Overview
- The five-year programme allocates about £22bn to high-voltage transmission in Scotland, £5bn to regional distribution in southern England and Scotland, and £6bn to projects including Dogger Bank.
- Funding will come largely from operational cash flow, alongside a £2bn equity raise and roughly £2bn of asset sales, with the remainder from borrowing.
- SSE projects adjusted net debt and hybrid capital to rise by about £14bn as the plan is executed.
- For the six months to September, operating profit fell 24% to £655m and EPS dropped 29% to 36.1p, while full‑year earnings guidance was reaffirmed and the dividend is expected to increase 5–10%.
- The programme represents a significant step-up from a prior £17.5bn ambition and tilts spending toward regulated networks expected to account for about 80% of the total.