SSE abandons plan to sell stake in distribution network

SSE chief executive Alistair Phillips-Davies has told Utility Week the plan to sell a 25% stake in SSEN Distribution is off the table, at least for the next few years. Speaking on the back of the company's full-year results, Phillips-Davies also defended the disparity between a near doubling of profits to £2.2 billion and a windfall tax payment of £43 million.

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