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That says it’s not the number of panels as such that is the issue: “For DNO permission, the system approval is based on the rating of the inverter. Prior permission is not needed for systems with an inverter up to or under 3.68kW for a single phase supply or 11.04kW for a three phase supply, as you will be generating at or below 16A per phase.”. Anyway, interesting but rather off topic!
NN
Its a typical limit, otherwise you need DNO approval, you may also have problems with the additional load on the roof.
Check out the following https://blog.spiritenergy.co.uk/homeowner/how-many-solar-panels-allowed
Yes we were just quoted - for installing 8 panels (small useable roof area) - but @ 400W.
Don't think that is correct Bobf. Plenty of houses in my 'hood have more than 16 panels. 200 watts each is also very low. More like double that. Maybe it was a rule that no longer exists. Was hoping for some news on domestic installations in the autumn statement, but was disappointed.
SSE Renewables profits in the six months to September fell from £25.4m to £22.5m a reduction of 11.4%, with “wind volume lower than expected…” pulled out again. Renewables made up 3% of the Group’s Operating Profit of £716m. It would be interesting for shareholders to have visibility of SSE’s Renewables Return On Invested Capital (ROIC). It would be great for the CEO to be honest with investors on the investment returns on each part of the business.
lol, adjusted results are the real results, the reported results of 1/2 Billion are just accounting reconciliation of derivative contracts. Results were indeed excellent, although Seagreen delay is costing us
Really! Half a Bn loss due to increased costs doesn't strike me as excellent? Tax and rebase of dividend making this less attractive.
Excellent half year results but all depends on Hunt.
SSE WHY ARE YOU NOT PAYING THE FIT PAYMENT PROMPTLY AS OTHER COMPANIES DO ???
As much as I feel sympathy for the effect of energy bill rises on my poor Brits, I simply can't accept the premise of a windfall tax on "excess profits". Profit is by definition an excess! Surely they would be better served by saying unless you guarantee a large investment in the UK then we will tax you more. Windfall taxes have the opposite effect of disincentivising investment and driving it overseas. IMO SSE should now focus more on its EU, US and Japan expansions until UK PLC becomes a sane place to do business.
Jeremy Hunt is preparing a raid on electricity generators with a new tax on their “excess returns” as he tries to find money to pay for an inflation-linked rise in benefits and pensions while extending help for households with energy bills.
The chancellor will also use Thursday’s Autumn Statement to lift the existing windfall tax on oil and gas companies, known as the “energy profits levy”, from 25 per cent to 35 per cent — while extending it for another two years until 2028.
The government had been considering a “revenue cap” on electricity generators in line with a similar move by the European Union.
However, Hunt is now preparing a tax of 40 per cent on the “excess returns” produced by the sector above a certain price per megawatt hour, according to people close to the discussions. That threshold has not yet been decided.
The combination of the two windfall taxes is expected to generate more than £45bn over six years, although the final figure will depend on energy prices.
That is much more than previous Treasury forecasts of £28bn over four years for the energy profits levy. The Treasury declined to comment.
NervousNelly
Just a quick observation you are only allowed 16 panels X 200watts = 3.2KW on you roof. I agree the FIT doesn't make the high costs viable. The next KWH / rate is going up from 42p to 60p. For an average domestic user solar panels coupled with a storage battery will become a possible option.
Still
Pretty far off previous highs, time will tell if we see them in the next 12 months or so . GLA
Not sure that they don't pay their debts Denby, but FIT's are s national disgrace. Every other tariff is just as bad. If they'd sort this out and pay minimum 50% what they charge per kwh then I'd be on board. My roof will take 39 south facing panels, but I'll be fcked if I'm forking out £20K for the power companies to be the main beneficiary with no contribution from them. Great business model for them though - get someone else to lay out all the capital & take all the risk while you reap the rewards.
I'm no tree hugging green, but stop burning gas to generate electric & use what we have. FFS.
Not ready for the battery option yet either.
With all the money that SSE make.
WHY does it not pay the FIT payments that is should PAY to homes with PV Panels ?????
WHY WHY WHY SSE. ??????
Rebased Div still 4% at £15, which is below long term average for SSE but I think you can make the argument that SSE is materially a different company since the selling of the retail side of the business. The government reform of the energy market is actually a good thing for everyone involved, the ROC would have cost the Government a crazy amount of money this winter. CfD makes more sense for investment decisions, what doesn't help is the whole messaging of the reform. They need to guarantee high CfD prices for the next decade and stop dithering about. SSE debt has YtM of 7 years at 4% so not overly worried about this as the interest is fixed and they have set out proposals to sell 25% of transmission and distribution businesses. IMO only legitimate reason to worry is Government incompetence and that the wind stops blowing :D
Hi big_CHENGUS,
You say:-
"Historically anything sub 1500p is a bargain for long term holders. Dividend isn't bad at 5-6%.".
I admire your enthusiasm, but would like to inject some realism.
I hope you're aware that SSE announced nearly a year ago that as part of its strategy it will be "re-basing" (ie lowering!) its dividend to 60p in year 23/24. See their RNS announcement of 17 Nov 2021, "Net Zero Acceleration Programme". To then still get a 6% yield the share price would have to fall to about £10. That factor has been discussed widely on this board over the last few months. Furthermore, we have the cloud on the horizon as to what will be the Government's final proposal regarding "reform of the energy market", with talk of energy price capping even for renewable generators, such as decoupling prices for renewable-generated electricity from gas prices. Then you have the increasing cost of servicing debts with the rises in interest rates. And you have uncertainty as to what will be the political priority regarding "green energy" vis-a-vis further investment in fossil fuels, with a government where one doesn't know who will be in place from one day to the next, as we have seen today!
All that said, I have had a holding in SSE for nearly 20 years, and it has been one of my best long-term share investments.
All the best, Mike.
I bought in at 1460p then it dropped again but caught support at 1405p and today is hitting 1480p.
Historically anything sub 1500p is a bargain for long term holders. Dividend isn't bad at 5-6%.
Goldman Sachs announced target of 2048p as a buy and even it it only hits 80% of that it will be around 1640p.
In my opinion definitely a long term strategy to get most value out of this one with its dividends, but that's okay because I'm 23 and can afford time.
Mr M, yes I think so! This was my reasoning on 18th August (not re-posting it for any other reason that this is why I think the share price is under greater pressure than most). As I don't have the cash right now to buy back in, I am not enjoying the rapid fall.
"I've sold my minor holding here at 1831p today. I've pocketed a nice profit of about 75% over 2.5 years (incl dividends) having bought in at 1208p. I've long had the feeling that I am better at judging when to buy utilities than sell them, but there are a few current/future issues for SSE that make me think I might be better to pocket my profit and step away:
(i) With the energy price crisis there will be persistent calls for windfall taxes.
(ii) Following on from the above, the threat of nationalisation will linger. It will never happen, but even a whiff can dent the share price.
(iii) Ofgem is going to come under enormous pressure to make future pricing favourable to customers.
(iv) Rising interest rates will make financing the massive investments required more expensive (I haven't done any research or calculations about this, just a general feeling).
(v) There is a clear and coordinated attack from the right-wing of politics against green energy. If the Tories remain in power I see them conceding at least some ground in that department which will hit SSE's windfarms I presume.
(vi) On the financials, it is now trading at a P/E of 15 which is high-ish for a utility.
(vii) The dividend is due to rebase to around 60p in 2024 and then progressively rise (perhaps 5% p.a.). That would put SSE on a 3.3% yield which is way too low for a utility in my view (even if it is then covered x2 and will increase progressively). I think there will be a few shareholders waking up to that over the next year. I would want at least 5% yield from a utility so at 60p that would put the share price at around £12!"
Guitarsolo
lul, when the Government decides to stop fcking around and announces the windfall tax the sp will bounce
Are we really going to test 12’s / 13’s?
Can anyone shed any light on the reasoning?
Thanks
Lower Buy Back prices at least. It's shocking that Govt does a U-turn on WT after they said they wouldn't back in May/June. Realise a different team but same Party. Hope SSE and others materially cut their RE Capex to reflect the WT, that'll teach the Tories..!!
Thanks for article hostman. Well 'The government is committed to the UK reaching net zero carbon emissions by 2050.' is a load of rubbish because SSE specifically invests very large amounts in Renewable Energy Projects and any large tax will reduce that spending dramatically. It may also persuade the foreign owners of Scottish Power, EDF, etc...to move elsewhere though Europe is already Windfall taxing.