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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sse Plc | LSE:SSE | London | Ordinary Share | GB0007908733 | ORD 50P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -12.00 | -0.73% | 1,643.00 | 1,642.50 | 1,643.50 | 1,666.00 | 1,642.50 | 1,657.00 | 1,450,385 | 14:13:32 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electric Services | 12.49B | -60.6M | -0.0555 | -298.38 | 18.1B |
From Apr 2019 to Apr 2024
By Carlo Martuscelli
SSE PLC (SSE.LN) said Thursday that it plans to close its last remaining coal power station due to it no longer being economically viable in the face of competition from gas- and renewable-energy sources.
The energy company said that the Fiddler's Ferry power station, in northern England, which has an operational capacity of 1,510 megawatts, employees 158 people. Following the closure, SSE said it hopes to be able to redeploy at least some of the plant's personnel.
The U.K.-listed company said it is beginning consultation with both employees and trade unions, with a view of shutting the plant by March 31, 2020.
The plant is currently loss making, and has had limited success in power-market auctions. The company also cited environmental considerations for its decision.
"SSE itself has adopted a target to reduce the carbon intensity of the electricity it generates by 50% by 2030, compared to 2018 levels," it said.
It also said that its Peterhead gas-fired power station, Scotland, wasn't able to secure a conditional capacity market agreement for the year from October 2019 to September 2020. It said that the plant will continue to operate this winter regardless.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
June 13, 2019 08:50 ET (12:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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