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SSE to close last-remaining UK coal plant

Thu, 13th Jun 2019 13:43

(Sharecast News) - SSE has announced the closure of its last remaining and loss-making UK coal-fired plant, Fiddler's Ferry in Warrington, Cheshire.The company will begin a consultation with the plant's 158 staff and trade unions, with a view to closing the station by the end of next March."In recent years, a number of factors have weighed heavily on the viability of this asset. As national and international policies focus on promoting lower-carbon forms of electricity generation in a bid to tackle climate change, the economics of coal-fired stations have become increasingly challenged," SSE explained."The UK has committed to ending unabated coal-fired electricity generation by 2025, and yesterday the government confirmed it would legislate to achieve a net zero carbon emissions target by 2050."SSE said the volume of electricity generated at the plant is declining year-on-year and the station has had limited success in Capacity Market auctions. As a result, its performance has deteriorated to "unsustainable levels", with losses of around £40million in FY18/19 and projections for further losses thereafter.The company said it hopes that where possible, staff will be redeployed elsewhere in the group. Employees will also be offered voluntary redundancy on enhanced terms as SSE looks to avoid compulsory redundancies. Stephen Wheeler, managing director of thermal energy at SSE, said: "As we move towards the proposed closure, our priorities are to keep the site operating safely and effectively; and to ensure that employees have a range of options available to them for the future."
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20 Jan 2023 07:51

LONDON BRIEFING: UK retail sales fall in December; US Fed to stay firm

(Alliance News) - Stock prices in London were set to open higher on Friday, despite a warning about higher-for-longer US interest rates and an unexpected fall in UK retail sales in December.

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20 Jan 2023 07:05

SSE lifts earnings forecast

(Sharecast News) - Power generator SSE upgraded annual earnings expectations as higher gas prices and better storage offset lower-than-expected renewables output.

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18 Jan 2023 10:39

Morgan Advanced Materials names former SSE CEO as chair designate

(Alliance News) - Morgan Advanced Materials PLC on Wednesday named former John Wood Group PLC chair and SSE PLC chief executive officer Ian Marchant as its new chair.

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18 Jan 2023 09:47

LONDON BROKER RATINGS: Bank of America and Oddo BHF cut Whitbread

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

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17 Jan 2023 09:36

LONDON BROKER RATINGS: Bernstein cuts Unilever to 'underperform'

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

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16 Jan 2023 09:34

LONDON BROKER RATINGS: SocGen raises Severn Trent to 'buy'

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

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13 Jan 2023 09:40

LONDON BROKER RATINGS: Berenberg likes Pendragon; HSBC cuts Keywords

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

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9 Jan 2023 09:49

LONDON BROKER RATINGS: Peel Hunt raises real estate; UBS cuts Ashmore

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

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5 Jan 2023 15:41

UK dividends calendar - next 7 days

Friday 06 January 
British Land Co PLCdividend payment date
Hill & Smith PLCdividend payment date
JD Sports Fashion PLCdividend payment date
JPMorgan European Growth & Income PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
Pets at Home Group PLCdividend payment date
RS Group PLCdividend payment date
Town Centre Securities PLCdividend payment date
Monday 09 January 
abrdn Equity Income Trust PLCdividend payment date
Caffyns PLCdividend payment date
Chelverton UK Dividend Trust PLCdividend payment date
Intermediate Capital Group PLCdividend payment date
Investec PLCdividend payment date
Tuesday 10 January 
LondonMetric Property PLCdividend payment date
Norcros PLCdividend payment date
Wednesday 11 January 
3i Group PLCdividend payment date
Assura PLCdividend payment date
Bellway PLCdividend payment date
Fidelity Special Values PLCdividend payment date
National Grid PLCdividend payment date
Personal Assets Trust PLCdividend payment date
Severn Trent PLCdividend payment date
VP PLCdividend payment date
Worldwide Healthcare Trust PLCdividend payment date
Thursday 12 January 
Ashtead Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCspecial ex-dividend payment date
D4T4 Solutions PLCdividend payment date
Ecora Resources PLCex-dividend payment date
European Assets Trust PLCex-dividend payment date
Focusrite PLCex-dividend payment date
GSK PLCdividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
Majedie Investments PLCex-dividend payment date
Majedie Investments PLCex-dividend payment date
Origin Enterprises PLCex-dividend payment date
Premier Miton Group PLCex-dividend payment date
Primary Health Properties PLCex-dividend payment date
Regional REIT Ltddividend payment date
Sage Group PLCex-dividend payment date
Schroder UK Mid Cap Fund PLCex-dividend payment date
Smiths News PLCex-dividend payment date
SSE PLCex-dividend payment date
TR Property Investment Trust PLCdividend payment date
  
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4 Jan 2023 09:38

LONDON BROKER RATINGS: Bernstein cuts Aveva to 'market-perform'

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

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3 Jan 2023 09:24

LONDON BROKER RATINGS: Citigroup cuts Wizz Air; Redburn likes CRH

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

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3 Jan 2023 09:03

LONDON MARKET OPEN: Stocks jump in first session of 2023

(Alliance News) - Stock prices in London made a strong start to the new year on Tuesday, despite weak Chinese data and the UK suffering a fresh wave of rail strikes.

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21 Dec 2022 16:38

IN BRIEF: SSE Managing Director Wheeler sells GBP50,000 in shares

SSE PLC - Perth, Scotland-based electricity utility - SSE Renewables Managing Director Stephen Wheeler sells 3,000 shares at GBP17.09 each, worth GBP51,270, in London on Wednesday.

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15 Dec 2022 12:23

LONDON MARKET MIDDAY: Bank of England lifts rates by half a percent

(Alliance News) - Stock prices in London were lower at midday, after the Bank of England raised UK interest rates by half a percentage point, as expected.

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15 Dec 2022 10:05

National Grid and SSE welcome Ofgem's electricity investment approvals

(Alliance News) - National Grid PLC and SSE PLC on Thursday said it welcomed the decision from Ofgem that confirmed that increased electricity transmission investment is necessary.

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