Sse Share Discussion Threads

[wad collector] 03/9/2020 20:25

SSE fined £2m by Ofgem over 'inside information'

Energy supplier SSE has been fined £2.06m by the regulator Ofgem for failing to publish inside information about the wholesale energy market.

SSE failed to publish timely information about future availability of its generation capacity, Ofgem said.

This was likely to have had a significant effect on forward wholesale electricity prices, it added.

SSE said it had acted in "good faith", but admitted its actions had failed to meet Ofgem's requirements.

'Significant effect'
The fine relates to delays in disclosing a deal that SSE struck with National Grid in March 2016.



With 1 Billion shares in circulation , that is 0.2p off the EPS. Don't suppose that can be a corporation tax deductible expense...

[skinny] 17/8/2020 11:30

.

"Hydrogen is set to play a key role in the decarbonisation of the Humber through the Humber Cluster Plan, a study which will illustrate how the region can achieve net-zero emissions by 2040, potentially making it the first industrial cluster globally to do so.

SSE Thermal is working with the Humber Local Enterprise Partnership (LEP), membership organisation CATCH, and seven other businesses, to develop to comprehensive plan which highlights the importance of hydrogen and carbon capture technologies".

[unastubbs] 12/8/2020 21:25

a thorough analysis from a seeking alpha contributor

[bountyhunter] 31/7/2020 11:22

on the dip :)

[bountyhunter] 31/7/2020 11:22

Should be much higher given the yield and green credentials - added

[skinny] 23/7/2020 10:34

Goldman Sachs Buy 1,348.50 1,427.50 1,483.00 1,536.00 Reiterates

[sicker] 23/7/2020 09:09

Rather than dropping 5.6p it's dropped 5.6%

[bountyhunter] 23/7/2020 09:06

usually the way, maybe something to do with tax, will gradually pull back I expect

[sicker] 23/7/2020 09:04

Down a bit more than the dividend :-)

[wad collector] 23/7/2020 08:56

Good to see something in my portfolio paying a dividend! 56p

[saltaire111] 23/7/2020 08:04

Ex-d today.

[skinny] 17/7/2020 08:18

Deutsche Bank Hold 1,396.50 1,397.00 1,100.00 1,270.00 Reiterates

[wad collector] 16/7/2020 19:28

They also clarify , what I missed, that the Ofgem document is a draft proposal not a done deal.

[wad collector] 16/7/2020 12:33

I see amongst that TS is a comment


- The publication of Ofgem's Draft Determination for the RIIO-T2 price control period. SSE believes that, without changes during the consultation period, the draft settlement risks failing to deliver on net zero, inadequately reflecting stakeholder and customer needs, and falling short in attracting the significant investment required.



So it is only a draft. so far. share price pushing to 3 month high presumably more on divi news. I am bemused by the confident assertion of the long term divi plan, can they really be sure they will have the future profit to afford it? Hope so.
Xd 56p in a week.

[adrian j boris] 16/7/2020 10:06

EXTRACT


Josh White
Sharecast News
16 Jul, 2020 07:40
SSE to still declare dividend, Anglo American reports 'strong' production


Stocks to watch

Energy company SSE said it still intended to declare a dividend in November as the impact of Covid-19 on the business remained in line with expectations during the first three months of the fiscal year. The company guided for a £150m - £250m hit to operating profits and a 24.4p a share payout. “SSE's dividend provides income for people's pensions and savings and is particularly vital given the economic consequences of the coronavirus pandemic,” the company said on Thursday.



Anglo American reported “strong” performance at Minas-Rio in Brazil on Thursday, with 6.2 million tonnes of high quality iron ore production, reflecting ongoing P101 productivity improvements. The FTSE 100 mining giant said that at Collahuasi in Chile, meanwhile, copper production increased 38% due to strong performance. Metallurgical coal production decreased 32% to four million tonnes in the second quarter, due to two incidents underground at Moranbah and Grosvenor, as well as longwall moves at Grosvenor and Grasstree.

[bountyhunter] 16/7/2020 07:26

Header updated

[bountyhunter] 16/7/2020 07:19

plus positive news on the 5-yr dividend plan

"SSE continues to target delivery of the five-year dividend plan to 2022/23, including an 80p + RPI full-year dividend for 2020/21. It intends to declare a 24.4p interim dividend in November 2020 for payment in March 2021, based on an estimated RPI of 1.5%."

[skinny] 16/7/2020 07:09

.

HEADLINES

This trading statement:

· sets out key developments since publication of SSE's Preliminary Full-year Results Statement on 17 June;

· provides an update on performance of SSE's businesses for the first quarter of this financial year; and

· reiterates that SSE continues to target delivery of its five-year dividend plan to 2022/23.

Alistair Phillips-Davies, Chief Executive of SSE, said:

"Throughout the first quarter of 2020/21, our key workers continued to support the national coronavirus response by supporting the safe and reliable supply of electricity. Whilst the wider economic implication of the coronavirus continues to impact on the business, we've been investing in the green economic recovery and progressing our £7.5 billion capex plan of low-carbon investments, primarily in renewables and electricity networks.

"At the same time, we are delivering the comprehensive financial plan we set out last month at our full year results, continuing work on our disposal programme and successfully issuing over £1bn in hybrid bonds. Although the key months of our financial year are still ahead of us, the steps we are taking leave us well placed to deliver on our financial objectives of promoting the long-term success of the company and paying dividends."


more.....

[wad collector] 09/7/2020 09:59

RIIO-2 draft document published today , and it looks like Ofgem wants to put more of a long term squeeze on the industry, and more specifically shareholder returns. Surprised the share price not taken more of a hit today , presumably the market expected it to be almost this bad.
However , if Ofgem and HMG keep nibbling away at the shareholder returns , egged on by a public perception of fatcats and tighter personal finances , this could sink quite a lot further.
I am still about 12% underwater here , so reluctant to take that loss, so perhaps unwisely , will continue to hold.

[wad collector] 02/7/2020 13:53

I see that amongst the various bonus shares awarded yesterday (mostly under the reward for not leaving the company scheme) it includes about 270k shares as a performance bonus for the 3 yr period starting April 2017.
Now I get the reward concept for a good share price performance , but over this period the share price went down from £15 to £12.
I think it is a fundamental problem with the bonus culture that there is no payback required for poor performance. The worst that can happen is that they lose a bonus (or only some of it in this case).

[poikka] 29/6/2020 11:20

BP's getting another £4bn - and up goes SSE :).

[jrphoenixw2] 24/6/2020 21:50

Thanks BountyH!