SSE Submits GBP2.4 Billion Business Plan to Ofgem

Date : 12/09/2019 @ 11:00AM
Source : Dow Jones News
Stock : Sse (PC) (SSEZY)
Quote : 19.49  -0.05 (-0.26%) @ 4:30PM

SSE Submits GBP2.4 Billion Business Plan to Ofgem

Sse (LSE:SSE)
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By Anthony O. Goriainoff

 

SSE PLC (SSE.LN) said Monday that it has submitted a business plan to U.K. energy regulator Ofgem that includes total expenditure of 2.4 billion pounds ($3.15 billion) over the RIIO-T2 transmission price-control period to March 2026.

The FTSE 100 energy company said that the investment is essential to maintain and grow the north of Scotland transmission network to meet the certain needs of current and future electricity generators and customers. The company added that it anticipates that a further investment will be required to deliver the transition to net zero targets, as outlined by the U.K. and Scottish governments. SSE said this suggests a potential additional total expenditure of about GBP1 billion.

Shares at 1015 GMT were down 8 pence, or 0.6%, at 1314 pence.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

December 09, 2019 05:45 ET (10:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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