SSE holds earnings guidance; Green lights windfarm extension
Updated : 09:19
Energy supplier SSE reiterated its full year earnings guidance, but said it was behind its renewable energy target for the first nine months of the financial year.
SSE said on Friday it still expected 2020 adjusted earnings per share (EPS) to be in the range of 83 - 88 pence.
“Adjusted EPS expectations are always subject to hydro and wind assets benefiting from normal weather conditions. As at 31 December 2019, output of renewable energy for the first nine months of the financial year was just over 5% behind plan,” the company said in a trading statement.
"The first nine months of the financial year have been generally positive for SSE, and we are on course to deliver our FY 2019/20 financial forecasts," said finance director Gregor Alexander.
The company said it had taken a final investment decision to proceed with an extra 11 turbines producing up to 38 megawatts at its Gordonbush wind farm in Scotland.
SSE added it was on course to stop production at its last coal-fired generation plant at Fiddlers Ferry in Cheshire by the end of March.
The company is also no longer involved in supplying energy and energy services to households in Britain after it completed the sale of its retail business to OVO Energy on January 15.