Origins The company has its origins in two
public sector electricity supply authorities. The former
North of Scotland Hydro-Electric Board was founded in 1943 to design, construct and manage
hydroelectricity projects in the
Highlands of
Scotland, and took over further generation and distribution responsibilities on the nationalisation of the electricity industry within the United Kingdom in 1948. The former
Southern Electricity Board was created in 1948 to distribute electricity in
Southern England. Because of its history and location, the Hydro-Electric Board was responsible for most of the hydroelectric generating capacity in the United Kingdom. Both authorities were privatised in 1990/91, initially retaining their pre privatisation geographic and functional bases. The North of Scotland Hydro-Electric Board became
Scottish Hydro-Electric, whilst the Southern Electricity Board became
Southern Electric.
Post privatisation Scottish and Southern Energy was formed in September 1998, following a merger between Scottish Hydro-Electric and
Southern Electric. In August 2000, Scottish and Southern Energy acquired the
SWALEC energy supply business. In July 2004, the company acquired the
Ferrybridge and
Fiddlers Ferry power stations for £250 million. In January 2008, it went on to buy
Airtricity Holdings, an
Irish wind farm business. In August 2009, it agreed to purchase Uskmouth power station from Welsh Power Group. In April 2010, the company purchased the
natural gas exploration and
production assets of
Hess Corporation in three areas of the
United Kingdom Continental Shelf – Everest/Lomond, Easington and Bacton. In January 2010, Scottish and Southern Energy shortened its name to SSE.
Separation of retail supply division In November 2017, it was announced that SSE was looking to separate from its retail subsidiary which would then merge with the
Npower division of rival
Innogy. It was planned that SSE shareholders will own 65.6% of the
demerged entity and Innogy would hold the remainder. The resulting company would have been listed on the London Stock Exchange and included npower's residential and business retail business, and SSE's residential energy supply and home services business, excluding its business in Ireland. Although the merger received preliminary regulatory clearance from the
Competition and Markets Authority on 30 August 2018, and full clearance was given on 10 October 2018, it was abandoned on 17 December 2018, with the companies blaming "very challenging market conditions". In September 2019, SSE announced that it would be selling its retail business, SSE Energy Services, to
OVO Energy: the transaction was completed in January 2020. Its customers were migrated to the OVO Energy brand by 2023.
Swiss holding company In November 2019, SSE moved its UK business into a new Swiss holding company, confirming that it had done so following the Labour Party's pledge to take it into state ownership. It said the move was: The Labour Party said:
Other divestments In August 2021, SSE agreed to sell its 33.3% stake in gas distribution company
SGN for £1.2 billion. == Operations ==