Energy giant SSE has increased its earnings projection for the second time in just over two months due to a surge in demand for energy from its gas-fired plants.

Energy demand from its gas-fired power stations compensated for the shortfall in renewable energy production and the linked expenses of buying back hedging contracts, the company said.

SSE has revised its anticipated adjusted earnings per share for the full-year of 2022/23 to over 160 pence, up from its prior guidance of over 150 pence.

SSE’s Finance Director, Gregor Alexander, has stated that the company is investing more funds than it is earning in order to advance its ambitious Net Zero Acceleration Programme, which aims to provide a secure, affordable, and clean energy system.

Furthermore, the company is progressing on several projects and expanding its pipeline to comply with its net zero-focused electricity infrastructure strategy.

Article source: https://www.energylivenews.com/2023/03/31/sse-raises-earnings-forecast/