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22 Jul, 2021 07:33

SSE reports good progress in first quarter

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SSE said it was making good progress on disposals, construction was progressing on major projects and its was on track to submit proposals to the regulator for transmission upgrades.

In a trading update the electricity group said it was committed to its five-year dividend plan but did not give guidance on annual earnings.

SSE said output of electricity from renewable sources in which it has an interest was 19% below plan in the three months to the end of June, mainly because of weather conditions. The 403 gigawatt hours shortfall represents less than 4% of the annual forecast output, SSE said.

Gregor Alexander, SSE’s finance director, said: “We have delivered on our purpose through the coronavirus pandemic and are continuing to progress growth opportunities and options arising from our net zero strategy. We look forward to updating the market on our capital expenditure and investment plans at our interim results in November. In the meantime, our focus remains on strategic delivery across the group.”


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.