'˜No risk' to utility giant SSE before Brexit vote

Scottish utility group SSE has said the coming EU referendum 'presents no immediate risk' to how the company serves its customers or decides on its investment plans.

SSE also flagged a fall in earnings at its core retail division. Picture: Andrew Milligan/PA Wire

But the owner of Scottish Hydro gave warning that the level of risk might rise if “following the referendum there is a prolonged period of uncertainty about the legislative or regulatory framework that SSE operates within”.

It added: “Regardless of the outcome SSE agrees with the UK government that collaboration with other European countries on energy matters is important for UK consumers.”

In a statement ahead of its annual results due on 18 May, the “big six” energy supplier confirmed that falling numbers of energy customers would contribute to a fall in full-year earnings at its core retail division.

Perth-based SSE said that in the financial year to the end of March adjusted earnings per share would be between 117p and 119p.