SSE ‘reducing UK’s exposure to volatile markets’ – Daily Business

SSE’s grid build-out is on track

Energy company SSE said its record level of capital investment is reducing the UK’s exposure to volatile global energy markets, according to its chief executive.

The Perth-based company said its £33 billion investment plan to 2030 is well under way, with £3.6bn delivered, and it is guiding towards the upper end of its financial forecast.

Full year 2026/27 capex is expected to significantly increase to over £5bn, with net debt continuing to be comfortably within the group’s recently reaffirmed strong investment grade credit ratings.

Construction is under way on five of the 11 major transmission projects, representing around a third of planned transmission investment.

About 75% of major transmission consents have now been received, with the remainder in progress.

Construction is also progressing at Dogger Bank with turbine installation stage at Phase A completed in February 2026, and there has been strong installation progress on Phase B with 20 turbines installed to date.

The company was successful in UK Allocation Round 7 for the 1.4GW Berwick Bank Phase B project, with the remaining 2.7GW of capacity expected to be eligible for the accelerated Allocation Round 8 auction later this calendar year.

The 150MW Ferrybridge Battery Energy Storage System entered full operation in March 2026.

Reported operating profit of £1.889 billion reflects a net £157.7m re-measurement charge, £84.7m group restructuring costs and £77.9m net asset impairments.

Martin Pibworth, chief executive, said: “This year has demonstrated the strength and resilience of SSE’s integrated model. We met all our financial and operational targets and delivery of our fully-funded £33bn investment plan to 2030 – focusing on Networks, Renewables and Flexibility – is well under way.

“That investment is central to long‑term value creation. It is reducing the UK’s exposure to volatile global energy markets and providing more stable, predictable returns through the energy transition, while supporting economic growth and cutting bills for consumers.

“By operating our business efficiently and optimally, while accelerating electrification and building energy infrastructure to unlock homegrown renewables, we are strengthening energy security and lowering system costs over time.

“With record levels of capital investment in line with our plan and strong momentum across the Group, we are well placed to deliver sustainable growth and value creation for our shareholders while helping to build a more affordable and secure energy system for the UK.”

It is recommending a final dividend of 47.3 pence, a 7% increase year-on-year.

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