SSE has confirmed its full-year guidance this morning as variable weather conditions have boosted renewable energy production.
The company, listed in London, projects adjusted earnings per share in the range of 154p to 163p, while maintaining its operating profit targets, as reported by .
A significant increase in output from SSE renewables, by just over 25% year-on-year for the first nine months, was influenced by adverse weather and the addition of new capacity.
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Furthermore, total gas-fired generation escalated from 10,797 GWh to 12,459 GWh.
"We are pleased to report good operational performance during the quarter and, more recently, we were able to provide a swift and effective response to Storm Eowyn, with our teams expertly managing widespread network disruption," stated Barry O’Regan, chief financial officer.
"As we look to the opportunities presented by decarbonisation our focus remains on capital discipline, strategic delivery and the efficient operation of our value-creating assets."
Shares of SSE have remained relatively stable over the last year, with a slight decline over four percent, and continued to stay steady on Wednesday.
John Moore, senior investment manager at RBC Brewin Dolphin, remarked, "SSE has delivered another solid quarter in operational terms, but the share price has fallen nearly one-fifth from its peak in September 2024."
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He added, "That is a reflection of a general reduction in energy generation pricing and, in turn, assumptions on the returns that can be made on wind assets."
He further stated: "Nevertheless, the company remains in a strong position in a changing short-term market environment. While near-term headwinds may persist for the next six to nine months, SSE has a long runway of growth given its alignment with energy policy and the broader need for investment in renewables, energy transmission, and storage."