SSE has reaffirmed guidance for 2025/26 after reporting strong networks performance and higher renewables output over the nine months to 31 December 2025.
The regulated networks businesses delivered a 64% rise in investment compared with the same period last year, with around £1.8bn invested as construction accelerates across ASTI and LOTI projects in transmission while distribution progresses spending through its baseline plan and uncertainty mechanisms, SSE stated.
Renewables generation rose 7% year-on-year to reflect capacity additions against mixed weather, according to the update.
Guidance remains subject to weather, market conditions and plant availability for the remainder of the year and SSE will provide an update on actual performance in its notification of closed period statement on 2 April 2026.
SSE said momentum continues behind its £33bn Transformation for Growth plan, with three quarters of major transmission consents now secured as SSEN Transmission has received 25 of the 34 decisions required to deliver 11 projects reinforcing the grid in the north of Scotland.
The Spittal–Peterhead link has become SSEN Transmission’s fifth major project to enter full construction following receipt of its final consent, comprising a 203km 2GW subsea HVDC cable and two converter stations.
Cables for both the Spittal–Peterhead scheme and the planned Western Isles link have been secured under a €2bn contract awarded to NKT, which SSE described as SSEN Transmission’s biggest ever.
SSE also welcomed improvements to baseline total expenditure in Ofgem’s RIIO-T3 final determination and noted updates to proposed financial parameters and incentives, adding that the group continues to assess the overall investability of the package before the 3 March deadline for acceptance.
SSEN Transmission has signed a £1bn, 12-year bank facility backed by an £800m guarantee from the UK Government’s National Wealth Fund as well as a £500m, 19-year facility guaranteed by the Swedish Export Credit Agency to support funding diversification as investment ramps up.
In offshore wind, SSE said the 1.4GW Berwick Bank B project will progress towards final investment decision after securing a 20-year contract in last month’s CfD allocation round 7 at a strike price of £89.49/MWh.
Turbine installation is nearing completion at Dogger Bank A, with the final, 95th unit set to be installed in the next available weather window before work moves immediately to Dogger Bank B, while commissioning on Dogger Bank A continues.
Barry O’Regan, chief financial officer, said: “Since announcing our £33bn investment programme to unlock the enormous growth opportunity presented by the transformation of electricity networks, our focus has been on accelerating investment and delivering the plan that will create compounding, long-term earnings and value for investors.
“We are encouraged by recent steps from government and regulators – from positive signals on the upcoming transmission price control to the success of AR7 and updated ambitions for offshore wind – which highlight the value of SSE’s integrated business model and will ultimately help deliver a cleaner, secure and more affordable energy system.”