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Pin to quick picksSSE Share News (SSE)

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Share Price: 1,709.50
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Household energy bills expected to rise in 2019 despite price cap

Mon, 20th Aug 2018 09:50

(Sharecast News) - Power bills in the UK are likely to rise by £60 next year despite the introduction of a price cap by the government, according to a new analysis.Recently the government committed to implementing a new energy price cap by the end of this year which would include a limit on the gap between energy firms' most expensive and cheapest tariffs.The regulator Ofgem is set to give details on the plans in September, although, the analysis by Cornwall Insight revealed that energy bills could still rise 5% (£60 a year) by April 2019.Robert Buckley, research director at the energy market consultant, said: "On the safeguard tariff forecasts, we believe there's another £60 rise coming in April - mainly due to policy and wholesale cost increases. These rises will be felt by all suppliers regardless of whether tariffs are capped or not."The bills are expected to level out after the summer of 2019 and remain the same until summer 2020, the research suggested.With several of the big energy providers having already raised prices two times this year, SSE is felt to be most likely to announce a second rise in the near future, one industry insider told The Guardian, as it had the cheapest standard variable tariff of the pack and a sizeable number of customers on the default tariffs.HELP FROM EUROPEAnother issue that could affect UK energy bill prices is Brexit and the increasing dependency of the UK's energy system on the European Union.Currently there are four power interconnectors between the UK and Europe that provide consumers with energy but there are 11 more under construction or mooted by developers. Power company National Grid feels links between the EU and the UK are good for consumers because lower wholesale prices on the continent could lead to cheaper energy bills in the UK.Nevertheless, Brexit poses a risk to this scheme since trading with the EU could become harder after the divorce from the block.
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23 Nov 2022 13:23

RBC Capital Markets upgrades SSE to 'outperform'

(Sharecast News) - Analysts at RBC Capital Markets upgraded energy company SSE from 'sector perform' to 'outperform' on Wednesday after gaining clarity on UK windfall taxes.

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22 Nov 2022 10:09

LONDON BROKER RATINGS: Credit Suisse cuts Vodafone; Citi likes BP

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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22 Nov 2022 07:54

LONDON BRIEFING: FTSE 100 called higher as oil prices firm overnight

(Alliance News) - Stocks in London were called slightly higher on Tuesday, as a rising Brent oil price supported the FTSE 100 index, despite unease over Covid-related developments in China.

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22 Nov 2022 07:15

RBC Capital upgrades SSE on windfall tax clarity

(Sharecast News) - RBC Capital Markets upgraded SSE on Tuesday to 'outperform' from 'sector perform' and lifted the price target to 2,050p from 1,825p as it pointed to clarity over windfall taxes.

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21 Nov 2022 10:09

LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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19 Nov 2022 22:00

Sector movers: Power generators boosted by Autumn Statement, Oil and Gas drag

(Sharecast News) - Interest rate sensitive construction and utilities shares paced gains at the end of the week following the Chancellor's well-received Autumn Statement the day before.

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18 Nov 2022 12:21

Barclays sees 'compelling value' in UK utilities after Budget clarity

(Sharecast News) - Barclays said on Friday that the "energy tax overhang" was gone, as it welcomed the clarity brought by Chancellor Jeremy Hunt's announcement on windfall taxes in this week's Autumn Statement.

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18 Nov 2022 09:49

LONDON BROKER RATINGS: Goldman Sachs raises Tritax Big Box to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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17 Nov 2022 18:27

UK hits power firms with windfall tax, hikes oil company levy

Windfall tax on oil and gas companies rises to 35%

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17 Nov 2022 17:16

UK shares slip after Hunt's new budget raises taxes, squeezes spending

Jeremy Hunt hikes taxes, squeezes spending

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17 Nov 2022 17:01

LONDON MARKET CLOSE: FTSE 100 ends lower despite post-budget rebound

(Alliance News) - London's FTSE 100 made a stellar recovery in the final hours of trading after suffering early afternoon malaise in the wake of the Chancellor's autumn statement.

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17 Nov 2022 15:08

UK power companies up after budget keeps energy cap to 2024

LONDON, Nov 17 (Reuters) - London-listed power generators shares rose on Thursday after British finance minister Jeremy Hunt said the average household energy bill would rise and kept a price cap until 2024.

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17 Nov 2022 13:49

Britain targets energy efficiency with consumption cut goal

LONDON, Nov 17 (Reuters) - Finance minister Jeremy Hunt said he wanted Britain to cut its energy usage by 15% by 2030 to help reduce bills, catching up with European neighbours which are already prioritising measures to counter spiralling prices.

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17 Nov 2022 13:01

UK's Hunt says average household energy bill to rise, keeps cap

LONDON, Nov 17 (Reuters) - British finance minister Jeremy Hunt said the cost of an average household energy bill would rise to 3,000 pounds ($3,555) a year from April after he reined in the scale of support for gas and electricity, but kept a price cap until 2024.

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17 Nov 2022 12:52

Sterling, UK bond prices edge lower as Hunt outlines tough budget

LONDON, Nov 17 (Reuters) - Sterling and government bond prices fell on Thursday after British finance minister Jeremy Hunt announced a string of tax increases and tighter public spending in a tough budget plan.

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