2023: Regulator Intervenes as SSE Airtricity Struggles to Support Distressed Gas Consumers

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In 2023, the regulator may be stepping in to assist SSE ($LSE:SSE) Airtricity in supporting distressed gas consumers. SSE Airtricity is the largest supplier of gas in Ireland and has been struggling to help its customers through the difficult economic climate. Many of their customers have been facing financial difficulties due to job losses and other issues resulting from the pandemic. SSE Airtricity has been attempting to support their customers by offering discounts, flexible payment plans, and energy efficiency initiatives.

However, these efforts have not been enough to ease the anxieties of their customers as many still struggle. The regulator is now looking into ways to help SSE Airtricity provide better support for its customers. This could potentially involve introducing new regulations to protect gas customers from unfair pricing and ensure that they have access to affordable energy. The regulator may also be looking into further initiatives such as energy-saving schemes and subsidies to help those in need. The actions of the regulator could have a significant impact on SSE Airtricity and its customers. If successful, the initiatives could help to relieve some of the stress that many gas customers have been facing. It remains to be seen what steps the regulator will take, but it is clear that SSE Airtricity needs assistance in providing better support for its customers in these trying times.

Market Price

Following mostly positive media coverage, SSE PLC saw its stock open at £17.4 on Monday and close at £17.2, down 0.5% from its last closing price of 17.3. SSE PLC, the parent company of SSE Airtricity, has been under increased scrutiny as of late due to their handling of the gas consumer crisis. With the regulator now intervening, it is uncertain how SSE PLC will proceed in providing assistance to those in need. Many are calling for a resolution as soon as possible as the situation continues to worsen for those affected. Live Quote…

About the Company

Income Snapshot

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Analysis

At GoodWhale, we have conducted a thorough analysis of SSE PLC‘s wellbeing. We’ve given them a medium risk rating, which indicates that they are a viable option for investment in terms of their financial and business aspects. However, there are some risks to consider. After delving into their income sheet, balance sheet, and cashflow statement, we have identified three key risk warnings. If you’re considering investing in SSE PLC, make sure you register with us to find out more about these potential risks. By doing so, you can make a more informed decision about whether or not it is the right investment for you. More…

Peers

In the United Kingdom, SSE PLC is one of the “big six” energy suppliers that compete against each other to provide electricity and gas to residential and commercial customers. The other five companies are REN-Redes Energeticas Nacionais Sgps SA, NorthWestern Corp, OGE Energy Corp, and EDP Distribuicao SA. SSE PLC is the second largest electricity generator in the UK. The company also has gas production, storage, and distribution assets.

– REN-Redes Energeticas Nacionais Sgps SA ($LTS:0KBT)

REN-Redes Energeticas Nacionais Sgps SA is a Portugal-based holding company engaged in the electricity sector. The Company, through its subsidiaries, is active in the generation, transmission, distribution and commercialization of electricity, as well as in the natural gas sector. The Company operates a power grid of approximately 24,000 kilometers in mainland Portugal, the Madeira and Azores archipelagos, totaling around 5.5 million customers. As of December 31, 2011, REN-Redes Energeticas Nacionais Sgps SA had interests in 12 companies, including EDP Distribuicao SA, EDP Gases do Amazonas Ltda, EDP Gases do Nordeste Ltda and EDP Geração SA.

– NorthWestern Corp ($NASDAQ:NWE)

NorthWestern Corp is a holding company that provides electric and natural gas service to residential, commercial, and industrial customers in Montana, South Dakota, and Nebraska in the United States. The company has a market cap of $3.21 billion and a return on equity of 6.65%. NorthWestern Corp is a regulated utility company and is one of the largest providers of electricity and natural gas in the Northwest.

– OGE Energy Corp ($NYSE:OGE)

Duke Energy Corporation is an American electric power holding company headquartered in Charlotte, North Carolina. The company is the largest utility in the United States, with a generating capacity of over 49,000 megawatts. Duke Energy provides electricity to approximately 7.4 million customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky. The company also has a commercial business that provides electricity and natural gas to approximately 2 million customers in the United States and Canada.

Duke Energy’s market cap is 7.86B as of 2022. The company has a Return on Equity of 18.73%. Duke Energy is the largest utility in the United States and provides electricity to approximately 7.4 million customers in six states. The company also has a commercial business that provides electricity and natural gas to approximately 2 million customers in the United States and Canada.

Summary

SSE PLC is a British energy company that has seen significant growth in the past few years. Investors are attracted to the company’s focus on renewable energy sources and its wide range of services. SSE PLC has recently grown its operations to include gas supply for residential customers, and faced regulatory intervention due to difficulties in meeting consumer demand. Despite this, investors are optimistic about the future of the company, with strong financials, an ambitious expansion plan, and a focus on green initiatives.