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Final result's on Wednesday 24th.
Please!!!!! No buybacks 🙏
Cash in the hand is worth more than (none organic growth) increased EPS .
Most of my PF has buybacks...sigh
gla
This is very very old news driftking.
Read an article by Barclays and also another by Citi, saying dividend could and may well. be rebased to 60p for 2023 to help finance future renewable projects.
That means after the EPS increasing, we’re losing out again.
Though, i suppose any company that pays out income at anywhere near 6% it’s always going to be under scrutiny:-(
So 60p would imply a dividend yield near 3.5%
Why no discussion since April?
HopeGreedNothing, SSE and others should not manipulate prices like in that Bloomberg investigation, it's ethically wrong even if ok UK legally
Good news today and maybe more to come this afternoon.
The UK government condemned tactics by power traders that the energy regulator says pushes up prices for consumers.
An investigation by Bloomberg News on Thursday exposed tactics by power traders who say they’re stopping plants from generating before keeping them running at a higher price. The maneuver, which has racked up £525 million ($647 million) in recent years and is paid for by consumers, is often used on days when there’s limited supply available to the grid operator.
“The regulator Ofgem is aware of this concerning behavior from a handful of participants involved and is urgently looking into it further,” Jamie Davies, a spokesman for Prime Minister Rishi Sunak, told reporters on Thursday. “It’s critical that at all times consumers pay a fair price for their energy. So this practice is clearly completely unacceptable.”
Read more: Traders ‘Manipulating’ Power Market Means Higher Bills in the UK
Companies involved in the practice include Vitol Group’s power unit, Uniper SE and SSE Plc. The practice currently doesn’t break any market rules, and there’s no suggestion the companies have broken the law. However, regulator Ofgem is trying to change the rules to stop traders charging excessive prices during times they said they wouldn’t previously be available.
Most firms featured in Bloomberg News report provided brief statements in response to questions, saying they comply with regulations.
Lawmakers on the parliamentary committee that oversees energy policy also criticized the practice that coincides with a historic energy crisis for the country, which has already driven consumer bills to record highs.
“That energy trading companies take advantage of this situation in pursuit of profit is morally wrong and should be unlawful,” Alexander Stafford, a Conservative member of the committee, said in an emailed statement.
“The profiteering of companies taking advantage of consumers during the cost of living crisis is a national scandal which for one reason or another still doesn’t get the attention it deserves,” said Ian Lavery, a Labour member of the same committee, by email. “This is an eye-opening story of just how widespread these practices are in the country today and just how easily they can get away with it.”
Consumer-advocacy groups have also called for more attention on those hit by soaring energy bills.
“Every time people suffering in cold damp homes use energy, they are the victims of a complex and deeply flawed market which puts profits ahead of giving people access to the energy they need,” said Simon Francis, coordinator of the End Fuel Poverty Coalition.
… SSE has held up pretty well in the chaos of the last
few days. ? possibly someone stakebuilding currently?
- sold a few SSE today, to top up some others which have
taken more of a hit but might be decent in due course.
(& will of course regret that if takeover bid announced tomoz…)
Growth potential and indeed continuing growth to become a even greater major clean energy supplier is good reason for investing here....dividend is a bonus !!
60p div will mean yield of 3.4% at current sp, current ftse 100 yield is 3.5%...
This is not new information. The yield will still be very healthy and above the FTSE 100 average.
Rebasing the dividend to 60p was always the plan. Its nothing new.
Have you not read the previous RNS's? Its been known forever.
It will give SSE a huge investment war chest.
Reading between the lines I suspect the increased investment may be a strategy to deal with any potential windfall tax. IMHO this is good as taxes taken are just cash gone from the company, cash invested in new and existing developments is more profit down the road.
They also give sound reasons why, and go on to say they then intend to raise the dividend year on year by 5% thereafter.
What's your point?
SSE just announced bumper profits and eps but then go on to say they are going to cut the dividend back to 60p in 2024.
Natural gas prices drop to pre- Ukraine war levels (Yahoo Finance) today
Have tried theses numbers/ Thank you.
Called Energy Services 0345 071 9710 Got through almost immediately
Hope the problem is resolved
Contact numbers I’ve been using for the ‘SSE’ bit now part of OVO when trying to resolve smart meter problems are shown below. OVO are now slowly changing all Original SSE customers over to their online system. Be prepared for a long wait on phone line, thanks goodness for handsfree speaker phones. Numbers are: 0345 07707373, or a slightly faster one 0345 0713991.
Hi Mike,
Thanks for information.
Already tried, but no luck.
LaHerb
Hello again LaHerb,
I don't know if this link will help you to get what you need from SSE:-
https://sse.co.uk/help/contact-us
Sorry if it's something you've already tried.
Good luck, Mike.
Thanks Mike for all you information
I am also a shareholder from the beginning of SSE. So from a financial position I have no complaints.
I am also with OVO, however the other query I had is with a rented flat. They are supplied by SSE and are only 10 miles away from me. This I find strange.
What i need is a phone number or EMail chat for SSE that I can contact them directly.
Any help will be appreciated
Many thanks
Hello LaHerb,
You ask: "So did OVO take over SSE or just part of it".
Broadly SSE sold-off their "retail" bit to OVO a couple of years ago now.
I was a customer of SSE before the retail part was sold off, so I'm going through all the changes, which are evidently affecting different customers at differing times. For a couple of years OVO could keep using an "SSE" name and logo, etc, for customers who were affected by the sell-off, but now, as we speak, my account has been "properly" rebranded as OVO. Friends of mine who were also original SSE customers are having similar things happening, although their individual timings are all slightly different.
As an individual I, and probably you, don't have direct dealings with the SSE plc which is the subject of this chat board. I do have shares in SSE, hence my interest.
Very broadly SSE plc now is primarily a generator and a developer of renewable energy (primarily wind farms), they have some gas generating plants, and they operated distribution networks for Electricity and Gas although those have been progressively sold off. The gas was through "SGN" (Scotia/Southern Gas Networks) who manage the gas pipes to houses in my part of the country, but I think SSE plc has completely sold out of that now. Similarly, Electricity was through SSEN, but I think SSE has partly sold out of that now.
The OVO and "SSE" that we as private individuals buy our electricity and gas through are nothing to do with SSE plc which is what this chat board is about.
I hope that helps and makes things clearer.
All the best, Mike.
Denby 69 Have a similar problem over a faulty off peak timer
Don't answere the phone or E Mails
Don't phone back Their automated response is useless
Did manage to get through to OVO, but they said they do not supply the property.
So did OVO take over SSE or just part of it
On the SSE bill, they proudly say they are part of the OVO family.
WHAT PART
Absolutely not, OVO (or Oh No as i prefer) even kindly send your all the evidence you will ever need with their useless auto web responses.
Only trouble is, unless they learn their lesson, it needs doing every reading period, which is a pain.