Windy weather boosts SSE, Npower deal on track, more smart meters

SSE boss Alistair Phillips-Davies: “The SSE group will evolve significantly between now and the end of the next financial year”.

SSE’s wind generation was 33% higher in the nine months to 31 December than the prior year.

Some of the increase was down to new capacity coming on stream, but the firm also noted windier conditions. Wetter weather also increased hydro output, including pumped storage, by around 19%.

In a trading update, the company indicated its proposal to combine its domestic retail operations with Innogy’s Npower remains on track, with initial engagement with the Competition and Markets Authority now underway.

Meanwhile, the company almost doubled its installed smart meter base in the period, from around 400,000 to 725,000. The company said it “remains committed to playing its part in the roll-out of smart meters”.

The company lost 5% of its customer base, or 400,000 accounts across GB and Ireland during the period.

Markets reacted positively to the news, with shares up slightly in morning trading.

See the statement here.

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