SSE set to match or top 2013/14 earnings but sees tougher year ahead

17th Jul 2014 07:53

Electricity generator and retailer SSE forecast higher earnings in 2014/15 but warned that it would be harder to lift them again the year after.SSE said it expected adjusted earnings per share for 2014/15 to be around or slightly greater than the 123.4p achieved in 2013/14.But the group said: "However, energy sector conditions mean increases in its adjusted earnings per share are subject to greater risk in 2015/16 and 2016/17."It added: "It remains on course to achieve its first financial objective of a full-year dividend increase that at least keeps pace with RPI inflation."SSE has frozen household bills, but said its number of electricity and gas customer accounts in Great Britain and Ireland fell from 9.10m to 8.99m in the three months to June 30th against the same period a year ago.Average consumption of electricity by SSE's household customers in the UK was estimated to be 853 kilowatt hours (kWh), compared with 920kWh a year ago.Average consumption of gas by SSE's household customers was estimated to be 68 therms, compared with 96 therms.Production from its power stations, hydro-electric schemes, wind farms and biomass plants also fell, but production from gas assets was flat.PW