
Energy giant SSE sees UK dry spell hit water power generation
This was due to 'unfavourable weather conditions' affecting its hydro power stations, which work by harnessing the power of moving water to generate electricity.
SSE's hydro generation dropped by about 40% in the three months to June, compared with the same period a year ago.
Scotland has experienced a lack of rainfall, with regions in the east seeing the driest spring since 1964, according to the Scottish Environment Protection Agency.
SSE told investors that the dry conditions offset strong operational availability across its renewable power plants.
Meanwhile, the company welcomed 'clarity' from the Government's decision not to split the country into different energy pricing zones.
Energy Secretary Ed Miliband confirmed earlier this month that the UK would retain a single national wholesale price for electricity but reform the current system.
SSE said in a statement to investors that the decision brings 'welcome clarity for both investors and consumers whilst sending a strong investment signal that reaffirms the UK as a world-leading renewables market'.
The form said its financial outlook for the year continues to be subject to weather, market conditions and plant availability, with the key winter months still to come.

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The Sun
38 minutes ago
- The Sun
Nine money changes happening in August including benefit that could be stopped worth £1,354.60 if you don't act NOW
AS we head into August and the last month of summer, there are several important financial changes that will affect your money, from student loans and benefits to bank accounts and interest rates. Whether you're managing your household budget, planning ahead for childcare, or keeping an eye on mortgage costs, knowing what's coming can help you stay in control and avoid any surprises. 1 We've gathered all the key dates and explained what you need to know and do, so you can prepare your finances for the weeks ahead. Aug 1: Tuition fee rise takes effect in England From August 1, 2025, undergraduate tuition fees in England will rise from £9,250 to £9,535 a year. Students will also be able to borrow more to help with living costs, with the maximum maintenance loan for those living away from home outside London increasing from £10,227 to £10,544. All students will get an uplift in support for the 2025 to 2026 academic year, with the government predicting that the most help will go to those from households earning £25,000 or less. Student loan repayment rules changed in England in 2023, meaning graduates are likely to pay back more over a longer period than before. Graduates who started repayments in April 2025 had an average debt of £53,000, according to the Student Loans Company. Aug 6: eBay faster payments come in From August 6, eBay is speeding up payments to some sellers. Those who have completed at least 10 sales totalling £150 or more over the past five years, and have no more than two unresolved cases in the last 12 months, will receive their funds within 24 hours of sale. This replaces the previous system where sellers had to wait two days after delivery confirmation before payment. An unresolved case means any buyer dispute that wasn't resolved or where eBay ruled in favour of the buyer. This change should help sellers manage their cash flow more easily. Aug 7: Bank of England base rate decision On August 7, the Bank of England (BoE) is expected to announce its next base rate decision. At its last meeting, policymakers kept the rate steady at 4.25%, with six voting to hold and three in favour of a cut. The BoE is closely watching signs of a cooling labour market alongside inflation, which rose to 3.6% in the 12 months to June, according to the Office for National Statistics (ONS). The base rate affects borrowing costs and savings returns. Most mortgage holders are on fixed deals, so payments won't change immediately. However, UK Finance estimated in January that around 1.8 million fixed-rate deals will end this year, meaning lots of homeowners could soon face higher rates. What is the base rate and how does it affect the economy? NINE members of the Bank of England's Monetary Policy Committee meet eight times each year to set the base rate. Any change to the Bank's rate can have wide-reaching consequences as it directly influences both: The cost that lenders charge people to borrow money The amount of savings interest banks pay out to customers. When the Bank of England lowers interest rates, consumers tend to increase spending. This can directly affect the country's GDP and help steer the economy into growth and out of a recession. In this scenario, the cost of borrowing is usually cheap, and the biggest winners here are first-time buyers and homeowners with mortgages. But those with savings tend to lose out. However, when more credit is available to consumers, demand can increase, and prices tend to rise. And if the inflation rate rises substantially - the Bank of England might increase interest rates to bring prices back down. When the cost of borrowing rises - consumers and businesses have less money to spend, and in theory, as demand for goods and services falls, so should prices. The Bank of England is tasked with keeping inflation at 2%, and hiking interest rates is a way of trying to reach this target. In this scenario, the losers are those with debt. First-time buyers will lose out to cheaper mortgage rates, and those on tracker or standard variable rate mortgages are usually impacted by hikes to the base rate immediately. Those on a fixed-rate deal tend to be safe if they fixed when interest rates were lower - but their bills could drastically increase when it's time to remortgage. The cost of borrowing through loans, credit cards and overdrafts also increases when the base rate rises. However, the winners in this scenario are those with money to save. Banks tend to battle it out by offering market-leading saving rates when the base rate is high. Markets generally expect two rate cuts this year, potentially lowering the base rate to 3.75% by December. But rising food prices and global uncertainties mean the outlook remains uncertain. If your mortgage deal is ending soon, now's a good time to review your options. For savings, shop around to find the best rates. Credit card and loan rates are unlikely to change immediately but remain higher than in recent years. Aug 20: July inflation figures and rail fare rises The Office for National Statistics (ONS) will release the July inflation figures on August 20. Inflation, measured by the Consumer Prices Index (CPI), shows how much the cost of everyday goods and services is rising. In June, CPI inflation was 3.6%, up from 3.4% the previous month and still well above the Bank of England's 2% target. Inflation influences many parts of daily life, including rail fares. In England, annual increases to regulated rail fares such as season tickets and off-peak travel are usually linked to the July Retail Prices Index (RPI) measure of inflation. The cost of unregulated tickets, such as first class, advance and anytime fares, is set by train companies. Aug 21: Santander axing popular current account Santander is closing its 123 Lite current account on August 21. Hundreds of thousands of customers will lose the account's popular 3% cashback on household bills, which is capped at £15 a month and comes with a £2 monthly fee. Affected customers will be automatically switched to Santander's Everyday Current Account, which has no monthly fee but offers no cashback. If you want to keep earning cashback with Santander, consider switching to the Edge or Edge Up accounts. Edge offers 1% cashback on some household bills, supermarket shopping, petrol, and travel, with a £3 monthly fee capped at £10 cashback. Edge Up costs £5 a month and offers up to £15 cashback, but requires a higher monthly deposit. Note that from September 9, cashback on supermarket, fuel, and travel spending will be removed from both accounts, leaving cashback only on household bills. If you're looking for better cashback deals elsewhere, some credit cards offer higher rewards. For example, the American Express Cashback Everyday Credit Card gives up to 5% cashback on spending for the first five months. Aug 25: Bank holidays affecting benefit payment dates If your benefit payment usually falls on a bank holiday, it will be paid early. For example, payments due on Monday August 25 (the bank holiday) will arrive on Friday August 22 instead. You'll get your money sooner, but since the next payment won't move, you'll need to budget carefully as the gap between payments will be longer. It's also standard for payments due on weekends to be paid on the preceding working day. So, payments normally scheduled for Saturday 23 or Sunday 24 August will also arrive on Friday August 22. This early payment applies to a range of benefits, including: Attendance allowance Carer's allowance Child Benefit Disability Living Allowance Employment Support Allowance (ESA) Income Support Jobseeker's Allowance (JSA) Pension Credit Personal Independence Payment (PIP) State Pension Universal Credit If you receive the basic state pension, your payments come every four weeks on a weekday linked to the last two digits of your National Insurance number: 00 to 19: Monday 20 to 39: Tuesday 40 to 59: Wednesday 60 to 79: Thursday 80 to 99: Friday The next bank holidays affecting payments after August will be in December. Payments due on Christmas Day and Boxing Day will be paid early on 24 December, this year. Aug 31: Deadline to extend Child Benefit claims for 16- to 19-year-olds Parents of teenagers aged 16 to 19 must extend their Child Benefit claim by August 31 to keep payments coming in September. If a claim isn't extended, Child Benefit will automatically stop from August 31 after a child's 16th birthday. HM Revenue & Customs (HMRC) sends reminders to parents to confirm online if their teenager is staying in full-time education or approved training after GCSEs. Parents can extend claims easily via the HMRC app or with letters including a QR code for quick access. Child Benefit currently pays £26.05 per week for the eldest or only child, and £17.25 per week for each additional child. Last year, over 870,000 parents extended their claims online or through the app in minutes. Aug 31: Deadline to resubscribe for free childcare codes If you want to keep or start receiving up to 30 hours of free childcare a week for children aged 9 months to 4 years, you must apply or renew your childcare code by August 31. This applies to working parents in England who use registered childcare providers such as nurseries, playschemes, or wrap-around care. You'll need to set up a childcare account online and apply via or the HMRC app. Once approved, you'll get an 11-digit code to give your childcare provider as proof of eligibility. If your child turns 9 months old between April 1 and August 31, you must apply by August 31 to get free childcare starting in September. If you already receive 15 hours for your child under two, you'll automatically get 30 hours from September, but you still need to confirm your details and provide the code to your provider. Remember to apply early, ideally at least six weeks before the deadline. Some childcare providers ask for codes before the official deadline. Once you have your code, you'll need to reconfirm your details every three months to keep your place, although some providers may offer a short grace period. If you're starting a new job, returning from parental leave, or changing circumstances, deadlines vary - but August 31 is the key date for many parents wanting free childcare starting this autumn. You can apply or check eligibility here. Are you missing out on benefits? YOU can use a benefits calculator to help check that you are not missing out on money you are entitled to Charity Turn2Us' benefits calculator works out what you could get. Entitledto's free calculator determines whether you qualify for various benefits, tax credit and Universal Credit. and charity StepChange both have benefits tools powered by Entitledto's data. You can use Policy in Practice's calculator to determine which benefits you could receive and how much cash you'll have left over each month after paying for housing costs. Your exact entitlement will only be clear when you make a claim, but calculators can indicate what you might be eligible for.

Leader Live
3 hours ago
- Leader Live
Farmers Union of Wales reacts to Sustainable Farming Scheme
Last week, the Welsh Government published the final version of the Sustainable Farming Scheme (SFS). This Scheme will be the primary mechanism through which farm businesses in Wales will be able to apply for farm support from 2026 onwards as the Basic Payment Scheme (BPS) is phased out over the coming years. Since the initial Brexit and Our Land consultation in 2018, the FUW, its officials and staff have invested a remarkable amount of resources into lobbying, negotiating and challenging the Welsh Government in order to try and secure a workable Scheme for the future of our thriving, sustainable family farms and food production across Wales. We can assure FUW members and the wider agricultural community that we left no stone unturned over the past seven years in our ambition to secure a viable post-Brexit farm support framework. We therefore welcome key successes, including securing a total budget for the Universal Baseline Payment and BPS taper combined of £238 million, providing workable payment rates and much needed stability for the sector. This includes the provision of universal payments for common land rights holders. Our lobbying efforts have also retained and strengthened the application of capped and redistributive payments, a longstanding policy position for the FUW and one that maximises the amount of money going to typical Welsh family farms and rural communities. However, we accept that the Scheme is not perfect. The 10% habitat Scheme Rule will be a concern for many as will the Scheme-level ambition to plant 17,000 hectares of trees by 2030. The shorter BPS transition will also be a bitter pill, with the BPS payment now falling to 60% in 2026 and reducing by 20% per year thereafter. We have been consistent in our calls for the BPS transition to follow five equal reductions starting at 80% in 2026 as was initially proposed by the Welsh Government. This Scheme will be different to what we have historically considered as direct farm support or subsidies. I therefore urge all Welsh farmers to consider the Scheme requirements and payment rates in the context of your own businesses. Whether farmers decide to enter the SFS at any point in the future, or continue with the tapering BPS and operate without farm support thereafter, the FUW is here to support you and your businesses throughout the transition period and beyond.


Reuters
6 hours ago
- Reuters
NASA says 20% of workforce to depart space agency
WASHINGTON, July 25 (Reuters) - About 20% of the employees at the U.S. National Aeronautics and Space Administration are set to depart the space agency, a NASA spokesperson said on Friday. Around 3,870 individuals are expected to depart, but that number may change in the coming days and weeks, the spokesperson said, adding that the remaining number of employees at the agency would be around 14,000.