Scottish & Southern Energy: Glendoe back on stream next year

Scottish & Southern Energy said yesterday that its flagship Glendoe hydro electric plant, closed after a rock fall blocked a tunnel in 2009, remains on track to restart operations in the first half of next year.

The 150 million power station above Loch Ness was the first major hydro project to be completed in the UK for 50 years.

In an operational update for the nine months to 31 December, SSE, which has more than ten million customers, said it expected full-year profits to be in line with analyst forecasts of 1.3 billion.

It added that it remains on course to deliver a full-year dividend of at least 74.5p per share.

The Perth-based utility noted that its household customers had used 7 per cent more gas over the last ten months. Investments made by the firm in recent months include a further 2.7m in Edinburgh wave energy developer Aquamarine Power, taking its stake to 45 per cent.