SSE plc is an energy company headquartered in Perth, Scotland. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. SSE operates in the United Kingdom and Ireland. As a generator of renewable electricity in the UK and Ireland, it develops, owns and operates low-carbon infrastructure to support the zero-carbon transition. This includes onshore and offshore wind, hydro power, electricity transmission and distribution grids, gas and energy from waste, alongside providing energy products and services for businesses. It is UK-listed. As a real Living Wage and Fair Tax Mark accredited company, it employs 12,000 people across the UK and Ireland.
History
Origins
The company has its origins in two public sector electricity supply authorities. The former North of Scotland Hydro-Electric Board was founded in 1943 to design, construct and manage hydroelectricity projects in the Highlands of Scotland, and took over further generation and distribution responsibilities on the nationalisation of the electricity industry within the United Kingdom in 1948. The former Southern Electricity Board was created in 1948 to distribute electricity in Southern England. Whilst the Southern Electricity Board was a distribution only authority, with no power generation capacity of its own, the North of Scotland Hydro-Electric board was a broader spectrum organisation, with its own generating capabilities. Because of its history and location, the Hydro-Electric Board was responsible for most of the hydroelectric generating capacity in the United Kingdom. Both authorities were privatised in 1990/91, initially retaining their pre privatisation geographic and functional bases. The North of Scotland Hydro-Electric Board became Scottish Hydro-Electric, whilst the Southern Electricity Board became Southern Electric.
Post privatisation
Scottish and Southern Energy was formed in September 1998, following a merger between Scottish Hydro-Electric and Southern Electric. In August 2000, Scottish and Southern Energy acquired the SWALEC energy supply business. SWALEC operate exclusively in Wales while SSE operates in Scotland and England. In July 2004, the company acquired the Ferrybridge and Fiddlers FerryPower Stations for £250million. In January 2008, it went on to buy Airtricity Holdings, an Irish wind farm business. In August 2009, it agreed to purchase Uskmouth power station from Welsh Power Group Limited. In April 2010, the company purchased the natural gasexploration and production assets of Hess Corporation in three areas of the United Kingdom Continental Shelf – Everest/Lomond, Easington and Bacton. In January 2010, Scottish and Southern Energy changed the core company branding from Scottish and Southern Energy to SSE.
Separation of retail supply division
In November 2017, it was announced that SSE was looking to separate from its retail subsidiary which would then merge with the npower division of rival Innogy. It was planned that SSE shareholders will own 65.6% of the demerged entity and Innogy would hold the remainder. The resulting company would have been listed on the London Stock Exchange and included npower's residential and business retail business, and SSE's residential energy supply and home services business, excluding its business in Ireland. Although the merger received preliminary regulatory clearance from the Competition and Markets Authority on 30 August 2018,, and full clearance was given on 10 October 2018, it was abandoned on 17 December 2018, with the companies blaming "very challenging market conditions". In September 2019 SSE announced that it would be selling its retail business to OVO Energy: the transaction was completed in January 2020. Ovo owns SSE Energy Services and is responsible for all its management decisions but still uses the SSE brand under licence.
Operations
SSE's core focus is economically regulated electricity networks and renewables. Complemented by businesses with a key role to play in enabling the net zero transition. Its subsidiaries are organised into the main businesses of renewables, electricity transmission, electricity distribution, thermal, enterprise, energy solutions and Airtricity.
Renewables
From onshore and offshore wind to hydro electric power, SSE Renewables develops, operates and owns the low carbon infrastructure which will support the net zero transition.
Transmission
SSEN Transmission plays a critical role in the transition to a low carbon future, developing, building, maintaining and operating a network for net zero. Vital to net zero ambitions it transports huge quantities of clean, green renewable power over a quarter of the UK land mass across some of its most challenging terrain.
Distribution
Economically-regulated Scottish and Southern Electricity Networks powers 4 million homes and businesses across the north of Scotland and central southern England. Employing more than 3,500 people in the development and maintenance of the modern flexible distribution network required for a low-carbon world, the business is vital to efforts to reach net zero.
Business Energy
It supplies sector leading customer solutions for homes and businesses, from small start-ups to large national corporates and public sector clients, across the UK.
Thermal
SSE Thermal comprises the business' flexible generation, energy-from-waste and energy storage activities, with over 600 employees across the UK and Ireland.
Enterprise
Its Enterprise business provides innovative solutions to build, own, operate and maintain energy and communications infrastructure in the UK and Ireland.
SSE became the largest officially accredited Living Wage Employer in the United Kingdom in 2013. All its employees across the United Kingdom are guaranteed to receive the then-Living Wage rate of at least £7.85 an hour in 2013.
Fair Tax Mark
In October 2014, SSE became the first company on the FTSE 100 to be awarded the Fair Tax Mark which is an independent accreditation process for identifying companies making an effort to be transparent about their tax affairs.
Ownership
SSE plc is headquartered in Perth, Scotland and is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. SSE operates in the United Kingdom and Ireland.
