital and Canada Pension Plan.

Indicative bids were submitted by these three consortium in March, people close to the matter previously told Dow Jones Newswires.

Buyers are likely to be looking at valuations of around GBP4 billion to GBP4.5 billion while EDF may be looking at GBP4.5 billion to GBP5 billion for the assets, the people said.

CORRECT:Scottish&Southern Not Planning EDF Distribution Networks Deal
("Scottish & Southern Not Planning EDF Distribution Networks Deal," at 0614 GMT, misstated the company code for EDF Energy in the first paragraph. The correct version follows:)

LONDON (Dow Jones)

Scottish & Southern Energy PLC (SSE.LN), an electricity company, said Tuesday it will not seek to acquire an ownership interest in the electricity distribution networks currently owned by EDF Energy Networks (EDF.FR) on a scale that would need to be funded by issuing new shares.

MAIN FACTS:

-Scottish & Southern will continue to work with Borealis Infrastructure (Borealis) in the current sale process being run by EDF, the outcome of which could, potentially, result in SSE having a small ownership interest in the networks.

-Shares closed at 1052 pence Friday.

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