SSE to spend 'significantly' over next few years

Utilties giant SSE is setting out its investment plans for large capital projects in meetings with analysts and investors on Wednesday, saying that capital and investment expenditure over the next few years will continue to be 'significant'.

SSE expects just over £1.6bn in capital and investment expenditure in the year to the end of March 2013. It estimates that it will spend £1.5-1.7bn in the two years after that.

"SSE's investment in large capital projects is delivering a significantly expanding asset base which is supporting secure and lower carbon energy supplies in Great Britain and Ireland," said Finance Director Gregor Alexander.

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"It is also earning the returns that are necessary to sustain future investment and to meet SSE's target of annual above-inflation increases in the dividend payable to shareholders, including an increase of at least 2% real in respect of 2012/13."

BC