SSE has said that it expects to hit profit forecasts this year even though renewable energy output has been lower than expected and it continues to lose customers. The energy group also hopes to have agreed a sale or separate listing of its retail supply division by the second half of next year. Gregor Alexander, the finance director, told shareholders at the company’s annual meeting yesterday that they may have cash returned to them or shares in the new entity under those scenarios. SSE, which is headquartered in Perth, employs 20,000 people in the UK. It wants to divest its household gas and electricity supply division to focus on its electricity networks and its renewable interests which include wind and hydro assets. A merger with Npower was called off after the UK government’s introduction of a price cap on bills.
Times 19th July 2019 read more »
The National 18th July 2019 read more »
SCOTTISH Hydroelectric owner SSE lost another 70,000 household customers in the latest quarter and saw renewable energy output fall well below expectations amid unhelpful weather conditions.
Herald 19th July 2019 read more »