Warm temperatures and low wind have taken an £80million hit on SSE’s operating profits for the start of the year.
The Scottish energy provider said poorer than average wind conditions have resulted in a 15% dip in onshore and offshore wind output for Q1.
Meanwhile, the soaring temperatures across the UK in the three months to June led to domestic gas demand being 10% lower than planned.
The Perth-headquartered firm said this has caused an £80million negative impact on profits, which will potentially impact its full-year results.
In a trading statement released ahead of its Annual General Meeting today, SSE also stated that first power generation from the Beatrice Offshore wind farm, which SSE has a 40% stake in, is due this month.
All 84 turbine jackets for the Moray Firth development have been installed, as well as the first two turbines.
The 588MW project remains on course for completion next year.
SSE CEO Alistair Phillips-Davies said: “This new financial year has so far been characterised by lower than expected output of renewable energy and persistently high gas prices, but looking ahead, we are very focused on fulfilling our obligations to energy customers and delivering on our key priorities.
“Those priorities include successful delivery of our plans to invest around £1.7bn in this financial year, and we are pleased with the progress of key projects, including the installation of the first two turbines at the Beatrice offshore wind farm.
“Investment of this kind supports our strategic goal of creating value in a sustainable way, including remunerating shareholders for their investment, and we are strongly committed to delivering the five-year dividend plan we set out in May.”
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