SSE (SSE) Trading Update summary

Earnings and financial outlook

• Adjusted earnings per share for 2024/25 are expected between 154–163 pence, reflecting strong operational performance amid variable weather.

• Targeted adjusted EPS for 2026/27 is set at 175–200 pence, supported by a resilient business mix.

Operational performance

• Renewables output rose 26% year-on-year for the first three quarters, driven by capacity additions and weather.

• Onshore wind, offshore wind, and hydro generation all increased compared to the prior year.

• Gas-fired generation output also grew, with total output up from 10,797 GWh to 12,459 GWh year-on-year.

Strategic and project updates

• SSEN Transmission's RIIO-T3 Business Plan aims for at least £22bn grid investment by 2031, with potential to reach £32bn.

• First power achieved at Yellow River wind farm; financial close on Strathy South; Dogger Bank offshore wind farm progressing.

• SSE Thermal made a final investment decision on the 300MW Tarbert Next Generation biofuel plant, backed by a 10-year capacity agreement.