SSE

Ticker SSE

Today's data summary

Market closed
% change
-0.78%
Price Pence
1517.00
Change
-12.00
As of 23:45 19 Jan 2021
Market cap. Pound sterling
15,808.50 million
As of 23:26 19 Jan 2021

Latest updates

  1. Energy watchdog sets out green energy plans, but firms not happy

    Andrew Black

    BBC Scotland Business Presenter

    The UK energy regulator has set out plans for a £25bn programme to boost green energy by transforming the country's energy networks - but energy companies aren't happy.

    Ofgem decides the rules on how much money gas and electricity companies can earn, but also gives them room to pay for new investment from customer bills.

    Under these plans, they'll be allowed to spend £25bn on improving gas and electricity networks - £3bn of which will be used to make the electricity network more environmentally friendly.

    But Ofgem says the return energy firms will be allowed to make from their investments will be nearly halved.

    Perth-based SSE - one of the country's big energy firms - says these plans won't help achieve next zero carbon targets and risks investment in new projects

  2. What's that in the sky?

    Flight radar route of aerial survey aircraft
    Image caption: The aircraft's route could be seen on the FlightRadar24 website

    If you have seen an aircraft tracking back and forth in the skies in recent weeks you might like to know it is mapping power lines and trees to help prevent power cuts.

    The Danish Vulcanair plane has been spotted above the Isle of Wight, Hampshire and West Sussex in recent weeks, prompting speculation about its purpose.

    A spokesman for NM Group, a specialist in scanning power lines, said it was using 3D scanning technology to identify vegetation near power lines in Scottish and Southern Electricity Networks’ central southern England network area.

    He said: "Identifying vegetation that is too close to the network, in this way, helps ensure that SSEN field teams can complete targeted tree trimming and maintenance work. This proactive tree management reduces the chance of service interruptions."

    View from aerial survey aircraft
    Image caption: View of Isle of Wight power lines from the aerial survey aircraft
  3. Good morning!

    Welcome to Business Live.

    Today is the day - the UK will officially leave the European Union at 23:00 this evening. Nothing will change immediately as the country will now enter a transition period to reach a trade deal by the end of the year.

    The coronavirus has been declared as a global health emergency but its effect on the global economy is still unknown - not withstanding ghoulish comments by US commerce secretary Wilbur Ross.

    TalkTalk reports its results today and energy company SSE and drinks-maker Britvic will provide trading updates.

    In the US, oil giants ExxonMobil and Chevron release figures as will construction equipment firm Caterpillar.

    Do get in touch. Email Business Live bizlivepage@bbc.co.uk

  4. SSE completes retail business sale to Ovo

    Person setting oven controls

    Energy firm SSE has completed the sale of its retail business to Ovo, which will now take on SSE's 3.5 million customers and 8,000 staff.

    As reported in September, the £500m deal will make Ovo the UK's second largest energy supplier.

    SSE Energy Services will continue to trade as such during a transition period, and is then expected to be rebranded by Ovo, possibly within the next two years.

  5. Ovo boss 'delighted' with CMA decision

    Ovo Energy chief Stephen Fitzpatrick has been trumpeting his firm's £500m takeover of SSE, as we reported earlier. He said:

    Quote Message: We’re delighted with the CMA’s decision and look forward to bringing SSE into the Ovo family. There is a lot of work to be done, but we’re excited about the challenge ahead and the opportunity to help even more customers on the journey to zero carbon.
  6. Ovo gets green light for £500m SSE takeover

    Cooker

    The Competition and Markets Authority has given the thumbs up to Ovo Energy breaking into the top six energy suppliers by buying the retail arm of SSE.

    It said it will not open a second-phase investigation into the £500m acquisition.

    "We are very pleased that the CMA has cleared the proposed sale of SSE Energy Services to Ovo Group," said SSE boss Alistair Phillips-Davies.

    The deal will still see SSE, formerly Scottish and Southern Energy, hold on to its electricity generation arm and its grid operations.

    It said it plans to treble its production of renewable energy by 2030, to around 12 gigawatts.

  7. Video content

    Video caption: 'Private investment is bringing down the cost of energy'

    Chief executive of Scottish Power, Keith Anderson, told the BBC that Labour's nationalisation plans would make reaching a zero carbon future harder.