SSE, the FTSE 100 energy company, has sold a 25 per cent stake in its electricity transmission network in Scotland to Ontario Teachers’ Pension Plan Board for £1.5bn, as it seeks to raise cash to invest in renewable energy. SSE put the business up for sale last November but the process has taken more than … Read more
Energy company SSE has reported a fourfold increase in its profits but emphasised the scale of its investment in the UK’s renewable sector as the government prepares a windfall tax on electricity generators. SSE’s adjusted earnings after tax in the six months to September rose to £450mn from £111mn in the same period last year, … Read more
SSE has pledged to reinvest any “additional” profits resulting from sky-high wholesale power prices into building new UK energy assets, as it forecast an increase of more than 25 per cent in earnings this year. The FTSE 100 energy company’s gas storage facilities and thermal power plants — which back up the grid when intermittent … Read more
Electricity companies can dampen spiralling energy costs for British households by agreeing to sell some of their production at fixed prices “far lower” than current wholesale rates, the UK energy group SSE said. The FTSE 100 company has admitted electricity companies could play a part in smoothing out surging energy costs for families, although it … Read more