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Mr Putin’s decision to invade Ukraine has transformed the economics of renewable electricity producers in UK/EU with the SSE share price rising from £16.75 on Feb 24 to £19.25 on May 23. A report in the FT today of a widening of the windfall tax net by Mr Johnson’s government see the SSE share price plummet £1.75 in no time to £17.50.
deputy to sunak in telegraph yesterday was saying its going to happen.....and he or some ex treasury idiot said mrs thatcher would have windfall tax which is complete nonsense as she cut taxes and red tape beauaucracy
all the parties are communist in uk now and speak same language whatever the issue
There is a suggestion of a windfall tax.
I think its doubtful, in fact the whole idea of taxing good companies in excess of normal taxes seems ill advised.
Why is sse falling ?
There isn't a cat in hells chance this will affect renewable sector, good buying opportunity
I added another 100 @ £17.07. If it drops below £17 I may add more.
Its raised my average to £14.51 on 1300 shares, but I doubt there is much chance of me averaging down.
This has been a solid stock for me and I intended to increase my holding at some point, this just forced the issue.
bought a few back.
the 20s seem rather
more distant now, : (
rebase to 60p in 2023/24 and at least 5% increases in 2024/25 and 2025/26.
MrM - checked and that total div.
I guess so. And it keeps on dropping! Still, at some point I’m topping up - there’s got to be upside to this, surely?
you couldn't make this up. lets tax renewables and wind power. that will solve the energy crisis....
I haven't gone back to the Accounts, but my memory is that SSE makes a lot of its profits from building and selling windfarms. Some more from transmission and distribution, which is regulated, some more from selling off other bits of its business as well. So there will be some problems separating it all out
Was anybody else on the Board given the ridiculous example of the candle makers asking Government (some time ago) to put a tax on sunlight, because of their cost disadvantage. Looks like the Treasury hasn't heard.
The nuclear industry will now ask for an annual windfall tax on all green energy, for the same reason as the candle makers.
I remember seeing that, is that for sure though ? Also the 60p div , is that interim and final together ?
Cheers
I seem to remember, but does anybody else remember reading about a rebasing of the dividend to 60p next year. That's probably not helping much.
One of those dumb Tories got confused between 'Windfall tax on energy' and 'Tax on wind energy'.
Below 1800 ! Wow.. I may buy back in aafter selling out my last free holdings above 1800.
Not a chance the public would approve of such stupidity from government.
SSE is a superb company but now more reasonably priced today.
Are the Tories completely potty ? Extra Taxing those who are advancing low/non carbon power is not wise. To what real extent are those who claim power poverty actually conserving their usage. I dropped my thermostat to 13C in late Mar22 and now heat only water, etc...How do we really know that those claiming power / fuel poverty are deserving of this charity and the latter is what it is unless those concerned have indeed done all they can. Us shareholders will in effect be handing our divs as charity to those being subsidised by Tories.
As usual, news disproportionately affects the SP.
Glad to have topped up 50%.
Very good lol, we need a little humour on a morning like this. :)
Windfall tax on wind generators?
How come ? Because of the windfall tax ?
FT reports this morning that Energy Windfall Tax coming to UK electricity generators.
https://www.ft.com/content/ddbde592-a4e0-465a-9dd2-d6566790403f
Only another 1 or 2 top slices for me if it continues to rise, after which I would have sold a third of my holding that I had pre 2022.
agree top-slicing here v tempting. but now holding off a
further slice until 20s …which might be a while, sad lol : (
correction.
another top slice at just over 1865p
another top slice at just over 1665p