LONDON, March 13, 2026, 18:33 GMT
SSE plc finished Friday’s session at 2,730 pence, gaining 0.96% on the day. The stock briefly hit a new 52-week high of 2,757 pence earlier in the day. This move came two days after the utility announced it had provisionally secured 3,581 MW of generation capacity for Britain’s 2029/30 power auction. 1
SSE’s push is significant: the company wants investor support for a £33 billion, five-year expansion in UK grids and renewables. On Friday, shares rose, bucking a roughly 0.4% drop for the FTSE 100 as war-driven inflation rattled markets. Back in November, chief executive Martin Pibworth put it plainly when the plan was announced: “our world is rapidly electrifying.” 2
Things shifted this month as SSEN Transmission agreed to Ofgem’s RIIO-T3 price-control terms, which set the rules for network investment and returns from April 2026 through March 2031. SSE called the settlement both investable and deliverable. The company pointed to 11 key transmission upgrades lined up behind the plan. 3
The UK’s capacity market is designed to pay power generators for being on standby when demand surges, providing a buffer during times when renewables fall short. SSE reported that its newest haul came to 935 MW of de-rated renewables and 686 MW for Keadby 1. “De-rated” figures reflect government adjustments for estimated supply, the company noted. 4
The company’s provisional wins this time include Marchwood, Seabank, Saltend and Indian Queens. No new contracts landed for Peterhead, Medway, Burghfield or Chickerell, but according to SSE, those sites are still backed by current capacity agreements that run through September 2029. The outcome isn’t final yet—the Department for Energy Security and Net Zero still needs to confirm the auction result. 5
SSE wrapped up Friday with a market cap near 32.9 billion pounds, per figures from the London Stock Exchange. SSE shares have swung between a high of 2,757 pence and a low of 1,469.5 pence for the year, with that bottom recorded on April 8, 2025. 6
SSE shares have hit a fresh high, shrugging off near-term earnings softness. Back in February, the group projected adjusted earnings per share of 144 to 152 pence for the year ending March 2026—lower than last year’s 160.9 pence. Still, renewables output ticked up slightly, and networks investment surged 64% in the first nine months. 7
CFO Barry O’Regan put the emphasis on “accelerating investment” while aiming to build “long-term earnings and value for investors.” Analysts were already on board earlier: Jefferies’ Ahmed Farman noted in November that SSE’s plan delivered “clarity on the balance sheet and the company’s growth outlook.” 7
SSE isn’t the only one ramping up spending. Back in November, Reuters noted National Grid raised 7 billion pounds from shareholders for its investment push. SSE and Germany’s RWE also came out on top in the latest UK offshore wind auction. 2
The real hurdle now is execution. Capacity auction results remain provisional—some gas plants didn’t make the cut this round. SSE has cautioned that its full-year performance hinges on unpredictable factors: weather, market swings, and operational uptime. Another update is expected April 2. 5
