|Bid||1,309.00 x 0|
|Ask||1,309.50 x 0|
|Day's range||1,303.00 - 1,319.00|
|52-week range||997.80 - 1,325.00|
|Beta (3Y monthly)||0.76|
|PE ratio (TTM)||9.49|
|Earnings date||13 Nov 2019|
|Forward dividend & yield||0.97 (7.84%)|
|1y target est||1,324.00|
A European Union court ruling last year forced Britain to halt payments under its capacity market scheme, which pays generators to be available during periods of high demand, pending a review by the European Commission. SSE, one of Britain's so-called Big Six energy firms, said the continuing suspension of the payments meant the company was unable to recognise pending payments totalling 148 million pounds. The European Commission launched the review of Britain's capacity market scheme in February but industry experts have said this could take 12 months to complete.
SSE's retail energy business is the third-largest supplier of the "big six" in the British market, supplying energy and related services to around 3.5 million household customers. Ovo, set up only 10 years ago, has expanded to be Britain's largest independent energy supplier, with 1.5 million customers. The deal comes after SSE and Germany's Innogy scrapped plans last year to merge their British energy retail operations.
British energy supplier SSE Plc plans to shut its Fiddler's Ferry coal-fired plant in northwest England by March 2020, saying the loss-making plant could not compete with more efficient gas and renewable energy options. Britain plans to close all coal-fired power plants by 2025 as a part of efforts to meet its climate goals and coal plants have become increasingly uneconomic due to levies on carbon dioxide emissions. ..At nearly 50 years old, the station is unable to compete with more efficient and modern gas and renewable generation," Stephen Wheeler, Managing Director of Thermal Energy at SSE said.
While a British election is not due until 2022, and opinion polls show the main opposition party falling short of a governing majority, Labour laid out plans this month to offer shareholders less than current market value under a future nationalisation. SSE's chief executive said there was huge uncertainly over Labour's plans and a question mark over whether they would even achieve a majority in parliament to enact the strategy if they were to get into power. Energy regulator Ofgem was told by parliament last year to cap energy prices after lawmakers said customers were being overcharged for electricity and gas.
Hopes that the United States' trade tensions with China and Europe will dissipate, combined with a weaker pound, lifted Britain's main index higher on Wednesday, as a slew of earnings reports also drove share moves. The FTSE 100 advanced 0.8% and outperformed its European peers. The FTSE 250 was roughly flat.
(Reuters) - British energy company SSE Plc has approached companies including broadband provider TalkTalk Telecom Group about a deal to sell its household supply unit, Sky News reported http://bit.ly/2Lm9c2T on Saturday.