Scottish and Southern Energy PLC Feb 04
- ID: 1871093
- February 2004
- Region: Scotland
- Standard & Poors
Adherence to prudent financial policies; Cash flows underpinned by regulated businesses; and A strong financial profile. Exposure to volatility in power prices; Increased project management risk from expected investments; and Exposure to customer losses in retail supply. The ratings on Scottish and Southern Energy PLC (SSE) and its subsidiaries reflect the predictable cash flows from the utility's regulated monopoly transmission and distribution businesses, its low-cost generation portfolio, its strong cost-cutting record, its strong financial profile, and its conservative financial policy. These strengths are offset by the exposure of operating profits to movements in wholesale prices, the risk of price cuts in electricity distribution by the U.K. electricity regulator from April 2005, and the risk of customer loss in the competitive...
Companies mentioned in this report are:
- SSE PLC
- Southern Electric Power Distribution PLC
- SSE Generation Ltd.
- SSE Energy Supply Ltd.
- Scottish Hydro-Electric Transmission Ltd.
- Scottish Hydro-Electric Power Distribution Ltd.
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Research Type: Full Analysis