Inefficient Market Reaction to EU Ruling Against the U.K. Capacity Market; SSE Deeply Undervalued
On Nov. 15, the EU General Court ruled that the U.K.'s capacity market is not compatible with the EU state rules. The court granted the appeal launched by Tempus Energy arguing that the U.K. capacity market discriminates technology designed to cut peak electricity demand. Consequently, capacity payments are halted until further due diligence is carried out. Brexit is a key factor to consider since in case of a hard Brexit, the U.K. government would not have to abide by the EU rules anymore. In a...SSE is engaged in producing, generating, distributing and supplying electricity and gas, as well as other energy-related services, across the U.K. and Ireland. Co. has three principal business areas: Wholesale, which uses turbines to convert energy from gas, oil, coal, water and wind to generate electricity, trading in wholesale energy markets, and managing energy contracts; Networks, which transmits and distributes electricity and gas to homes and workplaces; and Retail, which supplies electricity and gas and related services to households and organizations.
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