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We are the only company listed on the London Stock Exchange that has economically-regulated businesses like networks and market-based businesses like electricity generation and energy supply in the UK.
In December 1998 we were formed with the merger of Scottish Hydro Electric and Southern Electric.
We supply electricity, gas and other energy services to some 9.5 million customers in the energy markets in Great Britain and Ireland, focusing on strong products, good service and value for money.
We distribute electricity to 3.5 million homes and businesses across one third of the UK’s total land area.
Our latest annual report
Our first commitment is to ensure energy supplies are safe and reliable. But we also provide real, practical support which we hope will bring lasting benefit to communities in a number of ways.
Clyde has the largest wind farm Community Investment Fund in Scotland which is expected to be worth around £22million (£875,000 a year for the lifetime of the wind farm).
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Leading UK energy company SSE is confident it will have met its targets under existing energy efficiency programmes and is preparing to tackle the Government’s new Energy Company Obligation (ECO) from 1 January 2013.
We have issued an open letter to the renewables industry in Scotland updating them on our plans to develop the transmission system in the north of Scotland.
Dennis Breugelmans has been appointed Managing Director of Wind Towers (Scotland) Ltd, with effect from 1 January 2013.
Wiltshire Youth Canoe Club, based in Melksham, has received new specialist waterproofs and buoyancy aids thanks to energy company SSE.
SSE, through its wholly-owned subsidiary SSE E&P UK Limited, has entered into an agreement with BP to acquire its 50% working interest in the Sean gas field in the Southern North Sea. SSE will pay a total cash consideration of $288 million, based on an effective date of 1 January 2012.
SSE employees have volunteered more than 26,000 hours of their time to community organisations and charities in 2012.
SSE Renewables, the renewable energy development division of SSE, welcomes today’s unanimous decision by the Highland Council South planning committee to raise no objection, subject to conditions, to the proposed Bhlaraidh wind farm, located north-west of Invermoriston. The final decision on the proposal now rests with Scottish Ministers and is expected next year.
SSE Renewables, the renewable energy development division of SSE, welcomes the decision by both South Lanarkshire Council and Scottish Borders Council to raise no objection to the proposed Clyde wind farm extension, situated between Biggar, Abington and Moffat.
Scottish Hydro Electric Power Distribution (SHEPD), the company that owns and operates the power distribution system in the North of Scotland, is to identify zones where it could introduce a new ‘smart grid’ system.
SSE has become the only major energy supplier making its cheapest tariff (Discounted Energy April 2015 – a 2% discount off the standard variable rate for a fixed term) available to prepayment meter customers, delivering on a promise made as part of Building Trust, a set of 20 commitments to improve the energy market for customers.
The Government has just published over a thousand pages of information, which shows just how complicated the proposed electricity market reforms have become.
SSE, known locally as Scottish Hydro, has helped fund the £220,000 refurbishment of the Fort Augustus village hall with £88,000 of community funding made available through its Glendoe hydro-electric scheme.
SSE confirms that Greater Gabbard Offshore Winds Ltd (GGOWL) has received the First Partial Award of Fluor Ltd's claim against it. The Award is in GGOWL's favour, requiring no payment to be made by GGOWL to Fluor Ltd. There are a number of related claims which remain to be determined and these will be finalised at the next stage of the proceedings.
SSE Utility Solutions (SSEUS) has passed the milestone of connecting 100,000 properties to the gas distribution network in the UK with the connection of Liverpool International Business Park in Merseyside.
SSE, through its wholly-owned subsidiary SSE E&P UK Limited, has entered into an agreement with Perenco to increase its equity stake in three producing gas fields in the Southern North Sea – Apollo, Minerva and Mercury. SSE will pay a total cash consideration of US$52.75m (£33m).
SSE plc has announced half year results for the six months to September 2012.
SSE has become the first major energy supplier to announce its support for the Energy Bill Revolution, a public alliance calling for the Government to reinvest income from green taxes in measures to improve the energy efficiency of the UK’s homes, keeping them warm and lowering costs.
SSE and the University of Highlands and Islands have today signed a ‘partnership agreement’ to collaborate and work together to maximise the benefits to the people of the Highlands and Islands from the low carbon energy revolution in the Highlands and Islands.
Around 100 home owners in Raigmore, Inverness, are now benefitting from a transformational energy efficiency makeover following a £1.2m investment from SSE.
SSE, the UK’s second largest energy supplier, has begun the roll-out of ‘Smart Services’ - a new community based energy adviser service. Smart Services will initially be trialled in South Wales and Central / Northern Scotland, and involve a team of around 60 energy advisers. Ultimately, this business could result in the creation of several hundred new jobs across the UK.
Scottish Hydro Electric (SHE) Transmission plc (formerly SHETL) have today published an open letter on the progress of the Western Isles transmission project
Beatrice Offshore Windfarm Ltd (BOWL), the joint venture partnership formed between SSE Renewables (75%) and Repsol Nuevas Energias UK (25%) has submitted an application to The Moray Council for planning permission in principle to develop the onshore transmission works associated with connecting the offshore wind farm to the electricity grid.
Scottish and Southern Energy Power Distribution (SSEPD), the company responsible for distributing electricity to homes and businesses in the north of Scotland and the south of England, is inviting stakeholders and customers to share their views and influence how the business is run over the next decade.
SSE Renewables welcomes today’s decision by the Highland Council to raise no objection to the Coire Glas pumped storage hydro electric scheme proposed for the Great Glen. The final decision on the proposal rests with Scottish Ministers, but as the scheme would be located in the Highlands, the local authority’s opinion is taken into consideration.
SSE Renewables, the renewable energy development division of SSE, was delighted to receive consent to construct and operate a 23MW, 10 turbine wind farm at Cour, 21km south of Tarbert in Argyll & Bute on October 17 2012.
Seagreen Wind Energy Ltd (Seagreen) has submitted applications to the Scottish Government for consent to build and operate two 525 Megawatt (MW) offshore wind farms in Phase 1 of its Firth of Forth Offshore Wind Zone. Seagreen is a joint venture partnership between SSE Renewables and Fluor Limited. The Firth of Forth Zone is part of The Crown Estate’s UK Round 3 Offshore Wind Development Programme.
In support of Big Energy Saving Week, which starts today, leading energy supplier SSE has strengthened its commitment to help customers save money through a targeted customer awareness campaign and the introduction of a new community-based energy adviser service, Smart Services.
SSE is committed to changing energy for the better and has already helped transform the market since Ofgem first challenged suppliers with its Retail Market Review in November 2010. Acting on customer feedback, SSE was the first major supplier to make substantial changes in order to improve simplicity, transparency, customer service and fairness in the market. This included a radical simplification of our products to just three tariffs, offering Annual Energy Reviews to all customers and being the first to put an end to doorstep sales.
The Prime Minister stated at PMQs that he will be legislating so that energy companies have to give their lowest tariff to their customers.
Nine new recruits have started work at Perth based energy company, SSE, as part of its Skills Experience Programme – a programme in partnership with the children’s charity Barnardo’s Scotland to help secure work placements and training for unemployed young people.
SSE plc, through its wholly-owned subsidiary SSE Generation Ltd., has today completed the acquisition announced in June 2012 of Endesa Ireland Ltd from Endesa Generacion SA for a total cash consideration of €308m (£246m) plus an estimated €53m (£42m) for working capital. In addition to the transaction amount, SSE expects to incur a further €137m (£110m) to complete a 460MW CCGT (combined cycle gas turbine) currently under construction at Great Island, Co. Wexford.
SSE plc will enter its close period on 1 October 2012, prior to the publication on Wednesday 14 November 2012 of its financial report for the six months to 30 September 2012.
SSE’s new innovative training programme, which offers 16-24 year olds in the Highlands the opportunity of a career within the energy industry, opened its doors for the first time this week to 28 young people from the Highlands.
Will Morris has been appointed to the new role of Managing Director, Retail, for SSE, where he will have Management Board level responsibility for energy supply and energy-related services. In addition, Martin Pibworth, currently SSE’s Director of Energy Trading, will become Managing Director, Energy Portfolio Management, in succession to David Franklin, who has decided to retire from SSE by the end of the current financial year.
Leading Scottish environment charity Keep Scotland Beautiful and energy firm Scottish Hydro have announced a £300,000 sponsorship deal, helping secure the future of the charity’s Scottish Eco-Schools programme for the next three years on the day an East Renfrewshire high school was awarded the 1,500th Scottish Eco-Schools Green Flag.
SSE’s Clyde wind farm has today been officially opened by Scotland’s First Minister, Alex Salmond. Clyde is one of the largest single consented wind farms in Europe and represents SSE’s largest onshore wind project to date.
SSE welcomes the decision by the Scottish Government to maintain the banding level for conventional hydro electric schemes at 1 ROC.
SSE plc has successfully launched an issue of hybrid capital securities, which is perpetual and subordinate to all senior creditors. The dual tranche issue comprises US $700m and €750m and has an all-in euro funding cost to SSE of around 5.6% per annum.
All of the 140 turbines at Greater Gabbard, the 500MW (megawatt) offshore wind farm developed in the Thames Estuary by Greater Gabbard Offshore Winds Limited (GGOWL) have been commissioned and exported electricity. GGOWL is now responsible for the day-to-day operation of the complete wind farm. GGOWL is a 50-50 joint venture partnership between a subsidiary of SSE plc and RWE npower renewables and they will share the electricity output 50-50.
SSE Telecommunications Ltd (SSE Telecoms, a wholly owned subsidiary of SSE Plc) has been awarded a 10 year, £30 million contract to provide 6500km of fibre network to over 30 UK sites connected to the ‘Janet’ network infrastructure used by the UK’s research and education community.
Two hundred new recruits have started at SSE’s Customer Service Centre in Havant, in new roles created to deliver the energy firm’s recent pledge to offer all customers an Annual Energy Review (AER).
Around 45 new energy apprentices have joined SSE’s industry renowned apprentice scheme in Scotland this week, taking up their tools for the very first time at the power giant’s SSE induction programme held in Perth. The talented individuals were hired after a rigorous selection procedure and will now join the company’s prestigious apprentice training programme. In total 104 apprentices will join SSE UK wide.
Generation at the 100MW Glendoe hydro electric scheme near Loch Ness, owned and operated by SSE plc, has re-started, with around 3GWh (gigawatt hours) of electricity already being produced and exported to the transmission network.
In September 2010 SSE successfully issued £1.16bn of hybrid capital securities , a financial instrument which is perpetual and subordinate to all senior creditors. SSE is now proposing a new issue of hybrid capital securities. The transaction is expected to launch, subject to market conditions, following a roadshow in Asia and Europe to commence on 3rd September 2012.
SSE, Ecoisland’s national energy partner, through its supply brand Southern Electric, is today launching ‘Ecoisland - Community Energy’, an innovative energy scheme enabling Southern Electric customers on the Isle of Wight to reduce their costs and raise money for Ecoisland.
On 15 October 2012, SSE will introduce a series of changes affecting the level and structure of its tariffs.
SSE Renewables and Scottish Borders Council will shortly hold information days to inform the local community and local businesses of plans for the consented Langhope Rig Wind Farm, near Ashkirk, which is due to go into construction in Spring 2013.
SSE Renewables has withdrawn its interest in a 26 turbine, 94 Megawatt wind farm at Pairc on the Isle of Lewis. Following assessments of environmental data and consultation with stakeholders it has concluded that a project of this size is no longer feasible due to environmental constraints, particularly in relation to predicted bird collision risks.
SSE is now recruiting for its new innovative training programme which offers 16-24 year olds in the Highlands the opportunity of a career within the energy industry. The 12 month programme will offer 28 young people the opportunity to gain some valuable hands on experience of life in the energy industry and the skills learned will help recruits develop a successful career in the future.
SSE Renewables, the renewable energy development division of SSE, has this week submitted its addendum to Argyll & Bute Council for the Cour wind farm application in Kintyre.
SSE has agreed to acquire from Marsh Wind Technology Ltd its 40.05% share in Wind Towers Ltd, taking SSE's total shareholding in Wind Towers Ltd to 80.1% The remaining 19.9% of ordinary share capital is held by Highlands and Islands Enterprise. The transaction is expected to be fully completed in the next couple of weeks.
Standard & Poor's Rating Services have today affirmed SSE's long term rating of A-, and its short-term rating of A-2. At the same time the rating agency has changed SSE's rating outlook from stable to negative. The change in outlook has been triggered by poor wholesale market conditions and Standard & Poor's current view of the timing and likelihood of any market recovery. As stated in June 2012, SSE expects to issue further hybrid capital securities in the course of the next year.
SSE plc will today hold its Annual General Meeting in Bournemouth. This Interim Management Statement summarises SSE’s performance since the start of the current financial year, which began on 1 April 2012, and includes updates on operations and investments in SSE’s Networks, Retail and Wholesale businesses and on the financial outlook.
SSE has achieved the lowest ever weighted number of complaints for any energy supplier in the UK for the fourth quarter of the last financial year (January to March 2012). SSE is the only energy supplier to have ever achieved the coveted five stars since the Consumer Focus league table began in December 2010.
SSE welcomes the Select Committee's report, which examines the views of an extremely wide range of stakeholders, including financiers, NGOs, consumer groups and utilities, as an important contribution to the current electricity market reform (EMR) debate. The Report's conclusions and recommendations, the vast majority of which SSE supports, illustrate the level of concern that many organisations have with the Government's current direction of travel.
Today, Monday 23rd July, Mitsubishi Power Systems Europe, SSE, Technip Offshore Wind and Wood Group Renewables were joined by Dr Vince Cable, Secretary of State for Business, Innovation and Skills for the official public programme announcement of the £33m Efficient Offshore Wind Programme (EOWP) - set up to overcome challenges in the offshore wind industry, create over 100 jobs in the UK’s energy sector and help the UK drive for clean energy.
Leading electricity and gas company SSE plc is today (Thursday, 12 July) revealed as the Official Energy Partner of Glasgow 2014.
SSE Renewables, the renewable energy development division of SSE, has today submitted its proposal to the Scottish Government for a 26 turbine wind farm at Glencassley, north-west of Lairg, in Sutherland.
With around 200 regional businesses and service providers queuing up to meet the team behind Multifuel Energy’s £300m new plant at Ferrybridge Power Station, yesterday’s event has been hailed as a great success by the organisers.
Scottish Hydro has awarded over £510,000 to local projects in Alyth and Mount Blair through the Drumderg Wind Farm Community Fund since it opened in 2007.
Thousands of pounds in a local wind farm fund is still available for community projects – and the developer is now encouraging people to apply ahead of the next deadline for applications of July 16.
SSE Renewables, the renewable energy development division of SSE, has set out a series of commitments to Highland communities, including £50 million for community projects over the next 25 years, as it submits two new wind farm applications.
The University of Exeter, SSE, Consumer Focus and WWF, along with representatives from 12 other organisations, today published the results of a series of roundtables on UK energy policy. The final communique of the roundtables concluded that the Government’s draft Energy Bill and existing energy efficiency policies would in their current state, fail to deliver a secure, clean and affordable power sector for the UK and would result in the UK missing out on some key economic growth opportunities.
SSE is hosting an event for analysts and investors today (Wednesday 27 June) and tomorrow in Glasgow and at Clyde wind farm to present its approach to managing its large capital projects. SSE will set out the way it works to ensure that such projects are governed, developed, approved and executed in an effective manner.
SSE plc, through its wholly-owned subsidiary Airtricity Energy Supply (Northern Ireland) Limited, has today completed the acquisition of Phoenix Supply Limited, a regulated supplier of natural gas to 130,000 customers in Northern Ireland, from Phoenix Energy Holdings Limited, a Terra Firma company.
SSE plc is launching an exciting and innovative website today which will contribute to the economic well-being of the Highland economy. The innovative website - www.sseopen4business-highlands.com is designed specifically to offer Highland businesses, service providers and local suppliers the opportunity to do business with the UK’s second largest energy company.
SSE plc, through its wholly-owned subsidiary SSE Generation Ltd., has entered into an agreement with Endesa Generacion SA, to acquire the shares of Endesa Ireland Limited, the assets of which include plant in operation, under construction and with consent for development, for a total cash consideration of €320m (£256m) plus an estimated €43m (£34m) for working capital. Adding to SSE’s existing assets, this acquisition is a positive step forward in delivering a balanced generation and supply business in Ireland.
Walney (UK) Offshore Windfarms Ltd has today confirmed that its commissioning of the world’s largest operational offshore wind farm is now complete. All of the wind farm’s 102 turbines are fully operational and all have exported electricity.
SSE Renewables, the renewable energy development division of SSE, has completed final commissioning works at its Gordonbush wind farm site, near Brora in Sutherland.
The campaign to save The Crook Inn and provision of a new access bridge at Broughton Village Hall have been given a welcome cash boost from the Scottish Hydro Clyde wind farm community fund.
The Coalition of progressive European energy companies (SSE, Eneco, DONG Energy, EWE, Acciona, Sorgenia, PPC, EDP Renewables and Stadtwerke München) calls for a binding EU 2030 renewables target, to be included in the European Commission’s ‘Renewable Energy Strategy post 2020’, which is expected to be published tomorrow (6 June).
Southern Electric’s regional Customer Forum got off to a successful start when the first meeting took place recently at its Regional Head Office in Havant.
SWALEC’s first regional customer forum took place recently at its Regional Headquarters in Cardiff Gate and has been hailed a success by all parties involved.
Scottish Hydro’s first regional customer forum took place recently at its Head Office in Perth and has been hailed a success by all parties involved.
SSE Chief Executive, Ian Marchant, took the next generation of zero emission vehicles for a spin at the company's HQ today (Friday 18 May) as the latest hydrogen fuel cell car drove into the city for the first time.
SSE plc, through its wholly-owned subsidiary Airtricity Energy Supply (Northern Ireland) Limited, has entered into an agreement with Phoenix Energy Holdings Limited, a Terra Firma company, to acquire the entire issued share capital in Phoenix Supply Limited, a regulated supplier of natural gas to 130,000 customers in Northern Ireland.
SSE announced its full year results for the year to 31 March 2012. Lord Smith of Kelvin, Chairman of SSE said: "SSE has again delivered increases in the full-year dividend and in adjusted profit before tax demonstrates the resilience inherent in its balanced model of market-based and economically-regulated businesses, and the robustness of its strategy of focusing on operations and investment in each of those businesses. It also demonstrates the commitment and professionalism of the people who work for SSE throughout the UK and Ireland."
A broad coalition of energy companies have written to Edward Davey Secretary of State for Energy and Climate Change outlining real concerns about the Government's proposed 'Contracts for Difference' CFD proposal for subsidising new low carbon investments.
HRH The Prince Charles, Duke of Rothesay, officially opened SSE’s innovative Anaerobic Digestion (AD) plant at Barkip near Beith in North Ayrshire today.
SSE Plc has received a fine of £1.25M at Guildford Crown Court after being found guilty in May 2011 on two counts out of seven in a case brought against it by Surrey County Council Trading Standards relating to the use of doorstep sales aids in 2009.
In response to the IPPR report ‘The true cost of energy’, SSE agrees that Ofgem must do more to stop the practice of ‘predatory pricing’ but refutes the allegation, as reported in the media, that all of the ‘Big Six’ are involved in this practice.
Scottish Hydro’s Home Services division is expanding in to Renewable Heating Technologies, with Aberdeenshire the first location to have access to this new and exciting venture.
A groundbreaking energy efficiency trial by SSE plc in Cornwall has received approval from OFGEM as a means of ascertaining the carbon score of Residential Park Homes throughout the UK.
Beatrice Offshore Windfarm Ltd (BOWL) has submitted an application to the Scottish Government for consent to develop the Beatrice offshore wind farm in the Outer Moray Firth. BOWL is a joint venture partnership formed between SSE Renewables (75%), SSE’s renewable energy development division, and Repsol Nuevas Energias UK (25%) (formerly SeaEnergy Renewables).
Over the next 12 months, SSE will offer all of its customers a wide reaching energy review designed to ensure they are on the best product for their needs. The GB-wide roll-out follows a successful pilot involving over 1,000 customers. To support this initiative SSE will create 200 new jobs dedicated to delivering the reviews.
SSE, the UK’s second largest energy supplier, welcomes a new package of energy supply proposals announced today by the Department of Energy and Climate Change (DECC). The measures are designed to ensure energy supply companies offer customers fairer energy deals, practical advice and better customer service. SSE, independently recognised as the best for customer service among the leading energy suppliers, is fully committed to meeting and exceeding all of the proposed actions.
Staff at SSE Renewables Clyde Wind Farm are celebrating after the 100th turbine began exporting wind powered electricity to the grid.
The Viking Energy wind farm on Shetland has been given the go-ahead by Scottish Government Ministers, with a reduction in the number of turbines to 103.
33 deserving organisations in the communities of Brora, Golspie, Helmsdale and Rogart have benefited from the second round of awards from the Scottish Hydro Gordonbush Community Fund.
SSE welcomes the UK Government's announcement of a new competition for funding of commercial-scale Carbon Capture and Storage (CCS) projects in the UK.
SSE’s micro-business customers now have reassurance that where they have been under-billed due to a genuine billing error, SSE will accept full responsibility for this, and will not issue a ‘back bill’ to that micro-business for a period greater than twelve months. This policy is being introduced with immediate effect to around 200,000 micro-business customers.
SSE plc and Wheelabrator Technologies Inc. have entered into a 50:50 joint venture to develop a new £300m multifuel generation facility at SSE’s Ferrybridge power station in West Yorkshire.
SSE plc will enter its close period on 1 April 2012, prior to the publication on Wednesday 16 May 2012 of its financial report for the year to 31 March 2012.
SSE plc has completed a review of the reportable segments contained within its financial statements. The review was undertaken following the creation of SSE’s Management Board in January 2011 and following resulting changes in the way that SSE manages, reviews and reports internally its businesses.
SSE, the second largest supplier of energy in the UK, is inviting its customers across the country to share their views as it becomes the first energy supplier to establish regional customer forums.
Scottish Hydro is inviting applications to a £250,000 Sustainable Investment Fund, borne from its Gordonbush wind farm, from community groups keen to make a deep and lasting legacy within the communities of Brora and Golspie.
Scottish Hydro Electric Transmission Limited (SHETL), the licensed transmission owner in the north of Scotland, is planning to develop a 109 km subsea electricity cable between Caithness and Moray to transmit the large volume of existing and planned electricity from renewable sources in the north of Scotland.
SSE plc is today confirming its ongoing commitment to the Highland region with the announcement that 50 new roles will be created at its Highland headquarters in Inverness.
The two guilty verdicts reached at Guildford Crown Court on 10 May 2011 against SSE plc have been upheld today at the Court of Appeal in London.
From today Scottish Hydro customers will see exactly what costs go into making up their energy bills, including the amount of profit Scottish Hydro makes from supplying their home with the energy they need. The new easy to understand design follows extensive customer research, giving customers for the first time a detailed breakdown of the different cost components that make up their bill.
SSE is very supportive of your organisation’s objective with regard to the Big Switch – namely attempting to encourage consumers to get the best deal from the energy market. In its current form, however, I am afraid that SSE will be unable to participate, for the reasons outlined below.
SSE has achieved a five star rating by the statutory consumer champion Consumer Focus for the third quarter in a row. The league table published today shows that during the quarter from October until December 2011, SSE achieved a five star rating with the lowest number of customer complaints*. To date, SSE is the only company to achieve a five star rating and has topped the league table since it began in April 2010.
SSE, the UK’s leading generator of renewable energy opens its doors today on a landmark interactive renewable energy public exhibition, and the UK’s first dedicated free EV (electric vehicle) charging, hiring and parking facility. The custom built exhibition known as ‘Power of Now’ at Scottish Hydro Centre for Renewable Excellence is housed on the ground floor of SSE’s flagship building, One Waterloo Street opposite Central Station in Glasgow. The project celebrates renewable energy, showcasing exhibits alongside a free all-electric vehicle space under one roof for the first time anywhere in the UK.
SSE Renewables, the renewable energy development division of SSE, has this week submitted its proposal to the Scottish Government for a wind farm at Dalnessie in Sutherland.
Energy production from conventional hydro electric schemes operated in the North of Scotland by SSE Generation, the generation division of SSE plc, has reached the highest levels since records began in the 1930s - with four weeks of the 2011/12 financial year still to go.
Scottish Hydro Electric Transmission Limited (SHETL) has completed the construction of the first new tower in the project to replace the Beauly Denny power line.
SSE has considered the practical implications for its businesses of the consultations issued in January 2012 by the UK Government and the Scottish Government and they are set out below. In doing so, SSE is mindful of the fact constitutional arrangements are matters for voters.
SSE, the UK’s second largest energy supplier, is today introducing a dramatically simplified range of energy tariffs which it believes will meet the needs of the vast majority of customers through a choice of just four core products.
Southern Electric Power Distribution is today [February 21] officially launching an innovative £30 million low carbon network project which will revolutionise the way electricity is distributed and used in the future.
SSE and Shell Energy Europe (“Shell”) have agreed a 10-year gas supply agreement of 790mcm (292 Mth) per annum, commencing in 2015. This represents approximately 5% of SSE’s forecast typical annual gas requirements. The gas will be supplied as a firm delivery of 800,000 th/day, at a price linked to prevailing prices in the natural gas market.
SSE has completed the sale of its 25% stake in NuGeneration Ltd (“NuGen”), the joint venture company established to develop proposals for a new nuclear power station in West Cumbria, to NNB Development Company S.A. (“NNBD”) - a 50:50 joint venture between GDF Suez S.A. and Iberdrola S.A. The stake has been sold for an upfront cash consideration of £5.75m with a further contingent payment of £1.25m dependent on progress with the development of the West Cumbria site.
SSE Renewables, the renewable energy development division of SSE, has today received consent from North Ayrshire Council to construct an offshore wind turbine test facility at Hunterston in North Ayrshire.
SSE Renewables, SSE’s renewable energy development division, has submitted an application to the Scottish Government for consent to construct a new pumped storage hydro electric scheme of up to 600MW capacity to the north-west of Loch Lochy in the Great Glen. The scheme would help meet peak demand and would extract, store (up to 30GWh) and release energy to and from the electricity transmission system to help balance supply and demand for power at a national scale.
SSE has completed a private placement of senior notes with 22 US-based investors for a total consideration of US$700m (equivalent to around £450m). The senior notes consist of four tranches with maturities of 5, 7, 10, and 12 years, with a weighted average maturity of 10.3 yrs, and an all-in funding cost of c.4.25% once swapped to Sterling.
SSE has exceeded its targeted obligation for the Warm Home Discount Broader Group for this financial year and is now preparing for year 2 of the scheme, which will open on 1 April 2012.
SSE has announced today that its wholly-owned subsidiary, SSE Mineral Solutions Ltd will cease operations on 31 March 2012 for the foreseeable future.
The £1 billion Walney wind farm, which is a joint venture between DONG Energy (50.1%), SSE (25.1%) and OPW ( 24.8%), is being officially opened by Edward Davey, Secretary of State for Energy and Climate Change. With 102 turbines and a total capacity of 367.2 MW, Walney can supply up to 320,000 households a year with renewable power.
SSE is offering FREE cavity wall and loft insulation to all homeowners and private renters who currently have no or insufficient levels of insulation in their homes. Loft insulation could save households £175 annually and cavity wall insulation £135, by simply taking advantage of SSE’s FREE offer households could enjoy annual savings on their energy bills of up to £3101.
SSE’s industry renowned apprentice scheme is now open for new applicants, with over 100 new apprenticeship opportunities planned for this year.
SSE plc remains on course to deliver an increase in the dividend per share, an increase in adjusted profit before tax for the financial year to 31 March 2012 and to deliver on its key operational goals. This Interim Management Statement includes updates on operations, major projects, issues such as household customers’ energy consumption, other developments and an updated financial outlook.
Ofgem has today confirmed it is recommending that SSE’s electricity transmission business, Scottish Hydro Electric Transmission Ltd (SHETL), is fast tracked under the RIIOT1 process for the Transmission Price Control period April 2013 – Mar 2021. Ofgem will now publish its proposals on the business plan1 put forward by SHETL.
During Big Energy Week SSE is working with Citizens Advice, charities, consumer groups, switching sites, Ofgem and the Government to give practical advice to people across the country to help them spend less on heating and powering their home.
SSE will cut its unit price for household gas by 4.5% from 26 March 2012. Around 3.5 million households in Britain will benefit from the reduction, which will cut typical gas bills by around £28 a year1.
SSE, through its wholly owned SSE Ventures business, has completed a deal with Scottish Equity Partners (SEP) that involves SEP’s new Environmental Energies Fund (EEF) acquiring a portfolio of cleantech investments owned by SSE Ventures. As part of the deal, SSE Ventures has become a major partner in the new fund.
Scottish Hydro Electric Power Distribution (SHEPD) confirms that all 40,000 customers affected by the storm force conditions which hit Scotland on Tuesday will have their electricity supplies restored tonight (6 January). Hundreds of engineers worked tirelessly for days to restore electricity to customers who had been without power. These customers were spread throughout the SHEPD territory but were found mainly in Argyll and Bute.
Continuing progress in the construction of its large capital projects means that SSE plc now has over one gigawatt (GW) or one thousand megawatts (MW) of onshore wind farm capacity in operation for the first time.