0927 GMT - Although SSE flags lower spark spread--the difference between the wholesale market price of electricity and the production cost using natural gas--and market volatility year-on-year, this isn't expected to materially affect fiscal 2024, Citi analysts Jenny Ping and Rory Graham-Watson say in a note. The energy group hasn't raised its over 150 pence EPS guidance closer to consensus of 159 pence like in other years, and this could indicate consensus may need to be pared somewhat, Citi says. Furthermore, operationally its past nine-month renewables performance is 15% below plan, and analysts question if its renewables P50 assumptions--that recovered quantities will equal or exceed the best estimates--are too high. Shares are down 2.1% at 1,619 pence, and 6.8% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)


Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com


(END) Dow Jones Newswires

02-08-24 1217ET