SSE (LSE:SSE) reported increased investment across its regulated electricity networks business and said renewable generation output is expected to be around 20% higher year-on-year.
Adjusted investment in the regulated networks business increased by approximately 70% compared with the same period last year, driven primarily by progress across 11 major transmission projects.
The group expects total capital investment of around £2.5 billion for the half-year.
Renewable Generation Output Expected to Rise 20%
SSE said renewable generation output is expected to be approximately 20% above the comparable prior-year period, reflecting weather conditions and additional generation capacity.
Construction is also continuing at the Dogger Bank offshore wind farm, where turbine installation on the B phase has passed the halfway point.
SSE Reaffirms Full-Year Earnings Guidance
SSE expects to report interim adjusted earnings per share of between 64 pence and 68 pence.
The company said the expected result reflects reduced seasonality in group earnings as regulated electricity networks account for a larger proportion of profits.
Full-year guidance remains unchanged, with SSE forecasting adjusted earnings per share of between 168 pence and 193 pence for the 2026/27 financial year.
The group is also maintaining its target of adjusted earnings per share of between 225 pence and 250 pence by 2029/30.
SSE expects adjusted net debt and hybrid capital to stand at approximately £11.5 billion.
SSE Energy Operations
SSE is a UK-based energy company with operations focused on regulated electricity networks and renewable power generation.
Its activities include investment in electricity transmission infrastructure and the development and operation of renewable generation assets across the UK and Ireland.
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