|Bid||1,099.50 x 0|
|Ask||1,100.00 x 0|
|Day's Range||1,094.50 - 1,102.50|
|52 Week Range||997.80 - 1,287.00|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||7.97|
|Earnings Date||Nov 13, 2019|
|Forward Dividend & Yield||0.97 (8.86%)|
|1y Target Est||1,324.00|
SSE is in talks about selling its UK energy supply business to Ovo, a deal that would see its smaller rival become the second largest supplier of electricity and gas in the market behind British Gas. SSE said in a statement late on Saturday in the UK that the discussions “are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into”.
Britons could see a 6 billion pound cut in energy bills over five years from 2021, saving the average household 40 pounds per year, under plans to curb what gas and electricity network firms can pay shareholders. Regulator Ofgem, which introduced a price cap on standard energy bills in January after lawmakers said customers were being overcharged, is now targeting the operators whose network fees make up around a quarter of British household energy bills. Ofgem said it plans to cut the amount network firms pay their shareholders, known as the "cost of equity range" by almost 50% for the next regulatory period starting in 2021.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Sir Philip Green's retail empire Arcadia ...
British utility stocks are trading at a growing discount to euro zone peers as investors fear the country's deepening political crisis could trigger a general election that ushers in renationalisation of the industry, worth $76 billion (£59.9 billion). The opposition Labour Party has said it wants to nationalise energy and water infrastructure if it can oust Prime Minister Theresa May's Conservatives from power, reversing decades of pro-privatisation policies. Simon Webber, lead portfolio manager on the global and international equities team at Schroders said those fears were "another overhang" for utilities, already subject to a discount like other UK assets because of Brexit uncertainty.
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.
(Reuters) - British energy supplier SSE on Wednesday announced a share buyback of up to 100 million pounds of its ordinary shares under a capital return plan it announced in February. The company, which ...
The FTSE 100 advanced 0.8% and outperformed its European peers. The FTSE 250 was roughly flat. Markets were initially upbeat after U.S. President Donald Trump said talks between Beijing and Washington had not collapsed, terming the Sino-U.S. conflict as "a little squabble".
Britain's opposition Labour Party intends to take energy networks back into state ownership if elected, prompting infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy. Labour's shadow business and energy secretary, Rebecca Long-Bailey, late on Tuesday published party plans via twitter to renationalise the country's 60-billion-pound energy networks and establish a National Energy Agency. Britain's energy infrastructure, such as gas pipes and electricity cables, is owned by several firms including SSE, National Grid and Iberdrola's Scottish Power.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Shareholders have publicly rebuked ...
Britain and Ireland's largest trade union Unite said SSE would cut 444 jobs, or around 5 percent of employees, in its retail business, blaming a lack of interest from customers for the smart meter devices that could help cut energy emissions. Britain has a goal to roll out around 50 million smart meters to almost 30 million homes by the end of 2020. "Like a number of suppliers, we are facing challenges due to competition increasing, the introduction of the energy price cap and higher operating costs," Chief Operating Officer and Co-Head of Retail, at SSE Energy Services Tony Keeling, said.
British energy supplier Pure Planet, in which oil giant BP has a 25 percent stake, has cut its average annual dual gas and electricity price by 2.4 percent, it said on Wednesday. The cut is the company's second price drop this year and comes after all of the country's 'big six' suppliers raised their average prices around 10 percent in April in line with an increase in the energy regulator's price cap.
Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November. The company, which has a smaller refining business than rivals, fared slightly better than BP, Exxon Mobil, and Chevron which saw sharp declines in profits partly due to lower refining margins. Equinor's domestic and international oil and gas production units both beat forecasts, while its refining, marketing and renewable energy unit was largely in line with analysts' expectations.
The steady decline of British wholesale gas prices shows no sign of reversing this summer, which should provide some relief to households when it is reflected in a lower price cap on energy tariffs this autumn. A cap on default electricity and gas bills - a flagship policy of British Prime Minister Theresa May to end what she called "rip-off" prices - came into force in January to set a maximum price suppliers can charge consumers on certain tariffs. Energy market regulator Ofgem said it would remove around 1 billion pounds of overcharging from consumer bills by forcing suppliers to limit the price of their default tariffs to the level of the cap, or below.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Alistair Phillips-Davies became the CEO of SSE plc (LON:SSE) in 2013. This report will, fi...