By Tapan Panchal
LONDON--SSE PLC (SSE.LN) Monday said it will cut household gas
prices in Great Britain by 4.1%, after it confirmed that fiscal
2015 results are expected to be in line with its guidance.
The gas price cut comes into effect from April 30. The energy
company will also extend its household gas and electricity price
guarantee to at least July 2016.
SSE said that adjusted earnings per share for the year are
expected to be around the level achieved in fiscal 2014. It also
intends to increase full-year dividend, at least equal to RPI
inflation.
"The challenging business environment we identified at the start
of this financial year is likely to continue into the new financial
year and we believe that addressing the resulting issues directly
is the right thing to do for customers and the best way of
safeguarding the interests of investors," Chief Executive Alistair
Phillips-Davies said.
"That is why, at the same time as reducing tariffs for
customers, we're continuing to make sure our own house is in order
for the future, with a clear focus on our value programme [cost
savings program] to make sure SSE is well-positioned for the long
term," he added.
SSE will publish its results for the year ending March 31 on May
20.
Write to Tapan Panchal at tapan.panchal@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires