SSE cuts gas prices 4.1% from end-April

Energy supplier SSE has announced a 4.1% cut to its gas prices from 30 April and said its full-year results would be in line with expectations but warned of continuing challenging business conditions in its new financial year.

The FTSE 100 group confirmed it still expected to report an increase in its current full-year dividend at least equal to retail price inflation and was targeting an increase in the full-year dividend for the new year of at least RPI inflation, with annual increases thereafter of at least RPI inflation also being targeted.

Chief executive Alistair Phillips-Davies said: "The challenging business environment we identified at the start of this financial year is likely to continue into the new financial year and we believe that addressing the resulting issues directly is the right thing to do for customers and the best way of safeguarding the interests of investors.

"That is why, at the same time as reducing tariffs for customers, we're continuing to make sure our own house is in order for the future, with a clear focus on our value programme to make sure SSE is well-positioned for the long term."

SSE said it expected its capital and investment expenditure will total around £1.55bn in the current financial year and total around £5.5bn net of disposals over the four years to March 2018.

It said household gas prices in Great Britain will be cut by 4.1% on 30 April and will be capped at their new level, and household electricity prices at their existing level, until at least July 2016.