LONDON, June 27, 2026, 19:06 BST
- SSE rose 4.13% in five sessions, closing out Friday at 2,421p.
- SSE’s Coire Glas project shows up on Ofgem’s Friday list at 1,440 MW and 32 hours. Reuters figures that’s about a third of the storage energy in the selected portfolio.
- SSE said Coire Glas isn’t moving forward yet as some details still need to be worked out, and return thresholds will still apply.
- SSE’s AGM and Q1 trading update are set for July 16.
London markets didn’t trade Saturday, so SSE PLC (LON:SSE) last changed hands at Friday’s close. The stock finished at 2,421 pence, gaining 0.08%. Turnover hit 3.4 million shares, about 81% of its 65-day average.
SSE outperformed the FTSE 100 this week, up 4.13% over five days while the index added 1.40%. The FTSE 100 moved from 10,363.27 on June 19 to 10,508.02 on June 26. That put the stock ahead of the index by around 2.7 percentage points.
Ofgem puts 16 long-term power storage projects on cap-and-floor list
The real news for investors wasn’t the small move in shares on Friday. Ofgem named 16 long-duration electricity storage projects that could get cap-and-floor support. The regulator said the list covers 7,645 MW, including pumped hydro, compressed air, lithium-ion batteries and vanadium flow batteries. Ofgem’s Akshay Kaul said the goal is getting “the right infrastructure for renewable energy to thrive”. Ofgem
Coire Glas is near the middle of the list. Ofgem gives the SSE pumped hydro project a rating of 1,440 MW and 32 hours. That’s 18.8% of the chosen capacity and 33.7% of the energy storage, or 46.1 GWh out of a total 136.9 GWh, according to Reuters numbers based on Ofgem’s MW and run-time.
SSE (LON:SSE) has mostly traded on its regulated grid build-out, so the Coire Glas project gives it a new angle: a long-duration asset that could earn under a regulated floor if it makes it to final support and SSE puts in capital. It hasn’t hit that stage yet. The company said it will look at Ofgem’s ruling and still has “a significant number of points of detail” to work through before the project moves ahead. SSE Renewables
Ofgem’s scoring puts weight on the project. Coire Glas came in second for economic assessment with a score of 170.39, clearing the financial assessment bar and holding a green deliverability rating.
SSE is sticking with its £33 billion plan through 2030. In May, it posted adjusted EPS of 153.5p for the year ending March 2026 and set capital investment for the period at £3.6 billion. SSE guided for adjusted EPS of 168p to 193p in 2026/27. The company also expects capex to top £5 billion this financial year.
SSE CEO Martin Pibworth in May called the investment plan “central to long-term value creation” and said the company is seeing “more stable, predictable returns” as regulated and index-linked earnings make up a bigger share. Investegate
SSE’s next key dates are set for later this year. The utility has its AGM and Q1 trading update on July 16. SSE’s final ex-dividend date lands July 23 and shareholders get the final dividend on September 17.
