{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2024-03-27/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "sseplc": "http://sseplc.com/xbrl/2025", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://sseplc.com/xbrl/2025/549300KI75VYLLMSK856-2026-03-31.xsd" ] }, "facts": { "fact-1": { "value": "We generate, back up and transport the electricity needed in everyday life. We do this by investing, developing, building, and operating in three key areas of the energy value chain, through a balanced portfolio of regulated and market businesses:", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-6": { "value": "10186500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-7": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-8": { "value": "10186500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-9": { "value": "10131900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-10": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-11": { "value": "10131900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-12": { "value": "6270700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-13": { "value": "141600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-14": { "value": "6412300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-15": { "value": "6210900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-16": { "value": "57400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-17": { "value": "6268300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-18": { "value": "3915800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-19": { "value": "-141600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-20": { "value": "3774200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-21": { "value": "3921000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-22": { "value": "-57400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-23": { "value": "3863600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-24": { "value": "1818600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-25": { "value": "162600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-26": { "value": "1981200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-27": { "value": "1742000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-28": { "value": "309700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-29": { "value": "2051700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OperatingExpense", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-30": { "value": "29400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-31": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-32": { "value": "29400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-33": { "value": "47100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-34": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-35": { "value": "47100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-36": { "value": "37300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-37": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-38": { "value": "37300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-39": { "value": "107500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-40": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-41": { "value": "107500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-42": { "value": "2105100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-43": { "value": "-304200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-44": { "value": "1800900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-45": { "value": "2239400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-46": { "value": "-367100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-47": { "value": "1872300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-48": { "value": "311000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-49": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-50": { "value": "311000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-51": { "value": "284300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-52": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-53": { "value": "284300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfOperatingProfitRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-54": { "value": "-155700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-55": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-56": { "value": "-155700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-57": { "value": "-164300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-58": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-59": { "value": "-164300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfInterestRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-60": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-61": { "value": "-21400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-62": { "value": "-21400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-63": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-64": { "value": "-28100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-65": { "value": "-28100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfMovementOnDerivativesRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-66": { "value": "51200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-67": { "value": "-5300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-68": { "value": "45900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-69": { "value": "9000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-70": { "value": "-7000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-71": { "value": "2000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareOfTaxRelatingToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-72": { "value": "104100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-73": { "value": "-16100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-74": { "value": "88000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-75": { "value": "111000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-76": { "value": "-21100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-77": { "value": "89900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-78": { "value": "2209200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-79": { "value": "-320300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-80": { "value": "1888900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-81": { "value": "2350400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-82": { "value": "-388200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-83": { "value": "1962200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-84": { "value": "240900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-85": { "value": "17900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-86": { "value": "258800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-87": { "value": "194800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-88": { "value": "13100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-89": { "value": "207900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-90": { "value": "310400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-91": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-92": { "value": "310400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-93": { "value": "319200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-94": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-95": { "value": "319200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-96": { "value": "2139700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-97": { "value": "-302400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-98": { "value": "1837300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-99": { "value": "2226000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-100": { "value": "-375100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-101": { "value": "1850900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-102": { "value": "482200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-103": { "value": "-56500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-104": { "value": "425700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-105": { "value": "551700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-106": { "value": "-33700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-107": { "value": "518000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-108": { "value": "1657500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-109": { "value": "-245900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-110": { "value": "1411600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-111": { "value": "1674300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-112": { "value": "-341400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-113": { "value": "1332900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-114": { "value": "1456500000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-115": { "value": "-247800000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-116": { "value": "1208700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-117": { "value": "1530800000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-118": { "value": "-341400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-119": { "value": "1189400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-120": { "value": "128100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-121": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-122": { "value": "130000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-123": { "value": "69800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-124": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-125": { "value": "69800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-126": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-127": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-128": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-129": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:BeforeExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-130": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "sseplc:ConsolidatedIncomeStatementAxis": "sseplc:ExceptionalItemsAndCertainRemeasurementsMember", "unit": "iso4217:GBP" } }, "fact-131": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ProfitLossAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-132": { "value": "1.055", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-133": { "value": "1.082", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-134": { "value": "1.054", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-135": { "value": "1.081", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-136": { "value": "1411600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-137": { "value": "1332900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-138": { "value": "-14200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-139": { "value": "48100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-140": { "value": "-3200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:TransferredToAssetsAndLiabilitiesOnCashFlowHedges", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-141": { "value": "-10000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:TransferredToAssetsAndLiabilitiesOnCashFlowHedges", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-142": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-143": { "value": "11300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-144": { "value": "-7200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-145": { "value": "46800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-146": { "value": "-35000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-147": { "value": "-16700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-148": { "value": "64400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-149": { "value": "-42900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-150": { "value": "-87500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-151": { "value": "36000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-152": { "value": "-65300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-153": { "value": "23200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-154": { "value": "-60600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-155": { "value": "39600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-156": { "value": "-15800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-157": { "value": "15800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-158": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-159": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-160": { "value": "-76300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-161": { "value": "55100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-162": { "value": "-141600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-163": { "value": "78300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-164": { "value": "1270000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-165": { "value": "1411200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-166": { "value": "1074300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ComprehensiveIncomeAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-167": { "value": "1263600000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ComprehensiveIncomeAttributableToOrdinaryShareholdersOfTheParent", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-168": { "value": "122800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-169": { "value": "73900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-170": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ComprehensiveIncomeAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-171": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ComprehensiveIncomeAttributableToOtherEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-172": { "value": "1270000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-173": { "value": "1411200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-174": { "value": "22022300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-175": { "value": "18824100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-176": { "value": "2249100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:NoncurrentGoodwillAndOtherIntangibleAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-177": { "value": "2170500000.0", "decimals": -5, "dimensions": { "concept": "sseplc:NoncurrentGoodwillAndOtherIntangibleAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-178": { "value": "1945100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-179": { "value": "1987300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-180": { "value": "1621200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:LoansToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-181": { "value": "1510300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:LoansToJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-182": { "value": "7600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-183": { "value": "8800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-184": { "value": "604000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-185": { "value": "447700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-186": { "value": "193900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-187": { "value": "63500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-188": { "value": "459800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-189": { "value": "501800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-190": { "value": "29103000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-191": { "value": "25514000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-192": { "value": "527300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:CurrentIntangibleAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-193": { "value": "392700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:CurrentIntangibleAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-194": { "value": "434200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-195": { "value": "462900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-196": { "value": "3030300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-197": { "value": "2695400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-198": { "value": "18200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-199": { "value": "29700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-200": { "value": "1542900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-201": { "value": "1090500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-202": { "value": "651400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-203": { "value": "178400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-204": { "value": "46300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-205": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-206": { "value": "6250600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-207": { "value": "4849600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-208": { "value": "35353600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-209": { "value": "30363600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-210": { "value": "1204400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-211": { "value": "1964000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-212": { "value": "3286900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-213": { "value": "2708200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-214": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-215": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-216": { "value": "2400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-217": { "value": "2400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-218": { "value": "59600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-219": { "value": "80500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-220": { "value": "641100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-221": { "value": "126300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-222": { "value": "3000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-223": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-224": { "value": "5215200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-225": { "value": "4881400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-226": { "value": "8916800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-227": { "value": "8640400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-228": { "value": "2141500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-229": { "value": "1844500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-230": { "value": "1658700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-231": { "value": "1437600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-232": { "value": "19000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-233": { "value": "23100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-234": { "value": "711900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-235": { "value": "676100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-236": { "value": "289200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-237": { "value": "167700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-238": { "value": "13737100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-239": { "value": "12789400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-240": { "value": "18952300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-241": { "value": "17670800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-242": { "value": "16401300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-243": { "value": "12692800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-244": { "value": "607700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-245": { "value": "555600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-246": { "value": "2738900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-247": { "value": "812600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-248": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CapitalRedemptionReserve", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-249": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CapitalRedemptionReserve", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-250": { "value": "397000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HedgeReserve", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-251": { "value": "432700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HedgeReserve", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-252": { "value": "-31000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-253": { "value": "-8600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-254": { "value": "8898700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-255": { "value": "8336700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-256": { "value": "12663900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:EquityAttributableToOrdinaryShareholdersOfTheParentBeforeHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-257": { "value": "10181600000.0", "decimals": -5, "dimensions": { "concept": "sseplc:EquityAttributableToOrdinaryShareholdersOfTheParentBeforeHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-258": { "value": "2985800000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-259": { "value": "1882400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-260": { "value": "751600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-261": { "value": "628800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-262": { "value": "16401300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-263": { "value": "12692800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-2": { "value": "These financial statements were approved by the Board of Directors on 27 May 2026 and signed on their behalf by: Barry O\u2019Regan, Sir John Manzoni, CChief f Financial l Officer r Chairmann ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-264": { "value": "555600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-265": { "value": "812600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-266": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-267": { "value": "432700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-268": { "value": "-8600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-269": { "value": "8336700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-270": { "value": "10181600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-271": { "value": "1882400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-272": { "value": "12064000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-273": { "value": "628800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-274": { "value": "12692800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-275": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-276": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-277": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-278": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-279": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-280": { "value": "1208700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-281": { "value": "1208700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-282": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-283": { "value": "1281600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-284": { "value": "130000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-285": { "value": "1411600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-286": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-287": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-288": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-289": { "value": "-35700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-290": { "value": "-22400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-291": { "value": "-76300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-292": { "value": "-134400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-293": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-294": { "value": "-134400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-295": { "value": "-7200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-296": { "value": "-141600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-297": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-298": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-299": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-300": { "value": "-35700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-301": { "value": "-22400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-302": { "value": "1132400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-303": { "value": "1074300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-304": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-305": { "value": "1147200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-306": { "value": "122800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-307": { "value": "1270000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-308": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-309": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-310": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-311": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-312": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-313": { "value": "734100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-314": { "value": "734100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-315": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-316": { "value": "734100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-317": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-318": { "value": "734100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-319": { "value": "3200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-320": { "value": "-3200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-321": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-322": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-323": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-324": { "value": "133000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-325": { "value": "133000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-326": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-327": { "value": "133000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-328": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-329": { "value": "133000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-330": { "value": "48900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-331": { "value": "1929500000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-332": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-333": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-334": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-335": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-336": { "value": "1978400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-337": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-338": { "value": "1978400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-339": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-340": { "value": "1978400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfSharesNetOfCosts", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-341": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-342": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-343": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-344": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-345": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-346": { "value": "17400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-347": { "value": "17400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-348": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-349": { "value": "17400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-350": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-351": { "value": "17400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-352": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-353": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-354": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-355": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-356": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-357": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-358": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-359": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-360": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-361": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-362": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-363": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-364": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-365": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-366": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-367": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-368": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-369": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-370": { "value": "1103400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-371": { "value": "1103400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-372": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-373": { "value": "1103400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:IssueOfHybridEquity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-374": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-375": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-376": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-377": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-378": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-379": { "value": "38700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-380": { "value": "38700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-381": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-382": { "value": "38700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-383": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-384": { "value": "38700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-385": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-386": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-387": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-388": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-389": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-390": { "value": "25400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-391": { "value": "25400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-392": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-393": { "value": "25400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-394": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-395": { "value": "25400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-396": { "value": "607700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-397": { "value": "2738900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-398": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-399": { "value": "397000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-400": { "value": "-31000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-401": { "value": "8898700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-402": { "value": "12663900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-403": { "value": "2985800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-404": { "value": "15649700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-405": { "value": "751600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-406": { "value": "16401300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-407": { "value": "548100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-408": { "value": "820100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-409": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-410": { "value": "407600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-411": { "value": "-2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-412": { "value": "7540000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-413": { "value": "9365800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-414": { "value": "1882400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-415": { "value": "11248200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-416": { "value": "554900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-417": { "value": "11803100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-418": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-419": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-420": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-421": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-422": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-423": { "value": "1189400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-424": { "value": "1189400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-425": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-426": { "value": "1263100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-427": { "value": "69800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-428": { "value": "1332900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-429": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-430": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-431": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-432": { "value": "25100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-433": { "value": "-6000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-434": { "value": "55100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-435": { "value": "74200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-436": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-437": { "value": "74200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-438": { "value": "4100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-439": { "value": "78300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-440": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-441": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-442": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-443": { "value": "25100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-444": { "value": "-6000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-445": { "value": "1244500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-446": { "value": "1263600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-447": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-448": { "value": "1337300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-449": { "value": "73900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-450": { "value": "1411200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-451": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-452": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-453": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-454": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-455": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-456": { "value": "671000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-457": { "value": "671000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-458": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-459": { "value": "671000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-460": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-461": { "value": "671000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-462": { "value": "7500000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-463": { "value": "-7500000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-464": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-465": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-466": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-467": { "value": "268900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-468": { "value": "268900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-469": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-470": { "value": "268900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-471": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-472": { "value": "268900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ScripDividendRelatedShareIssue", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-473": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-474": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-475": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-476": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-477": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-478": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-479": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-480": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-481": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-482": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-483": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SaleOrIssueOfTreasuryShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-484": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-485": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-486": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-487": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-488": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-489": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-490": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-491": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-492": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-493": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-494": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DistributionsToHybridEquityHolders", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-495": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-496": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-497": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-498": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-499": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-500": { "value": "71700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-501": { "value": "71700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-502": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-503": { "value": "71700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-504": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-505": { "value": "71700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:ShareBuyBack", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-506": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-507": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-508": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-509": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-510": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-511": { "value": "22300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-512": { "value": "22300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-513": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-514": { "value": "22300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-515": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-516": { "value": "22300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-517": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-518": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-519": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-520": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-521": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-522": { "value": "14100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-523": { "value": "14100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-524": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-525": { "value": "14100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-526": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-527": { "value": "14100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:InvestmentInOwnShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-528": { "value": "555600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-529": { "value": "812600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-530": { "value": "52600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-531": { "value": "432700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HedgeReserveMember", "unit": "iso4217:GBP" } }, "fact-532": { "value": "-8600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-533": { "value": "8336700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-534": { "value": "10181600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:ProfitLossAttributableToOrdinaryShareholdersOfTheParentMember", "unit": "iso4217:GBP" } }, "fact-535": { "value": "1882400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:HybridEquityMember", "unit": "iso4217:GBP" } }, "fact-536": { "value": "12064000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "sseplc:TotalEquityBeforeNonControllingInterestsMember", "unit": "iso4217:GBP" } }, "fact-537": { "value": "628800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-538": { "value": "12692800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-539": { "value": "1888900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-540": { "value": "1962200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-541": { "value": "88000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:LessShareOfProfitOfJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-542": { "value": "89900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:LessShareOfProfitOfJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-543": { "value": "1800900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointlyControlledEntitiesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-544": { "value": "1872300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:OperatingProfitLossBeforeJointlyControlledEntitiesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-545": { "value": "9300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForPensionServiceChargesLessContributionsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-546": { "value": "6700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForPensionServiceChargesLessContributionsPaid", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-547": { "value": "-149800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-548": { "value": "-60100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-549": { "value": "979000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-550": { "value": "1057100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-551": { "value": "29600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-552": { "value": "22300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-553": { "value": "7300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-554": { "value": "47900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-555": { "value": "8800000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForCreditChargeInRespectOfProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-556": { "value": "-6400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForCreditChargeInRespectOfProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-557": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForCreditInRespectOfFinancialGuarantees", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-558": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:AdjustmentsForCreditInRespectOfFinancialGuarantees", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-559": { "value": "-13100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDeferredIncomeOtherThanContractLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-560": { "value": "-14100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDeferredIncomeOtherThanContractLiabilities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-561": { "value": "2919100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-562": { "value": "2947600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-563": { "value": "17900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-564": { "value": "-109500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-565": { "value": "-100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-566": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-567": { "value": "474800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-568": { "value": "-196000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-569": { "value": "-36800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-570": { "value": "-23700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-571": { "value": "3374900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-572": { "value": "2621000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-573": { "value": "184100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-574": { "value": "200600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-575": { "value": "243300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-576": { "value": "260100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-577": { "value": "180800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-578": { "value": "155900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-579": { "value": "61300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-580": { "value": "240600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-581": { "value": "3435200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-582": { "value": "2476800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-583": { "value": "4147000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-584": { "value": "2689200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-585": { "value": "296600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-586": { "value": "441800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-587": { "value": "41700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromGovernmentGrantsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-588": { "value": "55700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromGovernmentGrantsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-589": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DeferredIncomeReceivedClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-590": { "value": "20200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DeferredIncomeReceivedClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-591": { "value": "7800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-592": { "value": "25200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-593": { "value": "22700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-594": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-595": { "value": "288300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAdvancesAndLoansMadeToRelatedParties", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-596": { "value": "408300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAdvancesAndLoansMadeToRelatedParties", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-597": { "value": "79400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-598": { "value": "121700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-599": { "value": "1300000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DecreaseIncreaseInOtherInvestmentsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-600": { "value": "-1900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:DecreaseIncreaseInOtherInvestmentsClassifiedAsInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-601": { "value": "-4624100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-602": { "value": "-3318400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-603": { "value": "1995800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-604": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-605": { "value": "601100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-606": { "value": "402100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-607": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-608": { "value": "71700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-609": { "value": "72900000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HybridEquityDividendPaymentsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-610": { "value": "73700000.0", "decimals": -5, "dimensions": { "concept": "sseplc:HybridEquityDividendPaymentsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-611": { "value": "25400000.0", "decimals": -5, "dimensions": { "concept": "sseplc:EmployeeShareAwardsSharePurchaseClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-612": { "value": "14100000.0", "decimals": -5, "dimensions": { "concept": "sseplc:EmployeeShareAwardsSharePurchaseClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-613": { "value": "1103400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingOtherEquityInstruments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-614": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingOtherEquityInstruments", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-615": { "value": "1595300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-616": { "value": "2592200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-617": { "value": "2357000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-618": { "value": "1162200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-619": { "value": "3200000.0", "decimals": -5, "dimensions": { "concept": "sseplc:SettlementOfCashflowHedgesClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-620": { "value": "10000000.0", "decimals": -5, "dimensions": { "concept": "sseplc:SettlementOfCashflowHedgesClassifiedAsFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-621": { "value": "1641300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-622": { "value": "896200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-623": { "value": "452400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-624": { "value": "54600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-625": { "value": "1090500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-626": { "value": "1035900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-627": { "value": "452400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-628": { "value": "54600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-629": { "value": "1542900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-630": { "value": "1090500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-636": { "value": "
1.1. General information
SSE plc (the \u201cCompany\u201d) is a company domiciled in Scotland.
The address of the registered office is given on the back cover.
The Group\u2019s operations and its principal activities are set out in
the Strategic Report. The consolidated financial statements for the
year ended 31 March 2026 comprise those of the Company and
its subsidiaries (together referred to as the Group). The Company
financial statements present information about the Company as
a separate entity and not about the Group, these can be seen on
pages 244 to 253
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-4": { "value": "SSE plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-632": { "value": "SSE plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-633": { "value": "SSE plc", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-634": { "value": "plc", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-3": { "value": "Scotland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-631": { "value": "Scotland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-637": { "value": "1.2. Basis of preparation Statement of compliance The financial statements were authorised for issue by the Directors on 27 May 2026. The financial statements have been prepared in accordance with UK-adopted International Accounting Standards (\u201cIAS\u201d). Going Concern The Directors consider that the Group has adequate resources to continue in operational existence for the period to 31 December 2027. The financial statements are therefore prepared on a Going Concern basis. In addition, further details of the Group\u2019s liquidity position and Going Concern review are provided at note 21 and in A6 . Accompanying Information to the Financial Statements. Basis of measurement The financial statements of the Group are prepared on the historical cost basis except for certain gas inventory, derivative financial instruments, financial instruments designated at fair value through profit or loss or other comprehensive income on initial recognition, assets of the Group pension schemes, all of which are measured at their fair value, and liabilities of the Group\u2019s pension schemes which are measured using the projected unit credit method. The directors believe the financial statements present a true and fair view. The financial statements of the Group are presented in pounds Sterling, and all values are rounded to the nearest million to one decimal place (\u00a3m), unless otherwise stated. The basis for including operations and transactions conducted in currencies other than pounds Sterling is provided in A1 . Accompanying Information to the Financial Statements on page 210 . Use of estimates and judgements The preparation of financial statements conforming with adopted IFRS requires the use of certain accounting estimates. It also requires management to exercise judgement in the process of applying the accounting policies. The areas involving a higher level of judgement or estimation are summarised at pages 159 to 160 . Share-based payments The Group previously assessed that, on the basis of materiality, the disclosures required under IFRS 2 \u201cShare-based Payment\u201d should be removed. The Group has assessed that at 31 March 2026 these disclosures continue to be immaterial to the Group\u2019s financial statements. Changes to presentation and prior year adjustments The prior year comparatives at 31 March 2025 have been restated as follows: Segments In accordance with the requirements of IFRS 8 \u201cOperating Segments\u201d the Group aligns its segmental disclosures with its internal reporting to the Group Executive Committee (the Chief Operating Decision Maker). The reporting of these operating segments is used to assess operating performance and to make decisions on how to allocate capital.
During the year to 31 March 2026, reporting to the Group Executive
Committee was amended so that SSE Thermal includes Gas Storage;
Energy Customer Solutions includes SSE Business Energy and SSE
Airtricity; and Corporate unallocated includes the loss on the Group\u2019s
joint venture investment in Neos Networks Limited (note 16
). The
segmental results reported within these financial statements have
been restated from 1 April 2024 (note 5
), which had no impact on
the consolidated results of the Group in all periods presented.
Capital prepayments
Due to the long-term nature of capital projects within the Group,
a greater proportion of prepayments to suppliers to secure materials
and production capacity in advance are extending beyond 12 months.
Under the Group\u2019s previous accounting policy, all capital prepayments
were shown as current assets. However, the Group has elected to
amend its accounting policy for disclosure of capital prepayments
to split prepayments between current and non-current maturity.
In accordance with IAS 8 \u201cAccounting Policies, Changes in
Accounting Estimates and Errors\u201d the balance sheet for the year
ended 31 March 2025 has been restated to present \u00a3247.8m of
capital prepayments as non-current assets (2026 equivalent:
\u00a3372.0m). This change in policy had no impact on net assets, the
income statement, statement of cashflows or Alternative Performance
Measures of the Group at any reporting date.
Deferred income
A prior period adjustment has been made to restate deferred income
split between current and non-current maturity following incorrect
classification at 31 March 2025. Deferred income due after more
than one year has increased from \u00a31,247.9m to \u00a31,437.6m (2026
equivalent: from \u00a31,468.6m to \u00a31,658.7m) within non-current \u201cTrade
and other payables\u201d; and current \u201cTrade and other payables\u201d has
decreased from \u00a32,897.9m to \u00a32,708.2m at 31 March 2025 (2026
equivalent: \u00a33,477.0m to \u00a33,286.9m). This adjustment has no impact
on retained earnings, net assets or the consolidated Alternative
Performance Measures of the Group, at any reporting date.
Alternative Performance Measures \u2013 adjustment for net debt and
cash attributable to non-controlling interests and related net
finance costs
Where external funding is raised by SSE plc and used to fund
investment in subsidiaries whose non-controlling interest holders
do not contribute capital on a proportionate basis, such as SSEN
Transmission, the Group has removed a proportionate share of
external debt and related net finance costs to better represent
the Group\u2019s underlying economic interest. This refinement
represents a change to the derivation of the adjusted debt measure
applied in the 31 March 2026 financial statements and comparatives
at 31 March 2025 have been restated accordingly. This adjustment
has no impact on reported net assets, income statement or statement
of cashflows of the Group, at any reporting date. The restatement
results in a decrease of
Adjusted Net Debt and Hybrid Capital by
\u00a3120.0m from \u00a310,186.7m to \u00a310,066.7m, a decrease in Adjusted Net
Finance Costs from \u00a3281.0m to \u00a3274.7m, an increase in Adjusted
Profit Before Tax from \u00a32,138.2m to \u00a32,144.5m and an increase in
Adjusted Earnings per Share by 0.4 pence from 160.9 pence to
161.3 pence. There have been no other changes to the Group\u2019s APMs
in the current year.
Cash flow statement
A prior year restatement has been made to present interest paid
of \u00a3260.1m (2026 equivalent: \u00a3243.3m) and interest received of
\u00a3155.9m (2026 equivalent: \u00a3180.8m) gross (previously presented net)
in the cash flow statement in accordance with the requirements of
IAS 7 \u201cStatement of Cash Flows\u201d. This restatement had no impact on
net cash from operating activities in the cash flow statement, retained
earnings, net assets or the consolidated Alternative Performance
Measures of the Group, at any reporting date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-680": { "value": "
Statement of compliance
The financial statements were authorised for issue by the Directors
on 27 May 2026. The financial statements have been prepared in
accordance with UK-adopted International Accounting Standards
(\u201cIAS\u201d).
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-681": { "value": "
Going Concern
The Directors consider that the Group has adequate resources to
continue in operational existence for the period to 31 December
2027. The financial statements are therefore prepared on a Going
Concern basis.
In addition, further details of the Group\u2019s liquidity position and Going
Concern review are provided at note 21
and in A6 .
Accompanying Information to the Financial Statements.
A6.3 Liquidity risk and Going Concern Liquidity risk, the risk that the Group will have insufficient funds to meet its liabilities, is managed by the Group\u2019s Treasury function. The Group can be exposed to significant movements in its liquidity position due to changes in commodity prices, working capital requirements, the impact of the seasonal nature of the business and phasing of its capital investment programme. Treasury is responsible for managing the banking and liquidity requirements of the Group, risk management relating to interest rate and foreign exchange exposures, and for managing the credit risk relating to the banking counterparties with which it transacts. Short term liquidity is reviewed daily by Treasury, while the longer-term liquidity position is reviewed on a regular basis by the Board. The department\u2019s operations are governed by policies determined by the Board and any breaches of these policies are reported to the Tax and Treasury Committee and Audit Committee. In relation to the Group\u2019s liquidity risk, the Group\u2019s policy is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. During the year, the Group\u2019s internal approach to managing liquidity was to seek to ensure that the Group had available committed borrowings and facilities equal to at least 100% of forecast borrowings over a rolling 12 month period. The Group uses cash flow forecasts to monitor its ongoing borrowing requirements. Typically, the Group will fund any short term borrowing positions by issuing commercial paper or borrowing from committed and uncommitted bank lines and will invest in money market funds when it has a cash surplus. Details of the Group\u2019s borrowings are disclosed at note 21 . In addition to the borrowing facilities listed at note 21.3 , the Group has a \u00a321m overdraft facility. The refinancing requirement in the 26/27 financial year is \u00a31.7bn, being the \u00a3501m of short term commercial paper that matures between April and June, and \u00a31.2bn of medium to long term debt maturing being the \u00a3600m Hybrid maturing in April 2026, \u00a3300m of EIB loans maturing in May 2026 and \u00a3311m of US Private Placements maturing between June 2026 and September 2026. The Directors are confident in the ability of the Group to maintain a funding level above 100% for the Going Concern assessment period based on the strong credit standing and borrowing history of the Group for both fixed debt and commercial paper, as discussed more fully below. Given the committed bank facilities of \u00a36.5bn, \u00a33.0bn excluding Scottish Hydro Electric Transmission plc facilities, maintained by the Group and the current commercial paper market conditions, the Directors have concluded that both the Group and SSE plc as parent company have sufficient headroom to continue as a Going Concern. In coming to this conclusion, the Directors have taken into account the Group\u2019s credit rating and the successful issuance of \u00a36.4bn of medium to long term debt and Hybrid equity in last 5 years, including \u00a32.2bn of long term funding in the current financial year as well as raising \u00a32bn through an equity raise in November 2025. The Group\u2019s period of Going Concern assessment is performed to 31 December 2027, 21 months from the balance sheet date, which isatleast 12 months from the filing deadline of its subsidiary companies. While the formal assessment period was to the period ending 31 December 2027, a period of three months beyond this date was reviewed for significant events that may result in a change to the conclusion of the assessment. No events or circumstances were identified in that period beyond the formal assessment. As well as taking account of the factors noted, the Going Concern conclusion is arrived at after applying stress testing sensitivities to the Group\u2019s cash flow and funding projections including removal of proceeds from unconfirmed future divestments, negative and positive sensitivities on operating cash flows and uncommitted capex and other adjustments. The Group has also considered its obligations under its debt covenants. There have been no breaches of covenants in the year, and the Group\u2019s projections support the expectation that there will be no breach of covenants over the period to 31 December 2027. The statement of Going Concern is included in the Audit Committee Report. As at 31 March 2026, the net value of outstanding cash collateral held in respect of mark-to-market related margin calls on exchange traded positions was \u00a3258.3m (2025: \u00a372.9m). The contractual cash flows shown in the following tables are the contractual undiscounted cashflows under the relevant financial instruments. Where the contractual cashflows are variable based on a price, foreign exchange rate or index in the future, the contractual cashflows in the following tables have been determined with reference to the relevant price, foreign exchange rate, interest rate or index as at the balance sheet date. In determining the interest element of contractual cashflows in cases where the Group has a choice as to the length of in terest calculation periods and the interest rate that applies varies with the period selected, the contractual cashflows have been calculated assuming the Group selects the shortest available interest calculation periods. Where the holder of an instrument has a choice of when to redeem, the amounts in the following tables are on the assumption the holder redeems at the earliest opportunity. The following are the undiscounted contractual maturities of financial liabilities, including interest and excluding the impact of netting agreements:
2026
2026
2026
2026
2026
2026
Contractual
Carrying value cash flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
501.2
(502.2)
(502.2)
\u2013
\u2013
\u2013
Loans \u2013 floating
562.7
(693.6)
(26.2)
(226.2)
(300.4)
(140.8)
Loans \u2013 fixed
1,296.4
(1,615.3)
(658.0)
(73.4)
(113.1)
(770.8)
Unsecured bonds \u2013 fixed
7,288.5
(9,935.7)
(306.8)
(1,142.8)
(2,258.3)
(6,227.8)
Fair value adjustment
1 5 . 7
\u2013
\u2013
\u2013
\u2013
\u2013
9,664.5
(12,746.8)
(1,493.2)
(1,442.4)
(2,671.8)
(7,139.4)
Lease liabilities
456.7
(700.1)
(86.8)
(61.6)
(161.6)
(390.1)
10,121.2
(13,446.9)
(1,580.0)
(1,504.0)
(2,833.4)
(7,529.5)
Derivative financial liabilities
Operating derivatives designated at fair value
843.9
2,558.6
1,590.7
704.6
133.0
130.3
Interest rate swaps used for hedging
28.5
(28.5)
\u2013
(16.0)
\u2013
(12.5)
Interest rate swaps designated at fair value
20.7
(20.7)
\u2013
(6.6)
(0.9)
(13.2)
Forward foreign exchange contracts held for hedging
34.5
(2,410.9)
(447.5)
(780.3)
(1,183.1)
\u2013
Forward foreign exchange contracts designated at
fair value
2.7
(113.2)
(43.3)
(12.3)
(57.6)
\u2013
930.3
(14.7)
1,099.9
(110.6)
(1,108.6)
104.6
Other financial liabilities
Trade payables
898.7
(898.7)
(898.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
21.4
(21.4)
(2.4)
(5.0)
(8.4)
(5.6)
920.1
(920.1)
(901.1)
(5.0)
(8.4)
(5.6)
Total
11,971.6
(14,381.7)
(1,381.2)
(1,619.6)
(3,950.4)
(7,430.5)
Derivative financial assets
Financing derivatives
(160.3)
3,227.1
526.9
1,926.5
680.0
93.7
Operating derivatives designated at fair value
(685.0)
(1,278.3)
(1,077.7)
(223.3)
11.9
10.8
(845.3)
1,948.8
(550.8)
1,703.2
691.9
104.5
Net total
(i)
11,126.3
(12,432.9)
(1,932.0)
83.6
(3,258.5)
(7,326.0)
2025
2025
2025
2025
2025
2025
Contractual cash
Carrying value flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
1,230.5
(1,243.0)
(1,243.0)
\u2013
\u2013
\u2013
Loans \u2013 floating
200.0
(233.3)
(11.1)
(11.1)
(211.1)
\u2013
Loans \u2013 fixed
1,300.4
(1,669.0)
(54.6)
(346.7)
(459.1)
(808.6)
Unsecured bonds \u2013 fixed
7,507.1
(10,125.6)
(777.9)
(792.8)
(1,999.5)
(6,555.4)
Fair value adjustment
(88.6)
\u2013
\u2013
\u2013
\u2013
\u2013
10,149.4
(13,270.9)
(2,086.6)
(1,150.6)
(2,669.7)
(7,364.0)
Lease liabilities
455.0
(711.9)
(75.2)
(64.4)
(169.1)
(403.2)
10,604.4
(13,982.8)
(2,161.8)
(1,215.0)
(2,838.8)
(7,767.2)
Derivative financial liabilities
Operating derivatives designated at fair value
162.1
387.3
(81.1)
205.9
92.4
170.1
Interest rate swaps used for hedging
76.8
(76.8)
(45.5)
(17.4)
(12.6)
(1.3)
Interest rate swaps designated at fair value
31.0
(31.0)
(7.4)
(7.5)
(5.5)
(10.6)
Forward foreign exchange contracts held for hedging
19.9
(975.4)
(258.1)
(171.8)
(545.5)
\u2013
Forward foreign exchange contracts designated at fair
value
4.2
(474.0)
(413.6)
(56.2)
(4.2)
\u2013
294.0
(1,169.9)
(805.7)
(47.0)
(475.4)
158.2
Other financial liabilities
Trade payables
710.7
(710.7)
(710.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
25.5
(25.5)
(2.4)
(7.8)
(3.6)
(11.7)
736.2
(736.2)
(713.1)
(7.8)
(3.6)
(11.7)
Total
11,634.6
(15,888.9)
(3,680.6)
(1,269.8)
(3,317.8)
(7,620.7)
Derivative financial assets
Financing derivatives
(83.7)
793.5
544.2
172.9
70.9
5.5
Operating derivatives designated at fair value
(158.2)
366.5
304.6
26.0
24.0
11.9
(241.9)
1,160.0
848.8
198.9
94.9
17.4
Net total
(i)
11,392.7
(14,728.9)
(2,831.8)
(1,070.9)
(3,222.9)
(7,603.3)
(i) The Group believes the liquidity risk associated with out-of-the-money operating derivative contracts needs to be considered in conjunction with the profile of payments or receipts arising from derivative financial assets. It should be noted that cash flows associated with future energy sales and commodity contracts which are not IFRS 9 financial instruments are not included in this analysis, which is prepared in accordance with IFRS 7 \u201cFinancial Instruments: Disclosures\u201d. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-682": { "value": "
Basis of measurement
The financial statements of the Group are prepared on the historical
cost basis except for certain gas inventory, derivative financial
instruments, financial instruments designated at fair value through
profit or loss or other comprehensive income on initial recognition,
assets of the Group pension schemes, all of which are measured at
their fair value, and liabilities of the Group\u2019s pension schemes which
are measured using the projected unit credit method. The directors
believe the financial statements present a true and fair view. The
financial statements of the Group are presented in pounds Sterling,
and all values are rounded to the nearest million to one decimal place
(\u00a3m), unless otherwise stated. The basis for including operations and
transactions conducted in currencies other than pounds Sterling is
provided in A1
. Accompanying Information to the Financial
Statements on page 210
.
", "dimensions": { "concept": "ifrs-full:ExplanationOfMeasurementBasesForFinancialInstrumentsUsedInPreparingFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-683": { "value": "
Changes to presentation and prior year adjustments
The prior year comparatives at 31 March 2025 have been restated
as follows:
Segments
In accordance with the requirements of IFRS 8 \u201cOperating Segments\u201d
the Group aligns its segmental disclosures with its internal reporting
to the Group Executive Committee (the Chief Operating Decision
Maker). The reporting of these operating segments is used to
assess operating performance and to make decisions on how to
allocate capital.
During the year to 31 March 2026, reporting to the Group Executive Committee was amended so that SSE Thermal includes Gas Storage; Energy Customer Solutions includes SSE Business Energy and SSE Airtricity; and Corporate unallocated includes the loss on the Group\u2019s joint venture investment in Neos Networks Limited (note 16 ). The segmental results reported within these financial statements have been restated from 1 April 2024 (note 5 ), which had no impact on the consolidated results of the Group in all periods presented. Capital prepayments Due to the long-term nature of capital projects within the Group, a greater proportion of prepayments to suppliers to secure materials and production capacity in advance are extending beyond 12 months. Under the Group\u2019s previous accounting policy, all capital prepayments were shown as current assets. However, the Group has elected to amend its accounting policy for disclosure of capital prepayments to split prepayments between current and non-current maturity. In accordance with IAS 8 \u201cAccounting Policies, Changes in Accounting Estimates and Errors\u201d the balance sheet for the year ended 31 March 2025 has been restated to present \u00a3247.8m of capital prepayments as non-current assets (2026 equivalent: \u00a3372.0m). This change in policy had no impact on net assets, the income statement, statement of cashflows or Alternative Performance Measures of the Group at any reporting date. Deferred income A prior period adjustment has been made to restate deferred income split between current and non-current maturity following incorrect classification at 31 March 2025. Deferred income due after more than one year has increased from \u00a31,247.9m to \u00a31,437.6m (2026 equivalent: from \u00a31,468.6m to \u00a31,658.7m) within non-current \u201cTrade and other payables\u201d; and current \u201cTrade and other payables\u201d has decreased from \u00a32,897.9m to \u00a32,708.2m at 31 March 2025 (2026 equivalent: \u00a33,477.0m to \u00a33,286.9m). This adjustment has no impact on retained earnings, net assets or the consolidated Alternative Performance Measures of the Group, at any reporting date. Alternative Performance Measures \u2013 adjustment for net debt and cash attributable to non-controlling interests and related net finance costs Where external funding is raised by SSE plc and used to fund investment in subsidiaries whose non-controlling interest holders do not contribute capital on a proportionate basis, such as SSEN Transmission, the Group has removed a proportionate share of external debt and related net finance costs to better represent the Group\u2019s underlying economic interest. This refinement represents a change to the derivation of the adjusted debt measure applied in the 31 March 2026 financial statements and comparatives at 31 March 2025 have been restated accordingly. This adjustment has no impact on reported net assets, income statement or statement of cashflows of the Group, at any reporting date. The restatement results in a decrease of Adjusted Net Debt and Hybrid Capital by \u00a3120.0m from \u00a310,186.7m to \u00a310,066.7m, a decrease in Adjusted Net Finance Costs from \u00a3281.0m to \u00a3274.7m, an increase in Adjusted Profit Before Tax from \u00a32,138.2m to \u00a32,144.5m and an increase in Adjusted Earnings per Share by 0.4 pence from 160.9 pence to 161.3 pence. There have been no other changes to the Group\u2019s APMs in the current year. Cash flow statement A prior year restatement has been made to present interest paid of \u00a3260.1m (2026 equivalent: \u00a3243.3m) and interest received of \u00a3155.9m (2026 equivalent: \u00a3180.8m) gross (previously presented net) in the cash flow statement in accordance with the requirements of IAS 7 \u201cStatement of Cash Flows\u201d. This restatement had no impact on net cash from operating activities in the cash flow statement, retained earnings, net assets or the consolidated Alternative Performance Measures of the Group, at any reporting date. ", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-722": { "value": "Changes to presentation and prior year adjustments The prior year comparatives at 31 March 2025 have been restated as follows: Segments In accordance with the requirements of IFRS 8 \u201cOperating Segments\u201d the Group aligns its segmental disclosures with its internal reporting to the Group Executive Committee (the Chief Operating Decision Maker). The reporting of these operating segments is used to assess operating performance and to make decisions on how to allocate capital. During the year to 31 March 2026, reporting to the Group Executive Committee was amended so that SSE Thermal includes Gas Storage; Energy Customer Solutions includes SSE Business Energy and SSE Airtricity; and Corporate unallocated includes the loss on the Group\u2019s joint venture investment in Neos Networks Limited (note 16 ). The segmental results reported within these financial statements have been restated from 1 April 2024 (note 5 ), which had no impact on the consolidated results of the Group in all periods presented. Capital prepayments Due to the long-term nature of capital projects within the Group, a greater proportion of prepayments to suppliers to secure materials and production capacity in advance are extending beyond 12 months. Under the Group\u2019s previous accounting policy, all capital prepayments were shown as current assets. However, the Group has elected to amend its accounting policy for disclosure of capital prepayments to split prepayments between current and non-current maturity. In accordance with IAS 8 \u201cAccounting Policies, Changes in Accounting Estimates and Errors\u201d the balance sheet for the year ended 31 March 2025 has been restated to present \u00a3247.8m of capital prepayments as non-current assets (2026 equivalent: \u00a3372.0m). This change in policy had no impact on net assets, the income statement, statement of cashflows or Alternative Performance Measures of the Group at any reporting date. Deferred income A prior period adjustment has been made to restate deferred income split between current and non-current maturity following incorrect classification at 31 March 2025. Deferred income due after more than one year has increased from \u00a31,247.9m to \u00a31,437.6m (2026 equivalent: from \u00a31,468.6m to \u00a31,658.7m) within non-current \u201cTrade and other payables\u201d; and current \u201cTrade and other payables\u201d has decreased from \u00a32,897.9m to \u00a32,708.2m at 31 March 2025 (2026 equivalent: \u00a33,477.0m to \u00a33,286.9m). This adjustment has no impact on retained earnings, net assets or the consolidated Alternative Performance Measures of the Group, at any reporting date. Alternative Performance Measures \u2013 adjustment for net debt and cash attributable to non-controlling interests and related net finance costs Where external funding is raised by SSE plc and used to fund investment in subsidiaries whose non-controlling interest holders do not contribute capital on a proportionate basis, such as SSEN Transmission, the Group has removed a proportionate share of external debt and related net finance costs to better represent the Group\u2019s underlying economic interest. This refinement represents a change to the derivation of the adjusted debt measure applied in the 31 March 2026 financial statements and comparatives at 31 March 2025 have been restated accordingly. This adjustment has no impact on reported net assets, income statement or statement of cashflows of the Group, at any reporting date. The restatement results in a decrease of Adjusted Net Debt and Hybrid Capital by \u00a3120.0m from \u00a310,186.7m to \u00a310,066.7m, a decrease in Adjusted Net Finance Costs from \u00a3281.0m to \u00a3274.7m, an increase in Adjusted Profit Before Tax from \u00a32,138.2m to \u00a32,144.5m and an increase in Adjusted Earnings per Share by 0.4 pence from 160.9 pence to 161.3 pence. There have been no other changes to the Group\u2019s APMs in the current year. Cash flow statement A prior year restatement has been made to present interest paid of \u00a3260.1m (2026 equivalent: \u00a3243.3m) and interest received of \u00a3155.9m (2026 equivalent: \u00a3180.8m) gross (previously presented net) in the cash flow statement in accordance with the requirements of IAS 7 \u201cStatement of Cash Flows\u201d. This restatement had no impact on net cash from operating activities in the cash flow statement, retained earnings, net assets or the consolidated Alternative Performance Measures of the Group, at any reporting date. 2. New accounting policies and reporting changes The principal accounting policies applied in the preparation of these financial statements are set out below and in the A1 Accompanying Information to the Financial Statements on pages 210 to 218 . 2.1. New standards, amendments and interpretations effective or adopted by the Group During the year ended 31 March 2026, the Group adopted the Lack of Exchangeability amendments to IAS 21 \u201cThe Effects of Changes in Foreign Exchange Rates\u201d. Adoption of the amendment had no impact on the financial statements. There were no other standards, amendments to standards or interpretations relevant to the Group\u2019s operations which were adopted during the year. 2.2. New standards, amendments and interpretations issued, but not yet adopted by the Group Following adoption of IFRS 9 on 1 April 2019, the Group elected to continue to apply IAS 39 for hedge accounting. From 1 April 2026, the Group will adopt the hedge accounting requirements of IFRS 9 to align its hedge accounting more closely with the Group\u2019s risk management objectives. In the period to 31 March 2026, the Group assessed its existing IAS 39 hedging relationships and concluded that those relationships continue to meet the IFRS 9 hedge accounting criteria. These hedging relationships will be designated as continuing hedges upon adoption of IFRS 9. The Group will apply the prospective basis of adoption as permitted by IFRS 9, whereby comparative information is not restated. The impact on the income statement is immaterial. The Group has elected to apply the cost of hedging approach, under which certain elements of the fair value of hedging instruments (such as forward points and currency basis spread) are recognised in other comprehensive income rather than profit or loss. These amounts will be accumulated in a cost of hedge equity reserve within equity and subsequently reclassified to profit or loss in the period the hedged item affects profit or loss. On adoption, the cost of hedge reserve will be \u00a323.5m. There is no impact on total equity as a result of this reclassification. IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d was issued in April 2024 and will be effective for accounting periods beginning on or after 1 January 2027 (1 April 2027 for the Group). The standard replaces IAS 1 \u201cPresentation of Financial Statements\u201d. The new standard does not amend the principles of recognition and measurement and so will not impact the financial results of the Group. However, it will impact the presentation of the consolidated financial statements, in particular the consolidated income statement. The Group is continuing to assess the full impact of adoption of the standard. However, it is expected that the consolidated income statement will be amended to include the new subtotals prescribed in the standard, and the share of profit recognised from equity accounted investments will be classified within investing activities instead of operating activities. It is expected that certain notes to the consolidated financial statements will also be amended to comply with aggregation and disaggregation principles. Amendments to IFRS 9 \u201cFinancial Instruments\u201d and IFRS 7 \u201cFinancial Instruments: Disclosures\u201d in relation to the classification and measurement of financial instruments have been issued. An additional amendment has also been made to both standards in relation to contracts referencing nature-dependent electricity. These amendments will be effective from 1 January 2026 (1 April 2026 for the Group). The amendments will not have a material impact on the Group\u2019s consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-638": { "value": "2. New accounting policies and reporting changes The principal accounting policies applied in the preparation of these financial statements are set out below and in the A1 Accompanying Information to the Financial Statements on pages 210 to 218 . 2.1. New standards, amendments and interpretations effective or adopted by the Group During the year ended 31 March 2026, the Group adopted the Lack of Exchangeability amendments to IAS 21 \u201cThe Effects of Changes in Foreign Exchange Rates\u201d. Adoption of the amendment had no impact on the financial statements. There were no other standards, amendments to standards or interpretations relevant to the Group\u2019s operations which were adopted during the year. 2.2. New standards, amendments and interpretations issued, but not yet adopted by the Group Following adoption of IFRS 9 on 1 April 2019, the Group elected to continue to apply IAS 39 for hedge accounting. From 1 April 2026, the Group will adopt the hedge accounting requirements of IFRS 9 to align its hedge accounting more closely with the Group\u2019s risk management objectives. In the period to 31 March 2026, the Group assessed its existing IAS 39 hedging relationships and concluded that those relationships continue to meet the IFRS 9 hedge accounting criteria. These hedging relationships will be designated as continuing hedges upon adoption of IFRS 9. The Group will apply the prospective basis of adoption as permitted by IFRS 9, whereby comparative information is not restated. The impact on the income statement is immaterial. The Group has elected to apply the cost of hedging approach, under which certain elements of the fair value of hedging instruments (such as forward points and currency basis spread) are recognised in other comprehensive income rather than profit or loss. These amounts will be accumulated in a cost of hedge equity reserve within equity and subsequently reclassified to profit or loss in the period the hedged item affects profit or loss. On adoption, the cost of hedge reserve will be \u00a323.5m. There is no impact on total equity as a result of this reclassification. IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d was issued in April 2024 and will be effective for accounting periods beginning on or after 1 January 2027 (1 April 2027 for the Group). The standard replaces IAS 1 \u201cPresentation of Financial Statements\u201d. The new standard does not amend the principles of recognition and measurement and so will not impact the financial results of the Group. However, it will impact the presentation of the consolidated financial statements, in particular the consolidated income statement. The Group is continuing to assess the full impact of adoption of the standard. However, it is expected that the consolidated income statement will be amended to include the new subtotals prescribed in the standard, and the share of profit recognised from equity accounted investments will be classified within investing activities instead of operating activities. It is expected that certain notes to the consolidated financial statements will also be amended to comply with aggregation and disaggregation principles. Amendments to IFRS 9 \u201cFinancial Instruments\u201d and IFRS 7 \u201cFinancial Instruments: Disclosures\u201d in relation to the classification and measurement of financial instruments have been issued. An additional amendment has also been made to both standards in relation to contracts referencing nature-dependent electricity. These amendments will be effective from 1 January 2026 (1 April 2026 for the Group). The amendments will not have a material impact on the Group\u2019s consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-684": { "value": "
2.1. New standards, amendments and interpretations
effective or adopted by the Group
During the year ended 31 March 2026, the Group adopted the Lack
of Exchangeability amendments to IAS 21 \u201cThe Effects of Changes in
Foreign Exchange Rates\u201d. Adoption of the amendment had no impact
on the financial statements.
There were no other standards, amendments to standards or
interpretations relevant to the Group\u2019s operations which were
adopted during the year.
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-685": { "value": "
2.2. New standards, amendments and interpretations
issued, but not yet adopted by the Group
Following adoption of IFRS 9 on 1 April 2019, the Group elected to
continue to apply IAS 39 for hedge accounting. From 1 April 2026,
the Group will adopt the hedge accounting requirements of IFRS 9
to align its hedge accounting more closely with the Group\u2019s risk
management objectives. In the period to 31 March 2026, the Group
assessed its existing IAS 39 hedging relationships and concluded that
those relationships continue to meet the IFRS 9 hedge accounting
criteria. These hedging relationships will be designated as continuing
hedges upon adoption of IFRS 9.
The Group will apply the prospective basis of adoption as permitted
by IFRS 9, whereby comparative information is not restated. The
impact on the income statement is immaterial.
The Group has elected to apply the cost of hedging approach, under
which certain elements of the fair value of hedging instruments (such
as forward points and currency basis spread) are recognised in other
comprehensive income rather than profit or loss. These amounts will
be accumulated in a cost of hedge equity reserve within equity and
subsequently reclassified to profit or loss in the period the hedged
item affects profit or loss. On adoption, the cost of hedge reserve
will be \u00a323.5m. There is no impact on total equity as a result of
this reclassification.
IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d was
issued in April 2024 and will be effective for accounting periods
beginning on or after 1 January 2027 (1 April 2027 for the Group).
The standard replaces IAS 1 \u201cPresentation of Financial Statements\u201d.
The new standard does not amend the principles of recognition
and measurement and so will not impact the financial results of the
Group. However, it will impact the presentation of the consolidated
financial statements, in particular the consolidated income statement.
The Group is continuing to assess the full impact of adoption of the
standard. However, it is expected that the consolidated income
statement will be amended to include the new subtotals prescribed
in the standard, and the share of profit recognised from equity
accounted investments will be classified within investing activities
instead of operating activities. It is expected that certain notes to the
consolidated financial statements will also be amended to comply
with aggregation and disaggregation principles.
Amendments to IFRS 9 \u201cFinancial Instruments\u201d and IFRS 7 \u201cFinancial
Instruments: Disclosures\u201d in relation to the classification and
measurement of financial instruments have been issued. An additional
amendment has also been made to both standards in relation
to contracts referencing nature-dependent electricity. These
amendments will be effective from 1 January 2026 (1 April 2026 for
the Group). The amendments will not have a material impact on the
Group\u2019s consolidated financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-639": { "value": "
3. Adjusted accounting measures
The Group applies the use of adjusted accounting measures or
Alternative Performance Measures (\u201cAPMs\u201d) throughout the Annual
Report and Financial Statements. These measures enable the
Directors to present the underlying performance of the Group and
its segments to the users of the statements in a consistent and
meaningful manner. The adjustments applied and certain terms such
as Adjusted Operating Profit; Adjusted Earnings Per Share; Adjusted
EBITDA; Adjusted Investment and Capital Expenditure; Adjusted
Investment, Capital and Acquisition Expenditure; and Adjusted Net
Debt and Hybrid Capital are not defined under IFRS and are explained
in more detail below. In addition, the section Alternative Performance
Measures at page 144
provides further context and explanation of
these terms.
3.1 Adjusted measures
The Directors assess the performance of the Group and its reportable
segments based on adjusted measures. These measures are used
for internal performance management and are believed to be
appropriate for explaining underlying performance to users of the
accounts. These measures are also deemed to be the most useful for
ordinary shareholders of the Company and for other stakeholders.
The performance of the reportable segments is reported based on
adjusted profit before interest and tax (Adjusted Operating Profit).
This is reconciled to reported profit before interest and tax by adding
back exceptional items and certain re-measurements (see note 3.2
below), depreciation expense on fair value uplifts, the share of
operating profit attributable to non-controlling interests, adjustments
to the Gas Production decommissioning provision and after the
removal of interest and taxation on profits from equity-accounted
joint ventures and associates.
The performance of the Group is reported based on Adjusted Profit
Before Tax which excludes exceptional items and certain re-
measurements (see note 3.2 below), depreciation expense on
fair value uplifts, the share of profit before tax attributable to non-
controlling interests, adjustments to the Gas Production
decommissioning provision and taxation on profits from equity-
accounted joint ventures and associates.
The Group also uses adjusted earnings before interest, taxation,
depreciation and amortisation (\u201cAdjusted EBITDA\u201d) as an alternative
operating performance measure which acts as a management proxy
for cash generated from operating activities. This does not take into
account the rights and obligations that SSE has in relation to its
equity-accounted joint ventures and associates. This measure
excludes exceptional items and certain re-measurements (see
note 3.2
below), the depreciation charged on fair value uplifts, the
share of EBITDA attributable to non-controlling interests, adjustments
to the Gas Production decommissioning provision, depreciation and
amortisation from equity-accounted joint ventures and associates
and interest and taxation on profits from equity-accounted joint
ventures and associates. For the purpose of calculating the Net Debt
to EBITDA metric referred at page 23
, Adjusted EBITDA is further
adjusted to remove the proportion of adjusted EBITDA from equity-
accounted joint ventures relating to off-balance sheet debt (see
note 5.1(v))
.
The Group\u2019s key performance measure is Adjusted Earnings Per Share
(\u201cAdjusted EPS\u201d), which is based on basic earnings per share before
exceptional items and certain re-measurements (see note 3.2
below), depreciation on fair value uplifts, adjustments to the Gas
Production decommissioning provision, the removal of the interest
on external debt invested in subsidiaries with a non-controlling
interest and after the removal of deferred taxation and certain other
taxation items. Deferred taxation is excluded from the Group\u2019s
Adjusted EPS because of the Group\u2019s significant ongoing capital
investment programme, which means that the deferred tax is unlikely
to reverse. Adjusted profit after tax is presented on a basis consistent
with Adjusted EPS except for the non-inclusion of payments to
holders of hybrid equity.
The financial statements also include an Adjusted Net Debt and
Hybrid Capital measure. This presents financing information on the
basis used for internal liquidity risk management. This measure
excludes obligations due under lease arrangements, the share of net
debt attributable to non-controlling interests (including debt held at
SSE plc level, which is a change in the current year), and includes
cash held and posted as collateral on commodity trading exchanges,
and other deposits with a maturity of more than three months. The
measure represents the capital owed to investors, lenders and equity
holders other than the ordinary shareholders. As with Adjusted
Earnings Per Share, this measure is considered to be of relevance to
the ordinary shareholders of the Group as well as other stakeholders
and interested parties. The impact of the change to the definition of
debt attributable to non-controlling interest holders has been to
increase the adjustment for these items at 31 March 2025 from
\u00a3817.9m to \u00a3937.9m and therefore reduce the Adjusted Net Debt
and Hybrid Capital by \u00a3120.0m from \u00a310,186.7m to \u00a310,066.7m.
Finally, the financial statements include an Adjusted Investment
and Capital Expenditure and an Adjusted Investment, Capital and
Acquisition Expenditure measure. These metrics represent the capital
invested by the Group in projects that are anticipated to provide a
return on investment over future years, or which otherwise support
Group operations and are consistent with internally applied metrics.
They therefore include capital additions to property, plant and
equipment and intangible assets and the Group\u2019s direct funding
of joint venture and associates\u2019 capital projects. The Group has
considered it appropriate to report these values both internally
and externally in this manner due to its use of equity-accounted
investment vehicles to grow the Group\u2019s asset base and to highlight
where the Group is providing funding to the vehicle through either
loans or equity. The Group does not include project funded capital
additions in these metrics, nor does it include other capital invested
in joint ventures and associates. In addition, the Group excludes
additions to its property, plant and equipment funded by customer
contributions, lease additions and additions to intangible
assets associated with allowances and certificates. The Group
also excludes the share of investment and capital expenditure
attributable to non-controlling interests in controlled but not wholly
owned subsidiaries. The Adjusted Investment, Capital and Acquisition
Expenditure measure also includes cash consideration paid by the
Group for business combinations which contribute to growth of the
Group\u2019s capital asset base and are considered to be relevant to the
Group\u2019s strategic objectives. As with Adjusted Earnings Per Share,
these measures are considered to be of relevance to management
and to the ordinary shareholders of the Group as well as to other
stakeholders and interested parties.
Reconciliations from reported measures to adjusted measures along
with further description of the rationale for those adjustments are
included in the Alternative Performance Measures section at
pages 144 to 150
.
Where the Group has referred to an adjusted performance measure
in the financial statements the following sign is presented to denote
this APM.
3.2 Exceptional items and certain re-measurements
Exceptional items are those charges or credits that are considered
unusual by nature and/or scale and of such significance that separate
disclosure is required for the financial statements to be properly
understood. The trigger points for recognition of items as exceptional
items will tend to be non-recurring, although exceptional charges
(or credits) may impact the same asset class or segment over time.
Examples of items that may be considered exceptional include
material asset, investment or business impairment charges; reversals
of historic exceptional impairments; business restructuring and
reorganisation costs relating to strategic change initiatives; significant
realised gains or losses on disposal; unrealised fair value adjustments
on acquisition or disposals; and provisions in relation to significant
disputes and claims.
The Group operates a policy framework for establishing whether
items should be considered exceptional. This framework, which
is reviewed annually, is based on the materiality of the item, by
reference to the Group\u2019s key performance measure of Adjusted
Earnings Per Share. This framework estimates that any qualifying item
greater than \u00a340.0m (2025: \u00a340.0m) will be considered exceptional,
with the exception of any strategic restructuring or transformational
activities or discontinued operations, which will be considered on a
case-by-case basis. The only further exception to this threshold is for
gains or losses on disposal, or divestment of early-stage international
or offshore wind farm development projects within SSE Renewables,
which are considered non-exceptional in line with the Group\u2019s
strategy to generate recurring gains from developer divestments.
Where a qualifying gain arises on a non-cash transaction, the gain
is still treated as exceptional.
Certain re-measurements are re-measurements arising on certain
commodity, interest rate and currency contracts which are
accounted for as held for trading or as fair value hedges in
accordance with the Group\u2019s policy for such financial instruments;
re-measurements on stocks of commodities held at the balance
sheet date; or movements in fair valuation of contracts for difference
not designated as government grants. The amount recorded in the
adjusted results for these contracts is the amount settled in the year
as disclosed in note 24.1
.
This excludes commodity contracts not treated as financial
instruments under IFRS 9 where the contracts are held for the
Group\u2019s own use requirements. The fair value of these contracts
is not recorded and the value associated with the contract is not
recognised until the underlying commodity is delivered.
The impact of changes in corporation tax rates on deferred tax
balances is also included within certain re-measurements.
3.3 Other additional disclosures
As permitted by IAS 1 \u201cPresentation of Financial Statements\u201d, the
Group\u2019s income statement discloses additional information in respect
of joint ventures and associates, exceptional items and certain re-
measurements to aid understanding of the Group\u2019s financial
performance and to present results clearly and consistently.
", "dimensions": { "concept": "sseplc:DisclosureOfAdjustedAccountingMeasures", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-640": { "value": "
4. Accounting judgements and
estimation uncertainty
In the process of applying the Group\u2019s accounting policies,
management is required to make judgements and estimates that will
have a significant effect on the amounts recognised in the financial
statements. Changes in the assumptions underlying the estimates
could result in a significant impact to the financial statements. The
Group\u2019s key accounting judgement and estimation areas are noted
below, with the most significant and material financial judgement
areas that are specifically considered by the Audit Committee
highlighted separately.
The Group has made no changes to its material accounting
judgements and identified no new areas of estimation uncertainty
during the year.
4.1 Significant financial judgements and estimation
uncertainties
The preparation of these financial statements has specifically
considered the following significant financial judgements, some
of which are also areas of estimation uncertainty as noted below.
i. Impairment testing and valuation of certain non-current assets
\u2013 financial judgement and estimation uncertainty
The Group reviews the carrying amounts of its goodwill, other
intangible assets, specific property, plant and equipment and
investment assets to determine whether any impairments or reversal
of impairments to the carrying value of those assets requires to be
recorded. Where an indicator of impairment or impairment reversal
exists, the recoverable amount of those assets is reassessed by
reference to either value in use or fair value less cost to sell
assessments. As well as its goodwill balances, the specific assets
under review in the year ended 31 March 2026 are intangible
development assets in Southern Europe and Japan; specific property,
plant and equipment assets related to Gas Storage; specific onshore
Renewables assets; and the Group\u2019s thermal power station at Great
Island in Ireland. In addition, the Group performed impairment
reviews over the carrying value of its equity investments in the
Dogger Bank Wind Farm joint ventures; Neos Networks Limited;
and Triton Power Holdings Limited.
In conducting its reviews, the Group makes judgements and
estimates determining both the level of cash generating unit (\u201cCGU\u201d)
at which common assets such as goodwill are assessed against, as
well as the estimates and assumptions behind the calculation of
recoverable amount of the respective assets or CGUs.
Changes to the estimates and assumptions on factors such as
regulation and legislation changes (including relevant climate change
related regulation), power, gas, carbon and other commodity prices,
volatility of gas prices, plant running regimes and load factors,
discount rates and other inputs could impact the assessed
recoverable value of assets and CGUs and consequently impact
the Group\u2019s income statement and balance sheet.
Further detail of the calculation basis and key assumptions used in
the impairment reviews, impairment test results and the sensitivity
of these assessments to key assumptions is disclosed at note 15
.
Detail on the accounting policies applied is included in the
Accompanying Information section A1
.
ii. Retirement benefit obligations \u2013 estimation uncertainty
The Group sets its assumptions in relation to the cost of providing
post-retirement benefits after consultation with qualified actuaries.
While these assumptions are believed to be appropriate, a change in
these assumptions would impact the level of the retirement benefit
obligation recorded and the cost to the Group of administering
the schemes.
Further detail of the calculation basis and key assumptions used,
the resulting movements in obligations, and the sensitivity of key
assumptions to the obligation is disclosed at note 23
.
iii. Revenue recognition \u2013 Customers unbilled supply of energy \u2013
estimation uncertainty
Revenue from energy supply activities undertaken by the Group\u2019s
Energy Customer Solutions businesses includes an estimate of the
value of electricity or gas supplied to customers between the date of
the last meter reading and the year end. This estimation comprises
both billed revenue and unbilled revenue and is calculated based on
applying the tariffs and contract rates applicable to customers against
aggregated estimated customer consumption, taking account of
various factors including tariffs, consumption patterns, customer mix,
metering data, operational issues relating to the billings process and
externally notified aggregated volumes supplied to customers from
national settlements bodies.
This unbilled estimation is subject to an internal corroboration
process which compares calculated unbilled volumes to a theoretical
\u201cperfect billing\u201d benchmark measure of unbilled volumes (in GWh and
millions of therms) derived from historical consumption patterns and
aggregated metering data used in industry reconciliation processes.
Unbilled revenue is compared to billings in the period between the
balance sheet date and the finalisation of the financial statements
which has provided evidence of post report date billings and hence
support to the accrual recognised.
Given the requirement of management to apply judgement, the
estimated revenue accrual remains a significant estimate made by
management in preparing the financial statements. A change in the
assumptions underpinning the unbilled calculation would have an
impact on the amount of revenue recognised in any given period.
The sensitivity associated with this judgement factor is disclosed at
note 18
.
iv. Valuation of other receivables \u2013 financial judgement and
estimation uncertainty
The Group holds a \u00a3100m loan note due from OVO Group Limited
(\u201cOvo\u201d) following the disposal of SSE Energy Services on 15 January
2020. The loan is repayable in full by 31 December 2029, carries
interest at 13.25% and is presented cumulative of accrued interest
payments, discounted at 13.25%. At 31 March 2026, the carrying value
(net of expected credit loss provision of \u00a32.0m (2025: \u00a31.8m)) is
\u00a3220.0m (2025: \u00a3193.5m) (see note 18
).
The Group has assessed recoverability of the loan note receivable
and has recognised a provision for expected credit loss in accordance
with the requirements of IFRS 9. The Group has taken appropriate
steps to assess all available information in respect of the recoverability
of the loan note. Procedures included reviewing recent financial
information of Ovo and discussions with Ovo management. While the
carrying value is considered to be appropriate, changes in economic
conditions could lead to a change in the expected credit loss incurred
by the Group in future periods. On 11 May 2026, subsequent to the
balance sheet date, E.On announced the acquisition of Ovo\u2019s Retail
business, subject to regulatory approval. Completion of the
acquisition would result in the principal and accumulated interest
becoming repayable in full. While considered a non-adjusting post
balance sheet event in terms of classification, the Group has
considered the transaction as part of its recoverability assessment.
No changes to the recoverable value were made following
announcement of the transaction.
v. Impact of climate change and the transition to net zero \u2013
financial judgement and estimation uncertainty
Climate change and the transition to net zero have been considered
in the preparation of these financial statements. Where relevant,
assumptions have been applied that are consistent to a Paris-aligned
1.5\u00b0C net zero pathway by 2050. The Group has a clearly articulated
strategy to lead the UK\u2019s transition to clean power and aligns its
investment plans and business activities to that strategy. These plans
continue to be supported by the Group\u2019s Sustainability Financing
Framework, with ten green bonds outstanding at 31 March 2026
and \u00a32bn of export credit agency-backed facilities in place, which
are classified as \u201cGreen Loans\u201d when drawn (see note 21
).
The nature and timing of future climate-related regulation, market
developments and technological change are inherently uncertain and
could have a material impact on the carrying values of the Group\u2019s
assets and liabilities. In preparing these financial statements, the
Group has considered the potential impacts of climate change and
the transition to net zero in the application of accounting judgements
and estimates, including the following areas:
Valuation of property, plant and equipment, and impairment
assessment of goodwill
The Group\u2019s view is that flexible generation capacity, including the
Group\u2019s fleet of CCGT power stations, will continue to play an
essential role in maintaining the security of supply during the
transition to clean power, supporting a system with increasing levels
of intermittent renewable generation. Accordingly, the Group has not
shortened the useful economic lives of its gas-fired-CCGTs fleet,
reflecting their expected role as flexible back-up capacity over the
transition period.
A significant increase in renewable generation capacity in the Group\u2019s
core markets in the UK and Ireland could, in the longer term, result in
periods of oversupply of electricity, potentially placing downward
pressure on achievable power prices for renewable generation assets.
The Group has not assessed that this constitutes an indicator of
impairment at 31 March 2026, as the Group\u2019s baseline investment
case models assume a centrally approved volume of new build
capacity consistent with system requirements and policy objectives
over the lives of the Group\u2019s existing assets. In accordance with
IAS 36 \u201cImpairment of Assets\u201d, the Group performs an annual
impairment test of the goodwill balances associated with its wind
generation portfolio (see note 15.1)
. As part of this, sensitivities to
key assumptions, including power prices, have been considered.
A sensitivity analysis assuming a 10% reduction in power prices,
which could arise in a market with significant new build renewable
capacity, indicated that significant headroom remains relative to the
carrying value of the Group\u2019s wind generating assets.
Valuation of decommissioning provisions
The Group recognises decommissioning provisions in respect of its
Renewable and Thermal generation assets and retained 60% share
of the decommissioning obligations relating to its disposed Gas
Production business. The Group considered the impacts of climate
change and the transition to clean power in estimating these
provisions. Given the essential back-up role thermal generation assets
are expected to play during the transition period, no change to
accelerate decommissioning timelines has been assumed at 31 March
2026. Similarly, the Group does not expect changes in weather
patterns or increased levels of new wind generation capacity to bring
forward the decommissioning of the Group\u2019s wind farm portfolio.
The discounted share of the Gas Production provision is \u00a3191.1m
(2025: \u00a3201.6m). At 31 March 2026, the impact of discounting of this
retained provision is \u00a3106.5m (2025: \u00a380.8m), which is expected
to be recognised across the period to 31 March 2044. If the
decommissioning activity was accelerated due to changes in
legislation, the costs of unwinding the discounting of the provision
would be recognised earlier.
Defined benefit scheme assets
The Group holds defined benefit pension scheme assets at 31 March
2026 which could be impacted by climate-related risks. The trustees
of the schemes have a long-term investment strategy that seeks to
reduce investment risk as and when appropriate and takes into
consideration the impact of climate-related risk.
Going Concern and viability statement
The implications of near-term climate-related risks have been
considered in the Group\u2019s Going Concern assessment and viability
statement assessment.
4.2 Accounting judgements and estimation uncertainties
\u2013 changes from prior year
There were no changes to accounting judgements and estimation
uncertainties during the year.
4.3 Other areas of estimation uncertainty
Decommissioning costs
The calculation of the Group\u2019s decommissioning provisions involves
the estimation of quantum and timing of cash flows to settle the
obligation. The Group engages independent valuation experts to
estimate the cost of decommissioning its Renewable, Thermal and
Gas Storage assets every three years based on current technology
and prices. The last independent assessment for the majority of the
Group\u2019s Renewable and Thermal generation assets was performed in
the prior year to 31 March 2025. The last formal assessment for Gas
Storage assets was performed in the year to 31 March 2026. Retained
decommissioning costs in relation to the disposed Gas Production
business are periodically agreed with the field operators and reflect
the latest expected economic production lives of the fields.
The dates for settlement of future decommissioning costs are
uncertain, particularly for the disposed Gas Production business
where reassessment of gas and liquids reserves and fluctuations
in commodity prices can lengthen or shorten the field life.
Further detail on the assumptions applied, including expected
decommissioning dates, and movement in decommissioning costs
during the year are disclosed at note 20
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-641": { "value": "
5. Segmental information
IFRS 8 requires operating segments to be identified based on the Group\u2019s internal reporting to its Chief Operating Decision Maker to assess
operating performance and to make decisions on how to allocate capital. The Group\u2019s Chief Operating Decision Maker has been identified as
the Group Executive Committee. The changes to the Group\u2019s segments in the year are explained in note 1.2
and reflect how operating
performance is reported to the Group Executive Committee for SSE Thermal (previously reported as SSE Thermal and Gas Storage) and Energy
Customer Solutions (previously reported as SSE Business Energy and SSE Airtricity). Comparative information has been re-presented to reflect
the change to these segments. The Group\u2019s Corporate unallocated segment is the Group\u2019s residual corporate central costs which are not
allocated to individual segments and includes the contribution from its Enerveo business and the Group\u2019s joint venture investment in Neos
Networks Limited \u2013 neither of which are reported separately to the Group Executive Committee.
The types of products and services from which each reportable segment derives its revenues are:
Reported
Business Area
Segments
Description
Transmission SSEN The economically regulated high voltage transmission of electricity from generating plant in the North of
Transmission Scotland to the distribution network or to interconnected transmission networks. Revenue earned from
constructing, maintaining and renovating the transmission network is determined in accordance with the
regulatory licence, based on an Ofgem approved revenue model and is recognised as charged to National Grid.
The revenue earned from other transmission services such as generator plant connections is recognised in line
with delivery of that service over the expected contractual period and at the contracted rate. On 25 November
2022 the Group sold a 25.0% non-controlling interest in this business to the Ontario Teachers\u2019 Pension Plan.
Distribution SSEN The economically regulated lower voltage distribution of electricity to customer premises in the North of
Distribution Scotland and the South of England. Revenue earned from delivery of electricity supply to customers is
recognised based on the volume of electricity distributed to those customers and the set customer tariff. The
revenue earned from other distribution services such as domestic customer connections is recognised in line
with delivery of that service over the expected contractual period and at the contracted rate.
Renewables SSE The generation of electricity from renewable sources, such as onshore and offshore wind farms and run of river
Renewables and pumped storage hydro assets primarily in the UK and Ireland, and the optimisation and trading of Battery
Energy Storage Systems capacity. This segment also includes the development of wind assets in Japan and The
Netherlands; solar assets in Poland; and the development of wind, solar and battery opportunities in the UK and
Southern European markets including Spain, Italy, France and Greece. Revenue from physical generation of
electricity in Great Britain is sold to SSE Energy Markets and in Ireland is sold to the Airtricity business in Energy
Customer Solutions and is recognised as generated, based on the contracted or market price at the time of
delivery. Revenue from national support schemes (such as Renewable Obligation Certificates or the Capacity
Market in Great Britain or REFIT in Ireland) may either be recognised in line with electricity being physically
generated or over the contractual period, depending on the underlying performance obligation.
SSE Thermal
SSE Thermal
The generation of electricity from flexible generation plants including CCGTs in the UK and Ireland and the
Group\u2019s interests in multifuel assets in the UK. Revenue from physical generation of electricity in Great Britain
and Ireland is sold to SSE Energy Markets and is recognised as generated, based on the contract or spot price at
the time of delivery. Revenue from support schemes (such as Capacity Market) and ancillary generation services
may either be recognised in line with electricity being physically generated or over the contractual period,
depending on the underlying performance obligation. The operation of Gas Storage facilities in Great Britain,
which utilise capacity to optimise trading opportunity associated with the assets. Contribution arising from
trading activities is recognised as realised based on executed trades or the withdrawal of gas from caverns.
Following the change in segmental reporting noted at note 1.2
, SSE Thermal comprises the Group\u2019s Thermal
Generation and Gas Storage activities which were previously reported separately.
Energy Energy The supply of electricity and gas to business customers in Great Britain and the supply of electricity, gas and
Customer Customer energy related services to residential and business customers in the Republic of Ireland and Northern Ireland.
Solutions Solutions Activities also include low carbon solutions activity; behind-the-meter funded solar and battery solutions; equity investment in the Source EV joint venture; private electric networks and heat network activities. Revenue
earned from the supply of energy is recognised in line with the volume delivered to the customer, based on
actual and estimated volumes, and reflecting the applicable customer tariff after deductions or discounts and revenue earned from energy related services may either be recognised over the expected contractual period or
following performance of the service, depending on the underlying performance obligation.
Following the change in segmental reporting noted at note 1.2
, Energy Customer Solutions comprises the
Group\u2019s SSE Business Energy and SSE Airtricity activities which were previously reported separately.
SSE Energy SSE Energy The provision of a route to market for the Group\u2019s Renewable and Thermal generation businesses and
Markets Markets commodity procurement for the Group\u2019s energy supply businesses and proprietary trading in line with the
Group\u2019s stated hedging and risk management policies. Revenue from physical sales of electricity, gas and other
commodities is recognised as supplied to either the national settlements body or the customer, based on
either the spot price at the time of delivery or trade price where that trade is eligible for \u201cown use\u201d designation.
The sale of commodity optimisation trades is presented net in cost of sales alongside purchase commodity
optimisation trades.
As referred to in note 3 , the internal measure of profit reported to the Group Executive Committee is Adjusted Profit Before Interest and Tax
or Adjusted Operating Profit which is arrived at before exceptional items, the impact of financial instruments measured under IFRS 9, share of
profits attributable to non-controlling interests, adjustments to the Gas Production decommissioning provision, the impact of depreciation on
fair value uplifts and after the removal of taxation and interest on profits from joint ventures and associates.
Analysis of revenue, operating profit, capital expenditure and earnings before interest, taxation, depreciation and amortisation (\u201cEBITDA\u201d) by
segment is provided on the following pages. Revenue and profit before taxation arise primarily from operations within the UK and Ireland.
5.1 Segmental information disclosure
(i) Revenue by segment
(restated
(ii)
)
Reported Inter-segment Segment Reported Inter-segment Segment
revenue
revenue
(i)
revenue revenue
revenue
(i)
revenue
2026 2026 2026 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,210.3
\u2013
1,210.3
807.0
\u2013
807.0
SSEN Distribution
1,116.5
38.6
1,155.1
1,513.6
66.9
1,580.5
SSE Renewables
412.0
1,167.6
1,579.6
354.9
1,243.8
1,598.7
SSE Thermal
(ii)
669.8
4,417.9
5,087.7
650.6
4,556.7
5,207.3
Energy Customer Solutions
(ii)
4,704.7
196.5
4,901.2
4,601.5
239.3
4,840.8
SSE Energy Markets:
Gross trading
18,732.1
5,729.1
24,461.2
16,542.4
6,074.6
22,617.0
Optimisation trades
(16,797.0)
(192.8)
(16,989.8)
(14,547.0)
36.8
(14,510.2)
SSE Energy Markets
1,935.1
5,536.3
7,471.4
1,995.4
6,111.4
8,106.8
Corporate unallocated
138.1
347.4
485.5
208.9
294.5
503.4
Total SSE Group
10,186.5
11,704.3
21,890.8
10,131.9
12,512.6
22,644.5
(i) Significant inter-segment revenue is derived from the sale of power and stored gas from SSE Renewables and SSE Thermal to SSE Energy Markets; use of system income received by SSEN
Distribution from Energy Customer Solutions; Energy Customer Solutions provides internal heat and light power supplies to other Group companies; SSE Energy Markets provides power,
gas and other commodities to Energy Customer Solutions; and Corporate unallocated provides corporate and infrastructure services to all segments as well as third parties. All are provided
at arm\u2019s length.
(ii) The comparative segment revenue has been restated to combine Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy
(2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m).
Disaggregation of revenue
Revenue from contracts with customers can be disaggregated by reported segment, by major service lines and by timing of revenue
recognition as follows:
Revenue from contracts with customers
Goods or services transferred
Goods or services transferred over time at a point in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy revenue Gas storage customers revenue Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,184.9
\u2013
\u2013
21.3
\u2013
4.1
\u2013
1,210.3
\u2013
1,210.3
SSEN Distribution
1,040.6
\u2013
\u2013
18.3
\u2013
32.4
\u2013
1,091.3
25.2
1,116.5
SSE Renewables
\u2013
126.3
\u2013
103.4
179.7
2.6
\u2013
412.0
\u2013
412.0
SSE Thermal
22.7
604.8
2.8
6.2
\u2013
16.1
15.6
668.2
1.6
669.8
Energy Customer Solutions
2.9
4,626.0
\u2013
\u2013
\u2013
75.6
\u2013
4,704.5
0.2
4,704.7
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,624.3
310.8
\u2013
1,935.1
\u2013
1,935.1
Corporate unallocated
\u2013
\u2013
\u2013
122.5
\u2013
14.4
\u2013
136.9
1.2
138.1
Total SSE Group
2,251.1
5,357.1
2.8
271.7
1,804.0
456.0
15.6
10,158.3
28.2
10,186.5
(restated
(i)
)
Revenue from contracts with customers
Goods or services transferred at a point
Goods or services transferred over time in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy Gas storage revenue customers revenue Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
783.0
\u2013
\u2013
21.4
\u2013
\u2013
2.6
807.0
\u2013
807.0
SSEN Distribution
1,423.0
\u2013
\u2013
15.4
\u2013
\u2013
21.7
1,460.1
53.5
1,513.6
SSE Renewables
\u2013
97.1
\u2013
121.1
134.4
\u2013
2.3
354.9
\u2013
354.9
SSE Thermal
(i)
21.1
583.3
2.8
5.6
\u2013
17.6
11.6
642.0
8.6
650.6
Energy Customer Solutions
(i)
1.8
4,550.6
0.4
\u2013
\u2013
\u2013
37.4
4,590.2
11.3
4,601.5
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,815.1
\u2013
180.3
1,995.4
\u2013
1,995.4
Corporate unallocated
\u2013
\u2013
\u2013
187.1
\u2013
\u2013
21.8
208.9
\u2013
208.9
Total SSE Group
2,228.9
5,231.0
3.2
350.6
1,949.5
17.6
277.7
10,058.5
73.4
10,131.9
(i) The comparative has been restated to combine disaggregation of revenue of Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE
Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m).
Included within trade and other receivables (note 18 ) is \u00a3547.2m (2025: \u00a3521.1m) of unbilled energy income. Included within trade and other
payables (note 19
) is \u00a3345.0m (2025: \u00a3292.2m) of contract related liabilities. Contract related assets reflect the Group\u2019s right to consideration
in exchange for goods or services that have transferred to the customer, and contract related liabilities reflect the Group\u2019s obligation to transfer
future goods or services for which the Group has already received consideration.
The Group has not disclosed information related to the transaction price allocated to remaining performance obligations on the basis that the
Group\u2019s contracts either have an original expected duration of less than one year, or permit the Group to recognise revenue as invoiced.
Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
(ii) Operating profit/(loss) by segment
2026
Adjusted
operating Before
profit/(loss) Depreciation Joint venture/ Adjustments to exceptional Exceptional
reported to the expense associate share Gas Production items and items and
Board on fair value of interest decommissioning Non-controlling certain re- certain re-
APM uplifts and tax provision interests measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
562.6
\u2013
\u2013
\u2013
187.5
750.1
\u2013
750.1
SSEN Distribution
335.3
\u2013
\u2013
\u2013
\u2013
335.3
(38.4)
296.9
SSE Renewables
1,076.4
(19.6)
(187.9)
\u2013
(0.3)
868.6
(143.3)
725.3
SSE Thermal
195.4
(0.7)
(19.2)
\u2013
\u2013
175.5
67.5
243.0
Energy Customer Solutions
136.9
\u2013
0.7
\u2013
\u2013
137.6
(1.4)
136.2
SSE Energy Markets
43.2
\u2013
\u2013
\u2013
\u2013
43.2
(189.0)
(145.8)
Corporate unallocated
(113.2)
\u2013
(0.5)
12.6
\u2013
(101.1)
(15.7)
(116.8)
Total SSE Group
2,236.6
(20.3)
(206.9)
12.6
187.2
2,209.2
(320.3)
1,888.9
The Adjusted Operating Profit of the Group is reported after removal of the Group\u2019s share of interest, fair value movements on operating
derivatives, the depreciation charged on fair value uplifts and tax from joint ventures and associates, adjustments to the Gas Production
decommissioning provision, operating profit from non-controlling interests and after adjusting for exceptional items and certain re-
measurements (note 7
).
The Group\u2019s share of operating profit from joint ventures and associates has been recognised in the SSE Renewables, SSE Thermal, Energy
Customer Solutions and Corporate segments.
2025 (restated
(i)
)
Adjusted Before
operating profit Depreciation Joint venture/ Adjustments to exceptional Exceptional
reported to the expense associate share Gas Production items and items and
Board on fair value of interest decommissioning Non-controlling certain re- certain re-
APM uplifts and tax provision interests measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
322.5
\u2013
\u2013
\u2013
107.5
430.0
\u2013
430.0
SSEN Distribution
736.0
\u2013
\u2013
\u2013
\u2013
736.0
\u2013
736.0
SSE Renewables
1,038.8
(19.7)
(155.3)
\u2013
(0.8)
863.0
(245.4)
617.6
SSE Thermal
(i)
211.4
(0.4)
(6.0)
\u2013
\u2013
205.0
(9.7)
195.3
Energy Customer
Solutions
(i)
192.1
\u2013
(0.9)
\u2013
\u2013
191.2
(2.0)
189.2
SSE Energy Markets
30.0
\u2013
\u2013
\u2013
\u2013
30.0
(72.9)
(42.9)
Corporate unallocated
(i)
(111.6)
\u2013
(11.1)
17.9
\u2013
(104.8)
(58.2)
(163.0)
Total SSE Group
2,419.2
(20.1)
(173.3)
17.9
106.7
2,350.4
(388.2)
1,962.2
(i) The comparative operating profit/(loss) by segment information has been restated to aggregate the adjusted operating result of Gas Storage (2025: \u00a337.1m loss) and SSE Thermal
(2025: \u00a3248.5m) into SSE Thermal (2025: \u00a3211.4m), SSE Business Energy (2025: \u00a332.7m) and SSE Airtricity (2025: \u00a3159.4m) into Energy Customer Solutions (2025: \u00a3192.1m) and Neos
Networks (2025: \u00a322.2m loss) into Corporate unallocated. The reported operating profit by segment has been similarly restated to aggregate Gas Storage (2025: \u00a345.5m loss) and SSE
Thermal (2025: \u00a3240.8m) into SSE Thermal (2025: \u00a3195.3m), SSE Business Energy (2025: \u00a332.2m) and SSE Airtricity (2025: \u00a3157.0m) into Energy Customer Solutions (2025: \u00a3189.2m)
and Neos Networks (2025: \u00a333.3m loss) into Corporate unallocated.
(iii) Capital and investment expenditure by segment
Capital additions
Capital additions Capital additions to property,
Capital additions to property, to intangible plant and
to intangible plant and assets equipment
assets equipment 2025 2025
2026 2026 \u00a3m \u00a3m
\u00a3m \u00a3m
(restated
(i)
)
(restated
(i)
)
SSEN Transmission
31.1
2,272.9
20.3
1,253.8
SSEN Distribution
39.8
1,012.3
35.8
743.9
SSE Renewables
165.0
408.0
291.3
545.8
SSE Thermal
(i)
43.7
186.0
56.9
139.3
Energy Customer Solutions
(i)
27.9
11.5
36.0
33.5
SSE Energy Markets
484.5
\u2013
585.1
\u2013
Corporate unallocated
5.2
92.8
20.1
75.2
Total SSE Group
797.2
3,983.5
1,045.5
2,791.5
Increase in prepayments related to capital expenditure
\u2013
4 6 8 . 1
\u2013
2 5 4 . 9
Government funded additions
\u2013
4 1 . 7
\u2013
55.7
Decrease/(increase) in trade payables related to capital expenditure
\u2013
3 . 8
\u2013
(122.8)
Customer or third party funded additions
\u2013
(215.7)
\u2013
( 1 6 3 . 4 )
Lease asset additions
\u2013
( 9 3 . 3 )
\u2013
(126.7)
Less non-cash items:
Allowances and certificates
(235.9)
\u2013
(335.7)
\u2013
Property, plant and equipment
\u2013
( 4 1 . 1 )
\u2013
\u2013
Net cash outflow
561.3
4,147.0
709.8
2,689.2
(i)
The comparatives have been restated to aggregate capital additions to intangible assets of SSE Business Energy (2025: \u00a328.9m) and SSE Airtricity (2025: \u00a37.1m) into Energy Customer
Solutions (2025: \u00a336.0m) and capital additions to property, plant and equipment of Gas Storage (2025: \u00a30.7m) and SSE Thermal (2025: \u00a3138.6m) into SSE Thermal (2025: \u00a3139.3m).
Capital additions do not include assets acquired in acquisitions, assets acquired under leases or assets constructed that the Group were
reimbursed by way of a government grant. During the year the Group received reimbursements totalling \u00a341.7m (2025: \u00a355.7m) from
government bodies relating to construction of a temporary generation plant at the Group\u2019s Tarbert site, which have been presented separately
on the cashflow statement. Capital additions to intangible assets includes the cash purchase of emissions allowances and certificates (2026:
\u00a3264.7m; 2025: \u00a3268.0m). These purchases are presented in the cash flow statement within operating activities as they relate to the obligation
to surrender the allowances and certificates in line with operating volumes of emissions. Other non-cash additions comprise self-generated
renewable obligation certificates and asset additions from the acquisition of a further 50% equity interest in Lenalea Wind Farm DAC, since the
acquisition is shown separately in the cashflow statement.
No segmental analysis of assets is required to be disclosed as this information is not presented to the Group Executive Committee.
Capital Adjusted
additions to Capital Investment and
Capital additions property, investment Share of Capital
to intangible plant and relating to joint Allowances Customer non- Expenditure
assets equipment ventures and and funded Lease asset controlling 2026
2026 2026
associates
(i)
certificates
(ii)
additions
(iii)
additions
(iv)
interests
(v)
APM
At 31 March 2026 \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
31.1
2,272.9
\u2013
\u2013
\u2013
(13.9)
(572.5)
1,717.6
SSEN Distribution
39.8
1,012.3
\u2013
\u2013
(199.9)
(0.4)
\u2013
851.8
SSE Renewables
165.0
408.0
183.5
\u2013
\u2013
(15.5)
(2.0)
739.0
SSE Thermal
43.7
186.0
\u2013
(16.7)
(15.3)
(0.2)
\u2013
197.5
Energy Customer Solutions
27.9
11.5
5.5
(9.6)
(0.5)
\u2013
\u2013
34.8
SSE Energy Markets
484.5
\u2013
\u2013
(474.3)
\u2013
\u2013
\u2013
10.2
Corporate unallocated
5.2
92.8
\u2013
\u2013
\u2013
(63.3)
\u2013
34.7
Total SSE Group
797.2
3,983.5
189.0
(500.6)
(215.7)
(93.3)
(574.5)
3,585.6
(i) Represents equity or debt funding provided to joint ventures or associates in relation to capital expenditure projects.
(ii) Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased renewable obligations certificates and are not included in the Group\u2019s Capital
Expenditure and Investment alternative performance measure.
(iii) Represents removal of additions to electricity and other networks funded by customer or third party contributions.
(iv) Represents removal of additions in respect of right of use assets recognised on the commencement date of a lease arrangement.
(v) Represents the share of capital additions attributable to non-controlling interests.
(restated
(i)
)
Capital Adjusted
additions to Capital Investment and
Capital additions property, investment Share of Capital
to intangible plant and relating to joint Allowances Customer non- Expenditure
assets equipment ventures and and funded Lease asset controlling 2025
2025 2025 associates certificates additions additions interests APM
At 31 March 2025 \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
20.3
1,253.8
\u2013
\u2013
\u2013
(2.8)
(317.8)
953.5
SSEN Distribution
35.8
743.9
\u2013
\u2013
(143.3)
(0.6)
\u2013
635.8
SSE Renewables
291.3
545.8
227.8
\u2013
\u2013
(60.1)
(3.0)
1,001.8
SSE Thermal
(i)
56.9
139.3
31.3
(27.3)
(16.2)
(0.2)
\u2013
183.8
Energy Customer
Solutions
(i)
36.0
33.5
15.1
\u2013
(3.9)
(0.7)
\u2013
80.0
SSE Energy Markets
585.1
\u2013
\u2013
(576.4)
\u2013
\u2013
\u2013
8.7
Corporate unallocated
20.1
75.2
13.8
\u2013
\u2013
(62.3)
\u2013
46.8
Total SSE Group
1,045.5
2,791.5
288.0
(603.7)
(163.4)
(126.7)
(320.8)
2,910.4
(i)
The comparatives have been restated, as noted above for the capital additions to intangible assets and capital additions to property plant and equipment.
(iv) Items included in operating profit/(loss) by segment
Depreciation/impairment on property,
plant and equipment
Amortisation/impairment of intangible assets
Before Before
exceptional Exceptional exceptional Exceptional
charges charges/(credits) Total charges charges Total
2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
178.6
\u2013
178.6
11.7
\u2013
11.7
SSEN Distribution
220.4
\u2013
220.4
15.7
\u2013
15.7
SSE Renewables
199.7
155.8
355.5
16.4
\u2013
16.4
SSE Thermal
86.2
(48.5)
37.7
2.8
4.2
7.0
Energy Customer Solutions
2.8
\u2013
2.8
36.3
\u2013
36.3
SSE Energy Markets
\u2013
\u2013
\u2013
9.2
\u2013
9.2
Corporate unallocated
68.7
\u2013
68.7
30.8
\u2013
30.8
Total SSE Group
756.4
107.3
863.7
122.9
4.2
127.1
(restated
(i)
)
Depreciation/impairment on property,
plant and equipment
Amortisation/impairment of intangible assets
Before Before
exceptional Exceptional exceptional Exceptional
charges charges Total charges charges Total
2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
142.8
\u2013
142.8
8.3
\u2013
8.3
SSEN Distribution
199.3
\u2013
199.3
14.9
\u2013
14.9
SSE Renewables
184.1
\u2013
184.1
18.6
249.5
268.1
SSE Thermal
(i)
88.4
\u2013
88.4
2.0
\u2013
2.0
Energy Customer Solutions
(i)
3.1
0.5
3.6
29.1
\u2013
29.1
SSE Energy Markets
\u2013
\u2013
\u2013
6.8
\u2013
6.8
Corporate unallocated
49.6
6.7
56.3
29.1
24.3
53.4
Total SSE Group
667.3
7.2
674.5
108.8
273.8
382.6
(i) The comparatives have been restated to combine Gas Storage and SSE Thermal into SSE Thermal and SSE Airtricity and SSE Business Energy into Energy Customer Solutions
(v) Earnings before interest, taxation, depreciation and amortisation (\u201cEBITDA\u201d)
Adjusted Depreciation/
operating impairment/ Joint venture/ Share of non-
profit/(loss) amortisation associate share controlling
reported to the before of depreciation interest
Board Depreciation exceptional and Release of depreciation
(note 5.1(ii)) expense on fair charges amortisation deferred income and Adjusted EBITDA
APM value uplifts (note 5.1(iv)) (note 16.4) (note 6) amortisation APM
2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
562.6
\u2013
190.3
\u2013
(2.4)
(47.6)
702.9
SSEN Distribution
335.3
\u2013
236.1
\u2013
(9.3)
\u2013
562.1
SSE Renewables
1,076.4
(19.6)
216.1
137.0
(0.1)
\u2013
1,409.8
SSE Thermal
195.4
(0.7)
89.0
34.8
\u2013
\u2013
318.5
Energy Customer Solutions
136.9
\u2013
39.1
1.2
(0.8)
\u2013
176.4
SSE Energy Markets
43.2
\u2013
9.2
\u2013
\u2013
\u2013
52.4
Corporate unallocated
(113.2)
\u2013
99.5
\u2013
(0.5)
\u2013
(14.2)
Total SSE Group
2,236.6
(20.3)
879.3
173.0
(13.1)
(47.6)
3,207.9
Note that the Group\u2019s Net Debt to EBITDA metric is derived after removing the proportionate EBITDA from Beatrice, Seagreen and Dogger Bank
A debt-financed joint ventures. This adjustment is \u00a3157.4m (2025: \u00a3153.3m) resulting in EBITDA for inclusion in the Net Debt to EBITDA metric
of \u00a33,050.5m (2025: \u00a33,196.0m).
For 31 March 2026 the \u00a3879.3m (2025: \u00a3776.1m) combined depreciation, impairment and amortisation charges included non-exceptional
impairments net of reversals totalling \u00a312.7m (2025: \u00a320.7m).
(restated
(i)
)
Adjusted Depreciation/
operating impairment/
profit/(loss) amortisation Joint venture/ Share of non-
reported to the before associate share controlling
Board Depreciation exceptional of depreciation Release of interest
(note 5.1(ii)) expense on fair charges and amortisation deferred income depreciation and Adjusted EBITDA
APM value uplifts (note 5.1(iv)) (note 16.4) (note 6) amortisation APM
2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
322.5
\u2013
151.1
\u2013
(2.3)
(37.8)
433.5
SSEN Distribution
736.0
\u2013
214.2
\u2013
(10.8)
\u2013
939.4
SSE Renewables
1,038.8
(19.7)
202.7
132.5
\u2013
\u2013
1,354.3
SSE Thermal
(i)
211.4
(0.4)
90.4
42.9
\u2013
\u2013
344.3
Energy Customer Solutions
(i)
192.1
\u2013
32.2
1.3
(0.5)
\u2013
225.1
SSE Energy Markets
30.0
\u2013
6.8
\u2013
\u2013
\u2013
36.8
Corporate unallocated
(i)
(111.6)
\u2013
78.7
49.3
(0.5)
\u2013
15.9
Total SSE Group
2,419.2
(20.1)
776.1
226.0
(14.1)
(37.8)
3,349.3
(i)
The comparatives have been restated to combine the adjusted EBITDA of Gas Storage (2025: \u00a336.3m loss) and SSE Thermal (2025: \u00a3380.6m) into SSE Thermal (2025: \u00a3344.3m); SSE
Business Energy (2025: \u00a358.2m) and SSE Airtricity (2025: \u00a3166.9m) into Energy Customers Solutions (2025: \u00a3225.1m); and Neos Networks (2025: \u00a327.1m) and Corporate unallocated
(2025: \u00a311.2m (loss)) into Corporate unallocated (2025: \u00a315.9m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-686": { "value": "5.1 Segmental information disclosure (i) Revenue by segment
(restated
(ii)
)
Reported Inter-segment Segment Reported Inter-segment Segment
revenue
revenue
(i)
revenue revenue
revenue
(i)
revenue
2026 2026 2026 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,210.3
\u2013
1,210.3
807.0
\u2013
807.0
SSEN Distribution
1,116.5
38.6
1,155.1
1,513.6
66.9
1,580.5
SSE Renewables
412.0
1,167.6
1,579.6
354.9
1,243.8
1,598.7
SSE Thermal
(ii)
669.8
4,417.9
5,087.7
650.6
4,556.7
5,207.3
Energy Customer Solutions
(ii)
4,704.7
196.5
4,901.2
4,601.5
239.3
4,840.8
SSE Energy Markets:
Gross trading
18,732.1
5,729.1
24,461.2
16,542.4
6,074.6
22,617.0
Optimisation trades
(16,797.0)
(192.8)
(16,989.8)
(14,547.0)
36.8
(14,510.2)
SSE Energy Markets
1,935.1
5,536.3
7,471.4
1,995.4
6,111.4
8,106.8
Corporate unallocated
138.1
347.4
485.5
208.9
294.5
503.4
Total SSE Group
10,186.5
11,704.3
21,890.8
10,131.9
12,512.6
22,644.5
(i) Significant inter-segment revenue is derived from the sale of power and stored gas from SSE Renewables and SSE Thermal to SSE Energy Markets; use of system income received by SSEN Distribution from Energy Customer Solutions; Energy Customer Solutions provides internal heat and light power supplies to other Group companies; SSE Energy Markets provides power, gas and other commodities to Energy Customer Solutions; and Corporate unallocated provides corporate and infrastructure services to all segments as well as third parties. All are provided at arm\u2019s length. (ii) The comparative segment revenue has been restated to combine Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Disaggregation of revenue Revenue from contracts with customers can be disaggregated by reported segment, by major service lines and by timing of revenue recognition as follows:
Revenue from contracts with customers
Goods or services transferred
Goods or services transferred over time at a point in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy revenue Gas storage customers revenue Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,184.9
\u2013
\u2013
21.3
\u2013
4.1
\u2013
1,210.3
\u2013
1,210.3
SSEN Distribution
1,040.6
\u2013
\u2013
18.3
\u2013
32.4
\u2013
1,091.3
25.2
1,116.5
SSE Renewables
\u2013
126.3
\u2013
103.4
179.7
2.6
\u2013
412.0
\u2013
412.0
SSE Thermal
22.7
604.8
2.8
6.2
\u2013
16.1
15.6
668.2
1.6
669.8
Energy Customer Solutions
2.9
4,626.0
\u2013
\u2013
\u2013
75.6
\u2013
4,704.5
0.2
4,704.7
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,624.3
310.8
\u2013
1,935.1
\u2013
1,935.1
Corporate unallocated
\u2013
\u2013
\u2013
122.5
\u2013
14.4
\u2013
136.9
1.2
138.1
Total SSE Group
2,251.1
5,357.1
2.8
271.7
1,804.0
456.0
15.6
10,158.3
28.2
10,186.5
(restated
(i)
)
Revenue from contracts with customers
Goods or services transferred at a point
Goods or services transferred over time in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy Gas storage revenue customers revenue Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
783.0
\u2013
\u2013
21.4
\u2013
\u2013
2.6
807.0
\u2013
807.0
SSEN Distribution
1,423.0
\u2013
\u2013
15.4
\u2013
\u2013
21.7
1,460.1
53.5
1,513.6
SSE Renewables
\u2013
97.1
\u2013
121.1
134.4
\u2013
2.3
354.9
\u2013
354.9
SSE Thermal
(i)
21.1
583.3
2.8
5.6
\u2013
17.6
11.6
642.0
8.6
650.6
Energy Customer Solutions
(i)
1.8
4,550.6
0.4
\u2013
\u2013
\u2013
37.4
4,590.2
11.3
4,601.5
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,815.1
\u2013
180.3
1,995.4
\u2013
1,995.4
Corporate unallocated
\u2013
\u2013
\u2013
187.1
\u2013
\u2013
21.8
208.9
\u2013
208.9
Total SSE Group
2,228.9
5,231.0
3.2
350.6
1,949.5
17.6
277.7
10,058.5
73.4
10,131.9
(i) The comparative has been restated to combine disaggregation of revenue of Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Included within trade and other receivables (note 18 ) is \u00a3547.2m (2025: \u00a3521.1m) of unbilled energy income. Included within trade and other payables (note 19 ) is \u00a3345.0m (2025: \u00a3292.2m) of contract related liabilities. Contract related assets reflect the Group\u2019s right to consideration in exchange for goods or services that have transferred to the customer, and contract related liabilities reflect the Group\u2019s obligation to transfer future goods or services for which the Group has already received consideration. The Group has not disclosed information related to the transaction price allocated to remaining performance obligations on the basis that the Group\u2019s contracts either have an original expected duration of less than one year, or permit the Group to recognise revenue as invoiced. Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
", "dimensions": { "concept": "ifrs-full:InformationAboutRelationshipBetweenDisclosureOfDisaggregatedRevenueFromContractsWithCustomersAndRevenueInformationForReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-723": { "value": "(i) Revenue by segment
(restated
(ii)
)
Reported Inter-segment Segment Reported Inter-segment Segment
revenue
revenue
(i)
revenue revenue
revenue
(i)
revenue
2026 2026 2026 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,210.3
\u2013
1,210.3
807.0
\u2013
807.0
SSEN Distribution
1,116.5
38.6
1,155.1
1,513.6
66.9
1,580.5
SSE Renewables
412.0
1,167.6
1,579.6
354.9
1,243.8
1,598.7
SSE Thermal
(ii)
669.8
4,417.9
5,087.7
650.6
4,556.7
5,207.3
Energy Customer Solutions
(ii)
4,704.7
196.5
4,901.2
4,601.5
239.3
4,840.8
SSE Energy Markets:
Gross trading
18,732.1
5,729.1
24,461.2
16,542.4
6,074.6
22,617.0
Optimisation trades
(16,797.0)
(192.8)
(16,989.8)
(14,547.0)
36.8
(14,510.2)
SSE Energy Markets
1,935.1
5,536.3
7,471.4
1,995.4
6,111.4
8,106.8
Corporate unallocated
138.1
347.4
485.5
208.9
294.5
503.4
Total SSE Group
10,186.5
11,704.3
21,890.8
10,131.9
12,512.6
22,644.5
(i) Significant inter-segment revenue is derived from the sale of power and stored gas from SSE Renewables and SSE Thermal to SSE Energy Markets; use of system income received by SSEN Distribution from Energy Customer Solutions; Energy Customer Solutions provides internal heat and light power supplies to other Group companies; SSE Energy Markets provides power, gas and other commodities to Energy Customer Solutions; and Corporate unallocated provides corporate and infrastructure services to all segments as well as third parties. All are provided at arm\u2019s length. (ii) The comparative segment revenue has been restated to combine Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Disaggregation of revenue Revenue from contracts with customers can be disaggregated by reported segment, by major service lines and by timing of revenue recognition as follows:
Revenue from contracts with customers
Goods or services transferred
Goods or services transferred over time at a point in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy revenue Gas storage customers revenue Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,184.9
\u2013
\u2013
21.3
\u2013
4.1
\u2013
1,210.3
\u2013
1,210.3
SSEN Distribution
1,040.6
\u2013
\u2013
18.3
\u2013
32.4
\u2013
1,091.3
25.2
1,116.5
SSE Renewables
\u2013
126.3
\u2013
103.4
179.7
2.6
\u2013
412.0
\u2013
412.0
SSE Thermal
22.7
604.8
2.8
6.2
\u2013
16.1
15.6
668.2
1.6
669.8
Energy Customer Solutions
2.9
4,626.0
\u2013
\u2013
\u2013
75.6
\u2013
4,704.5
0.2
4,704.7
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,624.3
310.8
\u2013
1,935.1
\u2013
1,935.1
Corporate unallocated
\u2013
\u2013
\u2013
122.5
\u2013
14.4
\u2013
136.9
1.2
138.1
Total SSE Group
2,251.1
5,357.1
2.8
271.7
1,804.0
456.0
15.6
10,158.3
28.2
10,186.5
(restated
(i)
)
Revenue from contracts with customers
Goods or services transferred at a point
Goods or services transferred over time in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy Gas storage revenue customers revenue Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
783.0
\u2013
\u2013
21.4
\u2013
\u2013
2.6
807.0
\u2013
807.0
SSEN Distribution
1,423.0
\u2013
\u2013
15.4
\u2013
\u2013
21.7
1,460.1
53.5
1,513.6
SSE Renewables
\u2013
97.1
\u2013
121.1
134.4
\u2013
2.3
354.9
\u2013
354.9
SSE Thermal
(i)
21.1
583.3
2.8
5.6
\u2013
17.6
11.6
642.0
8.6
650.6
Energy Customer Solutions
(i)
1.8
4,550.6
0.4
\u2013
\u2013
\u2013
37.4
4,590.2
11.3
4,601.5
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,815.1
\u2013
180.3
1,995.4
\u2013
1,995.4
Corporate unallocated
\u2013
\u2013
\u2013
187.1
\u2013
\u2013
21.8
208.9
\u2013
208.9
Total SSE Group
2,228.9
5,231.0
3.2
350.6
1,949.5
17.6
277.7
10,058.5
73.4
10,131.9
(i) The comparative has been restated to combine disaggregation of revenue of Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Included within trade and other receivables (note 18 ) is \u00a3547.2m (2025: \u00a3521.1m) of unbilled energy income. Included within trade and other payables (note 19 ) is \u00a3345.0m (2025: \u00a3292.2m) of contract related liabilities. Contract related assets reflect the Group\u2019s right to consideration in exchange for goods or services that have transferred to the customer, and contract related liabilities reflect the Group\u2019s obligation to transfer future goods or services for which the Group has already received consideration. The Group has not disclosed information related to the transaction price allocated to remaining performance obligations on the basis that the Group\u2019s contracts either have an original expected duration of less than one year, or permit the Group to recognise revenue as invoiced. Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-765": { "value": "(i) Revenue by segment
(restated
(ii)
)
Reported Inter-segment Segment Reported Inter-segment Segment
revenue
revenue
(i)
revenue revenue
revenue
(i)
revenue
2026 2026 2026 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,210.3
\u2013
1,210.3
807.0
\u2013
807.0
SSEN Distribution
1,116.5
38.6
1,155.1
1,513.6
66.9
1,580.5
SSE Renewables
412.0
1,167.6
1,579.6
354.9
1,243.8
1,598.7
SSE Thermal
(ii)
669.8
4,417.9
5,087.7
650.6
4,556.7
5,207.3
Energy Customer Solutions
(ii)
4,704.7
196.5
4,901.2
4,601.5
239.3
4,840.8
SSE Energy Markets:
Gross trading
18,732.1
5,729.1
24,461.2
16,542.4
6,074.6
22,617.0
Optimisation trades
(16,797.0)
(192.8)
(16,989.8)
(14,547.0)
36.8
(14,510.2)
SSE Energy Markets
1,935.1
5,536.3
7,471.4
1,995.4
6,111.4
8,106.8
Corporate unallocated
138.1
347.4
485.5
208.9
294.5
503.4
Total SSE Group
10,186.5
11,704.3
21,890.8
10,131.9
12,512.6
22,644.5
(i) Significant inter-segment revenue is derived from the sale of power and stored gas from SSE Renewables and SSE Thermal to SSE Energy Markets; use of system income received by SSEN Distribution from Energy Customer Solutions; Energy Customer Solutions provides internal heat and light power supplies to other Group companies; SSE Energy Markets provides power, gas and other commodities to Energy Customer Solutions; and Corporate unallocated provides corporate and infrastructure services to all segments as well as third parties. All are provided at arm\u2019s length. (ii) The comparative segment revenue has been restated to combine Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Disaggregation of revenue Revenue from contracts with customers can be disaggregated by reported segment, by major service lines and by timing of revenue recognition as follows:
Revenue from contracts with customers
Goods or services transferred
Goods or services transferred over time at a point in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy revenue Gas storage customers revenue Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,184.9
\u2013
\u2013
21.3
\u2013
4.1
\u2013
1,210.3
\u2013
1,210.3
SSEN Distribution
1,040.6
\u2013
\u2013
18.3
\u2013
32.4
\u2013
1,091.3
25.2
1,116.5
SSE Renewables
\u2013
126.3
\u2013
103.4
179.7
2.6
\u2013
412.0
\u2013
412.0
SSE Thermal
22.7
604.8
2.8
6.2
\u2013
16.1
15.6
668.2
1.6
669.8
Energy Customer Solutions
2.9
4,626.0
\u2013
\u2013
\u2013
75.6
\u2013
4,704.5
0.2
4,704.7
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,624.3
310.8
\u2013
1,935.1
\u2013
1,935.1
Corporate unallocated
\u2013
\u2013
\u2013
122.5
\u2013
14.4
\u2013
136.9
1.2
138.1
Total SSE Group
2,251.1
5,357.1
2.8
271.7
1,804.0
456.0
15.6
10,158.3
28.2
10,186.5
(restated
(i)
)
Revenue from contracts with customers
Goods or services transferred at a point
Goods or services transferred over time in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy Gas storage revenue customers revenue Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
783.0
\u2013
\u2013
21.4
\u2013
\u2013
2.6
807.0
\u2013
807.0
SSEN Distribution
1,423.0
\u2013
\u2013
15.4
\u2013
\u2013
21.7
1,460.1
53.5
1,513.6
SSE Renewables
\u2013
97.1
\u2013
121.1
134.4
\u2013
2.3
354.9
\u2013
354.9
SSE Thermal
(i)
21.1
583.3
2.8
5.6
\u2013
17.6
11.6
642.0
8.6
650.6
Energy Customer Solutions
(i)
1.8
4,550.6
0.4
\u2013
\u2013
\u2013
37.4
4,590.2
11.3
4,601.5
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,815.1
\u2013
180.3
1,995.4
\u2013
1,995.4
Corporate unallocated
\u2013
\u2013
\u2013
187.1
\u2013
\u2013
21.8
208.9
\u2013
208.9
Total SSE Group
2,228.9
5,231.0
3.2
350.6
1,949.5
17.6
277.7
10,058.5
73.4
10,131.9
(i) The comparative has been restated to combine disaggregation of revenue of Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Included within trade and other receivables (note 18 ) is \u00a3547.2m (2025: \u00a3521.1m) of unbilled energy income. Included within trade and other payables (note 19 ) is \u00a3345.0m (2025: \u00a3292.2m) of contract related liabilities. Contract related assets reflect the Group\u2019s right to consideration in exchange for goods or services that have transferred to the customer, and contract related liabilities reflect the Group\u2019s obligation to transfer future goods or services for which the Group has already received consideration. The Group has not disclosed information related to the transaction price allocated to remaining performance obligations on the basis that the Group\u2019s contracts either have an original expected duration of less than one year, or permit the Group to recognise revenue as invoiced. Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-748": { "value": "(i) Revenue by segment
(restated
(ii)
)
Reported Inter-segment Segment Reported Inter-segment Segment
revenue
revenue
(i)
revenue revenue
revenue
(i)
revenue
2026 2026 2026 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,210.3
\u2013
1,210.3
807.0
\u2013
807.0
SSEN Distribution
1,116.5
38.6
1,155.1
1,513.6
66.9
1,580.5
SSE Renewables
412.0
1,167.6
1,579.6
354.9
1,243.8
1,598.7
SSE Thermal
(ii)
669.8
4,417.9
5,087.7
650.6
4,556.7
5,207.3
Energy Customer Solutions
(ii)
4,704.7
196.5
4,901.2
4,601.5
239.3
4,840.8
SSE Energy Markets:
Gross trading
18,732.1
5,729.1
24,461.2
16,542.4
6,074.6
22,617.0
Optimisation trades
(16,797.0)
(192.8)
(16,989.8)
(14,547.0)
36.8
(14,510.2)
SSE Energy Markets
1,935.1
5,536.3
7,471.4
1,995.4
6,111.4
8,106.8
Corporate unallocated
138.1
347.4
485.5
208.9
294.5
503.4
Total SSE Group
10,186.5
11,704.3
21,890.8
10,131.9
12,512.6
22,644.5
(i) Significant inter-segment revenue is derived from the sale of power and stored gas from SSE Renewables and SSE Thermal to SSE Energy Markets; use of system income received by SSEN Distribution from Energy Customer Solutions; Energy Customer Solutions provides internal heat and light power supplies to other Group companies; SSE Energy Markets provides power, gas and other commodities to Energy Customer Solutions; and Corporate unallocated provides corporate and infrastructure services to all segments as well as third parties. All are provided at arm\u2019s length. (ii) The comparative segment revenue has been restated to combine Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Disaggregation of revenue Revenue from contracts with customers can be disaggregated by reported segment, by major service lines and by timing of revenue recognition as follows:
Revenue from contracts with customers
Goods or services transferred
Goods or services transferred over time at a point in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy revenue Gas storage customers revenue Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
1,184.9
\u2013
\u2013
21.3
\u2013
4.1
\u2013
1,210.3
\u2013
1,210.3
SSEN Distribution
1,040.6
\u2013
\u2013
18.3
\u2013
32.4
\u2013
1,091.3
25.2
1,116.5
SSE Renewables
\u2013
126.3
\u2013
103.4
179.7
2.6
\u2013
412.0
\u2013
412.0
SSE Thermal
22.7
604.8
2.8
6.2
\u2013
16.1
15.6
668.2
1.6
669.8
Energy Customer Solutions
2.9
4,626.0
\u2013
\u2013
\u2013
75.6
\u2013
4,704.5
0.2
4,704.7
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,624.3
310.8
\u2013
1,935.1
\u2013
1,935.1
Corporate unallocated
\u2013
\u2013
\u2013
122.5
\u2013
14.4
\u2013
136.9
1.2
138.1
Total SSE Group
2,251.1
5,357.1
2.8
271.7
1,804.0
456.0
15.6
10,158.3
28.2
10,186.5
(restated
(i)
)
Revenue from contracts with customers
Goods or services transferred at a point
Goods or services transferred over time in time
Total revenue
Supply of from
Use of energy and Construction Other contracts Other
electricity ancillary related contracted Physical Other with contract
networks services services services energy Gas storage revenue customers revenue Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
SSEN Transmission
783.0
\u2013
\u2013
21.4
\u2013
\u2013
2.6
807.0
\u2013
807.0
SSEN Distribution
1,423.0
\u2013
\u2013
15.4
\u2013
\u2013
21.7
1,460.1
53.5
1,513.6
SSE Renewables
\u2013
97.1
\u2013
121.1
134.4
\u2013
2.3
354.9
\u2013
354.9
SSE Thermal
(i)
21.1
583.3
2.8
5.6
\u2013
17.6
11.6
642.0
8.6
650.6
Energy Customer Solutions
(i)
1.8
4,550.6
0.4
\u2013
\u2013
\u2013
37.4
4,590.2
11.3
4,601.5
SSE Energy Markets
\u2013
\u2013
\u2013
\u2013
1,815.1
\u2013
180.3
1,995.4
\u2013
1,995.4
Corporate unallocated
\u2013
\u2013
\u2013
187.1
\u2013
\u2013
21.8
208.9
\u2013
208.9
Total SSE Group
2,228.9
5,231.0
3.2
350.6
1,949.5
17.6
277.7
10,058.5
73.4
10,131.9
(i) The comparative has been restated to combine disaggregation of revenue of Gas Storage (2025: \u00a317.6m) and SSE Thermal (2025: \u00a3633.0m) into SSE Thermal (2025: \u00a3650.6m) and SSE Business Energy (2025: \u00a32,692.4m) and SSE Airtricity (2025: \u00a31,909.1m) into Energy Customer Solutions (2025: \u00a34,601.5m). Included within trade and other receivables (note 18 ) is \u00a3547.2m (2025: \u00a3521.1m) of unbilled energy income. Included within trade and other payables (note 19 ) is \u00a3345.0m (2025: \u00a3292.2m) of contract related liabilities. Contract related assets reflect the Group\u2019s right to consideration in exchange for goods or services that have transferred to the customer, and contract related liabilities reflect the Group\u2019s obligation to transfer future goods or services for which the Group has already received consideration. The Group has not disclosed information related to the transaction price allocated to remaining performance obligations on the basis that the Group\u2019s contracts either have an original expected duration of less than one year, or permit the Group to recognise revenue as invoiced. Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-774": { "value": "Revenue by geographical location is as follows:
2026 2025
\u00a3m \u00a3m
UK
7,942.9
8,490.3
Ireland
2,237.8
1,641.6
Southern Europe
5.8
\u2013
10,186.5
10,131.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-642": { "value": "6. Other operating income and cost Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109 and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditors. 1", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-724": { "value": "6. Other operating income and cost Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109 and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditors. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-766": { "value": "6. Other operating income and cost Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109 and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditors. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-775": { "value": "6. Other operating income and cost Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109 and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditors. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-781": { "value": "6. Other operating income and cost Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109 and includes an explanation of how auditor objectivity and independence is safeguarded when non-audit services are provided by the auditors. ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-687": { "value": "
Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges.
(ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease
payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year.
(iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the
UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants.
(iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas
metering business and \u00a31.7m from investments in associates).
14. Property, plant and equipment
Renewable
Thermal power power Distribution Transmission
generation generation network network Land and Assets under
assets
(i)
assets
(i)
assets assets buildings construction Other assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
3,633.9
4,673.1
10,563.9
6,417.0
629.1
1,263.9
1,428.3
28,609.2
Additions
33.9
20.5
103.3
1.7
77.2
2,503.1
51.8
2,791.5
Adjustment to decommissioning asset
(12.8)
(2.5)
\u2013
\u2013
\u2013
\u2013
(3.6)
(18.9)
Transfer from intangible assets
(note 13)
(ii)
\u2013
\u2013
\u2013
\u2013
\u2013
1 7 0 . 0
( 3 . 1 )
1 6 6 . 9
Transfer from assets under
construction
(15.8)
103.2
579.9
1,243.7
16.6
(1,991.3)
63.7
\u2013
Disposals
(iv)
(0.1)
\u2013
(2.0)
\u2013
(10.6)
(17.7)
(10.4)
(40.8)
Exchange rate adjustments
(10.5)
(18.4)
\u2013
\u2013
(1.6)
(6.3)
(0.3)
(37.1)
At 31 March 2025
3,628.6
4,775.9
11,245.1
7,662.4
710.7
1,921.7
1,526.4
31,470.8
Additions
6.0
3.0
\u2013
\u2013
33.7
3,877.2
63.6
3,983.5
Adjustment to decommissioning asset
3.4
7.5
\u2013
\u2013
\u2013
\u2013
13.0
23.9
Transfer from intangible assets
(note 13)
(ii)
0.4
0.8
\u2013
\u2013
\u2013
58.2
9.1
68.5
Transfer from assets under
construction
70.0
1,115.5
888.0
2,236.4
4.4
(4,381.4)
67.1
\u2013
Transfer between categories
(39.3)
\u2013
\u2013
\u2013
39.3
\u2013
\u2013
\u2013
Disposals
(iv)
(4.4)
(2.3)
(0.5)
\u2013
(11.9)
(2.8)
(36.9)
(58.8)
Transfer to assets held for sale
(note 12)
\u2013
(33.6)
\u2013
\u2013
(1.5)
\u2013
(1.3)
(36.4)
Exchange rate adjustments
23.0
37.5
\u2013
\u2013
1.6
13.5
\u2013
75.6
At 31 March 2026
3,687.7
5,904.3
12,132.6
9,898.8
776.3
1,486.4
1,641.0
35,527.1
Depreciation:
At 31 March 2024
(2,591.9)
(2,229.4)
(4,704.8)
(985.5)
(253.9)
(10.9)
(1,221.3)
(11,997.7)
Charge for the year
(85.0)
(175.6)
(188.3)
(135.3)
(18.0)
\u2013
(63.4)
(665.6)
Transfer between categories
\u2013
\u2013
\u2013
\u2013
(0.2)
\u2013
0.2
\u2013
Exceptional impairment charges
(iii)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 7 . 2 )
( 7 . 2 )
Non-exceptional impairment charges
\u2013
\u2013
\u2013
\u2013
(0.1)
(0.4)
(1.2)
(1.7)
Disposals
\u2013
\u2013
0.2
\u2013
0.5
\u2013
9.0
9.7
Exchange rate adjustments
3.9
10.6
0.1
\u2013
(0.2)
\u2013
1.4
15.8
At 31 March 2025
(2,673.0)
(2,394.4)
(4,892.8)
(1,120.8)
(271.9)
(11.3)
(1,282.5)
(12,646.7)
Charge for the year
(77.6)
(191.4)
(210.5)
(168.5)
(24.5)
\u2013
(80.5)
(753.0)
Exceptional impairment charges and
reversals
(iii)
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 5 . 8 )
4 8 . 5
( 1 0 7 . 3 )
Non-exceptional impairment charges
(3.4)
\u2013
\u2013
\u2013
1.5
(1.8)
0.3
(3.4)
Disposals
(iv)
4.4
1.2
\u2013
\u2013
5.5
2.8
21.5
35.4
Transfer to assets held for sale
(note 12)
\u2013
1.6
\u2013
\u2013
\u2013
\u2013
0.7
2.3
Exchange rate adjustments
(11.0)
(20.3)
\u2013
\u2013
(0.4)
\u2013
(0.4)
(32.1)
At 31 March 2026
(2,760.6)
(2,603.3)
(5,103.3)
(1,289.3)
(289.8)
(166.1)
(1,292.4)
(13,504.8)
Net book value
At 31 March 2026
927.1
3,301.0
7,029.3
8,609.5
486.5
1,320.3
348.6
22,022.3
At 31 March 2025
955.6
2,381.5
6,352.3
6,541.6
438.8
1,910.4
243.9
18,824.1
At 1 April 2024
1,042.0
2,443.7
5,859.1
5,431.5
375.2
1,253.0
207.0
16,611.5
(i) Renewable and Thermal power generation assets includes plant and machinery and related land and buildings and decommissioning costs with a net book value of \u00a3139.2m and \u00a359.2m (2025: \u00a3137.3m and \u00a358.7m) respectively. Additionally, Other assets includes \u00a362.5m in relation to decommissioning costs for Gas Storage assets (2025: \u00a349.5m). (ii) Represents the carrying value of development assets transferred from intangible assets (note 13) which have reached the consent stage and have been approved for construction and the reclassification of certain software assets to intangible assets. (iii) Exceptional impairment charges of \u00a3107.3m relate to Strathy South (\u00a396.0m) and Aberarder (\u00a359.8m), offset by an impairment reversal of \u00a348.5m relating to the Group\u2019s Gas Storage assets (note 15). (iv) Disposals in the current year primarily relate to surplus buildings and vehicles.
Included within property, plant and equipment are the following right of use assets for leased assets:
Thermal power
generation Land and
assets buildings Other assets Total
\u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 31 March 2024
369.6
282.4
151.4
803.4
Additions
\u2013
76.8
49.9
126.7
Disposals
\u2013
(11.6)
(9.2)
(20.8)
Exchange rate adjustments
\u2013
(0.8)
(0.5)
(1.3)
At 31 March 2025
369.6
346.8
191.6
908.0
Additions
\u2013
3 3 . 3
6 0 . 0
9 3 . 3
Disposals
\u2013
(3.5)
(40.4)
(43.9)
Transfer to asset held for sale (note 12)
\u2013
(1.5)
\u2013
(1.5)
Exchange rate adjustments
\u2013
1 . 7
\u2013
1 . 7
At 31 March 2026
369.6
376.8
211.2
957.6
Depreciation
At 31 March 2024
(264.0)
(54.0)
(63.2)
(381.2)
Charge for the year
(18.4)
(16.1)
(31.2)
(65.7)
Disposals
\u2013
0.8
7.1
7.9
At 31 March 2025
(282.4)
(69.3)
(87.3)
(439.0)
Charge for the year
(18.6)
(20.3)
(43.7)
(82.6)
Disposals
\u2013
1.7
27.8
29.5
At 31 March 2026
(301.0)
(87.9)
(103.2)
(492.1)
Net book value
At 31 March 2026
68.6
288.9
108.0
465.5
At 31 March 2025
87.2
277.5
104.3
469.0
At 1 April 2024
105.6
228.4
88.2
422.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-780": { "value": "Group operating profit is stated after charging/(crediting) the following items:
2026 2025
\u00a3m \u00a3m
Depreciation of property, plant and equipment
(i)
(note 14)
753.0
665.6
Exceptional charges (note 7)
162.6
309.7
Research costs
17.7
17.2
Lease charges
(ii)
14.0
14.3
Release of deferred income in relation to capital grants and historic customer contributions
(13.1)
(14.1)
Government grant income
(iii)
\u2013
(59.3)
Gain on disposals (non-exceptional)
(iv)
(7.3)
(47.9)
(i) Does not include exceptional impairment charges. (ii) Represents the expense of leases with a duration of twelve months or less and leases for assets which are deemed \u201clow value\u201d under the principles of IFRS 16. In addition, variable lease payments, which are not included within the measurement of lease liabilities as they do not depend on an index or rate, of \u00a317.8m (2025: \u00a39.8m) were charged in the current year. (iii) During the prior year the Group received \u00a359.3m of income from government funded customer support schemes. All amounts received were passed to the Group\u2019s energy customers in the UK and Republic of Ireland. Amounts received were classed as other operating income in line with the Group\u2019s accounting policies for government grants. (iv) There were no significant gains recognised on disposals in the current year (2025: \u00a347.9m gain relating to \u00a338.8m from the sale of land at Ferrybridge, \u00a37.4m from the sale of the gas metering business and \u00a31.7m from investments in associates). ", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-688": { "value": "
Auditor\u2019s remuneration
2026 2025
\u00a3m \u00a3m
Audit of these financial statements
0.4
0.4
Amounts receivable by the Company\u2019s auditor and its associates in respect of:
Audit of financial statements of subsidiaries of the Company
5.7
5.3
Audit related assurance services
0.4
0.3
Other services fees
0.4
0.3
6.5
5.9
Total remuneration paid to auditor
6.9
6.3
Audit fees incurred in the current year include scope changes for non-recurring items and overruns of \u00a30.7m (2025: \u00a30.8m) related to the prior
year audit. Assurance and other service fees incurred in the year were \u00a30.8m (2025: \u00a30.6m). Audit related assurance services include fees
incurred in relation to regulatory accounts and returns required by Ofgem, comfort letters in connection with funding and debt issuance and
ESG assurance. A description of the work of the Audit Committee is set out on pages 102 to 109
and includes an explanation of how auditor
objectivity and independence is safeguarded when non-audit services are provided by the auditors.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-643": { "value": "
7. Exceptional items and certain re-measurements
2026 2025
\u00a3m \u00a3m
Exceptional items (note 7.1)
Asset impairments and reversals
(99.7)
(293.6)
Provisions for restructuring and other liabilities
(62.9)
(16.1)
Net gains on disposals of businesses and other assets
\u2013
0.3
Total exceptional items
(162.6)
(309.4)
Certain re-measurements (note 7.2)
Movement on operating derivatives (note 24)
(152.0)
(49.0)
Movement in fair value of commodity stocks
10.4
(8.4)
Movement on financing derivatives (note 24)
17.9
12.8
Share of movement on derivatives in jointly controlled entities (net of tax)
(16.1)
(21.1)
Total certain re-measurements
(139.8)
(65.7)
Exceptional items and certain re-measurements before taxation
(302.4)
(375.1)
Taxation
Taxation on other exceptional items
39.6
29.7
Taxation on certain re-measurements
16.9
4.0
Total taxation on exceptional items and certain re-measurements
56.5
33.7
Total exceptional items and certain re-measurements after taxation
(245.9)
(341.4)
Exceptional items and certain re-measurements are disclosed across the following categories within the income statement:
2026 2025
\u00a3m \u00a3m
Cost of sales:
Movement on operating derivatives (note 24)
(152.0)
(49.0)
Movement in fair value of commodity stocks
10.4
(8.4)
Operating costs:
(141.6)
(57.4)
Asset impairments and reversals
(99.7)
(293.6)
Exceptional restructuring provisions and other liabilities
(62.9)
(16.1)
Joint ventures and associates:
(162.6)
(309.7)
Share of movement on derivatives in jointly controlled entities (net of tax)
(16.1)
(21.1)
Operating loss
(320.3)
(388.2)
Finance income
Movement on financing derivatives (note 24)
17.9
12.8
Interest income on deferred consideration receipt
\u2013
0.3
17.9
13.1
Loss before tax
(302.4)
(375.1)
7.1 Exceptional items
Exceptional items in the year ended 31 March 2026
In the year to 31 March 2026, the Group recognised a pre-tax exceptional charge of \u00a3162.6m (2025: \u00a3309.4m), which is primarily due to
exceptional pre-tax impairment charges totalling \u00a3155.8m relating the Group\u2019s onshore wind farms at Strathy South (\u00a396.0m) and Aberarder
(\u00a359.8m); and exceptional Group restructuring costs of \u00a384.7m (including \u00a321.8m of asset impairments). These exceptional costs are partially
offset by exceptional pre-tax impairment reversals totalling \u00a377.9m relating to the Group\u2019s gas storage assets (\u00a348.5m) and joint venture
investment in Triton Power Holdings Limited (\u201cTriton\u201d) (\u00a329.4m).
The net exceptional (charges)/credits recognised can be summarised as follows:
Property, plant Joint venture
Intangible assets and equipment investments Other assets/ Net (charges)
(note 13) (note 14) (note 16) (liabilities) and credits
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Renewables \u2013 impairment charges (i)
\u2013
(155.8)
\u2013
\u2013
(155.8)
Gas Storage \u2013 impairment reversal (ii)
\u2013
48.5
\u2013
\u2013
48.5
Triton Power 50% joint venture \u2013 investment impairment reversal (iii)
\u2013
\u2013
29.4
\u2013
29.4
Restructuring costs (iv)
(4.2)
\u2013
(17.6)
(62.9)
(84.7)
Total exceptional items
(4.2)
(107.3)
11.8
(62.9)
(162.6)
i) Renewables \u2013 impairment charges
The Group performed formal impairment reviews over the carrying value of its mid-construction onshore wind farm developments at Strathy
South and Aberarder (see note 15.2
) following grid connection delays notified during the year. As a result of these assessments, the Group
recognised exceptional impairment charges of \u00a396.0m to Strathy South and \u00a359.8m to the carrying value of Aberarder.
ii) Gas Storage \u2013 impairment reversal
At 31 March 2026, the Group performed a formal impairment review of the carrying value of its operational Gas Storage assets due to global
commodity market volatility in the period prior to the Group\u2019s balance sheet date (see note 15.2
). As a result of the assessment, the Group
recognised an exceptional impairment reversal of \u00a348.5m to the carrying value of the Group\u2019s Gas Storage assets.
iii) Triton Power 50% joint venture \u2013 investment impairment reversal
The Group recognised an impairment reversal of \u00a329.4m against the carrying value of the Group\u2019s investment in Triton Power Holdings Limited,
following updates to projected running schedules and future market price assumptions (see note 15.2
).
iv) Restructuring costs
During the year the Group continued its Group Operating Model and Efficiency Review and related restructuring programmes, resulting in
the recognition of exceptional restructuring costs totalling \u00a384.7m. Costs recognised during the year included the impairment of \u00a321.8m of
standalone hydrogen production development projects and joint venture investments in SSE Thermal; consultancy fees of \u00a322.0m; \u00a320.9m of
IT customisation and integration charges; and \u00a320.0m of redundancy costs. While the wider Group Operating Model and Efficiency Review is
now largely complete, the Group will continue to incur exceptional restructuring costs related to the ongoing transformation of SSEN
Distribution, which is expected to continue into the 31 March 2028 financial year.
Exceptional items in the year ended 31 March 2025
i) Southern Europe goodwill and development assets \u2013 impairment charge
The Group recognised a pre-tax impairment charge of \u00a3249.5m against the carrying value of its Southern Europe goodwill and intangible
assets, offset by the release of a deferred tax liability of \u00a323.2m.
ii) Restructuring costs
Costs of \u00a346.7m in relation to the Group Operating Model and Efficiency Review were recognised during the year ended 31 March 2025.
The costs included the impairment of \u00a319.8m of goodwill associated with The Energy Solutions Group Limited; the impairment of \u00a311.1m of
stranded IT assets; and \u00a313.8m of redundancy costs.
In addition, the Group recognised further exceptional charges of \u00a313.5m in relation to the ongoing disposal of its non-core Enerveo subsidiary.
iii) Other credits
The Group recognised a final exceptional credit of \u00a30.3m relating to the unwind of discounting on deferred consideration recognised on the
part disposal of SSE Slough Multifuel Limited in the year ending 31 March 2021.
Taxation
The Group has separately recognised the tax effect of the exceptional items summarised above.
7.2 Certain re-measurements
The Group, through its SSE Energy Markets business, enters into forward commodity purchase (and sales) contracts to
\u2013 meet the future demand requirements of its Energy Customer Solutions businesses,
\u2013 optimise the value of its SSE Renewables and SSE Thermal power generation assets, or
\u2013 conduct trading subject to the value at risk limits set out by the Energy Markets Risk Committee.
Certain of these contracts (predominately power, gas and other commodity purchase contracts) are determined to be derivative financial
instruments under IFRS 9 \u201cFinancial Instruments\u201d and therefore are required to be recorded at their fair value. Conversely, commodity contracts
that are not financial instruments under IFRS 9 (predominately electricity sales contracts) are accounted for as \u201cown use\u201d contracts and are not
recorded at fair value. Inventory held by the SSE Thermal business for optimisation and trading purposes is measured at fair value, with changes
in value recognised within \u201ccertain re-measurements\u201d. In addition, the mark-to-market valuation movements on the Group\u2019s CfDs entered into
by SSE Renewables that are not designated as government grants, and which are measured as Level 3 fair value financial instruments, are also
included within \u201ccertain re-measurements\u201d.
Changes in the fair value of those commodity contracts designated as financial instruments and trading inventory are therefore reflected in the
income statement. The Group recognises the change in the fair value of these forward contracts and trading inventory separately as \u201ccertain re-
measurements\u201d, as the Group does not believe this mark-to-market movement is relevant to the underlying performance of its businesses.
At 31 March 2026, changes in commodity prices and in SSE\u2019s contractual positions have resulted in a net mark-to-market re-measurement
on commodity contracts designated as financial instruments, contracts for difference contracts and trading inventory of \u00a3141.6m (loss)
(2025: \u00a357.4m (loss)). The net IFRS 9 position on operating derivatives at 31 March 2026 is a liability of \u00a3158.9m (2025: \u00a33.9m liability).
The mark-to-market loss in the year has resulted in a deferred tax credit of \u00a318.5m (2025: \u00a39.3m credit), which has been reported separately as
part of certain re-measurements. In addition, the Group has recognised gains of \u00a317.9m (2025: \u00a312.8m gain) on the re-measurement of certain
interest rate and foreign exchange contracts through the income statement.
The following mark-to-market losses/gains were recorded in the statement of other comprehensive income:
\u2013 \u00a314.2m of losses (2025: \u00a348.1m gain) on the re-measurement of cash flow hedge accounted contracts, and
\u2013 \u00a335.0m of losses (2025: \u00a316.7m loss) on the equity share of the re-measurement of cash flow hedge accounted contracts in joint ventures
The re-measurements arising from IFRS 9 together with the associated deferred tax are disclosed separately to aid understanding of the
underlying performance of the Group.
", "dimensions": { "concept": "sseplc:DisclosureOfExceptionalItemsAndCertainReMeasurements", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-644": { "value": "
8. Directors and employees
8.1 Staff costs
2026 2025
\u00a3m \u00a3m
Staff costs:
Wages and salaries
802.2
799.6
Social security costs
111.7
92.4
Share-based remuneration
29.6
24.5
Pension costs (note 23)
132.5
118.5
1,076.0
1,035.0
Less: capitalised as property, plant and equipment or intangible assets
(353.3)
(299.1)
722.7
735.9
8.2 Employee numbers
2026 2025
Number Number
Numbers employed at 31 March
(i)
15,197
15,824
15,197
15,824
(i) The number of employees at 31 March 2026 includes 475 employees of Enerveo (2025: 944).
The average number of people employed by the Group (including Executive Directors) during the year was:
2025
2026 Number
Number (restated*)
SSEN Transmission
2,619
2,082
SSEN Distribution
4,873
4,818
SSE Renewables
1,909
2,142
SSE Thermal
824
815
Energy Customer Solutions
2,695
2,978
SSE Energy Markets
368
349
Corporate Services
(i)
2,250
2,443
Total SSE Group
15,538
15,627
* The comparative has been restated to reallocate 97 average employees from Gas Storage to SSE Thermal and combine 1,977 and 981 average employees in SSE Business Energy and SSE
Airtricity respectively in Energy Customers Solutions.
(i) Enerveo employees of 846 (2025: 1,011) continue to be reported within Corporate Services.
8.3 Remuneration of key management personnel
The remuneration of the key management personnel of the Group (excluding amounts equivalent to pension value increases as set out in the
Remuneration Report), is set out below in aggregate.
2026
2025
Executive Executive
committee Executive committee Executive
members directors Total members directors Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Salaries and short-term employee benefits
5.7
4.6
10.3
5.1
5.4
10.5
Social security costs
1.2
1.0
2.2
1.0
1.0
2.0
Post-employment benefits
0.6
0.2
0.8
0.6
0.3
0.9
Share-based benefits
2.8
3.8
6.6
2.7
3.4
6.1
10.3
9.6
19.9
9.4
10.1
19.5
Key management personnel are responsible for planning, directing and controlling the operations of the Group and are designated Persons
Discharging Management Responsibilities (\u201cPDMRs\u201d) in line with the market abuse regulation definition. The Group has two (2025: three)
Executive Directors. Executive committee members included in the table above at 31 March 2026 are the Managing Director of SSEN
Distribution; the Managing Director of SSEN Transmission; the Managing Director of SSE Renewables; the Managing Director of Thermal; the
Managing Director of Energy Customer Solutions; the Managing Director of Corporate Affairs, Regulation and Strategy; the Director of Human
Resources; the Group\u2019s General Counsel, and the Group\u2019s Chief Sustainability Officer.
Further information about the remuneration of individual Directors is provided in the audited part of the Remuneration Report.
Information regarding transactions with post-retirement benefit plans is included in note 23
.
Non-Executive Directors were paid fees of \u00a31.5m during the current year (2025: \u00a31.4m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-689": { "value": "8.3 Remuneration of key management personnel The remuneration of the key management personnel of the Group (excluding amounts equivalent to pension value increases as set out in the Remuneration Report), is set out below in aggregate.
2026
2025
Executive Executive
committee Executive committee Executive
members directors Total members directors Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Salaries and short-term employee benefits
5.7
4.6
10.3
5.1
5.4
10.5
Social security costs
1.2
1.0
2.2
1.0
1.0
2.0
Post-employment benefits
0.6
0.2
0.8
0.6
0.3
0.9
Share-based benefits
2.8
3.8
6.6
2.7
3.4
6.1
10.3
9.6
19.9
9.4
10.1
19.5
Key management personnel are responsible for planning, directing and controlling the operations of the Group and are designated Persons Discharging Management Responsibilities (\u201cPDMRs\u201d) in line with the market abuse regulation definition. The Group has two (2025: three) Executive Directors. Executive committee members included in the table above at 31 March 2026 are the Managing Director of SSEN Distribution; the Managing Director of SSEN Transmission; the Managing Director of SSE Renewables; the Managing Director of Thermal; the Managing Director of Energy Customer Solutions; the Managing Director of Corporate Affairs, Regulation and Strategy; the Director of Human Resources; the Group\u2019s General Counsel, and the Group\u2019s Chief Sustainability Officer. Further information about the remuneration of individual Directors is provided in the audited part of the Remuneration Report. Information regarding transactions with post-retirement benefit plans is included in note 23 . Non-Executive Directors were paid fees of \u00a31.5m during the current year (2025: \u00a31.4m).", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-645": { "value": "
9. Finance income and costs
Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets.
(ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%).
Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2.
Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-776": { "value": "9. Finance income and costs Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets. (ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%). Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2. Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-767": { "value": "9. Finance income and costs Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets. (ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%). Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2. Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-749": { "value": "9. Finance income and costs Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets. (ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%). Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2. Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-725": { "value": "9. Finance income and costs Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets. (ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%). Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2. Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-690": { "value": "9. Finance income and costs Recognised in income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Finance income:
Interest income from short term deposits
46.9
\u2013
46.9
24.8
\u2013
24.8
Interest on pension scheme assets
(i)
29.4
\u2013
29.4
20.7
\u2013
20.7
Other interest receivable:
Joint ventures and associates
119.4
\u2013
119.4
118.8
\u2013
118.8
Other receivable
45.2
\u2013
45.2
30.5
0.3
30.8
164.6
\u2013
164.6
149.3
0.3
149.6
Total finance income
240.9
\u2013
240.9
194.8
0.3
195.1
Finance costs:
Bank loans and overdrafts
(69.7)
\u2013
(69.7)
(61.1)
\u2013
(61.1)
Other loans and charges
(362.7)
\u2013
(362.7)
(309.9)
\u2013
(309.9)
Notional interest arising on discounted provisions
(34.3)
\u2013
(34.3)
(27.2)
\u2013
(27.2)
Foreign exchange translation of monetary assets
and liabilities
(4.4)
\u2013
( 4 . 4 )
(0.2)
\u2013
(0.2)
Lease charges
(24.1)
\u2013
(24.1)
(26.9)
\u2013
(26.9)
Less: interest capitalised
(ii)
184.8
\u2013
184.8
106.1
\u2013
106.1
Total finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Changes in fair value of financing derivative assets or
liabilities at fair value through profit or loss
\u2013
17.9
17.9
\u2013
12.8
12.8
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
Presented as:
Finance income
240.9
17.9
258.8
194.8
13.1
207.9
Finance costs
(310.4)
\u2013
(310.4)
(319.2)
\u2013
(319.2)
Net finance costs
(69.5)
17.9
(51.6)
(124.4)
13.1
(111.3)
(i) The interest income on net pension assets for the year ended 31 March 2026 of \u00a329.4m (2025: \u00a320.7m) represents the interest earned on the Group\u2019s net retirement benefits assets. (ii) The capitalisation rate applied in determining the amount of borrowing costs to capitalise in the year was 4.29% (2025: 4.12%). Adjusted Net Finance Costs are arrived at after the following adjustments:
2025
2026 \u00a3m
\u00a3m (restated*)
Net finance costs
(51.6)
(111.3)
(Add)/less:
Share of interest from joint ventures and associates
(155.7)
(164.3)
Movement on financing derivatives (note 24)
(17.9)
(12.8)
Exceptional item
\u2013
(0.3)
Share of net finance cost attributable to non-controlling interests
13.4
14.0
Adjusted Net Finance Costs APM
(211.8)
(274.7)
Notional interest arising on discounted provisions
34.3
27.2
Lease charges
24.1
26.9
Hybrid coupon payment (note 22.5(iii))
(72.9)
(73.7)
Finance costs incurred by non-controlled interests on debt instruments provided by SSE plc
(8.0)
(6.3)
Adjusted Net Finance Costs for interest cover calculations APM
(234.3)
(300.6)
* The comparatives have been restated. See note 1.2. Recognised in other comprehensive income
2026 2025
\u00a3m \u00a3m
(Loss)/gain on effective portion of cash flow hedges (before tax)
(14.2)
48.1
Share of joint venture and associate loss on effective portion of cash flow hedges (before tax)
(46.7)
(22.3)
Total recognised in other comprehensive income
(60.9)
25.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-646": { "value": "10. Taxation 10.1 Analysis of charge recognised in the income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Current tax
Corporation tax
141.8
(33.2)
108.6
247.3
(5.3)
242.0
Adjustments in respect of previous years
(11.2)
\u2013
(11.2)
(8.3)
\u2013
(8.3)
Total current tax
130.6
(33.2)
97.4
239.0
(5.3)
233.7
Deferred tax
Current year
345.3
(23.3)
322.0
293.6
(28.4)
265.2
Adjustments in respect of previous years
6.3
\u2013
6.3
19.1
\u2013
19.1
Total deferred tax
351.6
(23.3)
328.3
312.7
(28.4)
284.3
Total taxation charge/(credit)
482.2
(56.5)
425.7
551.7
(33.7)
518.0
The Group has separately recognised the tax effect of the exceptional items and certain re-measurements summarised above. SSE continues to be accredited with the Fair Tax Mark. As a result, these financial statements include several areas of enhanced disclosure which have been provided in order to develop stakeholder understanding of the tax the Group pays and the reported total taxation charge along with additional commentary on the main reconciling items. These can be seen at section A2 . The majority of the Group\u2019s profits are earned in the UK, with the standard rate of UK corporation tax being 25% for the year to 31 March 2026 (2025: 25%). Profits earned by the Group in the Republic of Ireland are taxable at either 12.5% or 25%, depending upon the nature of the income. While the Group has activities in other jurisdictions outside of the UK and Republic of Ireland, tax paid on those development activities is currently immaterial. Change in UK corporation tax rates There are no announced or enacted changes in corporation tax rates in the year ended 31 March 2026. Finance Act (No.2) 2023 introduced legislation in respect of Multinational Top-up Tax in line with OECD BEPS Pillar Two principles. Similar draft legislation has been introduced in the Republic of Ireland and other EU jurisdictions. The Group has carried out a group wide tax rate review, in line with the BEPS Pillar Two Legislation and guidance, and has found there is no material impact as tax rates in the countries in which the Group operates exceed 15%. The Group has applied the exemption from recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes as required by the amendments to IAS 12 \u201cInternational Tax Reform \u2013 Pillar Two Model Rules\u201d, which were issued in May 2023. The Adjusted Current Tax Charge and the adjusted effective rate of tax, which are presented in order to best represent underlying performance by making similar adjustments to the adjusted profit before tax measure, are arrived at after the following adjustments:
2025
2026 2026 \u00a3m 2025
\u00a3m % (restated*) %
Group tax charge and effective rate
425.7
24.3
518.0
29.4
Add: reported deferred tax charge and effective rate
(328.3)
(18.8)
(284.3)
(16.1)
Reported current tax charge and effective rate
97.4
5.5
233.7
13.3
Effect of adjusting items
(0.7)
(2.4)
Reported current tax charge and effective rate on adjusted basis
97.4
4.8
233.7
10.9
Add:
Share of current tax from joint ventures and associates
48.6
2.5
45.1
2.2
Current tax credit on exceptional items
33.2
1.6
5.3
0.2
Share of current tax attributable to non-controlling interests
14.2
0.7
13.8
0.6
Adjusted Current Tax Charge and effective rate APM
193.4
9.6
297.9
13.9
* The comparatives have been restated. See note 1.2.
Tax (credit)/charge recognised in other comprehensive income:
2026 2025
\u00a3m \u00a3m
Relating to:
Pension scheme actuarial movements
(20.1)
13.2
Cash flow and net investment hedge movements
(3.8)
11.3
(23.9)
24.5
All tax recognised through other comprehensive income is deferred tax.
See further Taxation disclosures at A2
.
10.2 Deferred taxation
The following are the deferred tax liabilities and assets recognised by the Group and movements thereon during the current and prior
reporting periods:
Accelerated Fair value Retirement
capital gains/(losses) on benefit Decommissioning
allowances derivatives obligations liabilities Other Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 31 March 2024
1,479.3
33.5
105.4
(79.5)
(1.9)
1,536.8
Charge/(credit) to income statement
306.0
(5.0)
8.0
3.7
(28.4)
284.3
Transfer of deferred tax on derivatives
\u2013
(18.3)
\u2013
\u2013
18.3
\u2013
Decommissioning asset and liability presentation
under IAS 12
\u2013
\u2013
\u2013
(17.2)
17.2
\u2013
Charge to other comprehensive income
\u2013
11.3
13.2
\u2013
\u2013
24.5
Charge to equity
\u2013
\u2013
\u2013
\u2013
2.2
2.2
Exchange adjustment
(3.3)
\u2013
\u2013
\u2013
\u2013
(3.3)
At 31 March 2025
1,782.0
21.5
126.6
(93.0)
7.4
1,844.5
Charge/(credit) to income statement
347.5
(14.0)
10.0
(9.4)
(5.8)
328.3
Credit to other comprehensive income
\u2013
(3.8)
(20.1)
\u2013
\u2013
(23.9)
Charge to equity
\u2013
\u2013
\u2013
\u2013
(9.1)
(9.1)
Exchange adjustment
1.5
\u2013
\u2013
\u2013
0.2
1.7
At 31 March 2026
2,131.0
3.7
116.5
(102.4)
(7.3)
2,141.5
Certain deferred tax assets and liabilities have been offset, including the asset balances analysed in the tables above. The following is an analysis
of the deferred tax balances (after offset) for financial reporting purposes:
2026 2025
\u00a3m \u00a3m
Deferred tax liabilities
2,303.6
2,000.9
Deferred tax assets
(162.1)
(156.4)
Net deferred tax liabilities
2,141.5
1,844.5
In total there are \u00a362.0m (2025: \u00a320.6m) of unrecognised deferred tax assets. The Group has not recognised a deferred tax asset of \u00a35.6m
(2025: \u00a32.9m) on trading losses of \u00a345.1m (2025: \u00a323.7m) in the Republic of Ireland. The Group has not recognised deferred tax assets
of \u00a356.4m (2025: \u00a317.7m) in respect of losses of \u00a3233.3m (2025: \u00a374.6m) primarily in Spain and Japan. These assets have not been recognised
as the Group is uncertain that there will be sufficient future profits against which to utilise the assets. There are no impending time limits for
expiry of the losses or allowances to which they relate.
No deferred tax is recognised on the unremitted earnings of overseas subsidiaries, associates and joint ventures. As the earnings are continually
reinvested by the Group, no tax is expected to be payable on them in the foreseeable future. Total unremitted earnings at 31 March 2026 were
\u00a31,167.8m (2025: \u00a3971.1m).
A2. Taxation
The Group\u2019s primary tax disclosures are included at note 10 . The following tables represent enhanced disclosures adopted in order to assist
stakeholder understanding of the Group\u2019s tax position and policies as part of the Group\u2019s commitment to its Fair Tax Mark accredited status.
Reconciliation of tax charge to adjusted underlying current tax
2026 2026 2025 2025
\u00a3m % \u00a3m %
Group profit before tax
1,837.3
1,850.9
Less: share of results of associates and jointly controlled entities
(88.0)
(89.9)
Profit before tax
1,749.3
1,761.0
Tax on profit on ordinary activities at standard UK corporation
tax rate of 25% (2025: 25%)
437.3
25.0
440.3
25.0
Tax effect of:
Capital allowances less than depreciation
(276.9)
(15.9)
(216.8)
(12.3)
(Impairment reversal)/impairment of investments
(1.9)
(0.1)
65.1
3.7
Movement in restructuring and settlement provisions
4.8
0.3
(4.4)
(0.2)
Fair value movements on derivatives
12.4
0.7
7.3
0.4
Pension movements
(10.0)
(0.6)
(8.0)
(0.5)
Relief for capitalised interest and revenue costs
(41.2)
(2.4)
(37.9)
(2.2)
Hybrid equity coupon payments
(18.2)
(1.0)
(18.4)
(1.0)
Expenses not deductible for tax purposes
16.6
0.9
15.2
0.9
Losses carried forward
14.6
0.8
(1.2)
(0.1)
Impact of foreign tax rates
(6.0)
(0.3)
(15.3)
(0.9)
Electricity Generator Levy not deductible for tax purposes
\u2013
\u2013
19.8
1.1
Capitalised revenue expenditure
(22.8)
(1.3)
\u2013
\u2013
Adjustments to tax charge in respect of previous years
(11.2)
(0.6)
(8.3)
(0.5)
Other items
(0.1)
\u2013
(3.7)
(0.1)
Reported current tax charge and effective rate
97.4
5.5
233.7
13.3
Depreciation in excess of capital allowances
278.4
15.9
217.8
12.4
Movement in provisions
(4.8)
(0.3)
4.4
0.2
Fair value movements on derivatives
(12.4)
(0.7)
(7.3)
(0.4)
Pension movements
10.0
0.6
8.0
0.5
Relief for capitalised interest and revenue costs
41.2
2.4
37.9
2.2
Adjustments to tax charge in respect of previous years
6.3
0.4
19.1
1.1
Capitalised revenue expenditure
22.8
1.3
\u2013
\u2013
Tax losses utilised
(13.4)
(0.8)
\u2013
\u2013
Other items
0.2
\u2013
4.4
0.1
Reported deferred tax charge and effective rate
328.3
18.8
284.3
16.1
Group tax charge and effective rate
425.7
24.3
518.0
29.4
As noted at note 3 to the accounts, the Group\u2019s results are reported on an \u201cadjusted\u201d basis in order to allow focus on underlying business
performance. The Adjusted Profit Before Tax is the measure utilised in calculation of the Group\u2019s \u201cadjusted effective rate of tax\u201d.
The Adjusted Current Tax Charge can be reconciled to the adjusted profit before tax as follows:
2025 2025
2026 2026 \u00a3m %
\u00a3m % (restated*) (restated*)
Adjusted Profit Before Tax
2,024.8
2,144.5
Tax on profit on ordinary activities at standard UK corporation tax rate
506.2
25.0
536.1
25.0
Tax effect of:
Capital allowances in excess of depreciation
(294.1)
(14.5)
(224.7)
(10.5)
Non-taxable (gain)/loss on sale of assets
(1.7)
(0.1)
7.6
0.4
Non qualifying depreciation
11.4
0.6
25.2
1.2
Adjustment for profit on internal trading
\u2013
\u2013
4.3
0.2
Movement in restructuring and settlement provisions
6.1
0.3
(2.9)
(0.1)
Pension movements
(10.0)
(0.5)
(8.0)
(0.4)
Relief for capitalised interest and revenue costs
(28.4)
(1.4)
(21.9)
(1.0)
Hybrid equity coupon payments
(18.2)
(0.9)
(18.4)
(0.9)
Expenses not deductible for tax purposes
11.4
0.6
8.4
0.4
Fair value movements on derivatives
\u2013
\u2013
9.9
0.5
Electricity Generator Levy not deductible for tax purposes
\u2013
\u2013
19.8
0.9
Discount on losses on Scottish Hydro Electric Transmission plc
(4.8)
(0.2)
(4.3)
(0.2)
Share-based payments
(0.4)
\u2013
(2.6)
(0.1)
Losses carried forward
28.9
1.4
\u2013
\u2013
Adjustments to tax charge in respect of previous years
(11.4)
(0.6)
(10.7)
(0.5)
Impact of foreign tax rates
(22.5)
(1.1)
(20.6)
(1.0)
Corporate interest restriction
19.9
1.0
\u2013
\u2013
Other
1.0
\u2013
0.7
\u2013
Adjusted Current Tax Charge and effective rate APM
193.4
9.6
297.9
13.9
* The comparative adjusted effective rate of tax been restated. See note 1.2.
The reconciling adjustments differ from those analysed in the Group tax charge reconciliation above because they include SSE\u2019s share of
associates and joint ventures, and are based on Adjusted Profit Before Tax.
The majority of the Group\u2019s profits are earned in the UK, with the standard rate of UK corporation tax being 25% for the year to 31 March 2026
(2025: 25%). Profits earned by the Group in the Republic of Ireland are taxable at either 12.5% or 25%, depending upon the nature of the income.
Capital allowances are tax reliefs provided in law for the expenditure the Group makes on property, plant and equipment. The rates are
determined by Parliament annually and spread the tax relief due over a number of years. This contrasts with the accounting treatment for such
spending, where the expenditure on property, plant and equipment is treated as an asset with the cost being depreciated over the useful life of
the asset, or impaired if the value of such assets is considered to have reduced materially.
The different accounting treatment of property, plant and equipment for tax and accounting purposes means that the taxable income of the
Group is not the same as the profit reported in the financial statements. The substantial reversals of impairments and impairments undertaken in
previous years in relation to certain property, plant and equipment assets, result in the depreciation or impairment charge to profit for the year
differing to the amount of capital allowances due to the Group.
Short term temporary differences arise on items such as provisions for restructuring costs and onerous contracts, and retirement benefit
obligations, because the treatment of such items is different for tax and accounting purposes. These differences usually reverse in the year
following that in which they arise, as is reflected in the deferred tax charge in these financial statements. Where interest charges or other costs
are capitalised in the accounts, tax relief is either given as the charges are incurred or when the costs are taken to the income statement.
As explained at Accompanying Information A1 and A6
, the Group measures its operating and financing derivatives at fair value under IFRS 9.
As a result of the Group\u2019s subsidiaries applying the HMRC\u2019s \u201cdisregard regulations\u201d, the vast majority of the re-measurement movements have
no current tax effect impacting only the deferred tax position.
As detailed at note 22
and explained in the Accompanying Information A1 , the Group has issued Hybrid equity securities which are treated
as a component of equity. While the coupon payments relating to these securities are treated as distributions to the holders of the equity
instruments, tax relief is allowed on the amount paid in the year. These tax credits are linked to the past transactions or events that support the
coupon payments and consequently the tax credits are reported in the income statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-691": { "value": "
10.1 Analysis of charge recognised in the income statement
2026
2025
Before Before
exceptional Exceptional exceptional Exceptional
items and items and items and items and
certain re- certain re- certain re- certain re-
measurements measurements Total measurements measurements Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Current tax
Corporation tax
141.8
(33.2)
108.6
247.3
(5.3)
242.0
Adjustments in respect of previous years
(11.2)
\u2013
(11.2)
(8.3)
\u2013
(8.3)
Total current tax
130.6
(33.2)
97.4
239.0
(5.3)
233.7
Deferred tax
Current year
345.3
(23.3)
322.0
293.6
(28.4)
265.2
Adjustments in respect of previous years
6.3
\u2013
6.3
19.1
\u2013
19.1
Total deferred tax
351.6
(23.3)
328.3
312.7
(28.4)
284.3
Total taxation charge/(credit)
482.2
(56.5)
425.7
551.7
(33.7)
518.0
The Group has separately recognised the tax effect of the exceptional items and certain re-measurements summarised above.
SSE continues to be accredited with the Fair Tax Mark. As a result, these financial statements include several areas of enhanced disclosure which
have been provided in order to develop stakeholder understanding of the tax the Group pays and the reported total taxation charge along with
additional commentary on the main reconciling items.
These can be seen at section A2
.
The majority of the Group\u2019s profits are earned in the UK, with the standard rate of UK corporation tax being 25% for the year to 31 March 2026
(2025: 25%). Profits earned by the Group in the Republic of Ireland are taxable at either 12.5% or 25%, depending upon the nature of the income.
While the Group has activities in other jurisdictions outside of the UK and Republic of Ireland, tax paid on those development activities is
currently immaterial.
Change in UK corporation tax rates
There are no announced or enacted changes in corporation tax rates in the year ended 31 March 2026.
Finance Act (No.2) 2023 introduced legislation in respect of Multinational Top-up Tax in line with OECD BEPS Pillar Two principles. Similar draft
legislation has been introduced in the Republic of Ireland and other EU jurisdictions. The Group has carried out a group wide tax rate review,
in line with the BEPS Pillar Two Legislation and guidance, and has found there is no material impact as tax rates in the countries in which the
Group operates exceed 15%. The Group has applied the exemption from recognising and disclosing information about deferred tax assets
and liabilities related to Pillar Two income taxes as required by the amendments to IAS 12 \u201cInternational Tax Reform \u2013 Pillar Two Model Rules\u201d,
which were issued in May 2023.
The Adjusted Current Tax Charge and the adjusted effective rate of tax, which are presented in order to best represent underlying performance
by making similar adjustments to the adjusted profit before tax measure, are arrived at after the following adjustments:
2025
2026 2026 \u00a3m 2025
\u00a3m % (restated*) %
Group tax charge and effective rate
425.7
24.3
518.0
29.4
Add: reported deferred tax charge and effective rate
(328.3)
(18.8)
(284.3)
(16.1)
Reported current tax charge and effective rate
97.4
5.5
233.7
13.3
Effect of adjusting items
(0.7)
(2.4)
Reported current tax charge and effective rate on adjusted basis
97.4
4.8
233.7
10.9
Add:
Share of current tax from joint ventures and associates
48.6
2.5
45.1
2.2
Current tax credit on exceptional items
33.2
1.6
5.3
0.2
Share of current tax attributable to non-controlling interests
14.2
0.7
13.8
0.6
Adjusted Current Tax Charge and effective rate APM
193.4
9.6
297.9
13.9
* The comparatives have been restated. See note 1.2.
Tax (credit)/charge recognised in other comprehensive income:
2026 2025
\u00a3m \u00a3m
Relating to:
Pension scheme actuarial movements
(20.1)
13.2
Cash flow and net investment hedge movements
(3.8)
11.3
(23.9)
24.5
All tax recognised through other comprehensive income is deferred tax. See further Taxation disclosures at A2 . 10.2 Deferred taxation The following are the deferred tax liabilities and assets recognised by the Group and movements thereon during the current and prior reporting periods:
Accelerated Fair value Retirement
capital gains/(losses) on benefit Decommissioning
allowances derivatives obligations liabilities Other Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 31 March 2024
1,479.3
33.5
105.4
(79.5)
(1.9)
1,536.8
Charge/(credit) to income statement
306.0
(5.0)
8.0
3.7
(28.4)
284.3
Transfer of deferred tax on derivatives
\u2013
(18.3)
\u2013
\u2013
18.3
\u2013
Decommissioning asset and liability presentation
under IAS 12
\u2013
\u2013
\u2013
(17.2)
17.2
\u2013
Charge to other comprehensive income
\u2013
11.3
13.2
\u2013
\u2013
24.5
Charge to equity
\u2013
\u2013
\u2013
\u2013
2.2
2.2
Exchange adjustment
(3.3)
\u2013
\u2013
\u2013
\u2013
(3.3)
At 31 March 2025
1,782.0
21.5
126.6
(93.0)
7.4
1,844.5
Charge/(credit) to income statement
347.5
(14.0)
10.0
(9.4)
(5.8)
328.3
Credit to other comprehensive income
\u2013
(3.8)
(20.1)
\u2013
\u2013
(23.9)
Charge to equity
\u2013
\u2013
\u2013
\u2013
(9.1)
(9.1)
Exchange adjustment
1.5
\u2013
\u2013
\u2013
0.2
1.7
At 31 March 2026
2,131.0
3.7
116.5
(102.4)
(7.3)
2,141.5
Certain deferred tax assets and liabilities have been offset, including the asset balances analysed in the tables above. The following is an analysis of the deferred tax balances (after offset) for financial reporting purposes:
2026 2025
\u00a3m \u00a3m
Deferred tax liabilities
2,303.6
2,000.9
Deferred tax assets
(162.1)
(156.4)
Net deferred tax liabilities
2,141.5
1,844.5
In total there are \u00a362.0m (2025: \u00a320.6m) of unrecognised deferred tax assets. The Group has not recognised a deferred tax asset of \u00a35.6m (2025: \u00a32.9m) on trading losses of \u00a345.1m (2025: \u00a323.7m) in the Republic of Ireland. The Group has not recognised deferred tax assets of \u00a356.4m (2025: \u00a317.7m) in respect of losses of \u00a3233.3m (2025: \u00a374.6m) primarily in Spain and Japan. These assets have not been recognised as the Group is uncertain that there will be sufficient future profits against which to utilise the assets. There are no impending time limits for expiry of the losses or allowances to which they relate. No deferred tax is recognised on the unremitted earnings of overseas subsidiaries, associates and joint ventures. As the earnings are continually reinvested by the Group, no tax is expected to be payable on them in the foreseeable future. Total unremitted earnings at 31 March 2026 were \u00a31,167.8m (2025: \u00a3971.1m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-647": { "value": "
11. Dividends and earnings per share
11.1 Ordinary dividends
Settled via Pence per Settled via
2026
Total
scrip ordinary
2025
Total
scrip Pence per
\u00a3m \u00a3m share \u00a3m \u00a3m ordinary share
Interim \u2013 year ended 31 March 2026
258.3
107.7
21.4
\u2013
\u2013
\u2013
Final \u2013 year ended 31 March 2025
475.8
25.3
43.0
\u2013
\u2013
\u2013
Interim \u2013 year ended 31 March 2025
\u2013
\u2013
\u2013
233.7
43.4
21.2
Final \u2013 year ended 31 March 2024
\u2013
\u2013
\u2013
437.3
225.5
40.0
734.1
133.0
671.0
268.9
The final dividend of 43.0p per ordinary share declared in respect of the financial year ended 31 March 2025 (2024: 40.0p) was approved at the
Annual General Meeting on 17 July 2025 and was paid to shareholders on 18 September 2025. Shareholders were able to elect to receive
ordinary shares credited as fully paid instead of the cash dividend under the terms of the Company\u2019s scrip dividend scheme.
The scrip dividend scheme allows investors the option to receive ordinary shares for every cash dividend entitlement where offered. Where the
scrip take-up exceeds 25% of the full year dividend in any given year, the Group's policy is to repurchase shares to reduce the dilutive effects to
a maximum of 25%. This policy is expected to be extended for the years to 31 March 2030 subject to shareholder approval at the Group\u2019s 2026
Annual General Meeting. The scrip dividend take-up for the prior financial year was 9.7%, which was below the 25.0% required by the share
buyback programme, therefore no share buybacks occurred during the current year. In the year ended 31 March 2025 3.8m shares were
repurchased for total consideration of \u00a371.7m (including stamp duty and commission).
An interim dividend of 21.4p per ordinary share (2025: 21.2p) was declared and paid on 30 January 2026 to those shareholders on the SSE plc
share register on 5 December 2025. Shareholders were able to elect to receive ordinary shares credited as fully paid instead of the interim cash
dividend under the terms of the Company\u2019s scrip dividend scheme.
The proposed final dividend of 47 .3p per ordinary share based on the number of issued ordinary shares at 31 March 2026 is subject to approval
by shareholders at the Annual General Meeting and has not been included as a liability in these financial statements. Based on shares in issue at
31 March 2026, this would equate to a final dividend of \u00a3574.9m.
11.2 Basic and Adjusted Earnings Per Share
The calculation of basic earnings per ordinary share at 31 March 2026 is based on the net profit attributable to ordinary shareholders and a
weighted average number of ordinary shares outstanding during the year ended 31 March 2026.
Adjusted Earnings Per Share has been calculated by excluding the charge for deferred tax, retained Gas Production decommissioning costs, the
depreciation charged on fair value uplifts, the share of profit attributable to non-controlling interests and the impact of exceptional items and
certain re-measurements (note 7
).
2026
2026
2025
2025
Earnings per
Earnings Earnings share
Earnings per share \u00a3m pence
\u00a3m pence (restated*) (restated*)
Basic earnings attributable to ordinary shareholders used to calculate Adjusted
EPS
1,208.7
105.5
1,189.4
108.2
Exceptional items and certain re-measurements attributable to ordinary
shareholders
247.8
21.6
341.4
31.1
Basic excluding exceptional items and certain re-measurements
1,456.5
127.1
1,530.8
139.3
Adjusted for:
Decommissioning Gas Production
(12.6)
(1.1)
(17.9)
(1.6)
Depreciation charge on fair value uplifts
20.3
1.8
20.1
1.8
Deferred tax (note 10.1)
351.6
30.7
312.7
28.4
Deferred tax from share of joint ventures and associates
2.6
0.2
(36.1)
(3.2)
Deferred tax on non-controlling interest
(64.5)
(5.7)
(41.5)
(3.8)
Interest attributable to non-controlling interest holders, net of tax
4.6
0.5
4.8
0.4
Adjusted APM
1,758.5
153.5
1,772.9
161.3
* The comparatives have been restated. See note 1.2.
Reported earnings per share
2026
2026
2025
2025
Earnings Earnings per
Earnings per share Earnings share
\u00a3m pence \u00a3m pence
Basic
1,208.7
105.5
1,189.4
108.2
Dilutive effect of outstanding share options
\u2013
( 0 . 1 )
\u2013
( 0 . 1 )
Diluted
1,208.7
105.4
1,189.4
108.1
The weighted average number of shares used in each calculation is as follows:
31 March 31 March
2026 2025
Number of Number of
shares shares
(millions) (millions)
For basic and Adjusted Earnings Per Share
1,145.4
1,099.2
Effect of exercise of share options
1.8
1.1
For diluted earnings per share
1,147.2
1,100.3
11.3 Dividend cover
The Group\u2019s adjusted dividend cover metric is calculated by comparing Adjusted Earnings Per Share to the projected dividend per share payable
to ordinary shareholders.
2026 2026 2025 2025
Earnings per Dividend per 2026 Earnings per Dividend per 2025
share share Dividend cover share share Dividend cover
(pence) (pence) (times) (pence) (pence) (times)
Reported earnings per share
105.5
68.7
1.54
108.2
64.2
1.69
Adjusted Earnings Per Share APM (restated*)
153.5
68.7
2.23
161.3
64.2
2.51
* The comparatives have been restated. See note 1.2.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-692": { "value": "11. Dividends and earnings per share 11.1 Ordinary dividends
Settled via Pence per Settled via
2026
Total
scrip ordinary
2025
Total
scrip Pence per
\u00a3m \u00a3m share \u00a3m \u00a3m ordinary share
Interim \u2013 year ended 31 March 2026
258.3
107.7
21.4
\u2013
\u2013
\u2013
Final \u2013 year ended 31 March 2025
475.8
25.3
43.0
\u2013
\u2013
\u2013
Interim \u2013 year ended 31 March 2025
\u2013
\u2013
\u2013
233.7
43.4
21.2
Final \u2013 year ended 31 March 2024
\u2013
\u2013
\u2013
437.3
225.5
40.0
734.1
133.0
671.0
268.9
The final dividend of 43.0p per ordinary share declared in respect of the financial year ended 31 March 2025 (2024: 40.0p) was approved at the Annual General Meeting on 17 July 2025 and was paid to shareholders on 18 September 2025. Shareholders were able to elect to receive ordinary shares credited as fully paid instead of the cash dividend under the terms of the Company\u2019s scrip dividend scheme. The scrip dividend scheme allows investors the option to receive ordinary shares for every cash dividend entitlement where offered. Where the scrip take-up exceeds 25% of the full year dividend in any given year, the Group's policy is to repurchase shares to reduce the dilutive effects to a maximum of 25%. This policy is expected to be extended for the years to 31 March 2030 subject to shareholder approval at the Group\u2019s 2026 Annual General Meeting. The scrip dividend take-up for the prior financial year was 9.7%, which was below the 25.0% required by the share buyback programme, therefore no share buybacks occurred during the current year. In the year ended 31 March 2025 3.8m shares were repurchased for total consideration of \u00a371.7m (including stamp duty and commission). An interim dividend of 21.4p per ordinary share (2025: 21.2p) was declared and paid on 30 January 2026 to those shareholders on the SSE plc share register on 5 December 2025. Shareholders were able to elect to receive ordinary shares credited as fully paid instead of the interim cash dividend under the terms of the Company\u2019s scrip dividend scheme. The proposed final dividend of 47 .3p per ordinary share based on the number of issued ordinary shares at 31 March 2026 is subject to approval by shareholders at the Annual General Meeting and has not been included as a liability in these financial statements. Based on shares in issue at 31 March 2026, this would equate to a final dividend of \u00a3574.9m. 11.2 Basic and Adjusted Earnings Per Share The calculation of basic earnings per ordinary share at 31 March 2026 is based on the net profit attributable to ordinary shareholders and a weighted average number of ordinary shares outstanding during the year ended 31 March 2026. Adjusted Earnings Per Share has been calculated by excluding the charge for deferred tax, retained Gas Production decommissioning costs, the depreciation charged on fair value uplifts, the share of profit attributable to non-controlling interests and the impact of exceptional items and certain re-measurements (note 7 ).
2026
2026
2025
2025
Earnings per
Earnings Earnings share
Earnings per share \u00a3m pence
\u00a3m pence (restated*) (restated*)
Basic earnings attributable to ordinary shareholders used to calculate Adjusted
EPS
1,208.7
105.5
1,189.4
108.2
Exceptional items and certain re-measurements attributable to ordinary
shareholders
247.8
21.6
341.4
31.1
Basic excluding exceptional items and certain re-measurements
1,456.5
127.1
1,530.8
139.3
Adjusted for:
Decommissioning Gas Production
(12.6)
(1.1)
(17.9)
(1.6)
Depreciation charge on fair value uplifts
20.3
1.8
20.1
1.8
Deferred tax (note 10.1)
351.6
30.7
312.7
28.4
Deferred tax from share of joint ventures and associates
2.6
0.2
(36.1)
(3.2)
Deferred tax on non-controlling interest
(64.5)
(5.7)
(41.5)
(3.8)
Interest attributable to non-controlling interest holders, net of tax
4.6
0.5
4.8
0.4
Adjusted APM
1,758.5
153.5
1,772.9
161.3
* The comparatives have been restated. See note 1.2. Reported earnings per share
2026
2026
2025
2025
Earnings Earnings per
Earnings per share Earnings share
\u00a3m pence \u00a3m pence
Basic
1,208.7
105.5
1,189.4
108.2
Dilutive effect of outstanding share options
\u2013
( 0 . 1 )
\u2013
( 0 . 1 )
Diluted
1,208.7
105.4
1,189.4
108.1
The weighted average number of shares used in each calculation is as follows:
31 March 31 March
2026 2025
Number of Number of
shares shares
(millions) (millions)
For basic and Adjusted Earnings Per Share
1,145.4
1,099.2
Effect of exercise of share options
1.8
1.1
For diluted earnings per share
1,147.2
1,100.3
11.3 Dividend cover The Group\u2019s adjusted dividend cover metric is calculated by comparing Adjusted Earnings Per Share to the projected dividend per share payable to ordinary shareholders.
2026 2026 2025 2025
Earnings per Dividend per 2026 Earnings per Dividend per 2025
share share Dividend cover share share Dividend cover
(pence) (pence) (times) (pence) (pence) (times)
Reported earnings per share
105.5
68.7
1.54
108.2
64.2
1.69
Adjusted Earnings Per Share APM (restated*)
153.5
68.7
2.23
161.3
64.2
2.51
* The comparatives have been restated. See note 1.2.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-727": { "value": "0.214", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-726": { "value": "0.473", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-648": { "value": "
12. Acquisitions and disposals
12.1 Acquisitions
Current year acquisitions
There have been no significant acquisitions in the current year.
Prior year acquisitions
During the year ended 31 March 2025, the Group made small asset acquisitions (of special purpose vehicles as opposed to businesses) for cash
consideration of \u00a317.1m.
12.2 Disposals
Current and prior year disposals
There have been no significant disposals in the current and prior year.
12.3 Held for sale assets and liabilities
During the year ended 31 March 2026, the Group commenced a process to divest its renewable platform in France and a solar development
asset in Greece. The Group has assessed that these divestments meet the held for sale IFRS 5 definition and accordingly the below associated
assets and liabilities are presented as held for sale:
31 March
2026
\u00a3m
Property, plant and equipment
34.1
Intangible assets
8.3
Inventories
0.4
Trade and other receivables
3.5
Total assets
46.3
Trade and other payables
(0.2)
Provisions
(1.3)
Loans and other borrowings
(1.5)
Total liabilities
(3.0)
Net assets
43.3
The aggregate pre-tax profit contribution of the held for sale businesses in the year to 31 March 2026 was a profit of \u00a31.0m. There are no
accumulated gains or losses recognised in other comprehensive income related to assets and liabilities held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-649": { "value": "
13. Intangible assets
Software
Allowances and Development and other
Goodwill certificates assets intangible assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
1,130.6
982.2
990.6
1,370.1
4,473.5
Additions
\u2013
603.7
307.1
134.7
1,045.5
Transfer (to)/from property plant and equipment (note 14)
\u2013
\u2013
(170.0)
3.1
(166.9)
Disposals/utilised
(0.5)
(965.6)
(22.1)
(25.6)
(1,013.8)
Exchange adjustments
(13.9)
(0.1)
(8.8)
2.2
(20.6)
At 31 March 2025
1,116.2
620.2
1,096.8
1,484.5
4,317.7
Additions
\u2013
500.6
178.3
118.3
797.2
Transfer to property plant and equipment (note 14)
\u2013
\u2013
(59.6)
(8.9)
(68.5)
Disposals/utilised
\u2013
(366.0)
(22.7)
(12.2)
(400.9)
Transfer to asset held for sale (note 12)
\u2013
\u2013
(10.2)
\u2013
(10.2)
Exchange adjustments
11.2
\u2013
6.9
1.6
19.7
At 31 March 2026
1,127.4
754.8
1,189.5
1,583.3
4,655.0
Aggregate amortisation and impairment:
At 31 March 2024
(192.9)
(227.5)
(171.4)
(802.4)
(1,394.2)
Charge for the year
\u2013
\u2013
\u2013
(89.8)
(89.8)
Disposals/utilised
\u2013
\u2013
\u2013
21.3
21.3
Exceptional impairment charge
(195.2)
\u2013
(74.8)
(3.8)
(273.8)
Non-exceptional impairment charge
\u2013
\u2013
(10.9)
(8.1)
(19.0)
Exchange adjustments
(0.4)
\u2013
(0.3)
1.7
1.0
At 31 March 2025
(388.5)
(227.5)
(257.4)
(881.1)
(1,754.5)
Charge for the year
\u2013
\u2013
\u2013
(113.6)
(113.6)
Disposals/utilised
\u2013
\u2013
\u2013
1.9
1.9
Exceptional impairment charge
(i)
\u2013
\u2013
(4.2)
\u2013
(4.2)
Non-exceptional impairment charge
(ii)
\u2013
\u2013
(6.3)
(3.0)
(9.3)
Transfer to asset held for sale (note 12)
\u2013
\u2013
1.9
\u2013
1.9
Exchange adjustments
(0.8)
\u2013
\u2013
\u2013
(0.8)
At 31 March 2026
(389.3)
(227.5)
(266.0)
(995.8)
(1,878.6)
Carrying amount:
At 31 March 2026
738.1
527.3
923.5
587.5
2,776.4
At 31 March 2025
727.7
392.7
839.4
603.4
2,563.2
At 1 April 2024
937.7
754.7
819.2
567.7
3,079.3
(i) The exceptional impairment charge recognised during the current year primarily relates to the impairment of assets associated with standalone hydrogen production development projects
in SSE Thermal.
(ii) The non-exceptional impairments in both years relate to assets where future development became uncertain or untenable in the year. The impairment of these items does not meet the
Group\u2019s definition of an exceptional item, therefore they are included in the adjusted and reported results of the Group.
Intangible assets have been analysed as current and non-current as follows:
2026 2025
\u00a3m \u00a3m
Current
527.3
392.7
Non-current
2,249.1
2,170.5
2,776.4
2,563.2
(i) Goodwill
At inception, goodwill arising from business combinations is allocated to cash-generating units (CGUs) or groups of CGUs for impairment
testing purposes. Certain goodwill valuations have changed in the current year following retranslation. Commentary on the impairment testing
of the related CGUs, with the exception of two historic balances totalling \u00a320.1m, is included in note 15
.
A summary of the goodwill allocated to CGUs and the Group\u2019s operating segments is presented below:
2026 2025
CGU group
Operating Segment
\u00a3m \u00a3m
Great Britain and Ireland wind farms
SSE Renewables
291.8
287.0
SSE Pacifico
1
SSE Renewables
182.9
187.3
SSE Southern Europe
2
SSE Renewables
243.3
233.3
Energy Solutions
3
Energy Customer Solutions
11.9
11.9
Ireland Supply
4
Energy Customer Solutions
8.2
8.2
738.1
727.7
1 Relates to the acquisition on 29 October 2021 of an 80% equity interest in the Group\u2019s Japanese offshore wind development platform.
2 The SSE Southern Europe CGU relates to the acquisition on 1 September 2022 of the Group\u2019s renewable platform in Spain, France, Greece and Italy.
3 Energy Solutions is the remaining goodwill that arose on the acquisition of The Energy Solutions Group Limited.
4 The value associated with the Ireland supply goodwill represents the difference between the fair value attributed to the Northern Ireland based Phoenix Energy business acquired in 2012 and
the book value of those assets.
(ii) Allowances and certificates
Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased renewable obligations certificates
(\u201cROCs\u201d). These allowances and certificates will be utilised in settlement of environmental obligations incurred by the Group\u2019s SSE Thermal and
Energy Customer Solutions supply business and are therefore distinct from allowances and certificates held in excess of the Group\u2019s
environmental obligations which are recorded within inventories.
(iii) Development assets
Development costs primarily relate to the design, construction and testing of Thermal, Renewable and Solar and Battery assets, which the
Group believes will generate probable future economic benefits. Costs capitalised as development intangibles include options over land rights,
planning application costs, environmental impact studies and other costs incurred in bringing wind farms and other development projects to
the consented stage. These may be costs incurred directly or at a cost as part of the fair value attribution on acquisition.
At the point the development reaches the consent stage and is approved for construction, the carrying value is transferred to property, plant
and equipment (note 14
). At the point a project is no longer expected to reach the consented stage, the carrying amount of the project is
impaired. During the year the Group has recognised exceptional impairment charges of \u00a34.2m (2025: \u00a374.8m) in relation to standalone
hydrogen production development projects in SSE Thermal (note 7
) and \u00a36.3m (2025: \u00a310.9m) of non-exceptional impairment charges
relating to projects that are not expected to reach the construction phase.
(iv) Software assets
Software assets include application software license fees, software development work, software upgrades and purchased PC software
packages. The Group also has a number of contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing
Arrangements which permit access to vendor-hosted software and platform services over the term of the arrangement. Where the Group does
not control the underlying assets in these arrangements, costs are expensed as incurred. The Group also incurs implementation costs in respect
of these contracts. Implementation costs are capitalised as intangible assets where costs meet the definition and recognition criteria of an
intangible asset under IAS 38 by being separable and controlled by the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-750": { "value": "13. Intangible assets
Software
Allowances and Development and other
Goodwill certificates assets intangible assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
1,130.6
982.2
990.6
1,370.1
4,473.5
Additions
\u2013
603.7
307.1
134.7
1,045.5
Transfer (to)/from property plant and equipment (note 14)
\u2013
\u2013
(170.0)
3.1
(166.9)
Disposals/utilised
(0.5)
(965.6)
(22.1)
(25.6)
(1,013.8)
Exchange adjustments
(13.9)
(0.1)
(8.8)
2.2
(20.6)
At 31 March 2025
1,116.2
620.2
1,096.8
1,484.5
4,317.7
Additions
\u2013
500.6
178.3
118.3
797.2
Transfer to property plant and equipment (note 14)
\u2013
\u2013
(59.6)
(8.9)
(68.5)
Disposals/utilised
\u2013
(366.0)
(22.7)
(12.2)
(400.9)
Transfer to asset held for sale (note 12)
\u2013
\u2013
(10.2)
\u2013
(10.2)
Exchange adjustments
11.2
\u2013
6.9
1.6
19.7
At 31 March 2026
1,127.4
754.8
1,189.5
1,583.3
4,655.0
Aggregate amortisation and impairment:
At 31 March 2024
(192.9)
(227.5)
(171.4)
(802.4)
(1,394.2)
Charge for the year
\u2013
\u2013
\u2013
(89.8)
(89.8)
Disposals/utilised
\u2013
\u2013
\u2013
21.3
21.3
Exceptional impairment charge
(195.2)
\u2013
(74.8)
(3.8)
(273.8)
Non-exceptional impairment charge
\u2013
\u2013
(10.9)
(8.1)
(19.0)
Exchange adjustments
(0.4)
\u2013
(0.3)
1.7
1.0
At 31 March 2025
(388.5)
(227.5)
(257.4)
(881.1)
(1,754.5)
Charge for the year
\u2013
\u2013
\u2013
(113.6)
(113.6)
Disposals/utilised
\u2013
\u2013
\u2013
1.9
1.9
Exceptional impairment charge
(i)
\u2013
\u2013
(4.2)
\u2013
(4.2)
Non-exceptional impairment charge
(ii)
\u2013
\u2013
(6.3)
(3.0)
(9.3)
Transfer to asset held for sale (note 12)
\u2013
\u2013
1.9
\u2013
1.9
Exchange adjustments
(0.8)
\u2013
\u2013
\u2013
(0.8)
At 31 March 2026
(389.3)
(227.5)
(266.0)
(995.8)
(1,878.6)
Carrying amount:
At 31 March 2026
738.1
527.3
923.5
587.5
2,776.4
At 31 March 2025
727.7
392.7
839.4
603.4
2,563.2
At 1 April 2024
937.7
754.7
819.2
567.7
3,079.3
(i) The exceptional impairment charge recognised during the current year primarily relates to the impairment of assets associated with standalone hydrogen production development projects in SSE Thermal. (ii) The non-exceptional impairments in both years relate to assets where future development became uncertain or untenable in the year. The impairment of these items does not meet the Group\u2019s definition of an exceptional item, therefore they are included in the adjusted and reported results of the Group. Intangible assets have been analysed as current and non-current as follows:
2026 2025
\u00a3m \u00a3m
Current
527.3
392.7
Non-current
2,249.1
2,170.5
2,776.4
2,563.2
(i) Goodwill At inception, goodwill arising from business combinations is allocated to cash-generating units (CGUs) or groups of CGUs for impairment testing purposes. Certain goodwill valuations have changed in the current year following retranslation. Commentary on the impairment testing of the related CGUs, with the exception of two historic balances totalling \u00a320.1m, is included in note 15 . A summary of the goodwill allocated to CGUs and the Group\u2019s operating segments is presented below:
2026 2025
CGU group
Operating Segment
\u00a3m \u00a3m
Great Britain and Ireland wind farms
SSE Renewables
291.8
287.0
SSE Pacifico
1
SSE Renewables
182.9
187.3
SSE Southern Europe
2
SSE Renewables
243.3
233.3
Energy Solutions
3
Energy Customer Solutions
11.9
11.9
Ireland Supply
4
Energy Customer Solutions
8.2
8.2
738.1
727.7
1 Relates to the acquisition on 29 October 2021 of an 80% equity interest in the Group\u2019s Japanese offshore wind development platform. 2 The SSE Southern Europe CGU relates to the acquisition on 1 September 2022 of the Group\u2019s renewable platform in Spain, France, Greece and Italy. 3 Energy Solutions is the remaining goodwill that arose on the acquisition of The Energy Solutions Group Limited. 4 The value associated with the Ireland supply goodwill represents the difference between the fair value attributed to the Northern Ireland based Phoenix Energy business acquired in 2012 and the book value of those assets. (ii) Allowances and certificates Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased renewable obligations certificates (\u201cROCs\u201d). These allowances and certificates will be utilised in settlement of environmental obligations incurred by the Group\u2019s SSE Thermal and Energy Customer Solutions supply business and are therefore distinct from allowances and certificates held in excess of the Group\u2019s environmental obligations which are recorded within inventories. (iii) Development assets Development costs primarily relate to the design, construction and testing of Thermal, Renewable and Solar and Battery assets, which the Group believes will generate probable future economic benefits. Costs capitalised as development intangibles include options over land rights, planning application costs, environmental impact studies and other costs incurred in bringing wind farms and other development projects to the consented stage. These may be costs incurred directly or at a cost as part of the fair value attribution on acquisition. At the point the development reaches the consent stage and is approved for construction, the carrying value is transferred to property, plant and equipment (note 14 ). At the point a project is no longer expected to reach the consented stage, the carrying amount of the project is impaired. During the year the Group has recognised exceptional impairment charges of \u00a34.2m (2025: \u00a374.8m) in relation to standalone hydrogen production development projects in SSE Thermal (note 7 ) and \u00a36.3m (2025: \u00a310.9m) of non-exceptional impairment charges relating to projects that are not expected to reach the construction phase. (iv) Software assets Software assets include application software license fees, software development work, software upgrades and purchased PC software packages. The Group also has a number of contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements which permit access to vendor-hosted software and platform services over the term of the arrangement. Where the Group does not control the underlying assets in these arrangements, costs are expensed as incurred. The Group also incurs implementation costs in respect of these contracts. Implementation costs are capitalised as intangible assets where costs meet the definition and recognition criteria of an intangible asset under IAS 38 by being separable and controlled by the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-728": { "value": "13. Intangible assets
Software
Allowances and Development and other
Goodwill certificates assets intangible assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
1,130.6
982.2
990.6
1,370.1
4,473.5
Additions
\u2013
603.7
307.1
134.7
1,045.5
Transfer (to)/from property plant and equipment (note 14)
\u2013
\u2013
(170.0)
3.1
(166.9)
Disposals/utilised
(0.5)
(965.6)
(22.1)
(25.6)
(1,013.8)
Exchange adjustments
(13.9)
(0.1)
(8.8)
2.2
(20.6)
At 31 March 2025
1,116.2
620.2
1,096.8
1,484.5
4,317.7
Additions
\u2013
500.6
178.3
118.3
797.2
Transfer to property plant and equipment (note 14)
\u2013
\u2013
(59.6)
(8.9)
(68.5)
Disposals/utilised
\u2013
(366.0)
(22.7)
(12.2)
(400.9)
Transfer to asset held for sale (note 12)
\u2013
\u2013
(10.2)
\u2013
(10.2)
Exchange adjustments
11.2
\u2013
6.9
1.6
19.7
At 31 March 2026
1,127.4
754.8
1,189.5
1,583.3
4,655.0
Aggregate amortisation and impairment:
At 31 March 2024
(192.9)
(227.5)
(171.4)
(802.4)
(1,394.2)
Charge for the year
\u2013
\u2013
\u2013
(89.8)
(89.8)
Disposals/utilised
\u2013
\u2013
\u2013
21.3
21.3
Exceptional impairment charge
(195.2)
\u2013
(74.8)
(3.8)
(273.8)
Non-exceptional impairment charge
\u2013
\u2013
(10.9)
(8.1)
(19.0)
Exchange adjustments
(0.4)
\u2013
(0.3)
1.7
1.0
At 31 March 2025
(388.5)
(227.5)
(257.4)
(881.1)
(1,754.5)
Charge for the year
\u2013
\u2013
\u2013
(113.6)
(113.6)
Disposals/utilised
\u2013
\u2013
\u2013
1.9
1.9
Exceptional impairment charge
(i)
\u2013
\u2013
(4.2)
\u2013
(4.2)
Non-exceptional impairment charge
(ii)
\u2013
\u2013
(6.3)
(3.0)
(9.3)
Transfer to asset held for sale (note 12)
\u2013
\u2013
1.9
\u2013
1.9
Exchange adjustments
(0.8)
\u2013
\u2013
\u2013
(0.8)
At 31 March 2026
(389.3)
(227.5)
(266.0)
(995.8)
(1,878.6)
Carrying amount:
At 31 March 2026
738.1
527.3
923.5
587.5
2,776.4
At 31 March 2025
727.7
392.7
839.4
603.4
2,563.2
At 1 April 2024
937.7
754.7
819.2
567.7
3,079.3
(i) The exceptional impairment charge recognised during the current year primarily relates to the impairment of assets associated with standalone hydrogen production development projects in SSE Thermal. (ii) The non-exceptional impairments in both years relate to assets where future development became uncertain or untenable in the year. The impairment of these items does not meet the Group\u2019s definition of an exceptional item, therefore they are included in the adjusted and reported results of the Group. Intangible assets have been analysed as current and non-current as follows:
2026 2025
\u00a3m \u00a3m
Current
527.3
392.7
Non-current
2,249.1
2,170.5
2,776.4
2,563.2
(i) Goodwill At inception, goodwill arising from business combinations is allocated to cash-generating units (CGUs) or groups of CGUs for impairment testing purposes. Certain goodwill valuations have changed in the current year following retranslation. Commentary on the impairment testing of the related CGUs, with the exception of two historic balances totalling \u00a320.1m, is included in note 15 . A summary of the goodwill allocated to CGUs and the Group\u2019s operating segments is presented below:
2026 2025
CGU group
Operating Segment
\u00a3m \u00a3m
Great Britain and Ireland wind farms
SSE Renewables
291.8
287.0
SSE Pacifico
1
SSE Renewables
182.9
187.3
SSE Southern Europe
2
SSE Renewables
243.3
233.3
Energy Solutions
3
Energy Customer Solutions
11.9
11.9
Ireland Supply
4
Energy Customer Solutions
8.2
8.2
738.1
727.7
1 Relates to the acquisition on 29 October 2021 of an 80% equity interest in the Group\u2019s Japanese offshore wind development platform. 2 The SSE Southern Europe CGU relates to the acquisition on 1 September 2022 of the Group\u2019s renewable platform in Spain, France, Greece and Italy. 3 Energy Solutions is the remaining goodwill that arose on the acquisition of The Energy Solutions Group Limited. 4 The value associated with the Ireland supply goodwill represents the difference between the fair value attributed to the Northern Ireland based Phoenix Energy business acquired in 2012 and the book value of those assets. (ii) Allowances and certificates Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased renewable obligations certificates (\u201cROCs\u201d). These allowances and certificates will be utilised in settlement of environmental obligations incurred by the Group\u2019s SSE Thermal and Energy Customer Solutions supply business and are therefore distinct from allowances and certificates held in excess of the Group\u2019s environmental obligations which are recorded within inventories. (iii) Development assets Development costs primarily relate to the design, construction and testing of Thermal, Renewable and Solar and Battery assets, which the Group believes will generate probable future economic benefits. Costs capitalised as development intangibles include options over land rights, planning application costs, environmental impact studies and other costs incurred in bringing wind farms and other development projects to the consented stage. These may be costs incurred directly or at a cost as part of the fair value attribution on acquisition. At the point the development reaches the consent stage and is approved for construction, the carrying value is transferred to property, plant and equipment (note 14 ). At the point a project is no longer expected to reach the consented stage, the carrying amount of the project is impaired. During the year the Group has recognised exceptional impairment charges of \u00a34.2m (2025: \u00a374.8m) in relation to standalone hydrogen production development projects in SSE Thermal (note 7 ) and \u00a36.3m (2025: \u00a310.9m) of non-exceptional impairment charges relating to projects that are not expected to reach the construction phase. (iv) Software assets Software assets include application software license fees, software development work, software upgrades and purchased PC software packages. The Group also has a number of contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements which permit access to vendor-hosted software and platform services over the term of the arrangement. Where the Group does not control the underlying assets in these arrangements, costs are expensed as incurred. The Group also incurs implementation costs in respect of these contracts. Implementation costs are capitalised as intangible assets where costs meet the definition and recognition criteria of an intangible asset under IAS 38 by being separable and controlled by the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-693": { "value": "13. Intangible assets
Software
Allowances and Development and other
Goodwill certificates assets intangible assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
1,130.6
982.2
990.6
1,370.1
4,473.5
Additions
\u2013
603.7
307.1
134.7
1,045.5
Transfer (to)/from property plant and equipment (note 14)
\u2013
\u2013
(170.0)
3.1
(166.9)
Disposals/utilised
(0.5)
(965.6)
(22.1)
(25.6)
(1,013.8)
Exchange adjustments
(13.9)
(0.1)
(8.8)
2.2
(20.6)
At 31 March 2025
1,116.2
620.2
1,096.8
1,484.5
4,317.7
Additions
\u2013
500.6
178.3
118.3
797.2
Transfer to property plant and equipment (note 14)
\u2013
\u2013
(59.6)
(8.9)
(68.5)
Disposals/utilised
\u2013
(366.0)
(22.7)
(12.2)
(400.9)
Transfer to asset held for sale (note 12)
\u2013
\u2013
(10.2)
\u2013
(10.2)
Exchange adjustments
11.2
\u2013
6.9
1.6
19.7
At 31 March 2026
1,127.4
754.8
1,189.5
1,583.3
4,655.0
Aggregate amortisation and impairment:
At 31 March 2024
(192.9)
(227.5)
(171.4)
(802.4)
(1,394.2)
Charge for the year
\u2013
\u2013
\u2013
(89.8)
(89.8)
Disposals/utilised
\u2013
\u2013
\u2013
21.3
21.3
Exceptional impairment charge
(195.2)
\u2013
(74.8)
(3.8)
(273.8)
Non-exceptional impairment charge
\u2013
\u2013
(10.9)
(8.1)
(19.0)
Exchange adjustments
(0.4)
\u2013
(0.3)
1.7
1.0
At 31 March 2025
(388.5)
(227.5)
(257.4)
(881.1)
(1,754.5)
Charge for the year
\u2013
\u2013
\u2013
(113.6)
(113.6)
Disposals/utilised
\u2013
\u2013
\u2013
1.9
1.9
Exceptional impairment charge
(i)
\u2013
\u2013
(4.2)
\u2013
(4.2)
Non-exceptional impairment charge
(ii)
\u2013
\u2013
(6.3)
(3.0)
(9.3)
Transfer to asset held for sale (note 12)
\u2013
\u2013
1.9
\u2013
1.9
Exchange adjustments
(0.8)
\u2013
\u2013
\u2013
(0.8)
At 31 March 2026
(389.3)
(227.5)
(266.0)
(995.8)
(1,878.6)
Carrying amount:
At 31 March 2026
738.1
527.3
923.5
587.5
2,776.4
At 31 March 2025
727.7
392.7
839.4
603.4
2,563.2
At 1 April 2024
937.7
754.7
819.2
567.7
3,079.3
(i) The exceptional impairment charge recognised during the current year primarily relates to the impairment of assets associated with standalone hydrogen production development projects in SSE Thermal. (ii) The non-exceptional impairments in both years relate to assets where future development became uncertain or untenable in the year. The impairment of these items does not meet the Group\u2019s definition of an exceptional item, therefore they are included in the adjusted and reported results of the Group. Intangible assets have been analysed as current and non-current as follows:
2026 2025
\u00a3m \u00a3m
Current
527.3
392.7
Non-current
2,249.1
2,170.5
2,776.4
2,563.2
(i) Goodwill At inception, goodwill arising from business combinations is allocated to cash-generating units (CGUs) or groups of CGUs for impairment testing purposes. Certain goodwill valuations have changed in the current year following retranslation. Commentary on the impairment testing of the related CGUs, with the exception of two historic balances totalling \u00a320.1m, is included in note 15 . A summary of the goodwill allocated to CGUs and the Group\u2019s operating segments is presented below:
2026 2025
CGU group
Operating Segment
\u00a3m \u00a3m
Great Britain and Ireland wind farms
SSE Renewables
291.8
287.0
SSE Pacifico
1
SSE Renewables
182.9
187.3
SSE Southern Europe
2
SSE Renewables
243.3
233.3
Energy Solutions
3
Energy Customer Solutions
11.9
11.9
Ireland Supply
4
Energy Customer Solutions
8.2
8.2
738.1
727.7
1 Relates to the acquisition on 29 October 2021 of an 80% equity interest in the Group\u2019s Japanese offshore wind development platform. 2 The SSE Southern Europe CGU relates to the acquisition on 1 September 2022 of the Group\u2019s renewable platform in Spain, France, Greece and Italy. 3 Energy Solutions is the remaining goodwill that arose on the acquisition of The Energy Solutions Group Limited. 4 The value associated with the Ireland supply goodwill represents the difference between the fair value attributed to the Northern Ireland based Phoenix Energy business acquired in 2012 and the book value of those assets. (ii) Allowances and certificates Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased renewable obligations certificates (\u201cROCs\u201d). These allowances and certificates will be utilised in settlement of environmental obligations incurred by the Group\u2019s SSE Thermal and Energy Customer Solutions supply business and are therefore distinct from allowances and certificates held in excess of the Group\u2019s environmental obligations which are recorded within inventories. (iii) Development assets Development costs primarily relate to the design, construction and testing of Thermal, Renewable and Solar and Battery assets, which the Group believes will generate probable future economic benefits. Costs capitalised as development intangibles include options over land rights, planning application costs, environmental impact studies and other costs incurred in bringing wind farms and other development projects to the consented stage. These may be costs incurred directly or at a cost as part of the fair value attribution on acquisition. At the point the development reaches the consent stage and is approved for construction, the carrying value is transferred to property, plant and equipment (note 14 ). At the point a project is no longer expected to reach the consented stage, the carrying amount of the project is impaired. During the year the Group has recognised exceptional impairment charges of \u00a34.2m (2025: \u00a374.8m) in relation to standalone hydrogen production development projects in SSE Thermal (note 7 ) and \u00a36.3m (2025: \u00a310.9m) of non-exceptional impairment charges relating to projects that are not expected to reach the construction phase. (iv) Software assets Software assets include application software license fees, software development work, software upgrades and purchased PC software packages. The Group also has a number of contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements which permit access to vendor-hosted software and platform services over the term of the arrangement. Where the Group does not control the underlying assets in these arrangements, costs are expensed as incurred. The Group also incurs implementation costs in respect of these contracts. Implementation costs are capitalised as intangible assets where costs meet the definition and recognition criteria of an intangible asset under IAS 38 by being separable and controlled by the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-777": { "value": "(iii) Development assets Development costs primarily relate to the design, construction and testing of Thermal, Renewable and Solar and Battery assets, which the Group believes will generate probable future economic benefits. Costs capitalised as development intangibles include options over land rights, planning application costs, environmental impact studies and other costs incurred in bringing wind farms and other development projects to the consented stage. These may be costs incurred directly or at a cost as part of the fair value attribution on acquisition. At the point the development reaches the consent stage and is approved for construction, the carrying value is transferred to property, plant and equipment (note 14 ). At the point a project is no longer expected to reach the consented stage, the carrying amount of the project is impaired. During the year the Group has recognised exceptional impairment charges of \u00a34.2m (2025: \u00a374.8m) in relation to standalone hydrogen production development projects in SSE Thermal (note 7 ) and \u00a36.3m (2025: \u00a310.9m) of non-exceptional impairment charges relating to projects that are not expected to reach the construction phase. ", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-650": { "value": "
14. Property, plant and equipment
Renewable
Thermal power power Distribution Transmission
generation generation network network Land and Assets under
assets
(i)
assets
(i)
assets assets buildings construction Other assets Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost:
At 31 March 2024
3,633.9
4,673.1
10,563.9
6,417.0
629.1
1,263.9
1,428.3
28,609.2
Additions
33.9
20.5
103.3
1.7
77.2
2,503.1
51.8
2,791.5
Adjustment to decommissioning asset
(12.8)
(2.5)
\u2013
\u2013
\u2013
\u2013
(3.6)
(18.9)
Transfer from intangible assets
(note 13)
(ii)
\u2013
\u2013
\u2013
\u2013
\u2013
1 7 0 . 0
( 3 . 1 )
1 6 6 . 9
Transfer from assets under
construction
(15.8)
103.2
579.9
1,243.7
16.6
(1,991.3)
63.7
\u2013
Disposals
(iv)
(0.1)
\u2013
(2.0)
\u2013
(10.6)
(17.7)
(10.4)
(40.8)
Exchange rate adjustments
(10.5)
(18.4)
\u2013
\u2013
(1.6)
(6.3)
(0.3)
(37.1)
At 31 March 2025
3,628.6
4,775.9
11,245.1
7,662.4
710.7
1,921.7
1,526.4
31,470.8
Additions
6.0
3.0
\u2013
\u2013
33.7
3,877.2
63.6
3,983.5
Adjustment to decommissioning asset
3.4
7.5
\u2013
\u2013
\u2013
\u2013
13.0
23.9
Transfer from intangible assets
(note 13)
(ii)
0.4
0.8
\u2013
\u2013
\u2013
58.2
9.1
68.5
Transfer from assets under
construction
70.0
1,115.5
888.0
2,236.4
4.4
(4,381.4)
67.1
\u2013
Transfer between categories
(39.3)
\u2013
\u2013
\u2013
39.3
\u2013
\u2013
\u2013
Disposals
(iv)
(4.4)
(2.3)
(0.5)
\u2013
(11.9)
(2.8)
(36.9)
(58.8)
Transfer to assets held for sale
(note 12)
\u2013
(33.6)
\u2013
\u2013
(1.5)
\u2013
(1.3)
(36.4)
Exchange rate adjustments
23.0
37.5
\u2013
\u2013
1.6
13.5
\u2013
75.6
At 31 March 2026
3,687.7
5,904.3
12,132.6
9,898.8
776.3
1,486.4
1,641.0
35,527.1
Depreciation:
At 31 March 2024
(2,591.9)
(2,229.4)
(4,704.8)
(985.5)
(253.9)
(10.9)
(1,221.3)
(11,997.7)
Charge for the year
(85.0)
(175.6)
(188.3)
(135.3)
(18.0)
\u2013
(63.4)
(665.6)
Transfer between categories
\u2013
\u2013
\u2013
\u2013
(0.2)
\u2013
0.2
\u2013
Exceptional impairment charges
(iii)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 7 . 2 )
( 7 . 2 )
Non-exceptional impairment charges
\u2013
\u2013
\u2013
\u2013
(0.1)
(0.4)
(1.2)
(1.7)
Disposals
\u2013
\u2013
0.2
\u2013
0.5
\u2013
9.0
9.7
Exchange rate adjustments
3.9
10.6
0.1
\u2013
(0.2)
\u2013
1.4
15.8
At 31 March 2025
(2,673.0)
(2,394.4)
(4,892.8)
(1,120.8)
(271.9)
(11.3)
(1,282.5)
(12,646.7)
Charge for the year
(77.6)
(191.4)
(210.5)
(168.5)
(24.5)
\u2013
(80.5)
(753.0)
Exceptional impairment charges and
reversals
(iii)
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 5 . 8 )
4 8 . 5
( 1 0 7 . 3 )
Non-exceptional impairment charges
(3.4)
\u2013
\u2013
\u2013
1.5
(1.8)
0.3
(3.4)
Disposals
(iv)
4.4
1.2
\u2013
\u2013
5.5
2.8
21.5
35.4
Transfer to assets held for sale
(note 12)
\u2013
1.6
\u2013
\u2013
\u2013
\u2013
0.7
2.3
Exchange rate adjustments
(11.0)
(20.3)
\u2013
\u2013
(0.4)
\u2013
(0.4)
(32.1)
At 31 March 2026
(2,760.6)
(2,603.3)
(5,103.3)
(1,289.3)
(289.8)
(166.1)
(1,292.4)
(13,504.8)
Net book value
At 31 March 2026
927.1
3,301.0
7,029.3
8,609.5
486.5
1,320.3
348.6
22,022.3
At 31 March 2025
955.6
2,381.5
6,352.3
6,541.6
438.8
1,910.4
243.9
18,824.1
At 1 April 2024
1,042.0
2,443.7
5,859.1
5,431.5
375.2
1,253.0
207.0
16,611.5
(i) Renewable and Thermal power generation assets includes plant and machinery and related land and buildings and decommissioning costs with a net book value of \u00a3139.2m and \u00a359.2m
(2025: \u00a3137.3m and \u00a358.7m) respectively. Additionally, Other assets includes \u00a362.5m in relation to decommissioning costs for Gas Storage assets (2025: \u00a349.5m).
(ii) Represents the carrying value of development assets transferred from intangible assets (note 13) which have reached the consent stage and have been approved for construction and the
reclassification of certain software assets to intangible assets.
(iii) Exceptional impairment charges of \u00a3107.3m relate to Strathy South (\u00a396.0m) and Aberarder (\u00a359.8m), offset by an impairment reversal of \u00a348.5m relating to the Group\u2019s Gas Storage assets
(note 15).
(iv) Disposals in the current year primarily relate to surplus buildings and vehicles.
ncluded within property, plant and equipment are the following right of use assets for leased assets:
Thermal power
generation Land and
assets buildings Other assets Total
\u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 31 March 2024
369.6
282.4
151.4
803.4
Additions
\u2013
76.8
49.9
126.7
Disposals
\u2013
(11.6)
(9.2)
(20.8)
Exchange rate adjustments
\u2013
(0.8)
(0.5)
(1.3)
At 31 March 2025
369.6
346.8
191.6
908.0
Additions
\u2013
3 3 . 3
6 0 . 0
9 3 . 3
Disposals
\u2013
(3.5)
(40.4)
(43.9)
Transfer to asset held for sale (note 12)
\u2013
(1.5)
\u2013
(1.5)
Exchange rate adjustments
\u2013
1 . 7
\u2013
1 . 7
At 31 March 2026
369.6
376.8
211.2
957.6
Depreciation
At 31 March 2024
(264.0)
(54.0)
(63.2)
(381.2)
Charge for the year
(18.4)
(16.1)
(31.2)
(65.7)
Disposals
\u2013
0.8
7.1
7.9
At 31 March 2025
(282.4)
(69.3)
(87.3)
(439.0)
Charge for the year
(18.6)
(20.3)
(43.7)
(82.6)
Disposals
\u2013
1.7
27.8
29.5
At 31 March 2026
(301.0)
(87.9)
(103.2)
(492.1)
Net book value
At 31 March 2026
68.6
288.9
108.0
465.5
At 31 March 2025
87.2
277.5
104.3
469.0
At 1 April 2024
105.6
228.4
88.2
422.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-651": { "value": "
15. Impairment testing
Goodwill and intangible assets that are not amortised are reviewed at least annually for impairment. Property, plant and equipment, investments
and other intangibles are assessed annually for triggers of impairment (or impairment reversal).
The Group\u2019s accounting policies for impairment testing are described at Accompanying Information sections A1.2
.
The key operating and valuation assumptions, specific considerations and outcome of tests for all impairment reviews are noted in the
following sections. The discount rates used are pre-tax real, except where noted, and reflect specific risks attributable to the relevant
assets subject to impairment review. The recoverable amounts derived from the value in use (\u2018VIU\u2019) or fair value less costs to sell (\u2018FVLCS\u2019)
calculations are compared to the carrying amount of each asset or cash generating unit (\u2018CGU\u2019) to determine whether an impairment charge
(or reversal) is required to be recognised. The reviews carried out for the 2026 financial statements were carried out in the fourth quarter of the
year, which is consistent with previous reviews. Note that the actual outcomes may differ from the assumptions included in the assessments at
the balance sheet date.
15.1 Goodwill impairment reviews \u2013 CGUs testing
The Group has three goodwill balances within its SSE Renewables business (GB and Ireland, SSE Southern Europe and SSE Pacifico) that
are subject to annual goodwill impairment reviews. Legacy goodwill balances within the Energy Customers Solutions segment are also subject
to annual impairment review but are not included in the disclosure on the basis of materiality. The recoverable amounts of the CGUs supporting
the goodwill balances are determined by reference to either VIU or FVLCS calculations, as noted below. The VIU calculations use, as a starting
point, pre-tax cash flow projections based on the Group\u2019s ten-year Corporate Model as approved by the Board. The Group\u2019s Corporate Model
is based on past experience and reflects the Group\u2019s forward view of markets, prices, risks and its strategic objectives. Commodity prices used
are based on observable market data and, where this is not available, internal estimates. The FVLCS methodology also uses a present value
technique, unless there is a quoted price in an active market for that asset. The methodology is based on the post-tax cash flows arising from
the specific assets, underlying assets or CGUs, and discounted using a post-tax discount rate determined in the same manner as the rates used
in the VIU calculations, adjusted for the relevant taxation rate.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
SSE Southern Period to end of Modelling methodology and assumptions
Impairment conclusion
Europe life of portfolio Due to the early stage of development of many of
The recoverable value of the Southern Europe
assets the projects in the Southern Europe portfolio, a
wind farm CGU has been calculated at \u00a3469.0m
FVLCS assessment is used to test the carrying value
(2025: \u00a3351.2m), which is greater than the carrying
of \u00a3244.5m of goodwill (2025: \u00a3408.8m) and
value of the goodwill and intangible development
\u00a3169.4m of tangible generation and intangible
assets, therefore no impairment charge has been
development assets (2025: \u00a3192.7m). The FVLCS
recognised. The Group also assessed that none of
assessment is based on the discounted post-tax
the impairments previously recognised within the
cash flows, which are presented on a similar
CGU were eligible for reversal.
basis to the acquisition model updated to reflect
Sensitivity analysis
changes to specific project circumstances and
wider market developments.
The principal assumptions impacting the valuation
model of the Southern Europe wind farm CGU are
In the prior year the Group recognised an
generation volume; development probability of
exceptional impairment of \u00a3249.5m on its Southern
success; discount rate; and power price. Positive
Europe development portfolio between goodwill
sensitivities have not been disclosed as they would
(\u00a3174.7m) and development assets (\u00a374.8m).
increase headroom further.
During the current financial year, the Group has
While cash flow projections are subject to inherent
progressed development and construction of a
uncertainty, a 10% reduction in generation volume
number of projects, primarily in Spain and Italy.
would result in impairment of \u00a396.9m (2025:
While development has continued in Spain, the
impairment of \u00a379.6m).
prospects of the specific development projects
impaired in the prior year have not significantly
A 5% decrease in the probability of success
improved in the current year and have not been
attributed to the development projects would result
reversed. The impairment of goodwill recognised
in an impairment of \u00a311.4m (2025: impairment
in the prior year is ineligible for reversal.
of \u00a3115.8m).
The Group has assessed that its French portfolio
An increase of 0.5% in the respective post-tax
and the Mesouvouni solar asset in Greece have
nominal discount rates to between 7.7% and 8.6%
met the relevant criteria to be classified as held for
would result in an impairment of \u00a328.8m (2025:
sale as at 31 March 2026 (see note 12.3
). The
impairment of \u00a388.0m).
assets have been written down to the lower of cost
The Group continues to assume that many of the
or net realisable value, which has resulted in a non-
projects in Spain, Italy and France will obtain a
exceptional impairment of \u00a31.9m to Mesouvouni.
government or third-party revenue support
The Southern Europe CGU model includes
contract. If this assumption were changed and the
cashflows for two operational wind farms and
projects were developed on a merchant basis,
over 50 early-stage development assets, being
headroom would increase to \u00a395.2m. A 5
% decrease
individual wind farm and co-located solar projects
to the merchant price assumption would result in an
been assigned a probability of success. While there
across Spain, France, Italy and Greece that have
impairment of \u00a320.1m.
are other projects in the portfolio, these have not
been assigned a probability of success and have
been excluded from the valuation.
Cashflows for the CGU are based on the expected
average annual generation output for each project,
valued using forward power price projections. These
factors are subject to management review on an
annual basis. The prices applied to projected outputs
are based on observable market information during
the period, or management projections for available
contracts in the PPA market. Assumptions have
also been made on government support for the
development of wind projects and expected
governmental support under CFD subsidies.
Cash outflows are based on planned and expected
maintenance profiles and other capital or
replacement costs.
The cash flow projections are based on European
power prices between \u20ac23 \u2013 \u20ac272 per MWh (2025:
\u20ac35 \u2013 \u20ac173 per MWh) and have been discounted
applying a post-tax nominal discount rate between
7.2% and 8.1% (2025: post-tax nominal discount
rate between 7.1% and 8.0%) based on technology
and market risks.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
SSE Pacifico Period to end of Modelling methodology and assumptions Impairment conclusion
life of portfolio A FVLCS assessment was used to test the carrying While the assessed recoverable value of \u00a3267.6m
assets value of \u00a3182.9m of goodwill (2025: \u00a3187.3m) and (2025: \u00a3250.6m) exceeds the carrying value at
\u00a347.5m of intangible development assets (2025: 31 March 2026, the model is sensitive to changes
\u00a339.7m) relating to SSE Pacifico. The projects in in key assumptions due to the early stage of the
SSE Pacifico remain early stage, therefore the development portfolio. The Group\u2019s base case
assessment was based on the discounted post-tax model, reflecting the Group\u2019s best estimate
cash flows prepared on comparable basis to the of observable inputs to the model, indicates
acquisition model, updated to reflect changes to headroom on the carrying value of the asset of
specific project circumstances and wider market \u00a334.3m (2025: \u00a323.6m). Therefore, no impairment
developments since acquisition. has been recognised at 31 March 2026.
During the year there has been development in Sensitivity analysis
the Japanese offshore wind industry with the The principal assumptions impacting the valuation
surrender of Round 1 revenue support contracts model of the SSE Pacifico CGU are fixed-contract
by market incumbents. As a result, the Group has
price; generation volumes; operating cost
estimates;
reviewed key input assumptions to the impairment construction cost estimates; and discount rate.
model including capex, opex and revenue prices
during the year. A 5% decrease in fixed-contract price revenue
results in an impairment of \u00a382.2m (2025: \u00a3122.9m),
Cash inflows for the CGU model are based on the while a 1% reduction to the generation capacity
Group\u2019s latest projections for expected average factor results in an impairment of \u00a331.9m
annual generation output based on technical (2025: \u00a364.9m).
assessment and are valued based on the Group\u2019s
internal projections of fixed price contract prices. A 5% increase in operating cost estimates would
The projections are dependent on the Japanese decrease headroom to \u00a316.0m. A 2% increase in
government\u2019s continued support for the construction cost estimates would reduce
development of offshore wind projects. headroom to nil.
Cash outflows are based on forecast asset costs, A 0.5% increase to financing costs results in an
planned and expected maintenance profiles impairment of \u00a318.7m (2025: \u00a368.0m), while a 0.5%
and other capital or replacement costs. increase to the discount rate assumption decreases
For the purposes of the impairment test, the the headroom to \u00a36.8m (2025: \u00a34.4m).
valuation model includes cashflows for three Due to the low level of headroom and the sensitivity
early-stage offshore wind projects (2025: three) of the model to changes in key assumption,
out of a total of 11 acquired by the Group. breakeven assumption changes that would reduce
The cash flow projections are based on Japanese the headroom to nil have been calculated.
power prices, per foundation type, between \u00a540.5 A decrease in the fixed price assumption of 1.5%; a
\u2013 \u00a553.3 per kWh (2025: \u00a521.2 \u2013 \u00a532.0 per kWh) decrease in assumed generation volumes of 1.4%; a
and have been discounted applying a post-tax 0.3% increase to interest rate; a 9.3% operating cost
nominal discount rate of 10.4% (2025: post- tax increase; or a 0.6% increase to the discount rate
nominal discount rate of 10.5%) based on would each result in the headroom being reduced
technology and market risks. to nil.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Great Britain Period to end of Modelling methodology and assumptions Impairment conclusion
(GB) and Ireland life of portfolio A VIU assessment is used to test the carrying value The recoverable amount of the GB and Ireland
wind farm CGUs assets of \u00a3291.8m (2025: \u00a3287.0m) of goodwill related to CGUs at 31 March 2026 is significantly in excess of
the Group\u2019s GB and Ireland wind farm CGUs. The the carrying value of the goodwill and tangible and
assessment is based on the discounted pre-tax intangible assets attributed to the CGUs, therefore
cash flows expected to be generated by the no impairment has been recognised.
specific wind farm assets included in the CGU Sensitivity analysis
across the remaining useful lives of those assets. The principal assumptions impacting the valuation
The GB and Ireland CGUs includes cashflows for model of the GB and Ireland CGU are generation
operational assets only, being over 50 individual volume and electricity price.
wind farms across Great Britain and Ireland,
given the risk and uncertainty associated with While cash flow projections are subject to inherent
projects in the development stage. Significant uncertainty, a 10% decrease in projected generation
developments that are currently under volumes, offset by a 5% increase to power prices,
development or construction (such as Berwick continued to return headroom above the carrying
Bank) continue to be excluded from the analysis. value of the assets.
Cash inflows for the CGUs are based on the Climate-related sensitivity analysis
expected average annual generation output based A significant increase in renewable generation
on technical assessment and past experience, capacity in the Group\u2019s core markets could result
valued based on forward power prices. These in an oversupply of renewable electricity at a point
factors are subject to management review on an in the future, which would lead to a consequential
annual basis. The prices applied to projected decrease in the power price achievable for the
outputs are based either on observable market Group\u2019s GB and Ireland wind generation assets.
information during that period, which is deemed A downside power price sensitivity, which may
to be 3 years, or on internal estimations beyond arise in a market with significant new build wind
the observable market period (a Level 3 basis as was modelled. This scenario indicated that, despite
defined by IFRS 13 \u201cFair Value Measurement\u201d). a modelled 10% reduction in forecast wind power
The projections are also dependent on the UK and price, there remained headroom on the carrying
Irish governments\u2019 continuing support for existing value in the Group\u2019s GB and Ireland wind
qualifying wind assets through CFD subsidies and generation assets.
ROCs or REFIT. Cash outflows are based on
planned and expected maintenance profiles and Climate change models predict sustained higher
other capital or replacement costs. temperatures that deliver greater extremes in
weather patterns, including variability in wind
The cash flow projections are based on UK and and rainfall patterns which may reduce volumes
Irish power prices between \u00a350 \u2013 \u00a3100 per MWh achievable for the Group\u2019s GB and Ireland wind
(2025: \u00a352 \u2013 \u00a398 per MWh) and have been generation assets (although noting that a reduction
discounted applying a pre-tax real discount rate in volume would likely lead to capacity constraints
between 8.2% for GB and 6.0% for Ireland and hence higher prices). A 10% decrease in
(2025: between 7.5% for GB and 5.3% for Ireland) projected generation volumes, offset by a 5%
based on technology and market risks. increase to power prices, continued to return
headroom above the carrying value of the assets.
15.2 Property, plant and equipment, other intangibles and investment impairment reviews \u2013 asset testing Where an indicator of impairment exists, the recoverable amounts of the Group\u2019s property, plant and equipment, other intangible assets and interests in joint ventures and associates are determined by reference to VIU or, where appropriate, FVLCS calculations. The calculations use, as their starting point, pre-tax cash flow projections based on the Group\u2019s ten-year Corporate Model as approved by the Board. The Group\u2019s Corporate Model is based on experience and reflects the Group\u2019s forward view of markets, prices, risks and its strategic objectives. Commodity prices used are based on observable market data and, where this is not available, on internal estimates. FVLCS valuations are derived from market analysis for similar transactions, adjusted to specific circumstances of the Group\u2019s investment to reflect the amount the Group believes will be recoverable in a sale transaction. Note that the Group will expense any individual asset, investment or development asset, should it clearly be damaged, obsolete or economically impaired, as part of its normal course of business. Assets identified for review The specific assets and investments identified for impairment reviews in the prior year (being the Great Island CCGT; Gas Storage facilities at Aldbrough and Atwick; 50% joint venture investment in Triton Power; and 50% joint venture investment in Neos Networks) all remained subject to impairment testing at 31 March 2026 as they displayed indicators of impairment, or impairment reversal, as set out below. In addition, Strathy South and Aberarder wind farms and the Group\u2019s investments in the Dogger Bank joint venture were identified as displaying indicators of impairment and have been tested for impairment in the current year. While the Group\u2019s GB CCGTs were tested for impairment in the prior year, all historic impairments related to these assets are fully reversed and significant headroom existed on all assets in the prior year impairment test. No further indicators of impairment were identified in the current year, therefore no detailed impairment test was performed for these assets.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Equity and debt Period to end of life Indicator of impairment Impairment conclusion
investments in Management identified that delays to the The impairment test indicated headroom above the
Dogger Bank construction of the wind farm constituted carrying value for each investment, therefore no
wind farms an indicator of impairment, triggering an impairments have been recognised.
impairment test.
Sensitivity analysis
Modelling methodology and assumptions The principal assumptions impacting the valuation
A FVLCS assessment was used to test the model of the Group\u2019s investments in the Dogger
carrying value of the Group\u2019s equity
Bank wind farms is production volumes
projected by
investments (DBA: \u00a3259.2m; DBB: \u00a3128.4m; management. Whilst other input assumptions have
and DBC: \u00a395.0m) and shareholder loans been estimated, reasonable possible changes in
(DBA: \u00a3313.4m) due to SSE. SSE has assessed these assumptions did not alter the impairment test
that the equity and shareholder loans provided outcome and therefore have not been disclosed.
to DBA together form the Group\u2019s net Only a reasonably possible downside sensitivity to
investment in the joint venture. the production volume assumption has been
The fair value of each investment was disclosed, as an upside sensitivity would increase
determined using a post-tax discounted cash headroom further.
flow model. The model comprises an estimate A 10% decrease in estimated output volumes across
of cashflows arising from operations to the the life of the assets would result in impairments of
end of the operational life of each wind farm. \u00a334.6m and \u00a39.0m to DBA and DBC respectively.
Construction cost forecasts represent DBB would retain headroom.
management\u2019s best estimate of remaining cash
outflows expected to be incurred to complete
each wind farm.
Cash inflows for each investment are based
on the expected average annual generation
output valued based on forward power prices
forecast by Dogger Bank. CfD price inputs are
based on contracted rates throughout the life
of the CfD and merchant prices are based
external market estimations (a Level 3 input as
defined by IFRS 13 \u201cFair Value Measurement\u201d).
Operational cash outflows are based on
planned and expected maintenance profiles
and other capital or replacement costs.
The cash flow projections have been
discounted applying a post-tax nominal
discount rate between 9.8% and 10.3%.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
GB onshore Period to end of life Indicator of impairment Impairment conclusion
wind assets Notification of grid delays prolonging the The recoverable value of Strathy South is \u00a345.5m
under construction period constituted an indicator which is \u00a396.0m lower than the carrying value;
construction of impairment, necessitating formal review. and the recoverable value of Aberarder is \u00a313.9m
Modelling methodology and assumptions which is \u00a359.8m lower than the carrying value. Both
impairments have been recognised as exceptional
A FVLCS assessment was used to test the charges in the year (see note 7 ).
carrying value of the Group\u2019s asset under
construction balances in relation to the Sensitivity analysis
Group\u2019s Strathy South (\u00a3141.5m) and The principal assumptions impacting the valuation
Aberarder (\u00a373.7m) wind farms. model of the Strathy South and Aberarder
A post-tax discounted cash flow model impairment models are construction cost increases;
was prepared for each asset comprising and discount rate.
management\u2019s estimate of cashflows arising An increase to the Strathy South construction cost
from operations to the end of asset life. estimate of \u00a350m would result in a further
Construction cost forecasts represent impairment of \u00a340.0m. A \u00a320m increase to the
management\u2019s best estimate of remaining Aberarder construction cost estimate would result
cash outflows expected to be incurred. in a further impairment of \u00a316.0m.
Cash inflows are based on the expected A 0.5% increase to the discount rate assumption
average annual generation output valued would increase the Strathy South impairment by
based on forward power prices. CfD price \u00a313.9m and increase the Aberarder impairment
inputs for each asset are based on contracted \u00a33.3m.
rates throughout the life of the CfD and
merchant prices are based external market
estimations (a Level 3 basis as defined by IFRS
13 \u201cFair Value Measurement\u201d). Operational cash
outflows are based on planned and expected
maintenance profiles and other capital or
replacement costs.
The cash flow projections have been
discounted applying a post-tax nominal
discount rate between 7.9% and 8.2%.
Great Island Period to end of life Indicator of impairment Conclusion
CCGT The Group\u2019s Great Island CCGT demonstrated The VIU assessment performed on the asset
low levels of headroom in the prior year at 31 March 2026 resulted in no impairment being
assessment (\u00a325.8m) and remains sensitive to recognised. The recoverable value at 31 March 2026
key input assumption movements, which was estimated at \u00a3265.1m (2025: \u00a3265.0m) relative
management concluded necessitated formal to a carrying value of \u00a3224.7m (2025: \u00a3239.2m).
impairment review.
Sensitivity analysis
Modelling methodology and assumptions Reasonably possible changes to model input
The VIU of the Group\u2019s Great Island CCGT assumptions did not alter the impairment test
power station was based on pre-tax outcome, therefore have not been disclosed.
discounted cash flows expected to be
generated by the plant based on
management\u2019s view of the plant\u2019s operating
prospects. Cash flows are subject to a pre-tax
real discount rate of 10.5% (2025: 9.9%)
reflecting the specific risks in the Irish market.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Gas Storage CGU Period to end Indicator of impairment reversal Conclusion
of life During March 2026, significant volatility arose The VIU assessment performed resulted in the
in global commodity markets following the reversal of \u00a348.5m of historic impairment
commencement of conflict in the Middle East, (2025: no impairment or reversal). The impairment
which Management determined to be an indicator reversal has been classified as an exceptional item
of impairment reversal, requiring a formal (see note 7 ).
impairment assessment. Following the exceptional impairment reversal,
Modelling methodology and assumptions the carrying value of the Group\u2019s Gas Storage assets
The VIU of the Group\u2019s Gas Storage assets is \u00a363.7m (2025: \u00a39.4m). This represents the
was based on pre-tax discounted cash flows recoverable value of the storage assets only and
expected to be generated by the CGU based on excludes the carrying value of cushion gas volumes.
management\u2019s view of operating prospects. Sensitivity analysis
Cash flows are subject to a pre-tax real discount A sensitivity performed with a high volatility
rate of 15.3% (2025: 10.6%) reflecting risks specific assumption would result in a further impairment
to the CGU. reversal of \u00a381.2m, while a low volatility assumption
The key assumptions applied in the valuation of would result in a full impairment of the carrying value.
the assets are gas price volatility and the mean An increase to the MRR assumption rate by 1.0 would
reversion rate (\u201cMRR\u201d). The gas price volatility result in a further impairment reversal of \u00a315.0m, while
assumption reflects management\u2019s view of price a 1.0 decrease to the MRR assumption would reduce
fluctuations between periods where the Group can the impairment write-back to \u00a316.6m.
purchase gas at a low price, store it and sell during
periods of peak prices. MRR represents the time A 10% increase to the gas price assumption would
taken for the market to return to average after a result in a further impairment reversal of \u00a325.8m,
period of increase or decline. while a 10% decrease to the gas price assumption
Asset valuations are particularly sensitive to would reduce the impairment reversal recognised
movements in short-term volatility and therefore from \u00a348.5m to \u00a321.1m.
any increases due to short-term volatility are likely
to reverse as the market stabilises.
Equity investment Period to end of Indicator of impairment reversal Conclusion
in Triton Power life During the year, Triton Power commenced the The recoverable amount of the Group\u2019s equity
Holdings Limited upgrade to a secondary boiler at Saltend Power investment in Triton is \u00a3141.0m (2025: \u00a3137.3m)
Station, which is expected to optimise running of which resulted in the recognition of an exceptional
the plant. This, coupled with recent movements impairment reversal of \u00a329.4m (2025: \u00a3nil).
in observable power prices, was deemed to be an The Group acquired its investment in Triton on
indicator of impairment reversal, resulting in a 1 September 2022 during a period of significant
formal review. volatility in the UK power market. On acquisition the
Modelling methodology and assumptions Group recorded an exceptional gain on acquisition
The Group has valued its 50% equity investment due to movements in short term gas and power
Triton Power Holdings Limited (\u201cTriton\u201d) based on prices between the purchase agreement and
projected cashflows that will be available to completion dates. While the investment is an equity
shareholders of the investment on a VIU basis. accounted joint venture, the investment has been
impaired in previous periods and is sensitive to
The VIU assessment of the Triton power stations market movements. The current year impairment
(Saltend, Indian Queens and Deeside) is used to reversal has been classified as exceptional to align
test the carrying value of the equity investment with the treatment of previous impairments (see
of \u00a3111.6m (2025: \u00a3137.8m). The assessments note 7 ).
were based on pre-tax discounted cash flows
expected to be generated by each power station, Sensitivity analysis
based on management\u2019s view of operating The principal assumption impacting the valuation
prospects and operational flexibility within the model of Triton is the non-contracted capacity
GB wholesale market, including capacity market market price.
clearing prices. Cash flows are subject to a A \u00a310/KW increase in non-contracted capacity
pre-tax real discount rate of 15.1% (blended) market price would result in a further impairment
(2025: 12.7% (blended)). reversal of \u00a314.8m (2025: reversal of \u00a316.5m), while
a \u00a310/KW decrease in the assumption would
decrease the impairment reversal to \u00a314.6m
(2025: impairment of \u00a311.4m).
While other assumptions such as gross margin and
discount rates are estimated by management,
reasonably plausible movements in these
assumptions result in immaterial movements to the
impairment conclusion.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Investment in 5 years Indicator of impairment reversal Conclusion
Neos Networks The Group\u2019s investment in NNL was tested for The impairment test indicated headroom of \u00a315.9m
Limited (\u201cNNL\u201d) impairment or impairment reversal, following a above the carrying value. As the difference is
series of impairments in recent financial years. immaterial and has been assessed as part of a range
Modelling methodology and assumptions of positive and negative reasonably possible
outcomes, no impairment reversal has been
The Group has valued its investment in NNL based recognised at 31 March 2026 (2025: \u00a3nil).
on projected future cashflows that are expected to
arise from the business under a value in use (\u201cVIU\u201d) Sensitivity analysis
methodology. The VIU assessment is used to Reasonably possible changes to model input
test the carrying value of the equity investment assumptions did not alter the impairment test
and shareholder loan balances due from NNL at outcome, therefore have not been disclosed.
31 March 2026.
Due to recognition of the Group\u2019s share of losses in
the joint venture, the carrying value of the Group\u2019s
equity investment has now reduced to nil
(2025: \u00a31.3m), while shareholder loans are carried at
\u00a386.7m (2025: \u00a383.5m). The Group has assessed
that it is not required to recognise its share of further
losses arising from the investment (see note 16
).
The impairment assessment was derived from pre-
tax discounted cash flows based on management\u2019s
view of operating prospects.
Cash flows are subject to a pre-tax real discount
rate of 7.2% (2025: 8.2%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-751": { "value": "15.1 Goodwill impairment reviews \u2013 CGUs testing The Group has three goodwill balances within its SSE Renewables business (GB and Ireland, SSE Southern Europe and SSE Pacifico) that are subject to annual goodwill impairment reviews. Legacy goodwill balances within the Energy Customers Solutions segment are also subject to annual impairment review but are not included in the disclosure on the basis of materiality. The recoverable amounts of the CGUs supporting the goodwill balances are determined by reference to either VIU or FVLCS calculations, as noted below. The VIU calculations use, as a starting point, pre-tax cash flow projections based on the Group\u2019s ten-year Corporate Model as approved by the Board. The Group\u2019s Corporate Model is based on past experience and reflects the Group\u2019s forward view of markets, prices, risks and its strategic objectives. Commodity prices used are based on observable market data and, where this is not available, internal estimates. The FVLCS methodology also uses a present value technique, unless there is a quoted price in an active market for that asset. The methodology is based on the post-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a post-tax discount rate determined in the same manner as the rates used in the VIU calculations, adjusted for the relevant taxation rate.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
SSE Southern Period to end of Modelling methodology and assumptions
Impairment conclusion
Europe life of portfolio Due to the early stage of development of many of
The recoverable value of the Southern Europe
assets the projects in the Southern Europe portfolio, a
wind farm CGU has been calculated at \u00a3469.0m
FVLCS assessment is used to test the carrying value
(2025: \u00a3351.2m), which is greater than the carrying
of \u00a3244.5m of goodwill (2025: \u00a3408.8m) and
value of the goodwill and intangible development
\u00a3169.4m of tangible generation and intangible
assets, therefore no impairment charge has been
development assets (2025: \u00a3192.7m). The FVLCS
recognised. The Group also assessed that none of
assessment is based on the discounted post-tax
the impairments previously recognised within the
cash flows, which are presented on a similar
CGU were eligible for reversal.
basis to the acquisition model updated to reflect
Sensitivity analysis
changes to specific project circumstances and
wider market developments.
The principal assumptions impacting the valuation
model of the Southern Europe wind farm CGU are
In the prior year the Group recognised an
generation volume; development probability of
exceptional impairment of \u00a3249.5m on its Southern
success; discount rate; and power price. Positive
Europe development portfolio between goodwill
sensitivities have not been disclosed as they would
(\u00a3174.7m) and development assets (\u00a374.8m).
increase headroom further.
During the current financial year, the Group has
While cash flow projections are subject to inherent
progressed development and construction of a
uncertainty, a 10% reduction in generation volume
number of projects, primarily in Spain and Italy.
would result in impairment of \u00a396.9m (2025:
While development has continued in Spain, the
impairment of \u00a379.6m).
prospects of the specific development projects
impaired in the prior year have not significantly
A 5% decrease in the probability of success
improved in the current year and have not been
attributed to the development projects would result
reversed. The impairment of goodwill recognised
in an impairment of \u00a311.4m (2025: impairment
in the prior year is ineligible for reversal.
of \u00a3115.8m).
The Group has assessed that its French portfolio
An increase of 0.5% in the respective post-tax
and the Mesouvouni solar asset in Greece have
nominal discount rates to between 7.7% and 8.6%
met the relevant criteria to be classified as held for
would result in an impairment of \u00a328.8m (2025:
sale as at 31 March 2026 (see note 12.3
). The
impairment of \u00a388.0m).
assets have been written down to the lower of cost
The Group continues to assume that many of the
or net realisable value, which has resulted in a non-
projects in Spain, Italy and France will obtain a
exceptional impairment of \u00a31.9m to Mesouvouni.
government or third-party revenue support
The Southern Europe CGU model includes
contract. If this assumption were changed and the
cashflows for two operational wind farms and
projects were developed on a merchant basis,
over 50 early-stage development assets, being
headroom would increase to \u00a395.2m. A 5
% decrease
individual wind farm and co-located solar projects
to the merchant price assumption would result in an
been assigned a probability of success. While there
across Spain, France, Italy and Greece that have
impairment of \u00a320.1m.
are other projects in the portfolio, these have not
been assigned a probability of success and have
been excluded from the valuation.
Cashflows for the CGU are based on the expected
average annual generation output for each project,
valued using forward power price projections. These
factors are subject to management review on an
annual basis. The prices applied to projected outputs
are based on observable market information during
the period, or management projections for available
contracts in the PPA market. Assumptions have
also been made on government support for the
development of wind projects and expected
governmental support under CFD subsidies.
Cash outflows are based on planned and expected
maintenance profiles and other capital or
replacement costs.
The cash flow projections are based on European
power prices between \u20ac23 \u2013 \u20ac272 per MWh (2025:
\u20ac35 \u2013 \u20ac173 per MWh) and have been discounted
applying a post-tax nominal discount rate between
7.2% and 8.1% (2025: post-tax nominal discount
rate between 7.1% and 8.0%) based on technology
and market risks.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
SSE Pacifico Period to end of Modelling methodology and assumptions Impairment conclusion
life of portfolio A FVLCS assessment was used to test the carrying While the assessed recoverable value of \u00a3267.6m
assets value of \u00a3182.9m of goodwill (2025: \u00a3187.3m) and (2025: \u00a3250.6m) exceeds the carrying value at
\u00a347.5m of intangible development assets (2025: 31 March 2026, the model is sensitive to changes
\u00a339.7m) relating to SSE Pacifico. The projects in in key assumptions due to the early stage of the
SSE Pacifico remain early stage, therefore the development portfolio. The Group\u2019s base case
assessment was based on the discounted post-tax model, reflecting the Group\u2019s best estimate
cash flows prepared on comparable basis to the of observable inputs to the model, indicates
acquisition model, updated to reflect changes to headroom on the carrying value of the asset of
specific project circumstances and wider market \u00a334.3m (2025: \u00a323.6m). Therefore, no impairment
developments since acquisition. has been recognised at 31 March 2026.
During the year there has been development in Sensitivity analysis
the Japanese offshore wind industry with the The principal assumptions impacting the valuation
surrender of Round 1 revenue support contracts model of the SSE Pacifico CGU are fixed-contract
by market incumbents. As a result, the Group has
price; generation volumes; operating cost
estimates;
reviewed key input assumptions to the impairment construction cost estimates; and discount rate.
model including capex, opex and revenue prices
during the year. A 5% decrease in fixed-contract price revenue
results in an impairment of \u00a382.2m (2025: \u00a3122.9m),
Cash inflows for the CGU model are based on the while a 1% reduction to the generation capacity
Group\u2019s latest projections for expected average factor results in an impairment of \u00a331.9m
annual generation output based on technical (2025: \u00a364.9m).
assessment and are valued based on the Group\u2019s
internal projections of fixed price contract prices. A 5% increase in operating cost estimates would
The projections are dependent on the Japanese decrease headroom to \u00a316.0m. A 2% increase in
government\u2019s continued support for the construction cost estimates would reduce
development of offshore wind projects. headroom to nil.
Cash outflows are based on forecast asset costs, A 0.5% increase to financing costs results in an
planned and expected maintenance profiles impairment of \u00a318.7m (2025: \u00a368.0m), while a 0.5%
and other capital or replacement costs. increase to the discount rate assumption decreases
For the purposes of the impairment test, the the headroom to \u00a36.8m (2025: \u00a34.4m).
valuation model includes cashflows for three Due to the low level of headroom and the sensitivity
early-stage offshore wind projects (2025: three) of the model to changes in key assumption,
out of a total of 11 acquired by the Group. breakeven assumption changes that would reduce
The cash flow projections are based on Japanese the headroom to nil have been calculated.
power prices, per foundation type, between \u00a540.5 A decrease in the fixed price assumption of 1.5%; a
\u2013 \u00a553.3 per kWh (2025: \u00a521.2 \u2013 \u00a532.0 per kWh) decrease in assumed generation volumes of 1.4%; a
and have been discounted applying a post-tax 0.3% increase to interest rate; a 9.3% operating cost
nominal discount rate of 10.4% (2025: post- tax increase; or a 0.6% increase to the discount rate
nominal discount rate of 10.5%) based on would each result in the headroom being reduced
technology and market risks. to nil.
Cash flow period
Assets/CGUs
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Great Britain Period to end of Modelling methodology and assumptions Impairment conclusion
(GB) and Ireland life of portfolio A VIU assessment is used to test the carrying value The recoverable amount of the GB and Ireland
wind farm CGUs assets of \u00a3291.8m (2025: \u00a3287.0m) of goodwill related to CGUs at 31 March 2026 is significantly in excess of
the Group\u2019s GB and Ireland wind farm CGUs. The the carrying value of the goodwill and tangible and
assessment is based on the discounted pre-tax intangible assets attributed to the CGUs, therefore
cash flows expected to be generated by the no impairment has been recognised.
specific wind farm assets included in the CGU Sensitivity analysis
across the remaining useful lives of those assets. The principal assumptions impacting the valuation
The GB and Ireland CGUs includes cashflows for model of the GB and Ireland CGU are generation
operational assets only, being over 50 individual volume and electricity price.
wind farms across Great Britain and Ireland,
given the risk and uncertainty associated with While cash flow projections are subject to inherent
projects in the development stage. Significant uncertainty, a 10% decrease in projected generation
developments that are currently under volumes, offset by a 5% increase to power prices,
development or construction (such as Berwick continued to return headroom above the carrying
Bank) continue to be excluded from the analysis. value of the assets.
Cash inflows for the CGUs are based on the Climate-related sensitivity analysis
expected average annual generation output based A significant increase in renewable generation
on technical assessment and past experience, capacity in the Group\u2019s core markets could result
valued based on forward power prices. These in an oversupply of renewable electricity at a point
factors are subject to management review on an in the future, which would lead to a consequential
annual basis. The prices applied to projected decrease in the power price achievable for the
outputs are based either on observable market Group\u2019s GB and Ireland wind generation assets.
information during that period, which is deemed A downside power price sensitivity, which may
to be 3 years, or on internal estimations beyond arise in a market with significant new build wind
the observable market period (a Level 3 basis as was modelled. This scenario indicated that, despite
defined by IFRS 13 \u201cFair Value Measurement\u201d). a modelled 10% reduction in forecast wind power
The projections are also dependent on the UK and price, there remained headroom on the carrying
Irish governments\u2019 continuing support for existing value in the Group\u2019s GB and Ireland wind
qualifying wind assets through CFD subsidies and generation assets.
ROCs or REFIT. Cash outflows are based on
planned and expected maintenance profiles and Climate change models predict sustained higher
other capital or replacement costs. temperatures that deliver greater extremes in
weather patterns, including variability in wind
The cash flow projections are based on UK and and rainfall patterns which may reduce volumes
Irish power prices between \u00a350 \u2013 \u00a3100 per MWh achievable for the Group\u2019s GB and Ireland wind
(2025: \u00a352 \u2013 \u00a398 per MWh) and have been generation assets (although noting that a reduction
discounted applying a pre-tax real discount rate in volume would likely lead to capacity constraints
between 8.2% for GB and 6.0% for Ireland and hence higher prices). A 10% decrease in
(2025: between 7.5% for GB and 5.3% for Ireland) projected generation volumes, offset by a 5%
based on technology and market risks. increase to power prices, continued to return
headroom above the carrying value of the assets.
15.2 Property, plant and equipment, other intangibles and investment impairment reviews \u2013 asset testing
Where an indicator of impairment exists, the recoverable amounts of the Group\u2019s property, plant and equipment, other intangible assets and
interests in joint ventures and associates are determined by reference to VIU or, where appropriate, FVLCS calculations. The calculations use,
as their starting point, pre-tax cash flow projections based on the Group\u2019s ten-year Corporate Model as approved by the Board. The Group\u2019s
Corporate Model is based on experience and reflects the Group\u2019s forward view of markets, prices, risks and its strategic objectives. Commodity
prices used are based on observable market data and, where this is not available, on internal estimates. FVLCS valuations are derived from
market analysis for similar transactions, adjusted to specific circumstances of the Group\u2019s investment to reflect the amount the Group believes
will be recoverable in a sale transaction. Note that the Group will expense any individual asset, investment or development asset, should it
clearly be damaged, obsolete or economically impaired, as part of its normal course of business.
Assets identified for review
The specific assets and investments identified for impairment reviews in the prior year (being the Great Island CCGT; Gas Storage facilities at
Aldbrough and Atwick; 50% joint venture investment in Triton Power; and 50% joint venture investment in Neos Networks) all remained subject
to impairment testing at 31 March 2026 as they displayed indicators of impairment, or impairment reversal, as set out below. In addition, Strathy
South and Aberarder wind farms and the Group\u2019s investments in the Dogger Bank joint venture were identified as displaying indicators of
impairment and have been tested for impairment in the current year.
While the Group\u2019s GB CCGTs were tested for impairment in the prior year, all historic impairments related to these assets are fully reversed and
significant headroom existed on all assets in the prior year impairment test. No further indicators of impairment were identified in the current
year, therefore no detailed impairment test was performed for these assets.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Equity and debt Period to end of life Indicator of impairment Impairment conclusion
investments in Management identified that delays to the The impairment test indicated headroom above the
Dogger Bank construction of the wind farm constituted carrying value for each investment, therefore no
wind farms an indicator of impairment, triggering an impairments have been recognised.
impairment test.
Sensitivity analysis
Modelling methodology and assumptions The principal assumptions impacting the valuation
A FVLCS assessment was used to test the model of the Group\u2019s investments in the Dogger
carrying value of the Group\u2019s equity
Bank wind farms is production volumes
projected by
investments (DBA: \u00a3259.2m; DBB: \u00a3128.4m; management. Whilst other input assumptions have
and DBC: \u00a395.0m) and shareholder loans been estimated, reasonable possible changes in
(DBA: \u00a3313.4m) due to SSE. SSE has assessed these assumptions did not alter the impairment test
that the equity and shareholder loans provided outcome and therefore have not been disclosed.
to DBA together form the Group\u2019s net Only a reasonably possible downside sensitivity to
investment in the joint venture. the production volume assumption has been
The fair value of each investment was disclosed, as an upside sensitivity would increase
determined using a post-tax discounted cash headroom further.
flow model. The model comprises an estimate A 10% decrease in estimated output volumes across
of cashflows arising from operations to the the life of the assets would result in impairments of
end of the operational life of each wind farm. \u00a334.6m and \u00a39.0m to DBA and DBC respectively.
Construction cost forecasts represent DBB would retain headroom.
management\u2019s best estimate of remaining cash
outflows expected to be incurred to complete
each wind farm.
Cash inflows for each investment are based
on the expected average annual generation
output valued based on forward power prices
forecast by Dogger Bank. CfD price inputs are
based on contracted rates throughout the life
of the CfD and merchant prices are based
external market estimations (a Level 3 input as
defined by IFRS 13 \u201cFair Value Measurement\u201d).
Operational cash outflows are based on
planned and expected maintenance profiles
and other capital or replacement costs.
The cash flow projections have been
discounted applying a post-tax nominal
discount rate between 9.8% and 10.3%.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
GB onshore Period to end of life Indicator of impairment Impairment conclusion
wind assets Notification of grid delays prolonging the The recoverable value of Strathy South is \u00a345.5m
under construction period constituted an indicator which is \u00a396.0m lower than the carrying value;
construction of impairment, necessitating formal review. and the recoverable value of Aberarder is \u00a313.9m
Modelling methodology and assumptions which is \u00a359.8m lower than the carrying value. Both
impairments have been recognised as exceptional
A FVLCS assessment was used to test the charges in the year (see note 7 ).
carrying value of the Group\u2019s asset under
construction balances in relation to the Sensitivity analysis
Group\u2019s Strathy South (\u00a3141.5m) and The principal assumptions impacting the valuation
Aberarder (\u00a373.7m) wind farms. model of the Strathy South and Aberarder
A post-tax discounted cash flow model impairment models are construction cost increases;
was prepared for each asset comprising and discount rate.
management\u2019s estimate of cashflows arising An increase to the Strathy South construction cost
from operations to the end of asset life. estimate of \u00a350m would result in a further
Construction cost forecasts represent impairment of \u00a340.0m. A \u00a320m increase to the
management\u2019s best estimate of remaining Aberarder construction cost estimate would result
cash outflows expected to be incurred. in a further impairment of \u00a316.0m.
Cash inflows are based on the expected A 0.5% increase to the discount rate assumption
average annual generation output valued would increase the Strathy South impairment by
based on forward power prices. CfD price \u00a313.9m and increase the Aberarder impairment
inputs for each asset are based on contracted \u00a33.3m.
rates throughout the life of the CfD and
merchant prices are based external market
estimations (a Level 3 basis as defined by IFRS
13 \u201cFair Value Measurement\u201d). Operational cash
outflows are based on planned and expected
maintenance profiles and other capital or
replacement costs.
The cash flow projections have been
discounted applying a post-tax nominal
discount rate between 7.9% and 8.2%.
Great Island Period to end of life Indicator of impairment Conclusion
CCGT The Group\u2019s Great Island CCGT demonstrated The VIU assessment performed on the asset
low levels of headroom in the prior year at 31 March 2026 resulted in no impairment being
assessment (\u00a325.8m) and remains sensitive to recognised. The recoverable value at 31 March 2026
key input assumption movements, which was estimated at \u00a3265.1m (2025: \u00a3265.0m) relative
management concluded necessitated formal to a carrying value of \u00a3224.7m (2025: \u00a3239.2m).
impairment review.
Sensitivity analysis
Modelling methodology and assumptions Reasonably possible changes to model input
The VIU of the Group\u2019s Great Island CCGT assumptions did not alter the impairment test
power station was based on pre-tax outcome, therefore have not been disclosed.
discounted cash flows expected to be
generated by the plant based on
management\u2019s view of the plant\u2019s operating
prospects. Cash flows are subject to a pre-tax
real discount rate of 10.5% (2025: 9.9%)
reflecting the specific risks in the Irish market.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Gas Storage CGU Period to end Indicator of impairment reversal Conclusion
of life During March 2026, significant volatility arose The VIU assessment performed resulted in the
in global commodity markets following the reversal of \u00a348.5m of historic impairment
commencement of conflict in the Middle East, (2025: no impairment or reversal). The impairment
which Management determined to be an indicator reversal has been classified as an exceptional item
of impairment reversal, requiring a formal (see note 7 ).
impairment assessment. Following the exceptional impairment reversal,
Modelling methodology and assumptions the carrying value of the Group\u2019s Gas Storage assets
The VIU of the Group\u2019s Gas Storage assets is \u00a363.7m (2025: \u00a39.4m). This represents the
was based on pre-tax discounted cash flows recoverable value of the storage assets only and
expected to be generated by the CGU based on excludes the carrying value of cushion gas volumes.
management\u2019s view of operating prospects. Sensitivity analysis
Cash flows are subject to a pre-tax real discount A sensitivity performed with a high volatility
rate of 15.3% (2025: 10.6%) reflecting risks specific assumption would result in a further impairment
to the CGU. reversal of \u00a381.2m, while a low volatility assumption
The key assumptions applied in the valuation of would result in a full impairment of the carrying value.
the assets are gas price volatility and the mean An increase to the MRR assumption rate by 1.0 would
reversion rate (\u201cMRR\u201d). The gas price volatility result in a further impairment reversal of \u00a315.0m, while
assumption reflects management\u2019s view of price a 1.0 decrease to the MRR assumption would reduce
fluctuations between periods where the Group can the impairment write-back to \u00a316.6m.
purchase gas at a low price, store it and sell during
periods of peak prices. MRR represents the time A 10% increase to the gas price assumption would
taken for the market to return to average after a result in a further impairment reversal of \u00a325.8m,
period of increase or decline. while a 10% decrease to the gas price assumption
Asset valuations are particularly sensitive to would reduce the impairment reversal recognised
movements in short-term volatility and therefore from \u00a348.5m to \u00a321.1m.
any increases due to short-term volatility are likely
to reverse as the market stabilises.
Equity investment Period to end of Indicator of impairment reversal Conclusion
in Triton Power life During the year, Triton Power commenced the The recoverable amount of the Group\u2019s equity
Holdings Limited upgrade to a secondary boiler at Saltend Power investment in Triton is \u00a3141.0m (2025: \u00a3137.3m)
Station, which is expected to optimise running of which resulted in the recognition of an exceptional
the plant. This, coupled with recent movements impairment reversal of \u00a329.4m (2025: \u00a3nil).
in observable power prices, was deemed to be an The Group acquired its investment in Triton on
indicator of impairment reversal, resulting in a 1 September 2022 during a period of significant
formal review. volatility in the UK power market. On acquisition the
Modelling methodology and assumptions Group recorded an exceptional gain on acquisition
The Group has valued its 50% equity investment due to movements in short term gas and power
Triton Power Holdings Limited (\u201cTriton\u201d) based on prices between the purchase agreement and
projected cashflows that will be available to completion dates. While the investment is an equity
shareholders of the investment on a VIU basis. accounted joint venture, the investment has been
impaired in previous periods and is sensitive to
The VIU assessment of the Triton power stations market movements. The current year impairment
(Saltend, Indian Queens and Deeside) is used to reversal has been classified as exceptional to align
test the carrying value of the equity investment with the treatment of previous impairments (see
of \u00a3111.6m (2025: \u00a3137.8m). The assessments note 7 ).
were based on pre-tax discounted cash flows
expected to be generated by each power station, Sensitivity analysis
based on management\u2019s view of operating The principal assumption impacting the valuation
prospects and operational flexibility within the model of Triton is the non-contracted capacity
GB wholesale market, including capacity market market price.
clearing prices. Cash flows are subject to a A \u00a310/KW increase in non-contracted capacity
pre-tax real discount rate of 15.1% (blended) market price would result in a further impairment
(2025: 12.7% (blended)). reversal of \u00a314.8m (2025: reversal of \u00a316.5m), while
a \u00a310/KW decrease in the assumption would
decrease the impairment reversal to \u00a314.6m
(2025: impairment of \u00a311.4m).
While other assumptions such as gross margin and
discount rates are estimated by management,
reasonably plausible movements in these
assumptions result in immaterial movements to the
impairment conclusion.
Cash flow period
Assets
assumption
Operating and other valuation assumptions
Commentary and impairment conclusions
Investment in 5 years Indicator of impairment reversal Conclusion
Neos Networks The Group\u2019s investment in NNL was tested for The impairment test indicated headroom of \u00a315.9m
Limited (\u201cNNL\u201d) impairment or impairment reversal, following a above the carrying value. As the difference is
series of impairments in recent financial years. immaterial and has been assessed as part of a range
Modelling methodology and assumptions of positive and negative reasonably possible
outcomes, no impairment reversal has been
The Group has valued its investment in NNL based recognised at 31 March 2026 (2025: \u00a3nil).
on projected future cashflows that are expected to
arise from the business under a value in use (\u201cVIU\u201d) Sensitivity analysis
methodology. The VIU assessment is used to Reasonably possible changes to model input
test the carrying value of the equity investment assumptions did not alter the impairment test
and shareholder loan balances due from NNL at outcome, therefore have not been disclosed.
31 March 2026.
Due to recognition of the Group\u2019s share of losses in
the joint venture, the carrying value of the Group\u2019s
equity investment has now reduced to nil
(2025: \u00a31.3m), while shareholder loans are carried at
\u00a386.7m (2025: \u00a383.5m). The Group has assessed
that it is not required to recognise its share of further
losses arising from the investment (see note 16
).
The impairment assessment was derived from pre-
tax discounted cash flows based on management\u2019s
view of operating prospects.
Cash flows are subject to a pre-tax real discount
rate of 7.2% (2025: 8.2%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-694": { "value": "
16. Investments
16.1 Joint Ventures and associates
2026
2025
Equity Loans Total Equity Loans Total
Share of net assets/cost \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
1,987.3
1,510.3
3,497.6
1,963.2
1,352.9
3,316.1
Additions
60.8
243.6
304.4
153.4
280.0
433.4
Repayment of shareholder loans
\u2013
(94.5)
(94.5)
\u2013
(121.7)
(121.7)
Dividends received
(184.1)
\u2013
(184.1)
(200.6)
\u2013
(200.6)
Share of profit after tax
(i)
88.0
\u2013
88.0
91.6
\u2013
91.6
Share of other comprehensive income
(50.8)
\u2013
(50.8)
(0.9)
\u2013
(0.9)
Disposals
(4.6)
\u2013
(4.6)
\u2013
\u2013
\u2013
Transfer \u2013 loans to equity
25.5
(25.5)
\u2013
\u2013
\u2013
\u2013
Transfers \u2013 other investments
\u2013
\u2013
\u2013
(4.6)
\u2013
(4.6)
Impairments
(ii)
21.3
(15.6)
5.7
\u2013
\u2013
\u2013
Investment decrease in respect of financial
guarantees
(iii)
(2.3)
\u2013
(2.3)
(12.1)
\u2013
(12.1)
Exchange rate adjustments
4.0
2.9
6.9
(2.7)
(0.9)
(3.6)
At 31 March
1,945.1
1,621.2
3,566.3
1,987.3
1,510.3
3,497.6
(i) The Group recognised losses of \u00a31.3m from its joint venture investment Neos Networks Limited in the year ended 31 March 2026. While the Group\u2019s total share of losses totalled \u00a330.9m for
the 12 months ended 31 March 2026, only \u00a31.3m was recognised as this reduced the equity investment to \u00a3nil. For 31 March 2025 of the \u00a391.6m share of profit, only \u00a389.9m was recognised
through the income statement, as \u00a31.7m related to profits earning from SSE Group companies where the cost were capitalised and the related profit eliminated on consolidation.
(ii) The net impairment credit for the year ended 31 March 2026 of \u00a35.7m is comprised of an exceptional impairment reversal of \u00a329.4m relating to Triton Power Holdings Limited (see note
15.2), offset by an exceptional impairment charge of \u00a317.6m relating to the Group\u2019s joint venture investments in hydrogen development projects (see note 7.1) and non-exceptional expected
credit loss impairment charges of \u00a36.1m.
(iii) The investment decrease in respect of financial guarantees relates to \u00a33.1m (2025: \u00a312.5m) of unwind and expiry of guarantee contracts, less \u00a30.8m (2025: \u00a30.4m) for the fair value of fees
receivable on guarantees granted to joint venture investments during the year.
16.2 Additions and disposals of equity in the current year
Additions and disposals in the year
During the year the Group provided equity and loans to its existing joint venture investments of \u00a360.8m and \u00a3243.6m respectively, primarily in
relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited.
During the year ended 31 March 2026 the Group completed the acquisition of a further 50% equity interest in Lenalea Wind Farm DAC
(\u201cLenalea\u201d) from FuturEnergy Ireland Development Holdings DAC for cash consideration of \u20ac26.0m, therefore recognising Lenalea as a
100% subsidiary and disposing of its joint venture investment.
16.3 Additions and disposals of equity in the previous year
Additions in the previous year
On 10 September 2024 the Group sold a 50% equity share in SSE DE EV Hold Co Limited to form the 50:50 Source EV joint venture with
TotalEnergies Marketing UK Limited for cash consideration of \u00a316.5m. Following the completion of the transaction, both shareholders provided
the joint venture with \u00a35.1m of shareholder loans and \u00a310.0m of equity funding.
During the year ended 31 March 2025 the Group provided equity and loans to its existing joint venture investments of \u00a3129.4m and \u00a3274.9m
respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited.
There were no significant disposals in the previous year.
16.4 Principal joint ventures and associates Under IFRS 12 \u201cDisclosure of Interests in Other Entities\u201d, the Group has evaluated the key joint ventures and associates it holds with the purpose of disclosing any which are materially significant in order to identify the impact on the Group\u2019s financial position, performance and cash flows, whilst identifying the nature of the risks associated with these interests. A full listing of the Group\u2019s incorporated joint ventures, joint operations, associates and investments are included in the Accompanying Information (A3 ). Share of results of joint ventures and associates
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
456.9
392.3
25.3
874.5
940.9
Other income
108.7
\u2013
\u2013
108.7
109.7
Depreciation and amortisation
(137.0)
(34.8)
(1.2)
(173.0)
(226.0)
Other operating costs
(149.3)
(321.4)
(28.5)
(499.2)
(540.3)
Operating profit
279.3
36.1
(4.4)
311.0
284.3
Interest expense
(143.5)
(10.9)
(1.3)
(155.7)
(164.3)
Changes in fair value of derivatives
(23.6)
2.1
0.1
(21.4)
(28.1)
Corporation tax
(38.3)
(8.8)
1.2
(45.9)
(2.0)
Share of post taxation results
73.9
18.5
(4.4)
88.0
89.9
Recognised in other comprehensive income
Cashflow hedges
(46.7)
\u2013
\u2013
(46.7)
(22.3)
Taxation
11.7
\u2013
\u2013
11.7
5.6
Other
\u2013
\u2013
(15.8)
(15.8)
15.8
Total comprehensive income
38.9
18.5
(20.2)
37.2
89.0
Share of joint ventures and associates\u2019 assets and liabilities
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
6,413.5
456.6
313.9
7,184.0
7,263.9
Current assets
731.4
127.0
18.0
876.4
297.9
Cash and cash equivalents
210.2
51.3
12.6
274.1
329.2
Current liabilities
(521.1)
(113.3)
(73.3)
(707.7)
(389.2)
Non-current liabilities
(5,738.8)
(229.6)
(201.3)
(6,169.7)
(6,007.5)
1,095.2
292.0
69.9
1,457.1
1,494.3
Other adjustments
456.1
31.6
0.3
488.0
493.0
Share of net assets of joint ventures and associates
1,551.3
323.6
70.2
1,945.1
1,987.3
Shareholder loans
1,351.0
172.5
97.7
1,621.2
1,510.3
Interest in joint venture and associate
2,902.3
496.1
167.9
3,566.3
3,497.6
(i) Other comprises the investments the Group holds in Neos Networks Limited, Source EV Limited, Corran Environmental LP and Marron Activ8 Energies Limited. Information on Group\u2019s investments in joint ventures and associates is provided at A3, A4 and A5 .
16.5 Joint operations
Listed are the incorporated joint operations that have a material impact on the financial position and financial results of the Group.
Country of Class of shares Proportion of Group Interest
Principal activity incorporation held shares held (%) (%) Year end
Greater Gabbard Offshore Winds Limited
Offshore Wind farm
UK
Ordinary
50.0
50.0
31 March
Eastern Green Link 2 Limited
Power Transmission
UK
Ordinary
50.0
37.5
31 March
The Group\u2019s interest in Greater Gabbard Offshore Winds Limited is that of a joint operation designed to provide output to the parties sharing
control. The liabilities of the arrangement are principally met by the parties through the contracts for the output of the wind farm.
Eastern Green Link 2 Limited is a joint operation between Scottish Hydro Electric Transmission plc and National Grid Electricity Transmission plc
to install a 2GW subsea high-voltage connection.
The Group also has an unincorporated arrangement with Equinor under which it accounts for its 66.7% share of the Aldbrough gas storage
facility owned by SSE Hornsea Limited.
16.6 Other investments held at fair value through other comprehensive income
2026 2025
\u00a3m \u00a3m
At 1 April
8.8
3.2
Additions in year
0.1
1.9
Disposals in year
(1.4)
(0.1)
Transfers from investments in joint ventures and associates
\u2013
4.6
Fair value adjustment through other comprehensive income
0.1
(0.8)
At 31 March
7.6
8.8
A3.1.2 Joint arrangements (incorporated)
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
AtlasConnect Limited
A
50.0
H2Northeast Limited
H
50.0
Baglan Pipeline Limited
K
50.0
Indian Queens Power Limited
AF
50.0
Beatrice Offshore Windfarm Holdco Limited
A
40.0
Marchwood Power Limited
N
50.0
Beatrice Offshore Windfarm Limited
A
40.0
Neos Networks Limited
A
50.0
Clyde Windfarm (Scotland) Limited **
A
50.1
NNXYZ Limited
B
50.0
DB Operational Base Limited
J
40.0
North Falls Offshore Wind Farm Holdco Limited
AG
50.0
Deeside Power (UK) Limited
AF
50.0
North Falls Offshore Wind Farm Limited
AG
50.0
Deeside Power Operations Limited
AF
50.0
Ossian Offshore Wind Farm Holdings Limited
A
40.0
Digital Reach Partners Limited (formerly D Reach
B
50.0
Ossian Offshore Wind Farm Limited
A
40.0
Partners Limited)
Doggerbank Offshore Wind Farm Project 1
B
40.0
Pride (SERP) Limited
AI
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 1
B
40.0
Reach Fibre Company Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Holdings Group Limited
B
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Infrastructure Group Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Cogeneration Company Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Operations Company Limited
AF
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
SCCL Holdings Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
Seabank Power Limited
O
50.0
Leaseco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A (Holdco) Limited
B
49.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A Limited
B
49.0
Projco Limited
DRPXYZ Limited (formerly Digital Reach Partners
A
50.0
Seagreen Alpha Wind Energy Limited
B
49.0
Limited)
Dunmaglass Wind Farm Limited
A
50.1
Seagreen Bravo Wind Energy Limited
B
49.0
Eastern Green Link 2 Limited ***
B
50.0
Seagreen Holdco 1 Limited
B
49.0
Eastern Green Link 3 Limited ***
B
50.0
Seagreen Wind Energy Limited
B
49.0
Fearna PSH Limited
B
50.0
Source EV Limited
B
50.0
Greater Gabbard Offshore Winds Limited ***
B
50.0
Source EV UK Limited
B
50.0
Green H2 Developments Hold Co Limited
B
50.0
SSE Slough Multifuel Holdco Limited
B
50.0
Green H2 Developments Project Co Limited
B
50.0
SSE Slough Multifuel Limited
B
50.0
H2NE Parentco Limited
H
50.0
Stronelairg Wind Farm Limited
A
50.1
Ireland
Allbrite Heatpump Specialists Limited
R
25.0
Green Energy Company Limited **
M
50.0
Bellair Wind Farm Designated Activity Company
I
50.0
Green Way Energy Limited
M
50.0
Cloosh Valley Wind Farm Designated Activity
L
25.0
Kerry Power Limited
M
49.0
Company
Cloosh Valley Wind Farm Holdings Designated
L
25.0
Kilberry Wind Farm Designated Activity Company I
50.0
Activity Company
Coolnagun Wind Farm Designated Activity
I
50.0
Lemanaghan Wind Farm Designated Activity
I
50.0
Company Company
Cornafulla Wind Farm Designated Activity
I
50.0
Littleton Wind Farm Designated Activity
I
50.0
Company Company
Derryfadda Wind Farm Designated Activity
I
50.0
Marron Activ8 Energies Limited
R
50.0
Company
Drumnahough Wind Farm Designated Activity
C
50.0
Midas Energy Limited
M
49.0
Company
Everwind Limited
S
49.0
Source EV Ireland Limited
C
50.0
Garryhinch Wind Farm Designated Activity
I
50.0
Company
Jersey
Triton Power Holdings Limited
AH
50.0
Triton Power Limited
AH
50.0
Triton Power Intermediate Holdings Limited
AH
50.0
Netherlands
Lely Alpha Offshore Wind General Partner B.V.
AA
50.0
Lely Alpha Offshore Wind Projco C.V.
AA
50.0
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
Spain
ICE Santa Engracia, S.L.
V
44.6
** Holding represents % of voting rights *** Joint Operation A4. Joint ventures and associates The Directors have assessed that the investments in the following equity accounted joint ventures and associates are of a sufficiently material impact to warrant additional disclosure on an individual basis. Details of the financial position and financial results of the Group:
Class of Proportion of
Company shares held
shares held %
Group Interest %
Year end date
Consolidation basis
United Kingdom
Seabank Power Limited
Ordinary
50.0
50.0
31 December
Equity
Marchwood Power Limited
Ordinary
50.0
50.0
31 December
Equity
SSE Slough Multifuel Holdco Limited
Ordinary
50.0
50.0
31 March
Equity
Clyde Windfarm (Scotland) Limited
Ordinary
50.1
50.1
31 March
Equity
Seagreen Holdco 1 Limited
Ordinary
49.0
49.0
31 March
Equity
Beatrice Offshore Windfarm Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Dunmaglass Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Stronelairg Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Doggerbank Offshore Wind Farm Project 1 Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Jersey
Triton Power Holdings Limited
Ordinary
50.0
50.0
31 December
Equity
Summary information for material joint ventures and associates from unaudited financial statements is as follows:
Doggerbank
Beatrice Offshore
SSE Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i)
Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
279.8
69.1
64.9
206.9
322.5
149.4
43.5
105.3
370.5
109.9
230.0
1,951.8
Other income
\u2013
\u2013
\u2013
\u2013
3 . 9
2 6 6 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 7 0 . 8
Depreciation and
amortisation
(11.7)
(7.8)
(14.9)
(29.3)
(98.4)
(88.5)
(8.0)
(13.7)
(33.6)
(9.6)
(140.9)
(456.4)
Other operating costs
(232.5)
(21.3)
(23.4)
(44.4)
(101.0)
(133.1)
(9.6)
(19.1)
(365.3)
(11.4)
(130.1)
(1,091.2)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(48.6)
\u2013
\u2013
\u2013
4.2
\u2013
0.5
(43.9)
Operating profit
35.6
40.0
26.6
133.2
78.4
194.7
25.9
72.5
(24.2)
88.9
(40.5)
631.1
Interest expense
0.3
(0.7)
(23.6)
(21.1)
(153.9)
(56.9)
(6.5)
(12.9)
2.2
(58.5)
(33.9)
(365.5)
Profit before tax
35.9
39.3
3.0
112.1
(75.5)
137.8
19.4
59.6
(22.0)
30.4
(74.4)
265.6
Corporation tax
(8.3)
(9.7)
\u2013
(29.3)
4.1
(34.7)
(4.4)
(14.8)
0.5
(3.5)
0.5
(99.6)
Profit after tax
27.6
29.6
3.0
82.8
(71.4)
103.1
15.0
44.8
(21.5)
26.9
(73.9)
166.0
Recognised in other
comprehensive
income
Cash flow hedges
\u2013
\u2013
\u2013
\u2013
(13.2)
(26.2)
\u2013
\u2013
\u2013
(24.7)
(47.4)
(111.5)
Taxation
\u2013
\u2013
\u2013
\u2013
3.3
6.6
\u2013
\u2013
\u2013
6.2
11.8
27.9
Other
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 . 8 )
( 1 5 . 8 )
Total comprehensive
\u2013
\u2013
\u2013
\u2013
(9.9)
(19.6)
\u2013
\u2013
\u2013
(18.5)
(51.4)
(99.4)
income/(loss)
27.6
29.6
3.0
82.8
(81.3)
83.5
15.0
44.8
(21.5)
8.4
(125.3)
66.6
SSE share of profit
(based on % equity)
13.8
14.8
1.5
41.5
(35.0)
41.2
7.5
22.4
(10.8)
10.8
(19.7)
88.0
Dividends paid to
shareholders
21.0
37.0
\u2013
116.1
26.6
53.7
25.5
68.5
25.0
\u2013
8.4
381.8
Non-current assets
114.5
107.4
455.3
472.4
2,946.6
1,531.7
156.9
289.4
202.2
3,153.4
6,607.6
16,037.4
Current assets
94.9
13.7
15.0
100.3
87.8
595.3
21.9
48.6
130.1
883.9
62.2
2,053.7
Cash and cash
equivalents
48.8
19.6
17.6
30.6
125.3
96.1
10.9
19.8
15.4
73.1
1 3 8 . 2
5 9 5 . 4
Current liabilities
(87.7)
(20.9)
(7.4)
(46.5)
(247.2)
(568.0)
(9.1)
(27.1)
(109.7)
(51.7)
(393.2)
(1,568.5)
Non-current liabilities
(42.8)
(32.8)
(351.1)
(427.4)
(2,230.9)
(1,527.5)
(143.4)
(260.7)
(12.5)
(3,415.0)
(5,528.6)
(13,972.7)
Net assets
127.7
87.0
129.4
129.4
681.6
127.6
37.2
70.0
225.5
643.7
886.2
3,145.3
Group equity interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership interest
63.9
43.5
64.7
64.8
334.0
51.0
18.6
35.1
112.8
257.5
411.2
1,457.1
Other adjustments
(21.0)
0.3
31.1
39.3
84.5
(1.1)
62.2
191.9
28.2
1.7
70.9
488.0
Carrying value of
Group\u2019s equity
interest
42.9
43.8
95.8
104.1
418.5
49.9
80.8
227.0
141.0
259.2
482.1
1,945.1
(restated
(ii)
)
Doggerbank
SSE Beatrice Offshore
Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i) (ii)
Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
288.1
96.3
60.0
194.6
354.0
171.1
37.7
106.6
402.6
14.8
212.1
1,937.9
Other income
\u2013
\u2013
\u2013
\u2013
23.2
245.7
\u2013
\u2013
\u2013
\u2013
0.1
269.0
Depreciation and
amortisation
(7.0)
(35.0)
(8.4)
(29.2)
(98.6)
(88.0)
(8.0)
(13.7)
(34.5)
(2.2)
(134.7)
(459.3)
Other operating
costs
(241.9)
(19.5)
(21.0)
(41.4)
(89.6)
(94.8)
(8.1)
(20.4)
(420.3)
(6.8)
(134.1)
(1,097.9)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(53.8)
\u2013
\u2013
\u2013
(3.4)
\u2013
\u2013
(57.2)
Operating profit
39.2
41.8
30.6
124.0
135.2
234.0
21.6
72.5
(55.6)
5.8
(56.6)
592.5
Interest expense
1.4
(1.6)
(15.2)
(18.5)
(209.3)
(59.3)
(6.2)
(11.9)
5.1
(1.5)
(31.0)
(348.0)
Profit before tax
40.6
40.2
15.4
105.5
(74.1)
174.7
15.4
60.6
(50.5)
4.3
(87.6)
244.5
Corporation tax
(11.1)
(9.2)
3.8
(26.9)
63.5
(22.7)
(3.4)
(14.8)
14.9
(1.1)
(0.7)
(7.7)
Profit after tax
29.5
31.0
19.2
78.6
(10.6)
152.0
12.0
45.8
(35.6)
3.2
(88.3)
236.8
Recognised in
other
comprehensive
income
Cash flow hedges
\u2013
\u2013
0.6
\u2013
(3.3)
(12.8)
\u2013
\u2013
\u2013
(49.8)
9.7
(55.6)
Taxation
\u2013
\u2013
\u2013
\u2013
0.8
3.3
\u2013
\u2013
\u2013
12.5
(2.6)
14.0
O t h e r
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
1 5 . 8
1 5 . 8
\u2013
\u2013
0.6
\u2013
(2.5)
(9.5)
\u2013
\u2013
\u2013
(37.3)
22.9
(25.8)
Total
comprehensive
income/(loss)
29.5
31.0
19.8
78.6
(13.1)
142.5
12.0
45.8
(35.6)
(34.1)
(65.4)
211.0
SSE share of profit
(based on %
equity)
14.8
15.5
9.6
39.4
(5.2)
60.8
6.0
22.9
(17.8)
1.3
(57.4)
89.9
Dividends paid to
shareholders
47.0
44.2
\u2013
102.0
38.9
119.3
12.4
55.0
\u2013
\u2013
11.1
429.9
Non-current assets
82.8
114.1
471.4
510.1
3,027.6
1,750.4
165.2
304.7
184.1
3,670.4
6,460.3
16,741.1
Current assets
56.7
8.5
14.9
86.8
47.2
62.7
16.7
49.8
164.1
21.6
94.7
623.7
Cash and cash
equivalents
51.8
20.7
21.9
45.1
95.3
104.0
18.4
27.7
5.1
60.6
278.8
729.4
Current liabilities
(44.9)
(18.2)
(11.1)
(42.8)
(13.0)
(199.7)
(7.3)
(25.5)
(68.7)
(86.7)
(348.7)
(866.6)
Non-current
liabilities
(26.3)
(29.5)
(370.6)
(431.7)
(2,424.9)
(1,619.6)
(144.8)
(262.5)
(12.3)
(3,042.7)
(5,649.7)
(14,014.6)
Net assets
120.1
95.6
126.5
167.5
732.2
97.8
48.2
94.2
272.3
623.2
835.4
3,213.0
Group equity
interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership
interest
60.1
47.8
63.3
83.9
358.8
39.1
24.1
47.2
136.2
249.3
384.5
1,494.3
Other adjustments
(20.4)
(0.3)
31.7
39.9
100.3
(1.1)
65.5
202.9
1.6
2.4
70.5
493.0
Carrying value of
Group\u2019s equity
interest
39.7
47.5
95.0
123.8
459.1
38.0
89.6
250.1
137.8
251.7
455.0
1,987.3
(i) In addition to the above the following joint ventures and associates have an equity carrying value that constitutes a material investment of the Group: Doggerbank Offshore Wind Farm
Project 2 Holdco Limited \u00a3128.4m (2025: \u00a3118.8m): Doggerbank Offshore Wind Farm Project 3 and 4 Holdco Limited \u00a395.0m (2025: \u00a390.6m) and Ossian Offshore Wind Farm Holdings Limited
\u00a363.6m (2025: \u00a360.8m).
(ii) The comparatives have been restated to present Neos Networks Limited in Other, based on the significance of the investment to the Group.
In addition to the above at 31 March 2026, the Group was owed the following loans from its principal joint ventures: SSE Slough Multifuel Holdco Limited \u00a3172.5m (2025: \u00a3181.3m); Clyde Windfarm (Scotland) Limited \u00a3127.1m (2025: 127.1m); Seagreen Holdco 1 Limited \u00a3648.0m (2025: \u00a3646.0m); Dunmaglass Wind Farm Limited \u00a346.6m (2025: \u00a346.6m); Stronelairg Wind Farm Limited \u00a388.7m (2025: \u00a388.7m); and Doggerbank Offshore Wind Farm Project 1 Holdco Limited \u00a3313.4m (2025: 188.3m). This represents 86% (2025: 85%) of the loans provided to equity-accounted joint ventures and associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-729": { "value": "16. Investments 16.1 Joint Ventures and associates
2026
2025
Equity Loans Total Equity Loans Total
Share of net assets/cost \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
1,987.3
1,510.3
3,497.6
1,963.2
1,352.9
3,316.1
Additions
60.8
243.6
304.4
153.4
280.0
433.4
Repayment of shareholder loans
\u2013
(94.5)
(94.5)
\u2013
(121.7)
(121.7)
Dividends received
(184.1)
\u2013
(184.1)
(200.6)
\u2013
(200.6)
Share of profit after tax
(i)
88.0
\u2013
88.0
91.6
\u2013
91.6
Share of other comprehensive income
(50.8)
\u2013
(50.8)
(0.9)
\u2013
(0.9)
Disposals
(4.6)
\u2013
(4.6)
\u2013
\u2013
\u2013
Transfer \u2013 loans to equity
25.5
(25.5)
\u2013
\u2013
\u2013
\u2013
Transfers \u2013 other investments
\u2013
\u2013
\u2013
(4.6)
\u2013
(4.6)
Impairments
(ii)
21.3
(15.6)
5.7
\u2013
\u2013
\u2013
Investment decrease in respect of financial
guarantees
(iii)
(2.3)
\u2013
(2.3)
(12.1)
\u2013
(12.1)
Exchange rate adjustments
4.0
2.9
6.9
(2.7)
(0.9)
(3.6)
At 31 March
1,945.1
1,621.2
3,566.3
1,987.3
1,510.3
3,497.6
(i) The Group recognised losses of \u00a31.3m from its joint venture investment Neos Networks Limited in the year ended 31 March 2026. While the Group\u2019s total share of losses totalled \u00a330.9m for the 12 months ended 31 March 2026, only \u00a31.3m was recognised as this reduced the equity investment to \u00a3nil. For 31 March 2025 of the \u00a391.6m share of profit, only \u00a389.9m was recognised through the income statement, as \u00a31.7m related to profits earning from SSE Group companies where the cost were capitalised and the related profit eliminated on consolidation. (ii) The net impairment credit for the year ended 31 March 2026 of \u00a35.7m is comprised of an exceptional impairment reversal of \u00a329.4m relating to Triton Power Holdings Limited (see note 15.2), offset by an exceptional impairment charge of \u00a317.6m relating to the Group\u2019s joint venture investments in hydrogen development projects (see note 7.1) and non-exceptional expected credit loss impairment charges of \u00a36.1m. (iii) The investment decrease in respect of financial guarantees relates to \u00a33.1m (2025: \u00a312.5m) of unwind and expiry of guarantee contracts, less \u00a30.8m (2025: \u00a30.4m) for the fair value of fees receivable on guarantees granted to joint venture investments during the year. 16.2 Additions and disposals of equity in the current year Additions and disposals in the year During the year the Group provided equity and loans to its existing joint venture investments of \u00a360.8m and \u00a3243.6m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. During the year ended 31 March 2026 the Group completed the acquisition of a further 50% equity interest in Lenalea Wind Farm DAC (\u201cLenalea\u201d) from FuturEnergy Ireland Development Holdings DAC for cash consideration of \u20ac26.0m, therefore recognising Lenalea as a 100% subsidiary and disposing of its joint venture investment. 16.3 Additions and disposals of equity in the previous year Additions in the previous year On 10 September 2024 the Group sold a 50% equity share in SSE DE EV Hold Co Limited to form the 50:50 Source EV joint venture with TotalEnergies Marketing UK Limited for cash consideration of \u00a316.5m. Following the completion of the transaction, both shareholders provided the joint venture with \u00a35.1m of shareholder loans and \u00a310.0m of equity funding. During the year ended 31 March 2025 the Group provided equity and loans to its existing joint venture investments of \u00a3129.4m and \u00a3274.9m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. There were no significant disposals in the previous year. 16.4 Principal joint ventures and associates Under IFRS 12 \u201cDisclosure of Interests in Other Entities\u201d, the Group has evaluated the key joint ventures and associates it holds with the purpose of disclosing any which are materially significant in order to identify the impact on the Group\u2019s financial position, performance and cash flows, whilst identifying the nature of the risks associated with these interests. A full listing of the Group\u2019s incorporated joint ventures, joint operations, associates and investments are included in the Accompanying Information (A3 ). Share of results of joint ventures and associates
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
456.9
392.3
25.3
874.5
940.9
Other income
108.7
\u2013
\u2013
108.7
109.7
Depreciation and amortisation
(137.0)
(34.8)
(1.2)
(173.0)
(226.0)
Other operating costs
(149.3)
(321.4)
(28.5)
(499.2)
(540.3)
Operating profit
279.3
36.1
(4.4)
311.0
284.3
Interest expense
(143.5)
(10.9)
(1.3)
(155.7)
(164.3)
Changes in fair value of derivatives
(23.6)
2.1
0.1
(21.4)
(28.1)
Corporation tax
(38.3)
(8.8)
1.2
(45.9)
(2.0)
Share of post taxation results
73.9
18.5
(4.4)
88.0
89.9
Recognised in other comprehensive income
Cashflow hedges
(46.7)
\u2013
\u2013
(46.7)
(22.3)
Taxation
11.7
\u2013
\u2013
11.7
5.6
Other
\u2013
\u2013
(15.8)
(15.8)
15.8
Total comprehensive income
38.9
18.5
(20.2)
37.2
89.0
Share of joint ventures and associates\u2019 assets and liabilities
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
6,413.5
456.6
313.9
7,184.0
7,263.9
Current assets
731.4
127.0
18.0
876.4
297.9
Cash and cash equivalents
210.2
51.3
12.6
274.1
329.2
Current liabilities
(521.1)
(113.3)
(73.3)
(707.7)
(389.2)
Non-current liabilities
(5,738.8)
(229.6)
(201.3)
(6,169.7)
(6,007.5)
1,095.2
292.0
69.9
1,457.1
1,494.3
Other adjustments
456.1
31.6
0.3
488.0
493.0
Share of net assets of joint ventures and associates
1,551.3
323.6
70.2
1,945.1
1,987.3
Shareholder loans
1,351.0
172.5
97.7
1,621.2
1,510.3
Interest in joint venture and associate
2,902.3
496.1
167.9
3,566.3
3,497.6
(i) Other comprises the investments the Group holds in Neos Networks Limited, Source EV Limited, Corran Environmental LP and Marron Activ8 Energies Limited. Information on Group\u2019s investments in joint ventures and associates is provided at A3, A4 and A5 . A3.1.3 Associates
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
Corran Environmental LP
AK
74.0
St Clements Services Limited
P
25.0
A4. Joint ventures and associates The Directors have assessed that the investments in the following equity accounted joint ventures and associates are of a sufficiently material impact to warrant additional disclosure on an individual basis. Details of the financial position and financial results of the Group:
Class of Proportion of
Company shares held
shares held %
Group Interest %
Year end date
Consolidation basis
United Kingdom
Seabank Power Limited
Ordinary
50.0
50.0
31 December
Equity
Marchwood Power Limited
Ordinary
50.0
50.0
31 December
Equity
SSE Slough Multifuel Holdco Limited
Ordinary
50.0
50.0
31 March
Equity
Clyde Windfarm (Scotland) Limited
Ordinary
50.1
50.1
31 March
Equity
Seagreen Holdco 1 Limited
Ordinary
49.0
49.0
31 March
Equity
Beatrice Offshore Windfarm Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Dunmaglass Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Stronelairg Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Doggerbank Offshore Wind Farm Project 1 Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Jersey
Triton Power Holdings Limited
Ordinary
50.0
50.0
31 December
Equity
Summary information for material joint ventures and associates from unaudited financial statements is as follows:
Doggerbank
Beatrice Offshore
SSE Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i)
Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
279.8
69.1
64.9
206.9
322.5
149.4
43.5
105.3
370.5
109.9
230.0
1,951.8
Other income
\u2013
\u2013
\u2013
\u2013
3 . 9
2 6 6 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 7 0 . 8
Depreciation and
amortisation
(11.7)
(7.8)
(14.9)
(29.3)
(98.4)
(88.5)
(8.0)
(13.7)
(33.6)
(9.6)
(140.9)
(456.4)
Other operating costs
(232.5)
(21.3)
(23.4)
(44.4)
(101.0)
(133.1)
(9.6)
(19.1)
(365.3)
(11.4)
(130.1)
(1,091.2)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(48.6)
\u2013
\u2013
\u2013
4.2
\u2013
0.5
(43.9)
Operating profit
35.6
40.0
26.6
133.2
78.4
194.7
25.9
72.5
(24.2)
88.9
(40.5)
631.1
Interest expense
0.3
(0.7)
(23.6)
(21.1)
(153.9)
(56.9)
(6.5)
(12.9)
2.2
(58.5)
(33.9)
(365.5)
Profit before tax
35.9
39.3
3.0
112.1
(75.5)
137.8
19.4
59.6
(22.0)
30.4
(74.4)
265.6
Corporation tax
(8.3)
(9.7)
\u2013
(29.3)
4.1
(34.7)
(4.4)
(14.8)
0.5
(3.5)
0.5
(99.6)
Profit after tax
27.6
29.6
3.0
82.8
(71.4)
103.1
15.0
44.8
(21.5)
26.9
(73.9)
166.0
Recognised in other
comprehensive
income
Cash flow hedges
\u2013
\u2013
\u2013
\u2013
(13.2)
(26.2)
\u2013
\u2013
\u2013
(24.7)
(47.4)
(111.5)
Taxation
\u2013
\u2013
\u2013
\u2013
3.3
6.6
\u2013
\u2013
\u2013
6.2
11.8
27.9
Other
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 . 8 )
( 1 5 . 8 )
Total comprehensive
\u2013
\u2013
\u2013
\u2013
(9.9)
(19.6)
\u2013
\u2013
\u2013
(18.5)
(51.4)
(99.4)
income/(loss)
27.6
29.6
3.0
82.8
(81.3)
83.5
15.0
44.8
(21.5)
8.4
(125.3)
66.6
SSE share of profit
(based on % equity)
13.8
14.8
1.5
41.5
(35.0)
41.2
7.5
22.4
(10.8)
10.8
(19.7)
88.0
Dividends paid to
shareholders
21.0
37.0
\u2013
116.1
26.6
53.7
25.5
68.5
25.0
\u2013
8.4
381.8
Non-current assets
114.5
107.4
455.3
472.4
2,946.6
1,531.7
156.9
289.4
202.2
3,153.4
6,607.6
16,037.4
Current assets
94.9
13.7
15.0
100.3
87.8
595.3
21.9
48.6
130.1
883.9
62.2
2,053.7
Cash and cash
equivalents
48.8
19.6
17.6
30.6
125.3
96.1
10.9
19.8
15.4
73.1
1 3 8 . 2
5 9 5 . 4
Current liabilities
(87.7)
(20.9)
(7.4)
(46.5)
(247.2)
(568.0)
(9.1)
(27.1)
(109.7)
(51.7)
(393.2)
(1,568.5)
Non-current liabilities
(42.8)
(32.8)
(351.1)
(427.4)
(2,230.9)
(1,527.5)
(143.4)
(260.7)
(12.5)
(3,415.0)
(5,528.6)
(13,972.7)
Net assets
127.7
87.0
129.4
129.4
681.6
127.6
37.2
70.0
225.5
643.7
886.2
3,145.3
Group equity interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership interest
63.9
43.5
64.7
64.8
334.0
51.0
18.6
35.1
112.8
257.5
411.2
1,457.1
Other adjustments
(21.0)
0.3
31.1
39.3
84.5
(1.1)
62.2
191.9
28.2
1.7
70.9
488.0
Carrying value of
Group\u2019s equity
interest
42.9
43.8
95.8
104.1
418.5
49.9
80.8
227.0
141.0
259.2
482.1
1,945.1
(restated
(ii)
)
Doggerbank
SSE Beatrice Offshore
Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i) (ii)
Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
288.1
96.3
60.0
194.6
354.0
171.1
37.7
106.6
402.6
14.8
212.1
1,937.9
Other income
\u2013
\u2013
\u2013
\u2013
23.2
245.7
\u2013
\u2013
\u2013
\u2013
0.1
269.0
Depreciation and
amortisation
(7.0)
(35.0)
(8.4)
(29.2)
(98.6)
(88.0)
(8.0)
(13.7)
(34.5)
(2.2)
(134.7)
(459.3)
Other operating
costs
(241.9)
(19.5)
(21.0)
(41.4)
(89.6)
(94.8)
(8.1)
(20.4)
(420.3)
(6.8)
(134.1)
(1,097.9)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(53.8)
\u2013
\u2013
\u2013
(3.4)
\u2013
\u2013
(57.2)
Operating profit
39.2
41.8
30.6
124.0
135.2
234.0
21.6
72.5
(55.6)
5.8
(56.6)
592.5
Interest expense
1.4
(1.6)
(15.2)
(18.5)
(209.3)
(59.3)
(6.2)
(11.9)
5.1
(1.5)
(31.0)
(348.0)
Profit before tax
40.6
40.2
15.4
105.5
(74.1)
174.7
15.4
60.6
(50.5)
4.3
(87.6)
244.5
Corporation tax
(11.1)
(9.2)
3.8
(26.9)
63.5
(22.7)
(3.4)
(14.8)
14.9
(1.1)
(0.7)
(7.7)
Profit after tax
29.5
31.0
19.2
78.6
(10.6)
152.0
12.0
45.8
(35.6)
3.2
(88.3)
236.8
Recognised in
other
comprehensive
income
Cash flow hedges
\u2013
\u2013
0.6
\u2013
(3.3)
(12.8)
\u2013
\u2013
\u2013
(49.8)
9.7
(55.6)
Taxation
\u2013
\u2013
\u2013
\u2013
0.8
3.3
\u2013
\u2013
\u2013
12.5
(2.6)
14.0
O t h e r
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
1 5 . 8
1 5 . 8
\u2013
\u2013
0.6
\u2013
(2.5)
(9.5)
\u2013
\u2013
\u2013
(37.3)
22.9
(25.8)
Total
comprehensive
income/(loss)
29.5
31.0
19.8
78.6
(13.1)
142.5
12.0
45.8
(35.6)
(34.1)
(65.4)
211.0
SSE share of profit
(based on %
equity)
14.8
15.5
9.6
39.4
(5.2)
60.8
6.0
22.9
(17.8)
1.3
(57.4)
89.9
Dividends paid to
shareholders
47.0
44.2
\u2013
102.0
38.9
119.3
12.4
55.0
\u2013
\u2013
11.1
429.9
Non-current assets
82.8
114.1
471.4
510.1
3,027.6
1,750.4
165.2
304.7
184.1
3,670.4
6,460.3
16,741.1
Current assets
56.7
8.5
14.9
86.8
47.2
62.7
16.7
49.8
164.1
21.6
94.7
623.7
Cash and cash
equivalents
51.8
20.7
21.9
45.1
95.3
104.0
18.4
27.7
5.1
60.6
278.8
729.4
Current liabilities
(44.9)
(18.2)
(11.1)
(42.8)
(13.0)
(199.7)
(7.3)
(25.5)
(68.7)
(86.7)
(348.7)
(866.6)
Non-current
liabilities
(26.3)
(29.5)
(370.6)
(431.7)
(2,424.9)
(1,619.6)
(144.8)
(262.5)
(12.3)
(3,042.7)
(5,649.7)
(14,014.6)
Net assets
120.1
95.6
126.5
167.5
732.2
97.8
48.2
94.2
272.3
623.2
835.4
3,213.0
Group equity
interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership
interest
60.1
47.8
63.3
83.9
358.8
39.1
24.1
47.2
136.2
249.3
384.5
1,494.3
Other adjustments
(20.4)
(0.3)
31.7
39.9
100.3
(1.1)
65.5
202.9
1.6
2.4
70.5
493.0
Carrying value of
Group\u2019s equity
interest
39.7
47.5
95.0
123.8
459.1
38.0
89.6
250.1
137.8
251.7
455.0
1,987.3
(i) In addition to the above the following joint ventures and associates have an equity carrying value that constitutes a material investment of the Group: Doggerbank Offshore Wind Farm Project 2 Holdco Limited \u00a3128.4m (2025: \u00a3118.8m): Doggerbank Offshore Wind Farm Project 3 and 4 Holdco Limited \u00a395.0m (2025: \u00a390.6m) and Ossian Offshore Wind Farm Holdings Limited \u00a363.6m (2025: \u00a360.8m). (ii) The comparatives have been restated to present Neos Networks Limited in Other, based on the significance of the investment to the Group. In addition to the above at 31 March 2026, the Group was owed the following loans from its principal joint ventures: SSE Slough Multifuel Holdco Limited \u00a3172.5m (2025: \u00a3181.3m); Clyde Windfarm (Scotland) Limited \u00a3127.1m (2025: 127.1m); Seagreen Holdco 1 Limited \u00a3648.0m (2025: \u00a3646.0m); Dunmaglass Wind Farm Limited \u00a346.6m (2025: \u00a346.6m); Stronelairg Wind Farm Limited \u00a388.7m (2025: \u00a388.7m); and Doggerbank Offshore Wind Farm Project 1 Holdco Limited \u00a3313.4m (2025: 188.3m). This represents 86% (2025: 85%) of the loans provided to equity-accounted joint ventures and associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-768": { "value": "16. Investments 16.1 Joint Ventures and associates
2026
2025
Equity Loans Total Equity Loans Total
Share of net assets/cost \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
1,987.3
1,510.3
3,497.6
1,963.2
1,352.9
3,316.1
Additions
60.8
243.6
304.4
153.4
280.0
433.4
Repayment of shareholder loans
\u2013
(94.5)
(94.5)
\u2013
(121.7)
(121.7)
Dividends received
(184.1)
\u2013
(184.1)
(200.6)
\u2013
(200.6)
Share of profit after tax
(i)
88.0
\u2013
88.0
91.6
\u2013
91.6
Share of other comprehensive income
(50.8)
\u2013
(50.8)
(0.9)
\u2013
(0.9)
Disposals
(4.6)
\u2013
(4.6)
\u2013
\u2013
\u2013
Transfer \u2013 loans to equity
25.5
(25.5)
\u2013
\u2013
\u2013
\u2013
Transfers \u2013 other investments
\u2013
\u2013
\u2013
(4.6)
\u2013
(4.6)
Impairments
(ii)
21.3
(15.6)
5.7
\u2013
\u2013
\u2013
Investment decrease in respect of financial
guarantees
(iii)
(2.3)
\u2013
(2.3)
(12.1)
\u2013
(12.1)
Exchange rate adjustments
4.0
2.9
6.9
(2.7)
(0.9)
(3.6)
At 31 March
1,945.1
1,621.2
3,566.3
1,987.3
1,510.3
3,497.6
(i) The Group recognised losses of \u00a31.3m from its joint venture investment Neos Networks Limited in the year ended 31 March 2026. While the Group\u2019s total share of losses totalled \u00a330.9m for the 12 months ended 31 March 2026, only \u00a31.3m was recognised as this reduced the equity investment to \u00a3nil. For 31 March 2025 of the \u00a391.6m share of profit, only \u00a389.9m was recognised through the income statement, as \u00a31.7m related to profits earning from SSE Group companies where the cost were capitalised and the related profit eliminated on consolidation. (ii) The net impairment credit for the year ended 31 March 2026 of \u00a35.7m is comprised of an exceptional impairment reversal of \u00a329.4m relating to Triton Power Holdings Limited (see note 15.2), offset by an exceptional impairment charge of \u00a317.6m relating to the Group\u2019s joint venture investments in hydrogen development projects (see note 7.1) and non-exceptional expected credit loss impairment charges of \u00a36.1m. (iii) The investment decrease in respect of financial guarantees relates to \u00a33.1m (2025: \u00a312.5m) of unwind and expiry of guarantee contracts, less \u00a30.8m (2025: \u00a30.4m) for the fair value of fees receivable on guarantees granted to joint venture investments during the year. 16.2 Additions and disposals of equity in the current year Additions and disposals in the year During the year the Group provided equity and loans to its existing joint venture investments of \u00a360.8m and \u00a3243.6m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. During the year ended 31 March 2026 the Group completed the acquisition of a further 50% equity interest in Lenalea Wind Farm DAC (\u201cLenalea\u201d) from FuturEnergy Ireland Development Holdings DAC for cash consideration of \u20ac26.0m, therefore recognising Lenalea as a 100% subsidiary and disposing of its joint venture investment. 16.3 Additions and disposals of equity in the previous year Additions in the previous year On 10 September 2024 the Group sold a 50% equity share in SSE DE EV Hold Co Limited to form the 50:50 Source EV joint venture with TotalEnergies Marketing UK Limited for cash consideration of \u00a316.5m. Following the completion of the transaction, both shareholders provided the joint venture with \u00a35.1m of shareholder loans and \u00a310.0m of equity funding. During the year ended 31 March 2025 the Group provided equity and loans to its existing joint venture investments of \u00a3129.4m and \u00a3274.9m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. There were no significant disposals in the previous year.
16.4 Principal joint ventures and associates
Under IFRS 12 \u201cDisclosure of Interests in Other Entities\u201d, the Group has evaluated the key joint ventures and associates it holds with the purpose
of disclosing any which are materially significant in order to identify the impact on the Group\u2019s financial position, performance and cash flows,
whilst identifying the nature of the risks associated with these interests. A full listing of the Group\u2019s incorporated joint ventures, joint operations,
associates and investments are included in the Accompanying Information (A3
).
Share of results of joint ventures and associates
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
456.9
392.3
25.3
874.5
940.9
Other income
108.7
\u2013
\u2013
108.7
109.7
Depreciation and amortisation
(137.0)
(34.8)
(1.2)
(173.0)
(226.0)
Other operating costs
(149.3)
(321.4)
(28.5)
(499.2)
(540.3)
Operating profit
279.3
36.1
(4.4)
311.0
284.3
Interest expense
(143.5)
(10.9)
(1.3)
(155.7)
(164.3)
Changes in fair value of derivatives
(23.6)
2.1
0.1
(21.4)
(28.1)
Corporation tax
(38.3)
(8.8)
1.2
(45.9)
(2.0)
Share of post taxation results
73.9
18.5
(4.4)
88.0
89.9
Recognised in other comprehensive income
Cashflow hedges
(46.7)
\u2013
\u2013
(46.7)
(22.3)
Taxation
11.7
\u2013
\u2013
11.7
5.6
Other
\u2013
\u2013
(15.8)
(15.8)
15.8
Total comprehensive income
38.9
18.5
(20.2)
37.2
89.0
Share of joint ventures and associates\u2019 assets and liabilities
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
6,413.5
456.6
313.9
7,184.0
7,263.9
Current assets
731.4
127.0
18.0
876.4
297.9
Cash and cash equivalents
210.2
51.3
12.6
274.1
329.2
Current liabilities
(521.1)
(113.3)
(73.3)
(707.7)
(389.2)
Non-current liabilities
(5,738.8)
(229.6)
(201.3)
(6,169.7)
(6,007.5)
1,095.2
292.0
69.9
1,457.1
1,494.3
Other adjustments
456.1
31.6
0.3
488.0
493.0
Share of net assets of joint ventures and associates
1,551.3
323.6
70.2
1,945.1
1,987.3
Shareholder loans
1,351.0
172.5
97.7
1,621.2
1,510.3
Interest in joint venture and associate
2,902.3
496.1
167.9
3,566.3
3,497.6
(i) Other comprises the investments the Group holds in Neos Networks Limited, Source EV Limited, Corran Environmental LP and Marron Activ8 Energies Limited.
Information on Group\u2019s investments in joint ventures and associates is provided at A3, A4 and A5 .
16.5 Joint operations Listed are the incorporated joint operations that have a material impact on the financial position and financial results of the Group.
Country of Class of shares Proportion of Group Interest
Principal activity incorporation held shares held (%) (%) Year end
Greater Gabbard Offshore Winds Limited
Offshore Wind farm
UK
Ordinary
50.0
50.0
31 March
Eastern Green Link 2 Limited
Power Transmission
UK
Ordinary
50.0
37.5
31 March
The Group\u2019s interest in Greater Gabbard Offshore Winds Limited is that of a joint operation designed to provide output to the parties sharing control. The liabilities of the arrangement are principally met by the parties through the contracts for the output of the wind farm. Eastern Green Link 2 Limited is a joint operation between Scottish Hydro Electric Transmission plc and National Grid Electricity Transmission plc to install a 2GW subsea high-voltage connection. The Group also has an unincorporated arrangement with Equinor under which it accounts for its 66.7% share of the Aldbrough gas storage facility owned by SSE Hornsea Limited. 16.6 Other investments held at fair value through other comprehensive income
2026 2025
\u00a3m \u00a3m
At 1 April
8.8
3.2
Additions in year
0.1
1.9
Disposals in year
(1.4)
(0.1)
Transfers from investments in joint ventures and associates
\u2013
4.6
Fair value adjustment through other comprehensive income
0.1
(0.8)
At 31 March
7.6
8.8
A3. Related undertakings A3.1.1 Subsidiary undertakings Details of the Group\u2019s subsidiary undertakings at 31 March are as follows:
Registered 2026
address Holding
Company (Key) %
United Kingdom
Aberarder Wind Farm (Scotland) Limited
A
100.0
Aberarder Wind Farm LLP
B
100.0
Abernedd Power Company Limited
B
100.0
Aegletes III Holdco Limited
B
100.0
Aldbrough Pathfinder Limited
B
100.0
Berwick Bank A Limited
B
100.0
Berwick Bank B Limited
B
100.0
Berwick Bank C Limited
B
100.0
Berwick Bank Holdings A Limited
B
100.0
Berwick Bank Holdings B Limited
B
100.0
Berwick Bank Holdings C Limited
B
100.0
Berwick Bank Wind Farm Limited
A
100.0
Bhlaraidh Extension Wind Farm Limited
A
100.0
Bhlaraidh Wind Farm Limited
A
100.0
Building Automation Solutions Limited
D
100.0
By-Pass Farm Solar Limited
B
100.0
Coire Glas Hydro Pumped Storage Limited
A
100.0
Enerveo Limited
T
100.0
Ferrybridge Hydrogen Limited
B
100.0
Fibre Fuel Limited
B
100.0
Fibre Power (Slough) Limited
B
100.0
Griffin Wind Farm Limited
A
100.0
Hydro Electric Pension Scheme Trustees
A
100.0
Limited
Keadby Developments Limited
E
100.0
Keadby Generation Limited
E
100.0
Keadby Next Generation Limited
B
100.0
Keadby Wind Farm Limited
B
100.0
LG-B-300 Limited
A
100.0
Littleton Pastures Solar Limited
B
100.0
Medway Power Limited
B
100.0
Optimal Power Networks Limited
B
100.0
Power from Waste Limited
B
100.0
Scottish and Southern Energy Power
A
100.0
Distribution Limited
Scottish Hydro Electric Power Distribution plc
A
100.0
Scottish Hydro Electric Transmission plc
A
75.0
Slough Domestic Electricity Limited
B
100.0
Slough Electricity Contracts Limited
B
100.0
Slough Energy Supplies Limited
B
100.0
Slough Heat & Power Limited
B
100.0
Slough Utility Services Limited
B
100.0
Southern Electric Power Distribution plc
B
100.0
SSE Airtricity Energy Services (NI) Limited
Q
100.0
SSE Airtricity Energy Supply (NI) Limited
F
100.0
SSE Airtricity Gas Supply (NI) Limited
F
100.0
SSE Battery Monk Fryston Limited
B
100.0
SSE Battery Salisbury Limited
B
100.0
SSE Beatrice Offshore Windfarm Holdings
A
100.0
Limited
SSE BTM HoldCo Limited
B
100.0
SSE BTM Operational Assets Limited
B
100.0
SSE Contracting Group Limited
B
100.0
SSE Cottered Solar Limited
B
100.0
SSE Daines BESS Limited
B
100.0
SSE DE Solar Holdco Limited
B
100.0
SSE Derrymeen BESS Limited
F
100.0
SSE Digital Services Limited
B
100.0
Registered 2026
address Holding
Company (Key) %
SSE Eggborough Limited
B
100.0
SSE Energy Markets Limited
B
100.0
SSE Energy Supply Limited
B
100.0
SSE Enterprise Limited
B
100.0
SSE Ewerby Solar Holdco Limited
B
100.0
SSE Ewerby Solar Limited
B
100.0
SSE Fancott BESS Limited
B
100.0
SSE Ferrybridge Battery Limited
B
100.0
SSE Fiddlers Ferry Battery Limited
B
100.0
SSE Foxholes Solar Limited
B
100.0
SSE Generation Limited
B
100.0
SSE Group Limited
A
100.0
SSE Heat Networks (Battersea) Limited
B
100.0
SSE Heat Networks Limited
A
100.0
SSE Hornsea Limited
B
100.0
SSE HV Electricity Assets Limited
B
100.0
SSE Hydrogen Holdings Limited
B
100.0
SSE Hydrogen Developments Limited
B
100.0
SSE IAMP Microgrid Limited
B
100.0
SSE Imperial Park PN Limited
B
100.0
SSE Knapthorpe Solar Limited
B
100.0
SSE Low Carbon Developments Limited
B
100.0
SSE Low Carbon Holdings Limited
B
100.0
SSE Maple Limited
B
100.0
SSE Medway Operations Limited
B
100.0
SSE Micro Renewables Limited
A
100.0
SSE Multifuel Generation Holdings Limited
B
100.0
SSE Muskham Solar Limited
B
100.0
SSE Newchurch Solar Limited
B
100.0
SSE OWS Glasgow Limited
A
100.0
SSE Private Networks Holdco Limited
B
100.0
SSE Production Services Limited
B
100.0
SSE Renewables Holdings (UK) Limited
F
100.0
SSE Renewables International Holdings Limited
A
100.0
SSE Renewables Limited
A
100.0
SSE Renewables Offshore Windfarm Holdings
A
100.0
Limited
SSE Renewables Onshore Windfarm Holdings
F
100.0
Limited
SSE Renewables Poland Holdings Limited
A
100.0
SSE Renewables Services (UK) Limited
F
100.0
SSE Renewables Solar & Battery Holdings
B
100.0
Limited
SSE Renewables UK Limited
F
100.0
SSE Renewables Wind Farms (UK) Limited
A
100.0
SSE Retail Limited
A
100.0
SSE Seabank Investments Limited
B
100.0
SSE Seabank Land Investments Limited
B
100.0
SSE Services plc
B
100.0
SSE Southern Group Trustee Limited
B
100.0
SSE Staythorpe Battery Limited
B
100.0
SSE Staythorpe Power Limited
B
100.0
SSE Staythorpe SGT Limited
B
100.0
SSE Staythorpe Solar Limited
B
100.0
SSE Southery Solar Limited
B
100.0
SSE Stock Limited
A
100.0
SSE Thermal Energy Holdings Limited
B
100.0
SSE Thermal Energy Operations Limited
B
100.0
SSE Thermal Generation (Scotland) Limited
A
100.0
Registered 2026
address Holding
Company (Key) %
U
nite
d
Kingdo
m
continued
SSE Thermal Generation Holdings Limited
B
100.0
SSE Toddleburn Limited
A
100.0
SSE Trading Limited
B
100.0
SSE Trustees Limited
B
100.0
SSE Utility Services Limited
B
100.0
SSE Utility Solutions Limited
B
100.0
SSE Venture Capital Limited
A
100.0
SSE Viking Limited
B
100.0
SSE(SE) Quest Trustee Limited
B
100.0
SSEN Distribution Limited
A
100.0
SSEPG (Operations) Limited
B
100.0
Strathy Wind Farm Limited
A
100.0
Tealing Solar Park Limited
B
100.0
TESGL Limited
D
100.0
The Energy Solutions Group Bidco Limited
D
100.0
The Energy Solutions Group Midco Limited
D
100.0
The Energy Solutions Group Topco Limited
D
100.0
Viking Energy (Scottish Partnership)
A
100.0
Viking Energy Wind Farm LLP
A
100.0
Ireland
Airtricity Windfarm Finance Limited
C
100.0
Arklow Offshore Phase II Company Limited
C
100.0
Bindoo Windfarm (ROI) Limited
C
100.0
Brickmount Limited
C
100.0
Comhlacht Gaoithe Teoranta
C
100.0
Coomacheo Wind Farm Limited
C
100.0
Coomatallin Windfarm (ROI) Limited
C
100.0*
Curragh Mountain Windfarm Limited
C
100.0
Dedondo Limited
C
100.0
Dromada Windfarm (ROI) Limited
C
100.0
Enerveo Ireland Limited
Z
100.0
Galway Wind Park Phase 3 Designated Activity
C
100.0
Company
Ganderoy Limited
C
100.0
Gartnaneane Limited
C
100.0*
Glenora Wind Farm Designated Activity Company
C
100.0
Green Wind Energy (Wexford) Limited
C
100.0
Leanamore Wind Farm Limited
C
100.0
Lenalea Wind Farm Designated Activity Company
C
100.0
Limerick West Windfarm Limited
C
100.0
March Winds Limited
C
100.0
Meentycat Limited
C
100.0
Milane Holdings Limited
C
100.0
Mullananalt Wind Farm (ROI) Limited
C
100.0
Platin Power Limited
C
100.0
Richfield Windfarm (ROI) Limited
C
100.0
Sheskin South Renewables Power Designated
C
100.0
Activity Company
SSE Airtricity Distributed Energy Limited
C
100.0
SSE Airtricity Energy Services Limited
C
100.0
SSE Airtricity Limited
C
100.0
SSE Cumars\u00e1id Teoranta
C
100.0
SSE Generation Ireland Limited
C
100.0
SSE Renewables (Ireland) Limited
C
100.0
SSE Renewables Generation Ireland Limited
C
100.0
SSE Renewables Holdings (Europe) Limited
C
100.0
SSE Renewables Holdings Limited
C
100.0
SSE Renewables Off Shore Limited
C
100.0
SSE Renewables Wind (Ireland) Holdings Limited
C
100.0
Registered 2026
address Holding
Company (Key) %
SSE Renewables Wind Farms (Ireland) Limited
C
100.0
Sure Partners Limited
C
100.0
SSE Renewables Tinnycross Battery Storage
C
100.0
Limited
Tournafulla Windfarm (ROI) Limited
C
100.0
Zeusford Limited
C
100.0
France
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) d\u2019orchamps
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) de la Cuesta
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) de Vireaux
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) des Jacquessons
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Chaintrix Bierges SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Champeaux SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Germainville SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Belle
AE
100.0
Dame SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Brie
AE
100.0
des Etangs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la
AE
100.0
Monchot SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la T\u00eate
AE
100.0
des Boucs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
la Voie Pou\u00e7oise
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Moulins du Puits SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Pringy
AE
100.0
SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Saint
AE
100.0
Loup de Saintonge SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
Salon Sud
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Souvans SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Vernierfontaine SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Villiers
AE
100.0
aux Ch\u00eanes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des
AE
100.0
Fontaines SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Six
AE
100.0
Communes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Voies
AE
100.0
de Bar SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Mont
AE
100.0
\u00c9gar\u00e9 SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Vireaux
AE
100.0
SAS
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) d\u2019Orchamps SAS
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) de la Cuesta SARL
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) du Tonnerrois
AE
100.0
SSE Renewables France SARL
AE
100.0
Germany
SSE Renewables Developments (Germany)
U
100.0
GmbH
Greece
Enerfarm 3 Single Member S.A. Renewable
AB
100.0
Energy Sources
Energiaki Kleidi Single Member S.A.
AB
100.0
Energiaki Mavrovouniou Single Member Private
AB
100.0
Company
Energiaki Mesovouniou Single Member S.A.
AB
100.0
Energiaki Platorrachis Single Member S.A.
AB
100.0
Energiaki Velanidias Single Member S.A.
AB
100.0
SSE Renewables Hellas Single Member S.A.
AB
100.0
Isle of Man
SSE Insurance Limited
G
100.0
Italy
SPV Parco Eolico Libeccio S.r.l.
AC
100.0
SPV Parco Eolico Maestrale S.r.l.
AC
100.0
SPV Parco Eolico Tramontana S.r.l.
AC
100.0
SSE Renewables Italy S.r.l.
AC
100.0
Japan
Aichi Offshore Wind Power No. 1 G.K.
Y
80.0
Aichi Offshore Wind Power No. 2 G.K.
Y
80.0
Enshunada Offshore Wind Power No. 1 G.K.
Y
80.0
GIF Phase 2 G.K. (formerly Niigata Offshore
Y
80.0
Wind Power No.1 G.K.)
Goto-Fukue Offshore Wind Power G.K.
Y
80.0
Izu Islands Offshore Wind Power No. 1 G.K.
Y
80.0
Minami-Izu Offshore Wind Power No. 1 G.K.
Y
80.0
Oki Islands Offshore Wind Power G.K.
Y
80.0
SSE Pacifico K.K.
Y
80.0
SSE Yuza Offshore Wind Power G.K.
Y
80.0
Tokushima Offshore Wind Power G.K.
Y
80.0
Wakayama-West Offshore Wind Power No. 1
Y
80.0
G.K.
Wakayama-West Offshore Wind Power No. 2
Y
80.0
G.K.
Netherlands
SSE Renewables (Netherlands) Holdings B.V.
AA
100.0
SSE Renewables Developments (The
Netherlands) B.V.
AA
100.0
SSE Sunflower Offshore Wind Holdco B.V.
AA
100.0
SSE Sunflower Offshore Wind Limited Partner 1
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 2
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 3
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner
AA
100.0
4B.V.
SSE Tulip Offshore Wind Holdco B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 1 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 2 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 3 B.V.
AA
100.0
Poland
IBC SE PL3 sp. z o.o.
AJ
100.0
IBC SE PL20 sp. z o.o.
AJ
100.0
IBC SE PL22 sp. z o.o.
AJ
100.0
IBC SE PL23 sp. z o.o.
AJ
100.0
IBC SE PL24 sp. z o.o.
AJ
100.0
IBC SE PL34 sp. z o.o.
AJ
100.0
Pomerania PV sp z.o.o.
AJ
100.0
SSE Renewables Poland sp z.o.o. w likwidacji
(formerly SSE Renewables Poland sp z.o.o.)
X
100.0
Spain
ICE Torrecilla Renovables S.L.
W
80.3
Sistemas Energ\u00e9ticos \u00c1brego S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ariel S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Boreas S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos C\u00e9firo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos del Sur S.A.U.
AD
100.0
Sistemas Energ\u00e9ticos Eolo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 1 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 2 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Gregal S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos J\u00fapiter S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Marte S.L. U.
AD
100.0
Sistemas Energ\u00e9ticos Mercurio S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Neptuno S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ober\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Plut\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tablero Tabordo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Terral S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tit\u00e1n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Urano S.L.U.
AD
100.0
SSE Renewables Southern Europe S.L.
AD
100.0
SSE Renewables Spain S.L.
AD
100.0
All shares in subsidiary companies are ordinary share capital, unless otherwise stated. * 100% of voting rights held. Statutory audit exemptions SSE plc parent company has provided guarantees under section 479C of the Companies Act 2006 over the liabilities of the following companies, which are therefore exempt from audit under the requirements of s479A-479C of the Companies Act 2006.
Registered
Company number
Aberarder Wind Farm (Scotland) Limited
SC746968
Aberarder Wind Farm LLP
OC398487
Abernedd Power Company Limited
06383166
Aegletes III Holdco Limited
13665453
Aldbrough Pathfinder Limited
15238323
Berwick Bank Holdings A Limited
07294660
Berwick Bank Holdings B Limited
13881643
Berwick Bank Holdings C Limited
07294689
Berwick Bank Wind Farm Limited
SC721781
Bhlaraidh Extension Wind Farm Limited
SC798136
Bhlaraidh Wind Farm Limited
SC663027
Building Automation Solutions Limited
05827765
By-Pass Farm Solar Limited
12558977
Ferrybridge Hydrogen Limited
15238441
Fibre Fuel Limited
02902165
Fibre Power (Slough) Limited
02902170
Griffin Wind Farm Limited
SC245113
Hydro Electric Pension Scheme Trustees Limited
SC567945
Keadby Developments Limited
02691516
Keadby Next Generation Limited
15866301
Keadby Wind Farm Limited
06852112
LG-B-300 Limited
SC765613
Power From Waste Limited
02902302
Slough Domestic Electricity Limited
03486588
Slough Energy Supplies Limited
02474514
Slough Heat & Power Limited
00174142
Slough Utility Services Limited
03486590
SSE Airtricity Energy Services (NI) Limited
NI056373
SSE Beatrice Offshore Windfarm Holdings Limited
SC436255
SSE BTM HoldCo Limited
14413957
SSE BTM Operational Assets Limited
14885059
SSE Contracting Group Limited
02471438
SSE Cottered Solar Limited
15346645
SSE Daines BESS Limited
15344013
SSE DE Solar HoldCo Limited
14189570
SSE Derrymeen BESS Limited
NI697259
SSE Digital Services Limited
14621186
SSE Eggborough Limited
14939853
SSE Enterprise Limited
10060563
SSE Ewerby Solar Holdco Limited
14939987
SSE Ewerby Solar Limited
14959032
SSE Fancott Bess Limited
15344001
SSE Ferrybridge Battery Limited
14411214
SSE Fiddlers Ferry Battery Limited
14418916
SSE Foxholes Solar Limited
14044466
SSE Group Limited
SC126049
SSE Heat Networks (Battersea) Limited
10176638
Registered
Company number
SSE HV Electricity Assets Limited
14418288
SSE Hydrogen Developments Limited
15238086
SSE Hydrogen Holdings Limited
15231331
SSE IAMP Microgrid Limited
15333093
SSE Imperial Park PN Limited
02631510
SSE Knapthorpe Solar Limited
14044446
SSE Low Carbon Developments Limited
15069108
SSE Low Carbon Holdings Limited
15052653
SSE Maple Limited
10604848
SSE Medway Operations Limited
02647585
SSE Micro Renewables Limited
SC386017
SSE Multifuel Generation Holdings Limited
12661566
SSE Muskham Solar Limited
14044402
SSE Newchurch Solar Limited
15348120
SSE OWS Glasgow Limited
SC228283
SSE Private Networks Holdco Limited
14921243
SSE Production Services Limited
02499702
SSE Renewables Holdings (UK) Limited
NI043239
SSE Renewables Offshore Windfarm Holdings Limited
SC436251
SSE Renewables Onshore Windfarm Holdings Limited
NI049557
SSE Renewables Poland Holdings Limited
SC723844
SSE Renewables Solar & Battery Holdings Limited
13561962
SSE Renewables UK Limited
NI048447
SSE Renewables Wind Farms (UK) Limited
SC654502
SSE Retail Limited
SC213458
SSE Seabank Investments Limited
02631512
SSE Seabank Land Investments Limited
07877772
SSE Southern Group Trustee Limited
04009847
SSE Southery Solar Limited
14953142
SSE Staythorpe Battery Limited
14046860
SSE Staythorpe Power Limited
14043534
SSE Staythorpe SGT Limited
14046946
SSE Staythorpe Solar Limited
14046913
SSE Thermal Energy Holdings Limited
12650549
SSE Thermal Generation Holdings Limited
12662248
SSE Toddleburn Limited
SC259104
SSE Trustees Limited
03048985
SSE Viking Limited
06021053
SSE(SE) Quest Trustee Limited
03487059
SSEPG (Operations) Limited
02764438
Strathy Wind Farm Limited
SC663103
Tealing Solar Park Limited
08783684
The Energy Solutions Group Bidco Limited
07187066
The Energy Solutions Group Midco Limited
07403400
The Energy Solutions Group Topco Limited
07419528
A3.1.2 Joint arrangements (incorporated)
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
AtlasConnect Limited
A
50.0
H2Northeast Limited
H
50.0
Baglan Pipeline Limited
K
50.0
Indian Queens Power Limited
AF
50.0
Beatrice Offshore Windfarm Holdco Limited
A
40.0
Marchwood Power Limited
N
50.0
Beatrice Offshore Windfarm Limited
A
40.0
Neos Networks Limited
A
50.0
Clyde Windfarm (Scotland) Limited **
A
50.1
NNXYZ Limited
B
50.0
DB Operational Base Limited
J
40.0
North Falls Offshore Wind Farm Holdco Limited
AG
50.0
Deeside Power (UK) Limited
AF
50.0
North Falls Offshore Wind Farm Limited
AG
50.0
Deeside Power Operations Limited
AF
50.0
Ossian Offshore Wind Farm Holdings Limited
A
40.0
Digital Reach Partners Limited (formerly D Reach
B
50.0
Ossian Offshore Wind Farm Limited
A
40.0
Partners Limited)
Doggerbank Offshore Wind Farm Project 1
B
40.0
Pride (SERP) Limited
AI
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 1
B
40.0
Reach Fibre Company Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Holdings Group Limited
B
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Infrastructure Group Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Cogeneration Company Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Operations Company Limited
AF
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
SCCL Holdings Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
Seabank Power Limited
O
50.0
Leaseco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A (Holdco) Limited
B
49.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A Limited
B
49.0
Projco Limited
DRPXYZ Limited (formerly Digital Reach Partners
A
50.0
Seagreen Alpha Wind Energy Limited
B
49.0
Limited)
Dunmaglass Wind Farm Limited
A
50.1
Seagreen Bravo Wind Energy Limited
B
49.0
Eastern Green Link 2 Limited ***
B
50.0
Seagreen Holdco 1 Limited
B
49.0
Eastern Green Link 3 Limited ***
B
50.0
Seagreen Wind Energy Limited
B
49.0
Fearna PSH Limited
B
50.0
Source EV Limited
B
50.0
Greater Gabbard Offshore Winds Limited ***
B
50.0
Source EV UK Limited
B
50.0
Green H2 Developments Hold Co Limited
B
50.0
SSE Slough Multifuel Holdco Limited
B
50.0
Green H2 Developments Project Co Limited
B
50.0
SSE Slough Multifuel Limited
B
50.0
H2NE Parentco Limited
H
50.0
Stronelairg Wind Farm Limited
A
50.1
Ireland
Allbrite Heatpump Specialists Limited
R
25.0
Green Energy Company Limited **
M
50.0
Bellair Wind Farm Designated Activity Company
I
50.0
Green Way Energy Limited
M
50.0
Cloosh Valley Wind Farm Designated Activity
L
25.0
Kerry Power Limited
M
49.0
Company
Cloosh Valley Wind Farm Holdings Designated
L
25.0
Kilberry Wind Farm Designated Activity Company I
50.0
Activity Company
Coolnagun Wind Farm Designated Activity
I
50.0
Lemanaghan Wind Farm Designated Activity
I
50.0
Company Company
Cornafulla Wind Farm Designated Activity
I
50.0
Littleton Wind Farm Designated Activity
I
50.0
Company Company
Derryfadda Wind Farm Designated Activity
I
50.0
Marron Activ8 Energies Limited
R
50.0
Company
Drumnahough Wind Farm Designated Activity
C
50.0
Midas Energy Limited
M
49.0
Company
Everwind Limited
S
49.0
Source EV Ireland Limited
C
50.0
Garryhinch Wind Farm Designated Activity
I
50.0
Company
Jersey
Triton Power Holdings Limited
AH
50.0
Triton Power Limited
AH
50.0
Triton Power Intermediate Holdings Limited
AH
50.0
Netherlands
Lely Alpha Offshore Wind General Partner B.V.
AA
50.0
Lely Alpha Offshore Wind Projco C.V.
AA
50.0
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
Spain
ICE Santa Engracia, S.L.
V
44.6
** Holding represents % of voting rights *** Joint Operation A3.1.3 Associates
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
Corran Environmental LP
AK
74.0
St Clements Services Limited
P
25.0
A3.1.4 Registered address key
Reference
Company registered address
A
Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ
B
No 1 Forbury Place, 43 Forbury Road, Reading RG1 3JH
C Red Oak South, South County Business Park, Leopardstown, Dublin 18
D Ocean Court, Caspian Road, Atlantic Street, Altrincham, WA14 5HH
E
Keadby Power Station, Trentside, Keadby, Scunthorpe, North Lincs DN17 3AZ
F
3rd Floor, Millennium House, 25 Great Victoria Street, Belfast, BT2 7AQ
G
Tower House, Loch Promenade, Douglas, Isle of Man
H
Suite 1, 7th Floor, 50 Broadway, London, United Kingdom, SW1H 0BL
I Main St, Newbridge, Kildare, Ireland
J
One Kingdom Street, London, United Kingdom, W2 6BD
K
10 Fleet Place, London, EC4M 7QS
L 6th Floor, South Bank House, Barrow Street, Dublin 4
M Lissarda Industrial Park, Lissarda, Macroom, County Cork
N
Oceanic Way, Marchwood Industrial Park, Marchwood, Southampton SO40 4BD
O
Severn Road, Hallen, Bristol, BS10 7SP
P
4 \u2013 6 Church Walk, Daventry, NN11 4BL
Q
Unit 14 Maryland Industrial Estate, Ballygowan Road, Belfast
R
Nexus N2 Business Park, Carrickmacross, Monaghan, A81 XK73, Ireland
S
Gorthleahy, Macroom, Co Cork, Ireland
T
Second Floor Eagle Court 2, Hatchford Way, Birmingham B26 3RZ
U
c/o Bird & Bird LLP, Maximiliansplatz 22, Munich 80333
V Calle de la Portalada, 50, 26.006, Logro\u00f1o (La Rioja), Spain
W
Avda Gomez Laguna, 25, 50009 \u2013 Zaragoza, Spain
X Towarowa no.28, suite 00-839, Warsaw, Poland
Y
Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo, Japan
Z
Unit 42 Block 528, Grants View, Greenogue Business Park, Rathcoole, Dublin, Ireland
AA
Hofplein 20, Rotterdam, 3032 AC, Netherlands
AB
16 Kifissias Ave, 11526, Athens, Greece
AC
Viale Luca Gaurico, 91/93, 00143, Rome, Italy
AD
Alameda Mazarredo 7, entreplanta, 48001, Bilbao, Spain
AE
97 all\u00e9e Alexandre Borodine, Immeuble C\u00e8dre 3,
69800,
Saint Priest, France
AF
Saltend Power Station Saltend Chemicals Park, Hedon Road, Hull, East Riding of Yorkshire, England, HU12 8GA
AG
Windmill Hill Business Park, Whitehill Way, Swindon, Wiltshire, United Kingdom, SN5 6PB
AH
22 Grenville Street, St Helier, Jersey, JE4 SPX
AI
Level 12, The Shard, 32 London Bridge Street, London, SE1 9SG
AJ
Plac Marsza\u0142ka J\u00f3zefa Pi\u0142sudskiego 2 00-073 Warsaw
AK
4th Floor, 7 Castle Street, Edinburgh, EH2 3AH
A4. Joint ventures and associates The Directors have assessed that the investments in the following equity accounted joint ventures and associates are of a sufficiently material impact to warrant additional disclosure on an individual basis. Details of the financial position and financial results of the Group:
Class of Proportion of
Company shares held
shares held %
Group Interest %
Year end date
Consolidation basis
United Kingdom
Seabank Power Limited
Ordinary
50.0
50.0
31 December
Equity
Marchwood Power Limited
Ordinary
50.0
50.0
31 December
Equity
SSE Slough Multifuel Holdco Limited
Ordinary
50.0
50.0
31 March
Equity
Clyde Windfarm (Scotland) Limited
Ordinary
50.1
50.1
31 March
Equity
Seagreen Holdco 1 Limited
Ordinary
49.0
49.0
31 March
Equity
Beatrice Offshore Windfarm Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Dunmaglass Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Stronelairg Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Doggerbank Offshore Wind Farm Project 1 Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Jersey
Triton Power Holdings Limited
Ordinary
50.0
50.0
31 December
Equity
Summary information for material joint ventures and associates from unaudited financial statements is as follows:
Doggerbank
Beatrice Offshore
SSE Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i)
Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
279.8
69.1
64.9
206.9
322.5
149.4
43.5
105.3
370.5
109.9
230.0
1,951.8
Other income
\u2013
\u2013
\u2013
\u2013
3 . 9
2 6 6 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 7 0 . 8
Depreciation and
amortisation
(11.7)
(7.8)
(14.9)
(29.3)
(98.4)
(88.5)
(8.0)
(13.7)
(33.6)
(9.6)
(140.9)
(456.4)
Other operating costs
(232.5)
(21.3)
(23.4)
(44.4)
(101.0)
(133.1)
(9.6)
(19.1)
(365.3)
(11.4)
(130.1)
(1,091.2)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(48.6)
\u2013
\u2013
\u2013
4.2
\u2013
0.5
(43.9)
Operating profit
35.6
40.0
26.6
133.2
78.4
194.7
25.9
72.5
(24.2)
88.9
(40.5)
631.1
Interest expense
0.3
(0.7)
(23.6)
(21.1)
(153.9)
(56.9)
(6.5)
(12.9)
2.2
(58.5)
(33.9)
(365.5)
Profit before tax
35.9
39.3
3.0
112.1
(75.5)
137.8
19.4
59.6
(22.0)
30.4
(74.4)
265.6
Corporation tax
(8.3)
(9.7)
\u2013
(29.3)
4.1
(34.7)
(4.4)
(14.8)
0.5
(3.5)
0.5
(99.6)
Profit after tax
27.6
29.6
3.0
82.8
(71.4)
103.1
15.0
44.8
(21.5)
26.9
(73.9)
166.0
Recognised in other
comprehensive
income
Cash flow hedges
\u2013
\u2013
\u2013
\u2013
(13.2)
(26.2)
\u2013
\u2013
\u2013
(24.7)
(47.4)
(111.5)
Taxation
\u2013
\u2013
\u2013
\u2013
3.3
6.6
\u2013
\u2013
\u2013
6.2
11.8
27.9
Other
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 . 8 )
( 1 5 . 8 )
Total comprehensive
\u2013
\u2013
\u2013
\u2013
(9.9)
(19.6)
\u2013
\u2013
\u2013
(18.5)
(51.4)
(99.4)
income/(loss)
27.6
29.6
3.0
82.8
(81.3)
83.5
15.0
44.8
(21.5)
8.4
(125.3)
66.6
SSE share of profit
(based on % equity)
13.8
14.8
1.5
41.5
(35.0)
41.2
7.5
22.4
(10.8)
10.8
(19.7)
88.0
Dividends paid to
shareholders
21.0
37.0
\u2013
116.1
26.6
53.7
25.5
68.5
25.0
\u2013
8.4
381.8
Non-current assets
114.5
107.4
455.3
472.4
2,946.6
1,531.7
156.9
289.4
202.2
3,153.4
6,607.6
16,037.4
Current assets
94.9
13.7
15.0
100.3
87.8
595.3
21.9
48.6
130.1
883.9
62.2
2,053.7
Cash and cash
equivalents
48.8
19.6
17.6
30.6
125.3
96.1
10.9
19.8
15.4
73.1
1 3 8 . 2
5 9 5 . 4
Current liabilities
(87.7)
(20.9)
(7.4)
(46.5)
(247.2)
(568.0)
(9.1)
(27.1)
(109.7)
(51.7)
(393.2)
(1,568.5)
Non-current liabilities
(42.8)
(32.8)
(351.1)
(427.4)
(2,230.9)
(1,527.5)
(143.4)
(260.7)
(12.5)
(3,415.0)
(5,528.6)
(13,972.7)
Net assets
127.7
87.0
129.4
129.4
681.6
127.6
37.2
70.0
225.5
643.7
886.2
3,145.3
Group equity interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership interest
63.9
43.5
64.7
64.8
334.0
51.0
18.6
35.1
112.8
257.5
411.2
1,457.1
Other adjustments
(21.0)
0.3
31.1
39.3
84.5
(1.1)
62.2
191.9
28.2
1.7
70.9
488.0
Carrying value of
Group\u2019s equity
interest
42.9
43.8
95.8
104.1
418.5
49.9
80.8
227.0
141.0
259.2
482.1
1,945.1
(restated
(ii)
)
Doggerbank
SSE Beatrice Offshore
Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i) (ii)
Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
288.1
96.3
60.0
194.6
354.0
171.1
37.7
106.6
402.6
14.8
212.1
1,937.9
Other income
\u2013
\u2013
\u2013
\u2013
23.2
245.7
\u2013
\u2013
\u2013
\u2013
0.1
269.0
Depreciation and
amortisation
(7.0)
(35.0)
(8.4)
(29.2)
(98.6)
(88.0)
(8.0)
(13.7)
(34.5)
(2.2)
(134.7)
(459.3)
Other operating
costs
(241.9)
(19.5)
(21.0)
(41.4)
(89.6)
(94.8)
(8.1)
(20.4)
(420.3)
(6.8)
(134.1)
(1,097.9)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(53.8)
\u2013
\u2013
\u2013
(3.4)
\u2013
\u2013
(57.2)
Operating profit
39.2
41.8
30.6
124.0
135.2
234.0
21.6
72.5
(55.6)
5.8
(56.6)
592.5
Interest expense
1.4
(1.6)
(15.2)
(18.5)
(209.3)
(59.3)
(6.2)
(11.9)
5.1
(1.5)
(31.0)
(348.0)
Profit before tax
40.6
40.2
15.4
105.5
(74.1)
174.7
15.4
60.6
(50.5)
4.3
(87.6)
244.5
Corporation tax
(11.1)
(9.2)
3.8
(26.9)
63.5
(22.7)
(3.4)
(14.8)
14.9
(1.1)
(0.7)
(7.7)
Profit after tax
29.5
31.0
19.2
78.6
(10.6)
152.0
12.0
45.8
(35.6)
3.2
(88.3)
236.8
Recognised in
other
comprehensive
income
Cash flow hedges
\u2013
\u2013
0.6
\u2013
(3.3)
(12.8)
\u2013
\u2013
\u2013
(49.8)
9.7
(55.6)
Taxation
\u2013
\u2013
\u2013
\u2013
0.8
3.3
\u2013
\u2013
\u2013
12.5
(2.6)
14.0
O t h e r
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
1 5 . 8
1 5 . 8
\u2013
\u2013
0.6
\u2013
(2.5)
(9.5)
\u2013
\u2013
\u2013
(37.3)
22.9
(25.8)
Total
comprehensive
income/(loss)
29.5
31.0
19.8
78.6
(13.1)
142.5
12.0
45.8
(35.6)
(34.1)
(65.4)
211.0
SSE share of profit
(based on %
equity)
14.8
15.5
9.6
39.4
(5.2)
60.8
6.0
22.9
(17.8)
1.3
(57.4)
89.9
Dividends paid to
shareholders
47.0
44.2
\u2013
102.0
38.9
119.3
12.4
55.0
\u2013
\u2013
11.1
429.9
Non-current assets
82.8
114.1
471.4
510.1
3,027.6
1,750.4
165.2
304.7
184.1
3,670.4
6,460.3
16,741.1
Current assets
56.7
8.5
14.9
86.8
47.2
62.7
16.7
49.8
164.1
21.6
94.7
623.7
Cash and cash
equivalents
51.8
20.7
21.9
45.1
95.3
104.0
18.4
27.7
5.1
60.6
278.8
729.4
Current liabilities
(44.9)
(18.2)
(11.1)
(42.8)
(13.0)
(199.7)
(7.3)
(25.5)
(68.7)
(86.7)
(348.7)
(866.6)
Non-current
liabilities
(26.3)
(29.5)
(370.6)
(431.7)
(2,424.9)
(1,619.6)
(144.8)
(262.5)
(12.3)
(3,042.7)
(5,649.7)
(14,014.6)
Net assets
120.1
95.6
126.5
167.5
732.2
97.8
48.2
94.2
272.3
623.2
835.4
3,213.0
Group equity
interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership
interest
60.1
47.8
63.3
83.9
358.8
39.1
24.1
47.2
136.2
249.3
384.5
1,494.3
Other adjustments
(20.4)
(0.3)
31.7
39.9
100.3
(1.1)
65.5
202.9
1.6
2.4
70.5
493.0
Carrying value of
Group\u2019s equity
interest
39.7
47.5
95.0
123.8
459.1
38.0
89.6
250.1
137.8
251.7
455.0
1,987.3
(i) In addition to the above the following joint ventures and associates have an equity carrying value that constitutes a material investment of the Group: Doggerbank Offshore Wind Farm Project 2 Holdco Limited \u00a3128.4m (2025: \u00a3118.8m): Doggerbank Offshore Wind Farm Project 3 and 4 Holdco Limited \u00a395.0m (2025: \u00a390.6m) and Ossian Offshore Wind Farm Holdings Limited \u00a363.6m (2025: \u00a360.8m). (ii) The comparatives have been restated to present Neos Networks Limited in Other, based on the significance of the investment to the Group. In addition to the above at 31 March 2026, the Group was owed the following loans from its principal joint ventures: SSE Slough Multifuel Holdco Limited \u00a3172.5m (2025: \u00a3181.3m); Clyde Windfarm (Scotland) Limited \u00a3127.1m (2025: 127.1m); Seagreen Holdco 1 Limited \u00a3648.0m (2025: \u00a3646.0m); Dunmaglass Wind Farm Limited \u00a346.6m (2025: \u00a346.6m); Stronelairg Wind Farm Limited \u00a388.7m (2025: \u00a388.7m); and Doggerbank Offshore Wind Farm Project 1 Holdco Limited \u00a3313.4m (2025: 188.3m). This represents 86% (2025: 85%) of the loans provided to equity-accounted joint ventures and associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-752": { "value": "16. Investments 16.1 Joint Ventures and associates
2026
2025
Equity Loans Total Equity Loans Total
Share of net assets/cost \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
1,987.3
1,510.3
3,497.6
1,963.2
1,352.9
3,316.1
Additions
60.8
243.6
304.4
153.4
280.0
433.4
Repayment of shareholder loans
\u2013
(94.5)
(94.5)
\u2013
(121.7)
(121.7)
Dividends received
(184.1)
\u2013
(184.1)
(200.6)
\u2013
(200.6)
Share of profit after tax
(i)
88.0
\u2013
88.0
91.6
\u2013
91.6
Share of other comprehensive income
(50.8)
\u2013
(50.8)
(0.9)
\u2013
(0.9)
Disposals
(4.6)
\u2013
(4.6)
\u2013
\u2013
\u2013
Transfer \u2013 loans to equity
25.5
(25.5)
\u2013
\u2013
\u2013
\u2013
Transfers \u2013 other investments
\u2013
\u2013
\u2013
(4.6)
\u2013
(4.6)
Impairments
(ii)
21.3
(15.6)
5.7
\u2013
\u2013
\u2013
Investment decrease in respect of financial
guarantees
(iii)
(2.3)
\u2013
(2.3)
(12.1)
\u2013
(12.1)
Exchange rate adjustments
4.0
2.9
6.9
(2.7)
(0.9)
(3.6)
At 31 March
1,945.1
1,621.2
3,566.3
1,987.3
1,510.3
3,497.6
(i) The Group recognised losses of \u00a31.3m from its joint venture investment Neos Networks Limited in the year ended 31 March 2026. While the Group\u2019s total share of losses totalled \u00a330.9m for the 12 months ended 31 March 2026, only \u00a31.3m was recognised as this reduced the equity investment to \u00a3nil. For 31 March 2025 of the \u00a391.6m share of profit, only \u00a389.9m was recognised through the income statement, as \u00a31.7m related to profits earning from SSE Group companies where the cost were capitalised and the related profit eliminated on consolidation. (ii) The net impairment credit for the year ended 31 March 2026 of \u00a35.7m is comprised of an exceptional impairment reversal of \u00a329.4m relating to Triton Power Holdings Limited (see note 15.2), offset by an exceptional impairment charge of \u00a317.6m relating to the Group\u2019s joint venture investments in hydrogen development projects (see note 7.1) and non-exceptional expected credit loss impairment charges of \u00a36.1m. (iii) The investment decrease in respect of financial guarantees relates to \u00a33.1m (2025: \u00a312.5m) of unwind and expiry of guarantee contracts, less \u00a30.8m (2025: \u00a30.4m) for the fair value of fees receivable on guarantees granted to joint venture investments during the year. 16.2 Additions and disposals of equity in the current year Additions and disposals in the year During the year the Group provided equity and loans to its existing joint venture investments of \u00a360.8m and \u00a3243.6m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. During the year ended 31 March 2026 the Group completed the acquisition of a further 50% equity interest in Lenalea Wind Farm DAC (\u201cLenalea\u201d) from FuturEnergy Ireland Development Holdings DAC for cash consideration of \u20ac26.0m, therefore recognising Lenalea as a 100% subsidiary and disposing of its joint venture investment. 16.3 Additions and disposals of equity in the previous year Additions in the previous year On 10 September 2024 the Group sold a 50% equity share in SSE DE EV Hold Co Limited to form the 50:50 Source EV joint venture with TotalEnergies Marketing UK Limited for cash consideration of \u00a316.5m. Following the completion of the transaction, both shareholders provided the joint venture with \u00a35.1m of shareholder loans and \u00a310.0m of equity funding. During the year ended 31 March 2025 the Group provided equity and loans to its existing joint venture investments of \u00a3129.4m and \u00a3274.9m respectively, primarily in relation to Seagreen Holdco 1 Limited and Doggerbank Offshore Wind Farm Project 1 Holdco Limited. There were no significant disposals in the previous year. 16.4 Principal joint ventures and associates Under IFRS 12 \u201cDisclosure of Interests in Other Entities\u201d, the Group has evaluated the key joint ventures and associates it holds with the purpose of disclosing any which are materially significant in order to identify the impact on the Group\u2019s financial position, performance and cash flows, whilst identifying the nature of the risks associated with these interests. A full listing of the Group\u2019s incorporated joint ventures, joint operations, associates and investments are included in the Accompanying Information (A3 ). Share of results of joint ventures and associates
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
456.9
392.3
25.3
874.5
940.9
Other income
108.7
\u2013
\u2013
108.7
109.7
Depreciation and amortisation
(137.0)
(34.8)
(1.2)
(173.0)
(226.0)
Other operating costs
(149.3)
(321.4)
(28.5)
(499.2)
(540.3)
Operating profit
279.3
36.1
(4.4)
311.0
284.3
Interest expense
(143.5)
(10.9)
(1.3)
(155.7)
(164.3)
Changes in fair value of derivatives
(23.6)
2.1
0.1
(21.4)
(28.1)
Corporation tax
(38.3)
(8.8)
1.2
(45.9)
(2.0)
Share of post taxation results
73.9
18.5
(4.4)
88.0
89.9
Recognised in other comprehensive income
Cashflow hedges
(46.7)
\u2013
\u2013
(46.7)
(22.3)
Taxation
11.7
\u2013
\u2013
11.7
5.6
Other
\u2013
\u2013
(15.8)
(15.8)
15.8
Total comprehensive income
38.9
18.5
(20.2)
37.2
89.0
Share of joint ventures and associates\u2019 assets and liabilities
2026
2026
2026
2026
2025
Thermal
Wind farms Generation
Other
(i)
Total Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
6,413.5
456.6
313.9
7,184.0
7,263.9
Current assets
731.4
127.0
18.0
876.4
297.9
Cash and cash equivalents
210.2
51.3
12.6
274.1
329.2
Current liabilities
(521.1)
(113.3)
(73.3)
(707.7)
(389.2)
Non-current liabilities
(5,738.8)
(229.6)
(201.3)
(6,169.7)
(6,007.5)
1,095.2
292.0
69.9
1,457.1
1,494.3
Other adjustments
456.1
31.6
0.3
488.0
493.0
Share of net assets of joint ventures and associates
1,551.3
323.6
70.2
1,945.1
1,987.3
Shareholder loans
1,351.0
172.5
97.7
1,621.2
1,510.3
Interest in joint venture and associate
2,902.3
496.1
167.9
3,566.3
3,497.6
(i) Other comprises the investments the Group holds in Neos Networks Limited, Source EV Limited, Corran Environmental LP and Marron Activ8 Energies Limited. Information on Group\u2019s investments in joint ventures and associates is provided at A3, A4 and A5 . A3. Related undertakings A3.1.1 Subsidiary undertakings Details of the Group\u2019s subsidiary undertakings at 31 March are as follows:
Registered 2026
address Holding
Company (Key) %
United Kingdom
Aberarder Wind Farm (Scotland) Limited
A
100.0
Aberarder Wind Farm LLP
B
100.0
Abernedd Power Company Limited
B
100.0
Aegletes III Holdco Limited
B
100.0
Aldbrough Pathfinder Limited
B
100.0
Berwick Bank A Limited
B
100.0
Berwick Bank B Limited
B
100.0
Berwick Bank C Limited
B
100.0
Berwick Bank Holdings A Limited
B
100.0
Berwick Bank Holdings B Limited
B
100.0
Berwick Bank Holdings C Limited
B
100.0
Berwick Bank Wind Farm Limited
A
100.0
Bhlaraidh Extension Wind Farm Limited
A
100.0
Bhlaraidh Wind Farm Limited
A
100.0
Building Automation Solutions Limited
D
100.0
By-Pass Farm Solar Limited
B
100.0
Coire Glas Hydro Pumped Storage Limited
A
100.0
Enerveo Limited
T
100.0
Ferrybridge Hydrogen Limited
B
100.0
Fibre Fuel Limited
B
100.0
Fibre Power (Slough) Limited
B
100.0
Griffin Wind Farm Limited
A
100.0
Hydro Electric Pension Scheme Trustees
A
100.0
Limited
Keadby Developments Limited
E
100.0
Keadby Generation Limited
E
100.0
Keadby Next Generation Limited
B
100.0
Keadby Wind Farm Limited
B
100.0
LG-B-300 Limited
A
100.0
Littleton Pastures Solar Limited
B
100.0
Medway Power Limited
B
100.0
Optimal Power Networks Limited
B
100.0
Power from Waste Limited
B
100.0
Scottish and Southern Energy Power
A
100.0
Distribution Limited
Scottish Hydro Electric Power Distribution plc
A
100.0
Scottish Hydro Electric Transmission plc
A
75.0
Slough Domestic Electricity Limited
B
100.0
Slough Electricity Contracts Limited
B
100.0
Slough Energy Supplies Limited
B
100.0
Slough Heat & Power Limited
B
100.0
Slough Utility Services Limited
B
100.0
Southern Electric Power Distribution plc
B
100.0
SSE Airtricity Energy Services (NI) Limited
Q
100.0
SSE Airtricity Energy Supply (NI) Limited
F
100.0
SSE Airtricity Gas Supply (NI) Limited
F
100.0
SSE Battery Monk Fryston Limited
B
100.0
SSE Battery Salisbury Limited
B
100.0
SSE Beatrice Offshore Windfarm Holdings
A
100.0
Limited
SSE BTM HoldCo Limited
B
100.0
SSE BTM Operational Assets Limited
B
100.0
SSE Contracting Group Limited
B
100.0
SSE Cottered Solar Limited
B
100.0
SSE Daines BESS Limited
B
100.0
SSE DE Solar Holdco Limited
B
100.0
SSE Derrymeen BESS Limited
F
100.0
SSE Digital Services Limited
B
100.0
Registered 2026
address Holding
Company (Key) %
SSE Eggborough Limited
B
100.0
SSE Energy Markets Limited
B
100.0
SSE Energy Supply Limited
B
100.0
SSE Enterprise Limited
B
100.0
SSE Ewerby Solar Holdco Limited
B
100.0
SSE Ewerby Solar Limited
B
100.0
SSE Fancott BESS Limited
B
100.0
SSE Ferrybridge Battery Limited
B
100.0
SSE Fiddlers Ferry Battery Limited
B
100.0
SSE Foxholes Solar Limited
B
100.0
SSE Generation Limited
B
100.0
SSE Group Limited
A
100.0
SSE Heat Networks (Battersea) Limited
B
100.0
SSE Heat Networks Limited
A
100.0
SSE Hornsea Limited
B
100.0
SSE HV Electricity Assets Limited
B
100.0
SSE Hydrogen Holdings Limited
B
100.0
SSE Hydrogen Developments Limited
B
100.0
SSE IAMP Microgrid Limited
B
100.0
SSE Imperial Park PN Limited
B
100.0
SSE Knapthorpe Solar Limited
B
100.0
SSE Low Carbon Developments Limited
B
100.0
SSE Low Carbon Holdings Limited
B
100.0
SSE Maple Limited
B
100.0
SSE Medway Operations Limited
B
100.0
SSE Micro Renewables Limited
A
100.0
SSE Multifuel Generation Holdings Limited
B
100.0
SSE Muskham Solar Limited
B
100.0
SSE Newchurch Solar Limited
B
100.0
SSE OWS Glasgow Limited
A
100.0
SSE Private Networks Holdco Limited
B
100.0
SSE Production Services Limited
B
100.0
SSE Renewables Holdings (UK) Limited
F
100.0
SSE Renewables International Holdings Limited
A
100.0
SSE Renewables Limited
A
100.0
SSE Renewables Offshore Windfarm Holdings
A
100.0
Limited
SSE Renewables Onshore Windfarm Holdings
F
100.0
Limited
SSE Renewables Poland Holdings Limited
A
100.0
SSE Renewables Services (UK) Limited
F
100.0
SSE Renewables Solar & Battery Holdings
B
100.0
Limited
SSE Renewables UK Limited
F
100.0
SSE Renewables Wind Farms (UK) Limited
A
100.0
SSE Retail Limited
A
100.0
SSE Seabank Investments Limited
B
100.0
SSE Seabank Land Investments Limited
B
100.0
SSE Services plc
B
100.0
SSE Southern Group Trustee Limited
B
100.0
SSE Staythorpe Battery Limited
B
100.0
SSE Staythorpe Power Limited
B
100.0
SSE Staythorpe SGT Limited
B
100.0
SSE Staythorpe Solar Limited
B
100.0
SSE Southery Solar Limited
B
100.0
SSE Stock Limited
A
100.0
SSE Thermal Energy Holdings Limited
B
100.0
SSE Thermal Energy Operations Limited
B
100.0
SSE Thermal Generation (Scotland) Limited
A
100.0
Registered 2026
address Holding
Company (Key) %
U
nite
d
Kingdo
m
continued
SSE Thermal Generation Holdings Limited
B
100.0
SSE Toddleburn Limited
A
100.0
SSE Trading Limited
B
100.0
SSE Trustees Limited
B
100.0
SSE Utility Services Limited
B
100.0
SSE Utility Solutions Limited
B
100.0
SSE Venture Capital Limited
A
100.0
SSE Viking Limited
B
100.0
SSE(SE) Quest Trustee Limited
B
100.0
SSEN Distribution Limited
A
100.0
SSEPG (Operations) Limited
B
100.0
Strathy Wind Farm Limited
A
100.0
Tealing Solar Park Limited
B
100.0
TESGL Limited
D
100.0
The Energy Solutions Group Bidco Limited
D
100.0
The Energy Solutions Group Midco Limited
D
100.0
The Energy Solutions Group Topco Limited
D
100.0
Viking Energy (Scottish Partnership)
A
100.0
Viking Energy Wind Farm LLP
A
100.0
Ireland
Airtricity Windfarm Finance Limited
C
100.0
Arklow Offshore Phase II Company Limited
C
100.0
Bindoo Windfarm (ROI) Limited
C
100.0
Brickmount Limited
C
100.0
Comhlacht Gaoithe Teoranta
C
100.0
Coomacheo Wind Farm Limited
C
100.0
Coomatallin Windfarm (ROI) Limited
C
100.0*
Curragh Mountain Windfarm Limited
C
100.0
Dedondo Limited
C
100.0
Dromada Windfarm (ROI) Limited
C
100.0
Enerveo Ireland Limited
Z
100.0
Galway Wind Park Phase 3 Designated Activity
C
100.0
Company
Ganderoy Limited
C
100.0
Gartnaneane Limited
C
100.0*
Glenora Wind Farm Designated Activity Company
C
100.0
Green Wind Energy (Wexford) Limited
C
100.0
Leanamore Wind Farm Limited
C
100.0
Lenalea Wind Farm Designated Activity Company
C
100.0
Limerick West Windfarm Limited
C
100.0
March Winds Limited
C
100.0
Meentycat Limited
C
100.0
Milane Holdings Limited
C
100.0
Mullananalt Wind Farm (ROI) Limited
C
100.0
Platin Power Limited
C
100.0
Richfield Windfarm (ROI) Limited
C
100.0
Sheskin South Renewables Power Designated
C
100.0
Activity Company
SSE Airtricity Distributed Energy Limited
C
100.0
SSE Airtricity Energy Services Limited
C
100.0
SSE Airtricity Limited
C
100.0
SSE Cumars\u00e1id Teoranta
C
100.0
SSE Generation Ireland Limited
C
100.0
SSE Renewables (Ireland) Limited
C
100.0
SSE Renewables Generation Ireland Limited
C
100.0
SSE Renewables Holdings (Europe) Limited
C
100.0
SSE Renewables Holdings Limited
C
100.0
SSE Renewables Off Shore Limited
C
100.0
SSE Renewables Wind (Ireland) Holdings Limited
C
100.0
Registered 2026
address Holding
Company (Key) %
SSE Renewables Wind Farms (Ireland) Limited
C
100.0
Sure Partners Limited
C
100.0
SSE Renewables Tinnycross Battery Storage
C
100.0
Limited
Tournafulla Windfarm (ROI) Limited
C
100.0
Zeusford Limited
C
100.0
France
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) d\u2019orchamps
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) de la Cuesta
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) de Vireaux
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) des Jacquessons
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Chaintrix Bierges SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Champeaux SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Germainville SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Belle
AE
100.0
Dame SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Brie
AE
100.0
des Etangs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la
AE
100.0
Monchot SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la T\u00eate
AE
100.0
des Boucs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
la Voie Pou\u00e7oise
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Moulins du Puits SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Pringy
AE
100.0
SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Saint
AE
100.0
Loup de Saintonge SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
Salon Sud
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Souvans SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Vernierfontaine SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Villiers
AE
100.0
aux Ch\u00eanes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des
AE
100.0
Fontaines SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Six
AE
100.0
Communes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Voies
AE
100.0
de Bar SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Mont
AE
100.0
\u00c9gar\u00e9 SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Vireaux
AE
100.0
SAS
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) d\u2019Orchamps SAS
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) de la Cuesta SARL
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) du Tonnerrois
AE
100.0
SSE Renewables France SARL
AE
100.0
Germany
SSE Renewables Developments (Germany)
U
100.0
GmbH
Greece
Enerfarm 3 Single Member S.A. Renewable
AB
100.0
Energy Sources
Energiaki Kleidi Single Member S.A.
AB
100.0
Energiaki Mavrovouniou Single Member Private
AB
100.0
Company
Energiaki Mesovouniou Single Member S.A.
AB
100.0
Energiaki Platorrachis Single Member S.A.
AB
100.0
Energiaki Velanidias Single Member S.A.
AB
100.0
SSE Renewables Hellas Single Member S.A.
AB
100.0
Isle of Man
SSE Insurance Limited
G
100.0
Italy
SPV Parco Eolico Libeccio S.r.l.
AC
100.0
SPV Parco Eolico Maestrale S.r.l.
AC
100.0
SPV Parco Eolico Tramontana S.r.l.
AC
100.0
SSE Renewables Italy S.r.l.
AC
100.0
Japan
Aichi Offshore Wind Power No. 1 G.K.
Y
80.0
Aichi Offshore Wind Power No. 2 G.K.
Y
80.0
Enshunada Offshore Wind Power No. 1 G.K.
Y
80.0
GIF Phase 2 G.K. (formerly Niigata Offshore
Y
80.0
Wind Power No.1 G.K.)
Goto-Fukue Offshore Wind Power G.K.
Y
80.0
Izu Islands Offshore Wind Power No. 1 G.K.
Y
80.0
Minami-Izu Offshore Wind Power No. 1 G.K.
Y
80.0
Oki Islands Offshore Wind Power G.K.
Y
80.0
SSE Pacifico K.K.
Y
80.0
SSE Yuza Offshore Wind Power G.K.
Y
80.0
Tokushima Offshore Wind Power G.K.
Y
80.0
Wakayama-West Offshore Wind Power No. 1
Y
80.0
G.K.
Wakayama-West Offshore Wind Power No. 2
Y
80.0
G.K.
Netherlands
SSE Renewables (Netherlands) Holdings B.V.
AA
100.0
SSE Renewables Developments (The
Netherlands) B.V.
AA
100.0
SSE Sunflower Offshore Wind Holdco B.V.
AA
100.0
SSE Sunflower Offshore Wind Limited Partner 1
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 2
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 3
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner
AA
100.0
4B.V.
SSE Tulip Offshore Wind Holdco B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 1 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 2 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 3 B.V.
AA
100.0
Poland
IBC SE PL3 sp. z o.o.
AJ
100.0
IBC SE PL20 sp. z o.o.
AJ
100.0
IBC SE PL22 sp. z o.o.
AJ
100.0
IBC SE PL23 sp. z o.o.
AJ
100.0
IBC SE PL24 sp. z o.o.
AJ
100.0
IBC SE PL34 sp. z o.o.
AJ
100.0
Pomerania PV sp z.o.o.
AJ
100.0
SSE Renewables Poland sp z.o.o. w likwidacji
(formerly SSE Renewables Poland sp z.o.o.)
X
100.0
Spain
ICE Torrecilla Renovables S.L.
W
80.3
Sistemas Energ\u00e9ticos \u00c1brego S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ariel S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Boreas S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos C\u00e9firo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos del Sur S.A.U.
AD
100.0
Sistemas Energ\u00e9ticos Eolo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 1 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 2 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Gregal S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos J\u00fapiter S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Marte S.L. U.
AD
100.0
Sistemas Energ\u00e9ticos Mercurio S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Neptuno S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ober\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Plut\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tablero Tabordo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Terral S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tit\u00e1n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Urano S.L.U.
AD
100.0
SSE Renewables Southern Europe S.L.
AD
100.0
SSE Renewables Spain S.L.
AD
100.0
All shares in subsidiary companies are ordinary share capital, unless otherwise stated. * 100% of voting rights held. Statutory audit exemptions SSE plc parent company has provided guarantees under section 479C of the Companies Act 2006 over the liabilities of the following companies, which are therefore exempt from audit under the requirements of s479A-479C of the Companies Act 2006.
Registered
Company number
Aberarder Wind Farm (Scotland) Limited
SC746968
Aberarder Wind Farm LLP
OC398487
Abernedd Power Company Limited
06383166
Aegletes III Holdco Limited
13665453
Aldbrough Pathfinder Limited
15238323
Berwick Bank Holdings A Limited
07294660
Berwick Bank Holdings B Limited
13881643
Berwick Bank Holdings C Limited
07294689
Berwick Bank Wind Farm Limited
SC721781
Bhlaraidh Extension Wind Farm Limited
SC798136
Bhlaraidh Wind Farm Limited
SC663027
Building Automation Solutions Limited
05827765
By-Pass Farm Solar Limited
12558977
Ferrybridge Hydrogen Limited
15238441
Fibre Fuel Limited
02902165
Fibre Power (Slough) Limited
02902170
Griffin Wind Farm Limited
SC245113
Hydro Electric Pension Scheme Trustees Limited
SC567945
Keadby Developments Limited
02691516
Keadby Next Generation Limited
15866301
Keadby Wind Farm Limited
06852112
LG-B-300 Limited
SC765613
Power From Waste Limited
02902302
Slough Domestic Electricity Limited
03486588
Slough Energy Supplies Limited
02474514
Slough Heat & Power Limited
00174142
Slough Utility Services Limited
03486590
SSE Airtricity Energy Services (NI) Limited
NI056373
SSE Beatrice Offshore Windfarm Holdings Limited
SC436255
SSE BTM HoldCo Limited
14413957
SSE BTM Operational Assets Limited
14885059
SSE Contracting Group Limited
02471438
SSE Cottered Solar Limited
15346645
SSE Daines BESS Limited
15344013
SSE DE Solar HoldCo Limited
14189570
SSE Derrymeen BESS Limited
NI697259
SSE Digital Services Limited
14621186
SSE Eggborough Limited
14939853
SSE Enterprise Limited
10060563
SSE Ewerby Solar Holdco Limited
14939987
SSE Ewerby Solar Limited
14959032
SSE Fancott Bess Limited
15344001
SSE Ferrybridge Battery Limited
14411214
SSE Fiddlers Ferry Battery Limited
14418916
SSE Foxholes Solar Limited
14044466
SSE Group Limited
SC126049
SSE Heat Networks (Battersea) Limited
10176638
Registered
Company number
SSE HV Electricity Assets Limited
14418288
SSE Hydrogen Developments Limited
15238086
SSE Hydrogen Holdings Limited
15231331
SSE IAMP Microgrid Limited
15333093
SSE Imperial Park PN Limited
02631510
SSE Knapthorpe Solar Limited
14044446
SSE Low Carbon Developments Limited
15069108
SSE Low Carbon Holdings Limited
15052653
SSE Maple Limited
10604848
SSE Medway Operations Limited
02647585
SSE Micro Renewables Limited
SC386017
SSE Multifuel Generation Holdings Limited
12661566
SSE Muskham Solar Limited
14044402
SSE Newchurch Solar Limited
15348120
SSE OWS Glasgow Limited
SC228283
SSE Private Networks Holdco Limited
14921243
SSE Production Services Limited
02499702
SSE Renewables Holdings (UK) Limited
NI043239
SSE Renewables Offshore Windfarm Holdings Limited
SC436251
SSE Renewables Onshore Windfarm Holdings Limited
NI049557
SSE Renewables Poland Holdings Limited
SC723844
SSE Renewables Solar & Battery Holdings Limited
13561962
SSE Renewables UK Limited
NI048447
SSE Renewables Wind Farms (UK) Limited
SC654502
SSE Retail Limited
SC213458
SSE Seabank Investments Limited
02631512
SSE Seabank Land Investments Limited
07877772
SSE Southern Group Trustee Limited
04009847
SSE Southery Solar Limited
14953142
SSE Staythorpe Battery Limited
14046860
SSE Staythorpe Power Limited
14043534
SSE Staythorpe SGT Limited
14046946
SSE Staythorpe Solar Limited
14046913
SSE Thermal Energy Holdings Limited
12650549
SSE Thermal Generation Holdings Limited
12662248
SSE Toddleburn Limited
SC259104
SSE Trustees Limited
03048985
SSE Viking Limited
06021053
SSE(SE) Quest Trustee Limited
03487059
SSEPG (Operations) Limited
02764438
Strathy Wind Farm Limited
SC663103
Tealing Solar Park Limited
08783684
The Energy Solutions Group Bidco Limited
07187066
The Energy Solutions Group Midco Limited
07403400
The Energy Solutions Group Topco Limited
07419528
A3.1.2 Joint arrangements (incorporated)
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
AtlasConnect Limited
A
50.0
H2Northeast Limited
H
50.0
Baglan Pipeline Limited
K
50.0
Indian Queens Power Limited
AF
50.0
Beatrice Offshore Windfarm Holdco Limited
A
40.0
Marchwood Power Limited
N
50.0
Beatrice Offshore Windfarm Limited
A
40.0
Neos Networks Limited
A
50.0
Clyde Windfarm (Scotland) Limited **
A
50.1
NNXYZ Limited
B
50.0
DB Operational Base Limited
J
40.0
North Falls Offshore Wind Farm Holdco Limited
AG
50.0
Deeside Power (UK) Limited
AF
50.0
North Falls Offshore Wind Farm Limited
AG
50.0
Deeside Power Operations Limited
AF
50.0
Ossian Offshore Wind Farm Holdings Limited
A
40.0
Digital Reach Partners Limited (formerly D Reach
B
50.0
Ossian Offshore Wind Farm Limited
A
40.0
Partners Limited)
Doggerbank Offshore Wind Farm Project 1
B
40.0
Pride (SERP) Limited
AI
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 1
B
40.0
Reach Fibre Company Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Holdings Group Limited
B
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Infrastructure Group Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Cogeneration Company Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Operations Company Limited
AF
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
SCCL Holdings Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
Seabank Power Limited
O
50.0
Leaseco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A (Holdco) Limited
B
49.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A Limited
B
49.0
Projco Limited
DRPXYZ Limited (formerly Digital Reach Partners
A
50.0
Seagreen Alpha Wind Energy Limited
B
49.0
Limited)
Dunmaglass Wind Farm Limited
A
50.1
Seagreen Bravo Wind Energy Limited
B
49.0
Eastern Green Link 2 Limited ***
B
50.0
Seagreen Holdco 1 Limited
B
49.0
Eastern Green Link 3 Limited ***
B
50.0
Seagreen Wind Energy Limited
B
49.0
Fearna PSH Limited
B
50.0
Source EV Limited
B
50.0
Greater Gabbard Offshore Winds Limited ***
B
50.0
Source EV UK Limited
B
50.0
Green H2 Developments Hold Co Limited
B
50.0
SSE Slough Multifuel Holdco Limited
B
50.0
Green H2 Developments Project Co Limited
B
50.0
SSE Slough Multifuel Limited
B
50.0
H2NE Parentco Limited
H
50.0
Stronelairg Wind Farm Limited
A
50.1
Ireland
Allbrite Heatpump Specialists Limited
R
25.0
Green Energy Company Limited **
M
50.0
Bellair Wind Farm Designated Activity Company
I
50.0
Green Way Energy Limited
M
50.0
Cloosh Valley Wind Farm Designated Activity
L
25.0
Kerry Power Limited
M
49.0
Company
Cloosh Valley Wind Farm Holdings Designated
L
25.0
Kilberry Wind Farm Designated Activity Company I
50.0
Activity Company
Coolnagun Wind Farm Designated Activity
I
50.0
Lemanaghan Wind Farm Designated Activity
I
50.0
Company Company
Cornafulla Wind Farm Designated Activity
I
50.0
Littleton Wind Farm Designated Activity
I
50.0
Company Company
Derryfadda Wind Farm Designated Activity
I
50.0
Marron Activ8 Energies Limited
R
50.0
Company
Drumnahough Wind Farm Designated Activity
C
50.0
Midas Energy Limited
M
49.0
Company
Everwind Limited
S
49.0
Source EV Ireland Limited
C
50.0
Garryhinch Wind Farm Designated Activity
I
50.0
Company
Jersey
Triton Power Holdings Limited
AH
50.0
Triton Power Limited
AH
50.0
Triton Power Intermediate Holdings Limited
AH
50.0
Netherlands
Lely Alpha Offshore Wind General Partner B.V.
AA
50.0
Lely Alpha Offshore Wind Projco C.V.
AA
50.0
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
Spain
ICE Santa Engracia, S.L.
V
44.6
** Holding represents % of voting rights *** Joint Operation A3.1.3 Associates
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
Corran Environmental LP
AK
74.0
St Clements Services Limited
P
25.0
A3.1.4 Registered address key
Reference
Company registered address
A
Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ
B
No 1 Forbury Place, 43 Forbury Road, Reading RG1 3JH
C Red Oak South, South County Business Park, Leopardstown, Dublin 18
D Ocean Court, Caspian Road, Atlantic Street, Altrincham, WA14 5HH
E
Keadby Power Station, Trentside, Keadby, Scunthorpe, North Lincs DN17 3AZ
F
3rd Floor, Millennium House, 25 Great Victoria Street, Belfast, BT2 7AQ
G
Tower House, Loch Promenade, Douglas, Isle of Man
H
Suite 1, 7th Floor, 50 Broadway, London, United Kingdom, SW1H 0BL
I Main St, Newbridge, Kildare, Ireland
J
One Kingdom Street, London, United Kingdom, W2 6BD
K
10 Fleet Place, London, EC4M 7QS
L 6th Floor, South Bank House, Barrow Street, Dublin 4
M Lissarda Industrial Park, Lissarda, Macroom, County Cork
N
Oceanic Way, Marchwood Industrial Park, Marchwood, Southampton SO40 4BD
O
Severn Road, Hallen, Bristol, BS10 7SP
P
4 \u2013 6 Church Walk, Daventry, NN11 4BL
Q
Unit 14 Maryland Industrial Estate, Ballygowan Road, Belfast
R
Nexus N2 Business Park, Carrickmacross, Monaghan, A81 XK73, Ireland
S
Gorthleahy, Macroom, Co Cork, Ireland
T
Second Floor Eagle Court 2, Hatchford Way, Birmingham B26 3RZ
U
c/o Bird & Bird LLP, Maximiliansplatz 22, Munich 80333
V Calle de la Portalada, 50, 26.006, Logro\u00f1o (La Rioja), Spain
W
Avda Gomez Laguna, 25, 50009 \u2013 Zaragoza, Spain
X Towarowa no.28, suite 00-839, Warsaw, Poland
Y
Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo, Japan
Z
Unit 42 Block 528, Grants View, Greenogue Business Park, Rathcoole, Dublin, Ireland
AA
Hofplein 20, Rotterdam, 3032 AC, Netherlands
AB
16 Kifissias Ave, 11526, Athens, Greece
AC
Viale Luca Gaurico, 91/93, 00143, Rome, Italy
AD
Alameda Mazarredo 7, entreplanta, 48001, Bilbao, Spain
AE
97 all\u00e9e Alexandre Borodine, Immeuble C\u00e8dre 3,
69800,
Saint Priest, France
AF
Saltend Power Station Saltend Chemicals Park, Hedon Road, Hull, East Riding of Yorkshire, England, HU12 8GA
AG
Windmill Hill Business Park, Whitehill Way, Swindon, Wiltshire, United Kingdom, SN5 6PB
AH
22 Grenville Street, St Helier, Jersey, JE4 SPX
AI
Level 12, The Shard, 32 London Bridge Street, London, SE1 9SG
AJ
Plac Marsza\u0142ka J\u00f3zefa Pi\u0142sudskiego 2 00-073 Warsaw
AK
4th Floor, 7 Castle Street, Edinburgh, EH2 3AH
A4. Joint ventures and associates The Directors have assessed that the investments in the following equity accounted joint ventures and associates are of a sufficiently material impact to warrant additional disclosure on an individual basis. Details of the financial position and financial results of the Group:
Class of Proportion of
Company shares held
shares held %
Group Interest %
Year end date
Consolidation basis
United Kingdom
Seabank Power Limited
Ordinary
50.0
50.0
31 December
Equity
Marchwood Power Limited
Ordinary
50.0
50.0
31 December
Equity
SSE Slough Multifuel Holdco Limited
Ordinary
50.0
50.0
31 March
Equity
Clyde Windfarm (Scotland) Limited
Ordinary
50.1
50.1
31 March
Equity
Seagreen Holdco 1 Limited
Ordinary
49.0
49.0
31 March
Equity
Beatrice Offshore Windfarm Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Dunmaglass Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Stronelairg Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Doggerbank Offshore Wind Farm Project 1 Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Jersey
Triton Power Holdings Limited
Ordinary
50.0
50.0
31 December
Equity
Summary information for material joint ventures and associates from unaudited financial statements is as follows:
Doggerbank
Beatrice Offshore
SSE Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i)
Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
279.8
69.1
64.9
206.9
322.5
149.4
43.5
105.3
370.5
109.9
230.0
1,951.8
Other income
\u2013
\u2013
\u2013
\u2013
3 . 9
2 6 6 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 7 0 . 8
Depreciation and
amortisation
(11.7)
(7.8)
(14.9)
(29.3)
(98.4)
(88.5)
(8.0)
(13.7)
(33.6)
(9.6)
(140.9)
(456.4)
Other operating costs
(232.5)
(21.3)
(23.4)
(44.4)
(101.0)
(133.1)
(9.6)
(19.1)
(365.3)
(11.4)
(130.1)
(1,091.2)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(48.6)
\u2013
\u2013
\u2013
4.2
\u2013
0.5
(43.9)
Operating profit
35.6
40.0
26.6
133.2
78.4
194.7
25.9
72.5
(24.2)
88.9
(40.5)
631.1
Interest expense
0.3
(0.7)
(23.6)
(21.1)
(153.9)
(56.9)
(6.5)
(12.9)
2.2
(58.5)
(33.9)
(365.5)
Profit before tax
35.9
39.3
3.0
112.1
(75.5)
137.8
19.4
59.6
(22.0)
30.4
(74.4)
265.6
Corporation tax
(8.3)
(9.7)
\u2013
(29.3)
4.1
(34.7)
(4.4)
(14.8)
0.5
(3.5)
0.5
(99.6)
Profit after tax
27.6
29.6
3.0
82.8
(71.4)
103.1
15.0
44.8
(21.5)
26.9
(73.9)
166.0
Recognised in other
comprehensive
income
Cash flow hedges
\u2013
\u2013
\u2013
\u2013
(13.2)
(26.2)
\u2013
\u2013
\u2013
(24.7)
(47.4)
(111.5)
Taxation
\u2013
\u2013
\u2013
\u2013
3.3
6.6
\u2013
\u2013
\u2013
6.2
11.8
27.9
Other
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 . 8 )
( 1 5 . 8 )
Total comprehensive
\u2013
\u2013
\u2013
\u2013
(9.9)
(19.6)
\u2013
\u2013
\u2013
(18.5)
(51.4)
(99.4)
income/(loss)
27.6
29.6
3.0
82.8
(81.3)
83.5
15.0
44.8
(21.5)
8.4
(125.3)
66.6
SSE share of profit
(based on % equity)
13.8
14.8
1.5
41.5
(35.0)
41.2
7.5
22.4
(10.8)
10.8
(19.7)
88.0
Dividends paid to
shareholders
21.0
37.0
\u2013
116.1
26.6
53.7
25.5
68.5
25.0
\u2013
8.4
381.8
Non-current assets
114.5
107.4
455.3
472.4
2,946.6
1,531.7
156.9
289.4
202.2
3,153.4
6,607.6
16,037.4
Current assets
94.9
13.7
15.0
100.3
87.8
595.3
21.9
48.6
130.1
883.9
62.2
2,053.7
Cash and cash
equivalents
48.8
19.6
17.6
30.6
125.3
96.1
10.9
19.8
15.4
73.1
1 3 8 . 2
5 9 5 . 4
Current liabilities
(87.7)
(20.9)
(7.4)
(46.5)
(247.2)
(568.0)
(9.1)
(27.1)
(109.7)
(51.7)
(393.2)
(1,568.5)
Non-current liabilities
(42.8)
(32.8)
(351.1)
(427.4)
(2,230.9)
(1,527.5)
(143.4)
(260.7)
(12.5)
(3,415.0)
(5,528.6)
(13,972.7)
Net assets
127.7
87.0
129.4
129.4
681.6
127.6
37.2
70.0
225.5
643.7
886.2
3,145.3
Group equity interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership interest
63.9
43.5
64.7
64.8
334.0
51.0
18.6
35.1
112.8
257.5
411.2
1,457.1
Other adjustments
(21.0)
0.3
31.1
39.3
84.5
(1.1)
62.2
191.9
28.2
1.7
70.9
488.0
Carrying value of
Group\u2019s equity
interest
42.9
43.8
95.8
104.1
418.5
49.9
80.8
227.0
141.0
259.2
482.1
1,945.1
(restated
(ii)
)
Doggerbank
SSE Beatrice Offshore
Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i) (ii)
Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
288.1
96.3
60.0
194.6
354.0
171.1
37.7
106.6
402.6
14.8
212.1
1,937.9
Other income
\u2013
\u2013
\u2013
\u2013
23.2
245.7
\u2013
\u2013
\u2013
\u2013
0.1
269.0
Depreciation and
amortisation
(7.0)
(35.0)
(8.4)
(29.2)
(98.6)
(88.0)
(8.0)
(13.7)
(34.5)
(2.2)
(134.7)
(459.3)
Other operating
costs
(241.9)
(19.5)
(21.0)
(41.4)
(89.6)
(94.8)
(8.1)
(20.4)
(420.3)
(6.8)
(134.1)
(1,097.9)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(53.8)
\u2013
\u2013
\u2013
(3.4)
\u2013
\u2013
(57.2)
Operating profit
39.2
41.8
30.6
124.0
135.2
234.0
21.6
72.5
(55.6)
5.8
(56.6)
592.5
Interest expense
1.4
(1.6)
(15.2)
(18.5)
(209.3)
(59.3)
(6.2)
(11.9)
5.1
(1.5)
(31.0)
(348.0)
Profit before tax
40.6
40.2
15.4
105.5
(74.1)
174.7
15.4
60.6
(50.5)
4.3
(87.6)
244.5
Corporation tax
(11.1)
(9.2)
3.8
(26.9)
63.5
(22.7)
(3.4)
(14.8)
14.9
(1.1)
(0.7)
(7.7)
Profit after tax
29.5
31.0
19.2
78.6
(10.6)
152.0
12.0
45.8
(35.6)
3.2
(88.3)
236.8
Recognised in
other
comprehensive
income
Cash flow hedges
\u2013
\u2013
0.6
\u2013
(3.3)
(12.8)
\u2013
\u2013
\u2013
(49.8)
9.7
(55.6)
Taxation
\u2013
\u2013
\u2013
\u2013
0.8
3.3
\u2013
\u2013
\u2013
12.5
(2.6)
14.0
O t h e r
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
1 5 . 8
1 5 . 8
\u2013
\u2013
0.6
\u2013
(2.5)
(9.5)
\u2013
\u2013
\u2013
(37.3)
22.9
(25.8)
Total
comprehensive
income/(loss)
29.5
31.0
19.8
78.6
(13.1)
142.5
12.0
45.8
(35.6)
(34.1)
(65.4)
211.0
SSE share of profit
(based on %
equity)
14.8
15.5
9.6
39.4
(5.2)
60.8
6.0
22.9
(17.8)
1.3
(57.4)
89.9
Dividends paid to
shareholders
47.0
44.2
\u2013
102.0
38.9
119.3
12.4
55.0
\u2013
\u2013
11.1
429.9
Non-current assets
82.8
114.1
471.4
510.1
3,027.6
1,750.4
165.2
304.7
184.1
3,670.4
6,460.3
16,741.1
Current assets
56.7
8.5
14.9
86.8
47.2
62.7
16.7
49.8
164.1
21.6
94.7
623.7
Cash and cash
equivalents
51.8
20.7
21.9
45.1
95.3
104.0
18.4
27.7
5.1
60.6
278.8
729.4
Current liabilities
(44.9)
(18.2)
(11.1)
(42.8)
(13.0)
(199.7)
(7.3)
(25.5)
(68.7)
(86.7)
(348.7)
(866.6)
Non-current
liabilities
(26.3)
(29.5)
(370.6)
(431.7)
(2,424.9)
(1,619.6)
(144.8)
(262.5)
(12.3)
(3,042.7)
(5,649.7)
(14,014.6)
Net assets
120.1
95.6
126.5
167.5
732.2
97.8
48.2
94.2
272.3
623.2
835.4
3,213.0
Group equity
interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership
interest
60.1
47.8
63.3
83.9
358.8
39.1
24.1
47.2
136.2
249.3
384.5
1,494.3
Other adjustments
(20.4)
(0.3)
31.7
39.9
100.3
(1.1)
65.5
202.9
1.6
2.4
70.5
493.0
Carrying value of
Group\u2019s equity
interest
39.7
47.5
95.0
123.8
459.1
38.0
89.6
250.1
137.8
251.7
455.0
1,987.3
(i) In addition to the above the following joint ventures and associates have an equity carrying value that constitutes a material investment of the Group: Doggerbank Offshore Wind Farm Project 2 Holdco Limited \u00a3128.4m (2025: \u00a3118.8m): Doggerbank Offshore Wind Farm Project 3 and 4 Holdco Limited \u00a395.0m (2025: \u00a390.6m) and Ossian Offshore Wind Farm Holdings Limited \u00a363.6m (2025: \u00a360.8m). (ii) The comparatives have been restated to present Neos Networks Limited in Other, based on the significance of the investment to the Group. In addition to the above at 31 March 2026, the Group was owed the following loans from its principal joint ventures: SSE Slough Multifuel Holdco Limited \u00a3172.5m (2025: \u00a3181.3m); Clyde Windfarm (Scotland) Limited \u00a3127.1m (2025: 127.1m); Seagreen Holdco 1 Limited \u00a3648.0m (2025: \u00a3646.0m); Dunmaglass Wind Farm Limited \u00a346.6m (2025: \u00a346.6m); Stronelairg Wind Farm Limited \u00a388.7m (2025: \u00a388.7m); and Doggerbank Offshore Wind Farm Project 1 Holdco Limited \u00a3313.4m (2025: 188.3m). This represents 86% (2025: 85%) of the loans provided to equity-accounted joint ventures and associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-652": { "value": "
17. Inventories
2026 2025
\u00a3m \u00a3m
Fuel and consumables
168.6
170.9
Certificates and allowances
277.2
268.1
Gas held in storage
23.4
57.6
Less: provisions held
(35.0)
(33.7)
434.2
462.9
Where ROCs and Renewable Energy Guarantees of Origin (\u201cREGOs\u201d) certificates are self-generated or purchased to fulfil the Group\u2019s
environmental obligations, they are recorded within intangible assets. The value of ROCs and REGOs held in excess of the Group\u2019s
environmental obligations are recorded within inventories.
The Group has expensed inventories of \u00a3415.9m within cost of sales in the year (2025: \u00a3571.9m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-695": { "value": "
18. Trade and other receivables
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
Loan note receivable and other non-current assets
232.0
199.9
Other prepayments and accrued income
372.0
247.8
604.0
447.7
Current assets
Trade receivables
1,370.2
1,480.2
Unbilled energy income
547.2
521.1
Other receivables
148.1
56.2
Cash posted as collateral and other deposits
25.3
19.2
Other prepayments and accrued income
939.5
618.7
3,030.3
2,695.4
Total trade and other receivables
3,634.3
3,143.1
* The comparatives have been restated. See note 1.2.
The non-current loan note receivable and other non-current assets primarily consists of a \u00a3220.0m (2025: \u00a3193.5m) loan note payable by Ovo
Group Limited by 2029. The loan note carries interest of 13.25% and is presented cumulative of accrued interest repayments, discounted at
13.25%. On 11 May 2026, subsequent to the balance sheet date, E.On announced the acquisition of Ovo\u2019s Retail business, subject to regulatory
approval. Completion of the acquisition would result in the principal and accumulated interest becoming repayable in full. While considered a
non-adjusting post balance sheet event in terms of classification, the Group has considered the transaction as part of its recoverability
assessment. No changes to the recoverable value were made following announcement of the transaction.
Unbilled energy income represents an estimate of the value of electricity or gas supplied to customers between the date of the last meter
reading and the year end. Detail of the calculation applied to estimate this balance is included at note 4.1(iii)
. A 5% sensitivity on the unbilled
energy accrual would equate to an increase or decrease in the receivable balance of \u00a313.1m (2025: \u00a314.6m).
Cash posted as collateral includes amounts deposited on commodity trading exchanges of \u00a313.0m (2025: \u00a39.6m).
Trade receivables and other financial assets are part of the Group\u2019s financial exposure to credit risk as explained in accompanying information
note A6
.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-653": { "value": "18. Trade and other receivables
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
Loan note receivable and other non-current assets
232.0
199.9
Other prepayments and accrued income
372.0
247.8
604.0
447.7
Current assets
Trade receivables
1,370.2
1,480.2
Unbilled energy income
547.2
521.1
Other receivables
148.1
56.2
Cash posted as collateral and other deposits
25.3
19.2
Other prepayments and accrued income
939.5
618.7
3,030.3
2,695.4
Total trade and other receivables
3,634.3
3,143.1
* The comparatives have been restated. See note 1.2. The non-current loan note receivable and other non-current assets primarily consists of a \u00a3220.0m (2025: \u00a3193.5m) loan note payable by Ovo Group Limited by 2029. The loan note carries interest of 13.25% and is presented cumulative of accrued interest repayments, discounted at 13.25%. On 11 May 2026, subsequent to the balance sheet date, E.On announced the acquisition of Ovo\u2019s Retail business, subject to regulatory approval. Completion of the acquisition would result in the principal and accumulated interest becoming repayable in full. While considered a non-adjusting post balance sheet event in terms of classification, the Group has considered the transaction as part of its recoverability assessment. No changes to the recoverable value were made following announcement of the transaction. Unbilled energy income represents an estimate of the value of electricity or gas supplied to customers between the date of the last meter reading and the year end. Detail of the calculation applied to estimate this balance is included at note 4.1(iii) . A 5% sensitivity on the unbilled energy accrual would equate to an increase or decrease in the receivable balance of \u00a313.1m (2025: \u00a314.6m). Cash posted as collateral includes amounts deposited on commodity trading exchanges of \u00a313.0m (2025: \u00a39.6m). Trade receivables and other financial assets are part of the Group\u2019s financial exposure to credit risk as explained in accompanying information note A6 . ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-769": { "value": "18. Trade and other receivables
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
Loan note receivable and other non-current assets
232.0
199.9
Other prepayments and accrued income
372.0
247.8
604.0
447.7
Current assets
Trade receivables
1,370.2
1,480.2
Unbilled energy income
547.2
521.1
Other receivables
148.1
56.2
Cash posted as collateral and other deposits
25.3
19.2
Other prepayments and accrued income
939.5
618.7
3,030.3
2,695.4
Total trade and other receivables
3,634.3
3,143.1
* The comparatives have been restated. See note 1.2. The non-current loan note receivable and other non-current assets primarily consists of a \u00a3220.0m (2025: \u00a3193.5m) loan note payable by Ovo Group Limited by 2029. The loan note carries interest of 13.25% and is presented cumulative of accrued interest repayments, discounted at 13.25%. On 11 May 2026, subsequent to the balance sheet date, E.On announced the acquisition of Ovo\u2019s Retail business, subject to regulatory approval. Completion of the acquisition would result in the principal and accumulated interest becoming repayable in full. While considered a non-adjusting post balance sheet event in terms of classification, the Group has considered the transaction as part of its recoverability assessment. No changes to the recoverable value were made following announcement of the transaction. Unbilled energy income represents an estimate of the value of electricity or gas supplied to customers between the date of the last meter reading and the year end. Detail of the calculation applied to estimate this balance is included at note 4.1(iii) . A 5% sensitivity on the unbilled energy accrual would equate to an increase or decrease in the receivable balance of \u00a313.1m (2025: \u00a314.6m). Cash posted as collateral includes amounts deposited on commodity trading exchanges of \u00a313.0m (2025: \u00a39.6m). Trade receivables and other financial assets are part of the Group\u2019s financial exposure to credit risk as explained in accompanying information note A6 .", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-730": { "value": "18. Trade and other receivables
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
Loan note receivable and other non-current assets
232.0
199.9
Other prepayments and accrued income
372.0
247.8
604.0
447.7
Current assets
Trade receivables
1,370.2
1,480.2
Unbilled energy income
547.2
521.1
Other receivables
148.1
56.2
Cash posted as collateral and other deposits
25.3
19.2
Other prepayments and accrued income
939.5
618.7
3,030.3
2,695.4
Total trade and other receivables
3,634.3
3,143.1
* The comparatives have been restated. See note 1.2. The non-current loan note receivable and other non-current assets primarily consists of a \u00a3220.0m (2025: \u00a3193.5m) loan note payable by Ovo Group Limited by 2029. The loan note carries interest of 13.25% and is presented cumulative of accrued interest repayments, discounted at 13.25%. On 11 May 2026, subsequent to the balance sheet date, E.On announced the acquisition of Ovo\u2019s Retail business, subject to regulatory approval. Completion of the acquisition would result in the principal and accumulated interest becoming repayable in full. While considered a non-adjusting post balance sheet event in terms of classification, the Group has considered the transaction as part of its recoverability assessment. No changes to the recoverable value were made following announcement of the transaction. Unbilled energy income represents an estimate of the value of electricity or gas supplied to customers between the date of the last meter reading and the year end. Detail of the calculation applied to estimate this balance is included at note 4.1(iii) . A 5% sensitivity on the unbilled energy accrual would equate to an increase or decrease in the receivable balance of \u00a313.1m (2025: \u00a314.6m). Cash posted as collateral includes amounts deposited on commodity trading exchanges of \u00a313.0m (2025: \u00a39.6m). Trade receivables and other financial assets are part of the Group\u2019s financial exposure to credit risk as explained in accompanying information note A6 .", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-753": { "value": "
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
Loan note receivable and other non-current assets
232.0
199.9
Other prepayments and accrued income
372.0
247.8
604.0
447.7
Current assets
Trade receivables
1,370.2
1,480.2
Unbilled energy income
547.2
521.1
Other receivables
148.1
56.2
Cash posted as collateral and other deposits
25.3
19.2
Other prepayments and accrued income
939.5
618.7
3,030.3
2,695.4
Total trade and other receivables
3,634.3
3,143.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-654": { "value": "
19. Trade and other payables
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
* The comparatives have been restated. See note 1.2.
(i) Current contract related liabilities includes customer contributions of \u00a319.3m (2025: \u00a315.1m) and non-current contract related liabilities includes customer contributions of \u00a3187.0m
(2025: \u00a3164.3m).
(ii) Non-current other accruals includes government grants of \u00a36.1m (2025: \u00a35.6m).
Cash held as collateral relates to amounts received from commodity trading exchanges of \u00a3271.3m (2025: \u00a382.5m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-778": { "value": "19. Trade and other payables
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
* The comparatives have been restated. See note 1.2. (i) Current contract related liabilities includes customer contributions of \u00a319.3m (2025: \u00a315.1m) and non-current contract related liabilities includes customer contributions of \u00a3187.0m (2025: \u00a3164.3m). (ii) Non-current other accruals includes government grants of \u00a36.1m (2025: \u00a35.6m). Cash held as collateral relates to amounts received from commodity trading exchanges of \u00a3271.3m (2025: \u00a382.5m).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-770": { "value": "19. Trade and other payables
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
* The comparatives have been restated. See note 1.2. (i) Current contract related liabilities includes customer contributions of \u00a319.3m (2025: \u00a315.1m) and non-current contract related liabilities includes customer contributions of \u00a3187.0m (2025: \u00a3164.3m). (ii) Non-current other accruals includes government grants of \u00a36.1m (2025: \u00a35.6m). Cash held as collateral relates to amounts received from commodity trading exchanges of \u00a3271.3m (2025: \u00a382.5m).", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-731": { "value": "19. Trade and other payables
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
* The comparatives have been restated. See note 1.2. (i) Current contract related liabilities includes customer contributions of \u00a319.3m (2025: \u00a315.1m) and non-current contract related liabilities includes customer contributions of \u00a3187.0m (2025: \u00a3164.3m). (ii) Non-current other accruals includes government grants of \u00a36.1m (2025: \u00a35.6m). Cash held as collateral relates to amounts received from commodity trading exchanges of \u00a3271.3m (2025: \u00a382.5m).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-696": { "value": "19. Trade and other payables
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
* The comparatives have been restated. See note 1.2. (i) Current contract related liabilities includes customer contributions of \u00a319.3m (2025: \u00a315.1m) and non-current contract related liabilities includes customer contributions of \u00a3187.0m (2025: \u00a3164.3m). (ii) Non-current other accruals includes government grants of \u00a36.1m (2025: \u00a35.6m). Cash held as collateral relates to amounts received from commodity trading exchanges of \u00a3271.3m (2025: \u00a382.5m).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-754": { "value": "
2025
2026 \u00a3m
\u00a3m (restated*)
Current liabilities
Trade payables
898.7
710.7
Contract related liabilities
(i)
158.0
127.9
Cash held as collateral
271.3
82.5
Other creditors
398.8
441.6
Deferred income and other accruals
(ii)
1,560.1
1,345.5
3,286.9
2,708.2
Non-current liabilities
Contract related liabilities
(i)
187.0
164.3
Deferred income, other creditors and accruals
(ii)
1,471.7
1,273.3
1,658.7
1,437.6
Total trade and other payables
4,945.6
4,145.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-655": { "value": "
20. Provisions
Legal and Employee
Decommissioning restructuring related Other Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 31 March 2024
735.7
0.4
12.8
16.2
765.1
Charged in the year
\u2013
2.4
6.5
10.9
19.8
Decrease in decommissioning provision
(25.5)
\u2013
\u2013
\u2013
(25.5)
Unwind of discount
27.2
\u2013
\u2013
\u2013
27.2
Released during the year
\u2013
\u2013
(3.5)
\u2013
(3.5)
Utilised during the year
(17.6)
(0.4)
(0.4)
(5.3)
(23.7)
Exchange rate adjustments
(2.8)
\u2013
\u2013
\u2013
(2.8)
At 31 March 2025
717.0
2.4
15.4
21.8
756.6
Charged in the year
\u2013
2.6
1.0
19.2
22.8
Decrease in decommissioning provision
(3.9)
\u2013
\u2013
\u2013
(3.9)
Unwind of discount
34.3
\u2013
\u2013
\u2013
34.3
Released during the year
\u2013
(2.4)
(0.4)
(1.0)
(3.8)
Utilised during the year
(14.6)
\u2013
(12.6)
(9.6)
(36.8)
Transfer to assets held for sale (note 12)
(1.3)
\u2013
\u2013
\u2013
(1.3)
Transfers
\u2013
\u2013
(1.5)
1.5
\u2013
Exchange rate adjustments
3.6
\u2013
\u2013
\u2013
3.6
At 31 March 2026
735.1
2.6
1.9
31.9
771.5
At 31 March 2026
Non-current
690.8
\u2013
1.7
19.4
711.9
Current
44.3
2.6
0.2
12.5
59.6
735.1
2.6
1.9
31.9
771.5
At 31 March 2025
Non-current
656.3
\u2013
8.9
10.9
676.1
Current
60.7
2.4
6.5
10.9
80.5
717.0
2.4
15.4
21.8
756.6
Decommissioning provisions
Provision has been made for the estimated net present value of decommissioning the Group\u2019s Thermal and Renewable power generation
assets, Gas Storage facilities and the 60% share of decommissioning liabilities of the Group\u2019s former Gas Production business. Cost estimates
are based on forecast remediation or clean-up costs based on current technology and prices for Renewable, Thermal and Gas Storage assets
and are reviewed by independent valuation experts every three years. In the intervening years, management update cost estimates based on
factors arising since the last formal valuation date. Retained decommissioning costs in relation to the disposed Gas Production business are
periodically agreed with the field operators. The cost estimates include a risk adjustment and are inflated to the projected decommissioning
date using a market observable inflation rate. This projection is discounted using a risk-free discount rate based on UK gilt rates with maturity
date similar to the expected decommissioning date.
There is a wide range of assumed decommissioning dates across the obligation due to the number of assets and their varying ages, which is
summarised in the table below. Decommissioning dates are based on the useful economic lives of the individual assets based on technology
and price forecasts at the balance sheet date. It is possible that the forecast decommissioning dates will change due to technology advances or
decisions to repower wind farms when the current turbines reach the end of their respective lives. The date of decommissioning of the Gas
Production business can vary based on hydrocarbon reserve estimates and market commodity prices, which can shorten or lengthen the
economic life of the field.
Value of Provision Number of Forecast Value of Provision Number of Forecast
31 March 2026 decommissioning decommissioning 31 March 2025 decommissioning decommissioning
Business Unit \u00a3m sites dates \u00a3m sites dates
Renewables
256.3
58
2026-2064
236.3
58
2026 \u2013 2064
Thermal
158.9
19
2026-2050
165.0
17
2025 \u2013 2050
Gas Storage
128.8
18
1
2026-2049
114.1
18\ue007
1
2025 \u2013 2049
Gas Production
191.1
4\ue009
2
2026-2044
201.6
4\ue007
2
2025 \u2013 2040
Total
735.1
717.0
1 The Group has two Gas Storage assets at Aldbrough and Atwick. In total there are 18 caverns with varying economic lives, therefore the number of sites has been disclosed to more
accurately reflect the scale and expected timing of decommissioning activities.
2 The Group has retained a 60% share of the decommissioning obligation for four Gas Production fields, though each field has multiple wells and shared infrastructure that the Group retains
an obligation to remediate.
The Group\u2019s total decommissioning provision has increased during the year from \u00a3717.0m to \u00a3735.1m. This movement primarily reflects the unwinding of the discount on the provision, which increases the carrying value over time as expected cash outflows move closer to settlement. This increase was partially offset by utilisation of the provision during the year as decommissioning activities were undertaken. In addition, updated assumptions on the expected scope and cost of future decommissioning activities impacted the provision. Risk free discount rates increased during the year 4.9%-5.5% (2025: 4.7%-5.2%) resulting in a reduction in the present value of the provision. In addition, the long term inflation rate increased to 3.4% (2025: 3.2%), increasing the estimated nominal future cash flows. Impact of climate change on the Group\u2019s decommissioning provisions The Group has assessed the impact of climate change on its decommissioning provisions. There is a physical risk that due to changes in weather patterns, the projected costs in relation to decommissioning could increase. The decommissioning provision included in the table above for these assets is based on a best estimate of the costs to be incurred at the balance sheet date. In the sensitivity analysis below, a scenario has been included assuming costs will increase and this takes account of the physical climate change risk. Sensitivity analysis Sensitivity analysis reflecting reasonably probable fluctuations to the main assumptions used in the calculation of the decommissioning provisions is set out below:
2026 2025
Estimated decommissioning provision including: \u00a3m \u00a3m
Increasing the projected cost estimate by 10%
808.5
775.3
Increasing the inflation rate by 1.0%
817.2
774.2
Decreasing the discount rate by 0.5%
772.5
736.4
Employee related provisions Employee related provisions include the Group\u2019s employer financed retirement benefit provision for certain directors and former directors and employees, which is valued in accordance with IAS 19 using assumptions consistent with the Scottish Hydro Electric Pension Scheme (see note 23 for assumptions applied). The Group Operating Model and Efficiency Review is now largely complete with \u00a34.7m of the provisions utilised in relation to redundancy costs. Other provisions Other provisions include onerous contract provisions, mutualisation obligations and other contractual obligations and are calculated based on a best estimate basis. The timing of settlement of these provisions varies by obligation between 2026 and 2035. ", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-697": { "value": "20. Provisions
Legal and Employee
Decommissioning restructuring related Other Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 31 March 2024
735.7
0.4
12.8
16.2
765.1
Charged in the year
\u2013
2.4
6.5
10.9
19.8
Decrease in decommissioning provision
(25.5)
\u2013
\u2013
\u2013
(25.5)
Unwind of discount
27.2
\u2013
\u2013
\u2013
27.2
Released during the year
\u2013
\u2013
(3.5)
\u2013
(3.5)
Utilised during the year
(17.6)
(0.4)
(0.4)
(5.3)
(23.7)
Exchange rate adjustments
(2.8)
\u2013
\u2013
\u2013
(2.8)
At 31 March 2025
717.0
2.4
15.4
21.8
756.6
Charged in the year
\u2013
2.6
1.0
19.2
22.8
Decrease in decommissioning provision
(3.9)
\u2013
\u2013
\u2013
(3.9)
Unwind of discount
34.3
\u2013
\u2013
\u2013
34.3
Released during the year
\u2013
(2.4)
(0.4)
(1.0)
(3.8)
Utilised during the year
(14.6)
\u2013
(12.6)
(9.6)
(36.8)
Transfer to assets held for sale (note 12)
(1.3)
\u2013
\u2013
\u2013
(1.3)
Transfers
\u2013
\u2013
(1.5)
1.5
\u2013
Exchange rate adjustments
3.6
\u2013
\u2013
\u2013
3.6
At 31 March 2026
735.1
2.6
1.9
31.9
771.5
At 31 March 2026
Non-current
690.8
\u2013
1.7
19.4
711.9
Current
44.3
2.6
0.2
12.5
59.6
735.1
2.6
1.9
31.9
771.5
At 31 March 2025
Non-current
656.3
\u2013
8.9
10.9
676.1
Current
60.7
2.4
6.5
10.9
80.5
717.0
2.4
15.4
21.8
756.6
Decommissioning provisions Provision has been made for the estimated net present value of decommissioning the Group\u2019s Thermal and Renewable power generation assets, Gas Storage facilities and the 60% share of decommissioning liabilities of the Group\u2019s former Gas Production business. Cost estimates are based on forecast remediation or clean-up costs based on current technology and prices for Renewable, Thermal and Gas Storage assets and are reviewed by independent valuation experts every three years. In the intervening years, management update cost estimates based on factors arising since the last formal valuation date. Retained decommissioning costs in relation to the disposed Gas Production business are periodically agreed with the field operators. The cost estimates include a risk adjustment and are inflated to the projected decommissioning date using a market observable inflation rate. This projection is discounted using a risk-free discount rate based on UK gilt rates with maturity date similar to the expected decommissioning date. There is a wide range of assumed decommissioning dates across the obligation due to the number of assets and their varying ages, which is summarised in the table below. Decommissioning dates are based on the useful economic lives of the individual assets based on technology and price forecasts at the balance sheet date. It is possible that the forecast decommissioning dates will change due to technology advances or decisions to repower wind farms when the current turbines reach the end of their respective lives. The date of decommissioning of the Gas Production business can vary based on hydrocarbon reserve estimates and market commodity prices, which can shorten or lengthen the economic life of the field.
Value of Provision Number of Forecast Value of Provision Number of Forecast
31 March 2026 decommissioning decommissioning 31 March 2025 decommissioning decommissioning
Business Unit \u00a3m sites dates \u00a3m sites dates
Renewables
256.3
58
2026-2064
236.3
58
2026 \u2013 2064
Thermal
158.9
19
2026-2050
165.0
17
2025 \u2013 2050
Gas Storage
128.8
18
1
2026-2049
114.1
18\ue007
1
2025 \u2013 2049
Gas Production
191.1
4\ue009
2
2026-2044
201.6
4\ue007
2
2025 \u2013 2040
Total
735.1
717.0
1 The Group has two Gas Storage assets at Aldbrough and Atwick. In total there are 18 caverns with varying economic lives, therefore the number of sites has been disclosed to more accurately reflect the scale and expected timing of decommissioning activities. 2 The Group has retained a 60% share of the decommissioning obligation for four Gas Production fields, though each field has multiple wells and shared infrastructure that the Group retains an obligation to remediate.
The Group\u2019s total decommissioning provision has increased during the year from \u00a3717.0m to \u00a3735.1m. This movement primarily reflects the
unwinding of the discount on the provision, which increases the carrying value over time as expected cash outflows move closer to settlement.
This increase was partially offset by utilisation of the provision during the year as decommissioning activities were undertaken. In addition,
updated assumptions on the expected scope and cost of future decommissioning activities impacted the provision. Risk free discount rates
increased during the year 4.9%-5.5% (2025: 4.7%-5.2%) resulting in a reduction in the present value of the provision. In addition, the long term
inflation rate increased to 3.4% (2025: 3.2%), increasing the estimated nominal future cash flows.
Impact of climate change on the Group\u2019s decommissioning provisions
The Group has assessed the impact of climate change on its decommissioning provisions. There is a physical risk that due to changes in
weather patterns, the projected costs in relation to decommissioning could increase. The decommissioning provision included in the table
above for these assets is based on a best estimate of the costs to be incurred at the balance sheet date. In the sensitivity analysis below, a
scenario has been included assuming costs will increase and this takes account of the physical climate change risk.
Sensitivity analysis
Sensitivity analysis reflecting reasonably probable fluctuations to the main assumptions used in the calculation of the decommissioning
provisions is set out below:
2026 2025
Estimated decommissioning provision including: \u00a3m \u00a3m
Increasing the projected cost estimate by 10%
808.5
775.3
Increasing the inflation rate by 1.0%
817.2
774.2
Decreasing the discount rate by 0.5%
772.5
736.4
Employee related provisions
Employee related provisions include the Group\u2019s employer financed retirement benefit provision for certain directors and former directors and
employees, which is valued in accordance with IAS 19 using assumptions consistent with the Scottish Hydro Electric Pension Scheme (see
note 23
for assumptions applied).
The Group Operating Model and Efficiency Review is now largely complete with \u00a34.7m of the provisions utilised in relation to redundancy costs.
Other provisions
Other provisions include onerous contract provisions, mutualisation obligations and other contractual obligations and are calculated based on a
best estimate basis. The timing of settlement of these provisions varies by obligation between 2026 and 2035.
25. Commitments and contingencies 25.1 Capital commitments
2026 2025
Capital expenditure \u00a3m \u00a3m
Contracted for but not provided
7,627.5
4,438.3
Contracted for but not provided capital commitments include the fixed contracted costs of the Group\u2019s major capital projects. In practice contractual variations may arise on the final settlement of these contractual costs. The increase from the prior year relates primarily to Transmission projects. 25.2 Contingent liabilities Contingent liabilities for the Group solely relate to SSE plc, and have been disclosed within note 13 to the Company financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-656": { "value": "
21. Sources of finance
21.1 Capital management
The Group\u2019s objective is to maintain a strong balance sheet and credit rating to support continued access to capital markets and fund its
investment programme, underpinning delivery of the Group\u2019s strategy and long term value creation. The Group monitors its capital structure
using key financial metrics including, Adjusted Net Debt and Hybrid Capital together with credit metrics consistent with those used by external
rating agencies.
At 31 March 2026, the Group\u2019s long term credit rating was BBB+ stable outlook for Standard and Poor\u2019s; Baa1 stable outlook for Moody\u2019s; and
BBB+ stable outlook with Fitch, which is now provided on a solicited basis.
The maintenance of a medium-term corporate model is a key control in monitoring the development of the Group\u2019s capital structure and
enables detailed scenario and sensitivity analysis. Key ratios derived from this analysis underpin regular reporting to the Board and include the
ratios used by the rating agencies in assessing the Group\u2019s credit ratings.
The Group\u2019s debt requirements are principally met through bond issuances in Sterling and Euros, private placements and medium-term bank
loans. Details of debt issued by the Group and maturity profile are included in note 21.3
. The Group\u2019s capital structure is supported by a range
of financial instruments, including bonds, private placements, hybrid capital, equity issuances and short-term funding through its commercial
paper programme. Under SSE plc\u2019s articles of association, the borrowings of the Company are limited so as to ensure that the aggregate
amount of all borrowings by the Group outstanding at any time is not more than three times the capital and reserves of the Group. SSE\u2019s
Adjusted Net Debt and Hybrid Capital remained stable at \u00a310.1bn at 31 March 2026 (2025: \u00a310.1bn (restated \u2013 see note 1.2
)).
The Group seeks to balance returns to shareholders through dividends and long-term capital investment for growth, while maintaining a
disciplined approach to capital management within the prevailing economic environment.
On 14 November 2025 the Group issued 97.9m ordinary shares at a placement price of \u00a320.50 per share, resulting in net proceeds of \u00a31,978.4m
(see note 22.1
).
At 31 March, the Group\u2019s capital is comprised of:
2025
2026 \u00a3m
\u00a3m (restated*)
Total borrowings (excluding lease obligations)
9,664.5
10,149.4
Less: Cash and cash equivalents
(1,542.9)
(1,090.5)
Net debt (excluding Hybrid equity)
8,121.6
9,058.9
Hybrid equity
2,985.8
1,882.4
Borrowings and cash attributable to non-controlling interests
(1,258.4)
(937.9)
Cash held and posted as collateral and other deposits
(i)
246.0
63.3
Adjusted Net Debt and Hybrid Capital APM
10,095.0
10,066.7
Equity attributable to shareholders of the parent
12,663.9
10,181.6
Total capital excluding lease obligations
22,758.9
20,248.3
* The comparatives have been restated. See note 1.2.
(i) At 31 March 2026 collateral and other deposits were a net liability of \u00a3246.0m (2025: \u00a363.3m net liability) consisting of net collateral liabilities of \u00a3258.3m (2025: \u00a372.9m net liability) and
other deposits with a maturity of more than three months of \u00a312.3m (2025: \u00a39.6m). The collateral movement in the current year is due to cash withdrawals from trading exchanges
following increases in the variation margin on \u201cin the money\u201d positions.
Adjusted Net Debt and Hybrid Capital is stated after removing lease obligations, external net debt attributable to non-controlling interests and
cash held and posted as collateral and other deposits with a maturity of more than three months in line with the Group\u2019s presentation basis
which is explained at note 3.1
. The adjustment related to the non-controlling interest share of Scottish Hydro Electric Transmission plc
external net debt and related SSE plc external debt is \u00a31,258.4m at 31 March 2026 (2025: \u00a3937.9m restated) and relates to 25% of external loans
of \u00a35,073.7m (2025: \u00a33,758.8m restated) net of cash and cash equivalents of \u00a340.2m (2025: \u00a37.3m). This adjustment was increased from
\u00a3817.9m to \u00a3937.9m at 31 March 2025, reflecting the change of definition referred to at note 3.1
.
21.2 Loans and other borrowings
2025
2026 \u00a3m
\u00a3m (restated*)
Current
Short term loans
1,124.6
1,895.5
Lease obligations
79.8
68.5
Non-current
1,204.4
1,964.0
Loans
8,539.9
8,253.9
Lease obligations
376.9
386.5
8,916.8
8,640.4
Total loans and borrowings
10,121.2
10,604.4
Cash and cash equivalents
(1,542.9)
(1,090.5)
Unadjusted net debt
8,578.3
9,513.9
Add/(less):
Hybrid equity
2,985.8
1,882.4
Borrowings and cash attributable to non-controlling interest holders
(1,258.4)
(937.9)
Lease obligations
(456.7)
(455.0)
Cash held and (posted) as collateral and other deposits
246.0
63.3
Adjusted Net Debt and Hybrid Capital APM
10,095.0
10,066.7
* The comparatives have been restated. See note 1.2.
21.3 Borrowing facilities
The Group maintains a diversified portfolio of funding sources, including committed bank facilities, bond issuances, a \u20ac1.5bn commercial paper
programme and private placements to support its liquidity requirements and investment programme. At 31 March 2026, \u00a3501.2m of the Group\u2019s
\u20ac1.5bn commercial paper programme was outstanding (2025: \u00a3890.5m).
At 31 March 2026, the Group had access to a total of \u00a35.0bn of committed facilities (2025: \u00a33.0bn), comprising revolving credit facilities and
other committed arrangements. During the year, Scottish Hydro Electric Transmission plc agreed \u00a32.0bn of new ECA and National Wealth Fund
guaranteed facilities. As at 31 March 2026 there were no drawings on the revolving credit facilities (2025: Scottish Hydro Electric Transmission
plc utilisation \u00a3340m and SSE plc utilisation \u00a3nil) or the new ECA and National Wealth Fund facilities.
The committed facilities are in place to ensure the Group has sufficient liquidity headroom when making significant capital investment. The
\u00a31.5bn revolving credit facility for SSE plc is in place to provide back-up to the commercial paper programme and support the Group\u2019s capital
expenditure plans. The \u00a33.5bn Scottish Hydro Electric Transmission plc facilities are in place to support the capital expenditure and working
capital during a period of significant capital growth for the business.
On 31 March 2026, SSE plc signed an additional commitment letter which allows SSE plc to enter a \u00a31.5bn committed facility between 31 March
2026 and 30 June 2026.
The revolving credit facilities include sustainability-linked features which may or may not adjust the interest margin applicable. The rate of
interest is calculated annually, subject to fulfilling certain ESG KPIs and applied prospectively. At 31 March 2026, these features had no impact on
the carrying value of the borrowings.
Under the terms of its revolving credit and private placement borrowing facilities, the Group is subject to the following financial covenants:
\u2013 Interest Cover Ratio: The Group shall procure that the ratio of Operating Profit to Net Interest Payable for any relevant period is not less than
2.5 to 1.
\u2013 Net debt to Regulatory Asset Value: Scottish Hydro Electric Transmission plc shall procure that the consolidated net debt to Regulatory
Asset Value does not at any time exceed 0.80 to 1.00 as assessed by their financial statements.
The Group and Scottish Hydro Electric Transmission plc complied with all covenants throughout the year.
During the year to 31 March 2026, SSE plc issued a total of \u00a31.6bn of new borrowings, including \u00a31.1bn of dual-tranche equity accounted hybrid
bonds (see note 22.5
) and \u00a30.5bn of commercial paper rolled at maturity. Scottish Hydro Electric Transmission plc issued a total of \u00a31.1bn of
new external debt instruments across four issuances. A total of \u00a32.2bn of instruments matured in the period, including \u00a31.0bn of SSE plc
Eurobonds, \u00a30.9bn of SSE plc commercial paper and \u00a30.3bn of Scottish Hydro Electric Transmission plc debt instruments.
On 7 April 2026, subsequent to the balance sheet date, SSE plc issued a \u20ac400m (\u00a3346m) two-year floating rate note.
Analysis of borrowings
2026
2026
2026
2026
2025
2025
2025
2025
Weighted Weighted
average Carrying average Carrying
interest Face value Fair value amount interest Face value Fair value amount
rate
(iv)
\u00a3m \u00a3m \u00a3m
rate
(iv)
\u00a3m \u00a3m \u00a3m
Current
Bank loans \u2013 non amortising
(i)
2.2%
300.0
296.6
300.0
\u2013
\u2013
\u2013
\u2013
Other Short term loans \u2013 non amortising
(ii)
2.4%
502.2
503.7
501.2
5.0%
901.7
906.6
890.5
1.250% Eurobond repayable 16 April 2025
\u2013
\u2013
\u2013
\u2013
1.3%
531.4
531.2
531.4
0.875% \u20ac600m Eurobond repayable 8 September 2025
(v)
\u2013
\u2013
\u2013
\u2013
0.9%
502.6
499.2
502.4
US Private Placement 8 June 2026
3.1%
64.0
64.4
64.0
\u2013
\u2013
\u2013
\u2013
US Private Placement 6 September 2026
3.2%
247.1
259.0
246.9
\u2013
\u2013
\u2013
\u2013
Within one year
1,113.3
1,123.7
1,112.1
1,935.7
1,937.0
1,924.3
Fair value adjustment
(iii)
12.5
(28.8)
Total current borrowings
1,113.3
1,123.7
1,124.6
1,935.7
1,937.0
1,895.5
Non-Current
Bank loans \u2013 non amortising
(i)
4.6%
450.0
460.0
450.0
3.5%
500.0
493.1
500.0
Other loans \u2013 non amortising
(ii)
\u2013
\u2013
\u2013
\u2013
4.8%
340.0
340.0
340.0
US Private Placement 8 June 2026
\u2013
\u2013
\u2013
\u2013
3.1%
64.0
63.0
63.8
US Private Placement 6 September 2026
\u2013
\u2013
\u2013
\u2013
3.2%
247.1
258.9
246.2
US Private Placement 6 September 2027
3.2%
35.0
34.0
34.9
3.2%
35.0
33.3
34.8
1.375% \u20ac650m Eurobond repayable 4 September 2027
(v) (vi)
1.4%
591.4
576.0
591.1
1.4%
591.4
573.7
590.9
1.50% Eurobond repayable 24 March 2028
(v)
1.5%
250.0
234.0
249.7
1.5%
250.0
227.5
249.5
8.375% Eurobond repayable on 20 November 2028
8.4%
500.0
538.7
498.9
8.4%
500.0
554.3
498.5
2.875% Eurobond repayable 1 August 2029
(v)
2.9%
567.6
560.0
566.8
2.9%
544.5
539.3
543.3
1.750% Eurobond repayable 16 April 2030
(v)
1.8%
442.9
413.9
442.9
\u2013
\u2013
\u2013
\u2013
Between two and five years
2,836.9
2,816.6
2,834.3
3,072.0
3,083.1
3,067.0
1.750% Eurobond repayable 16 April 2030
(vii)
\u2013
\u2013
\u2013
\u2013
1.8%
442.9
413.9
442.9
5.50% Eurobond repayable on 7 June 2032
5.5%
350.0
351.8
350.1
5.5%
350.0
353.1
350.1
Private Placement 30 June 2032
3.1%
175.0
154.6
175.0
3.1%
175.0
152.1
175.0
2.25% Eurobond repayable 27 September 2035
(v)
2.3%
350.0
262.1
348.0
2.3%
350.0
252.4
347.8
2.125% Eurobond repayable 24 March 2036
(v)
2.1%
250.0
180.2
248.8
2.1%
250.0
175.4
248.7
4.625% Eurobond repayable on 20 February 2037
4.6%
325.0
289.6
324.4
4.6%
325.0
288.5
324.3
Private Placement 30 June 2037
3.2%
175.0
136.7
175.0
3.2%
175.0
135.5
175.0
6.25% Eurobond repayable on 27 August 2038
6.3%
350.0
350.5
348.0
6.3%
350.0
350.7
347.9
4.454% Index linked loan repayable on 27 February 2044
4.5%
159.6
180.5
159.3
4.5%
164.7
186.4
164.3
1.429% Index linked bond repayable on 20 October 2056
1.4%
204.7
132.8
204.7
1.4%
195.5
134.3
195.5
4.00% \u20ac750m Eurobond repayable 5 September 2031
(v) (viii)
4.0%
655.0
664.5
653.7
4.0%
628.2
646.5
626.8
5.50% \u00a3500m Eurobond maturing 15 January 2044
(v)
5.5%
500.0
442.6
493.3
5.5%
500.0
448.3
493.0
3.375% \u20ac950m Eurobond repayable 4 September 2032
(v)(ix)
3.4%
802.0
782.7
800.5
3.4%
715.3
702.7
713.6
Private Placement 26 June 2034
4.7%
111.3
106.2
111.3
4.7%
111.3
107.8
111.3
Private Placement 19 July 2039
5.6%
30.0
28.4
30.0
5.6%
30.0
28.4
30.0
3.50% \u20ac600m Eurobond repayable 18 March 2032
(v)(x)
3.5%
524.0
516.2
521.4
3.5%
503.5
501.3
500.5
3.375% \u20ac750m Eurobond maturing 2 November 2033
(v)(xi)
3.4%
647.7
627.9
646.2
\u2013
\u2013
\u2013
\u2013
Private Placement 11 February 2036
5.0%
112.7
109.4
112.7
\u2013
\u2013
\u2013
\u2013
Over five years
5,722.0
5,316.7
5,702.4
5,266.4
4,877.3
5,246.7
Fair value adjustment
(iii)
3.2
(59.8)
Total non-current borrowings
8,558.9
8,133.3
8,539.9
8,338.4
7,960.4
8,253.9
Total borrowings
9,672.2
9,257.0
9,664.5
10,274.1
9,897.4
10,149.4
Note: The Sterling-equivalent fair value reflects the fair value of non-Sterling denominated borrowings, post the impact of the hedges noted below.
(i) Balances include term loans and EIB debt and is a mixture of fixed and floating rate debt.
(ii) Balances include Commercial Paper and facility advances (\u00a3501.2m of Commercial Paper). At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its \u00a31.5bn
revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph
75A. The debt was repaid in April 2025, subsequent to the balance sheet date.
(iii) The fair value adjustment relates to the change in the carrying amount of the borrowings as a result of fair value hedges that are in place. The movement in the fair value adjustment is
recognised in the income statement with a corresponding movement on the hedging instrument also being recognised in the income statement.
(iv) The weighted average interest rates (including the effect of interest rate swaps) for the year ended 31 March 2026 was 3.79% (2025: 3.85%).
(v) Bonds have been issued under the Group\u2019s Sustainability Financing Framework (previously the Group\u2019s Green Bond Framework).
(vi) The 1.375% \u20ac650m Eurobond maturing 4 September 2027 has been swapped to Sterling giving an effective interest rate of 2.56%.
(vii) The 1.750% \u20ac500m Eurobond maturing 16 April 2030 has been swapped to Sterling giving an effective interest rate of 2.89%.
(viii) The 4.0% \u20ac750m Eurobond maturing 5 September 2031 has been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries.
(ix) The 3.375% \u20ac950m Eurobond maturing 4 September 2032 has been swapped to Sterling giving an effective interest rate of 4.91%.
(x) The 3.50% \u20ac600m Eurobond maturing 18 March 2032 has predominantly been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries.
(xi) The 3.375% \u20ac750m Eurobond maturin
g
2 November 2033 has been swapped to Sterlin
g
g
ivin
g
an effective interest rate of 5.20%.
Lease liabilities Amounts charged under lease arrangements are detailed within note 6 , and right of use assets recognised under lease arrangements are detailed within note 14 .
2026 2025
\u00a3m \u00a3m
At 1 April
455.0
407.5
Additions during the year
74.9
139.8
Disposals during the year
(8.9)
(12.3)
Unwind of discount
24.1
26.9
Repayment in the year
(86.9)
(106.9)
Transferred to liabilities held for sale
(1.5)
\u2013
At 31 March
456.7
455.0
The weighted average incremental borrowing rate applied to lease liabilities during the year was 5.12% (2025: 4.95%). Incremental borrowing rates applied to individual lease additions in the year ranged between 3.75% to 7.34% (2025: 3.85% to 7.46%). The Group has additional committed payments under short term and low value leases at 31 March 2026 of \u00a314.0m (2025: \u00a314.3m). The maturity of future lease liabilities are as follows:
2026 2025
\u00a3m \u00a3m
Within one year
86.8
75.2
Between one and five years
223.2
233.5
After five years
390.1
403.2
700.1
711.9
Less: future finance charge
(243.4)
(256.9)
Present value of lease obligations
456.7
455.0
21.4 Reconciliation of net increase in cash and cash equivalents to movement in Adjusted Net Debt and Hybrid Capital
2025
2026 \u00a3m
\u00a3m (restated*)
Increase in cash and cash equivalents
452.4
54.6
(Less)/add:
New borrowing proceeds
(1,595.3)
(2,592.2)
New Hybrid equity proceeds
(1,103.4)
\u2013
Repayment of borrowings
2,294.2
1,055.3
Non-cash movement on borrowings
(214.0)
113.7
Increase in borrowings and cash attributable to non-controlling interest holders
320.5
252.7
(Increase)/decrease in cash held and posted as collateral and other deposits
(182.7)
289.9
Increase in Adjusted Net Debt and Hybrid Capital APM
(28.3)
(826.0)
* The comparatives have been restated. See note 1.2. Cash held and posted as collateral refers to amounts received and deposited on commodity trading exchanges which are reported within \u201cTrade and other payables\u201d and \u201cTrade and other receivables\u201d respectively on the face of the balance sheet, as well as other deposits with a maturity of more than 3 months.
21.5 Reconciliation of movements in financing liabilities
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2025 borrowings borrowings creditor movements movements liabilities classification Other 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
500.0
250.0
\u2013
\u2013
\u2013
\u2013
\u2013
(300.0)
\u2013
450.0
Private placement
852.2
112.7
\u2013
\u2013
(9.5)
\u2013
\u2013
(310.0)
0.1
645.5
Fixed rate Eurobonds
6,201.9
734.4
\u2013
\u2013
72.5
70.3
\u2013
\u2013
1.4
7,080.5
Index linked loans
359.8
\u2013
(11.2)
\u2013
\u2013
\u2013
\u2013
\u2013
15.3
363.9
Other loans \u2013 non
amortising
340.0
\u2013
(340.0)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Total long term borrowings
8,253.9
1,097.1
(351.2)
\u2013
63.0
70.3
\u2013
(610.0)
16.8
8,539.9
Bank loans
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
300.0
\u2013
300.0
Fixed rate Eurobonds
1,005.0
\u2013
(1,052.5)
\u2013
28.8
18.6
\u2013
\u2013
0.1
\u2013
Other short term loans \u2013
non amortising
890.5
498.2
(890.5)
\u2013
\u2013
3.0
\u2013
\u2013
\u2013
501.2
US private placement
\u2013
\u2013
\u2013
\u2013
12.5
\u2013
\u2013
310.0
0.9
323.4
Total short term borrowings
1,895.5
498.2
(1,943.0)
\u2013
41.3
21.6
\u2013
610.0
1.0
1,124.6
10,149.4
1,595.3
(2,294.2)
\u2013
104.3
91.9
\u2013
\u2013
17.8
9,664.5
Lease liabilities
455.0
\u2013
\u2013
(86.9)
\u2013
\u2013
88.6
\u2013
\u2013
456.7
Total loans and borrowings
10,604.4
1,595.3
(2,294.2)
(86.9)
104.3
91.9
88.6
\u2013
17.8
10,121.2
Assets held to hedge long
term borrowings
48.2
\u2013
\u2013
\u2013
(122.1)
\u2013
\u2013
\u2013
\u2013
(73.9)
10,652.6
1,595.3
(2,294.2)
(86.9)
(17.8)
91.9
88.6
\u2013
17.8
10,047.3
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2024 borrowings borrowings creditor movements movements liabilities classification Other 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
499.9
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
0.1
500.0
Private placement
770.2
141.3
\u2013
\u2013
(60.2)
\u2013
\u2013
\u2013
0.9
852.2
Fixed rate Eurobonds
6,059.7
1,220.4
\u2013
\u2013
(4.8)
(25.7)
\u2013
(1,043.6)
(4.1)
6,201.9
Index linked loans
357.8
\u2013
(10.8)
\u2013
\u2013
\u2013
\u2013
\u2013
12.8
359.8
Other loans \u2013 non amortising
\u2013
340.0
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
340.0
Total long term borrowings
7,687.6
1,701.7
(10.8)
\u2013
(65.0)
(25.7)
\u2013
(1,043.6)
9.7
8,253.9
Fixed rate Eurobonds
\u2013
\u2013
\u2013
\u2013
(30.4)
(10.4)
\u2013
1,043.6
2.2
1,005.0
Other short term loans \u2013 non
amortising
840.4
890.5
(840.4)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
890.5
US private placement
198.2
\u2013
(204.1)
\u2013
5.9
\u2013
\u2013
\u2013
\u2013
\u2013
Total short term borrowings
1,038.6
890.5
(1,044.5)
\u2013
(24.5)
(10.4)
\u2013
1,043.6
2.2
1,895.5
8,726.2
2,592.2
(1,055.3)
\u2013
(89.5)
(36.1)
\u2013
\u2013
11.9
10,149.4
Lease liabilities
407.5
\u2013
\u2013
(106.9)
\u2013
\u2013
154.4
\u2013
\u2013
455.0
Total loans and borrowings
9,133.7
2,592.2
(1,055.3)
(106.9)
(89.5)
(36.1)
154.4
\u2013
11.9
10,604.4
Assets held to hedge long
term borrowings
18.5
\u2013
\u2013
\u2013
29.7
\u2013
\u2013
\u2013
\u2013
48.2
9,152.2
2,592.2
(1,055.3)
(106.9)
(59.8)
(36.1)
154.4
\u2013
11.9
10,652.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-732": { "value": "21. Sources of finance 21.1 Capital management The Group\u2019s objective is to maintain a strong balance sheet and credit rating to support continued access to capital markets and fund its investment programme, underpinning delivery of the Group\u2019s strategy and long term value creation. The Group monitors its capital structure using key financial metrics including, Adjusted Net Debt and Hybrid Capital together with credit metrics consistent with those used by external rating agencies. At 31 March 2026, the Group\u2019s long term credit rating was BBB+ stable outlook for Standard and Poor\u2019s; Baa1 stable outlook for Moody\u2019s; and BBB+ stable outlook with Fitch, which is now provided on a solicited basis. The maintenance of a medium-term corporate model is a key control in monitoring the development of the Group\u2019s capital structure and enables detailed scenario and sensitivity analysis. Key ratios derived from this analysis underpin regular reporting to the Board and include the ratios used by the rating agencies in assessing the Group\u2019s credit ratings. The Group\u2019s debt requirements are principally met through bond issuances in Sterling and Euros, private placements and medium-term bank loans. Details of debt issued by the Group and maturity profile are included in note 21.3 . The Group\u2019s capital structure is supported by a range of financial instruments, including bonds, private placements, hybrid capital, equity issuances and short-term funding through its commercial paper programme. Under SSE plc\u2019s articles of association, the borrowings of the Company are limited so as to ensure that the aggregate amount of all borrowings by the Group outstanding at any time is not more than three times the capital and reserves of the Group. SSE\u2019s Adjusted Net Debt and Hybrid Capital remained stable at \u00a310.1bn at 31 March 2026 (2025: \u00a310.1bn (restated \u2013 see note 1.2 )). The Group seeks to balance returns to shareholders through dividends and long-term capital investment for growth, while maintaining a disciplined approach to capital management within the prevailing economic environment. On 14 November 2025 the Group issued 97.9m ordinary shares at a placement price of \u00a320.50 per share, resulting in net proceeds of \u00a31,978.4m (see note 22.1 ). At 31 March, the Group\u2019s capital is comprised of:
2025
2026 \u00a3m
\u00a3m (restated*)
Total borrowings (excluding lease obligations)
9,664.5
10,149.4
Less: Cash and cash equivalents
(1,542.9)
(1,090.5)
Net debt (excluding Hybrid equity)
8,121.6
9,058.9
Hybrid equity
2,985.8
1,882.4
Borrowings and cash attributable to non-controlling interests
(1,258.4)
(937.9)
Cash held and posted as collateral and other deposits
(i)
246.0
63.3
Adjusted Net Debt and Hybrid Capital APM
10,095.0
10,066.7
Equity attributable to shareholders of the parent
12,663.9
10,181.6
Total capital excluding lease obligations
22,758.9
20,248.3
* The comparatives have been restated. See note 1.2. (i) At 31 March 2026 collateral and other deposits were a net liability of \u00a3246.0m (2025: \u00a363.3m net liability) consisting of net collateral liabilities of \u00a3258.3m (2025: \u00a372.9m net liability) and other deposits with a maturity of more than three months of \u00a312.3m (2025: \u00a39.6m). The collateral movement in the current year is due to cash withdrawals from trading exchanges following increases in the variation margin on \u201cin the money\u201d positions. Adjusted Net Debt and Hybrid Capital is stated after removing lease obligations, external net debt attributable to non-controlling interests and cash held and posted as collateral and other deposits with a maturity of more than three months in line with the Group\u2019s presentation basis which is explained at note 3.1 . The adjustment related to the non-controlling interest share of Scottish Hydro Electric Transmission plc external net debt and related SSE plc external debt is \u00a31,258.4m at 31 March 2026 (2025: \u00a3937.9m restated) and relates to 25% of external loans of \u00a35,073.7m (2025: \u00a33,758.8m restated) net of cash and cash equivalents of \u00a340.2m (2025: \u00a37.3m). This adjustment was increased from \u00a3817.9m to \u00a3937.9m at 31 March 2025, reflecting the change of definition referred to at note 3.1 . 21.2 Loans and other borrowings
2025
2026 \u00a3m
\u00a3m (restated*)
Current
Short term loans
1,124.6
1,895.5
Lease obligations
79.8
68.5
Non-current
1,204.4
1,964.0
Loans
8,539.9
8,253.9
Lease obligations
376.9
386.5
8,916.8
8,640.4
Total loans and borrowings
10,121.2
10,604.4
Cash and cash equivalents
(1,542.9)
(1,090.5)
Unadjusted net debt
8,578.3
9,513.9
Add/(less):
Hybrid equity
2,985.8
1,882.4
Borrowings and cash attributable to non-controlling interest holders
(1,258.4)
(937.9)
Lease obligations
(456.7)
(455.0)
Cash held and (posted) as collateral and other deposits
246.0
63.3
Adjusted Net Debt and Hybrid Capital APM
10,095.0
10,066.7
* The comparatives have been restated. See note 1.2. 21.3 Borrowing facilities The Group maintains a diversified portfolio of funding sources, including committed bank facilities, bond issuances, a \u20ac1.5bn commercial paper programme and private placements to support its liquidity requirements and investment programme. At 31 March 2026, \u00a3501.2m of the Group\u2019s \u20ac1.5bn commercial paper programme was outstanding (2025: \u00a3890.5m). At 31 March 2026, the Group had access to a total of \u00a35.0bn of committed facilities (2025: \u00a33.0bn), comprising revolving credit facilities and other committed arrangements. During the year, Scottish Hydro Electric Transmission plc agreed \u00a32.0bn of new ECA and National Wealth Fund guaranteed facilities. As at 31 March 2026 there were no drawings on the revolving credit facilities (2025: Scottish Hydro Electric Transmission plc utilisation \u00a3340m and SSE plc utilisation \u00a3nil) or the new ECA and National Wealth Fund facilities. The committed facilities are in place to ensure the Group has sufficient liquidity headroom when making significant capital investment. The \u00a31.5bn revolving credit facility for SSE plc is in place to provide back-up to the commercial paper programme and support the Group\u2019s capital expenditure plans. The \u00a33.5bn Scottish Hydro Electric Transmission plc facilities are in place to support the capital expenditure and working capital during a period of significant capital growth for the business. On 31 March 2026, SSE plc signed an additional commitment letter which allows SSE plc to enter a \u00a31.5bn committed facility between 31 March 2026 and 30 June 2026. The revolving credit facilities include sustainability-linked features which may or may not adjust the interest margin applicable. The rate of interest is calculated annually, subject to fulfilling certain ESG KPIs and applied prospectively. At 31 March 2026, these features had no impact on the carrying value of the borrowings. Under the terms of its revolving credit and private placement borrowing facilities, the Group is subject to the following financial covenants: \u2013 Interest Cover Ratio: The Group shall procure that the ratio of Operating Profit to Net Interest Payable for any relevant period is not less than 2.5 to 1. \u2013 Net debt to Regulatory Asset Value: Scottish Hydro Electric Transmission plc shall procure that the consolidated net debt to Regulatory Asset Value does not at any time exceed 0.80 to 1.00 as assessed by their financial statements. The Group and Scottish Hydro Electric Transmission plc complied with all covenants throughout the year. During the year to 31 March 2026, SSE plc issued a total of \u00a31.6bn of new borrowings, including \u00a31.1bn of dual-tranche equity accounted hybrid bonds (see note 22.5 ) and \u00a30.5bn of commercial paper rolled at maturity. Scottish Hydro Electric Transmission plc issued a total of \u00a31.1bn of new external debt instruments across four issuances. A total of \u00a32.2bn of instruments matured in the period, including \u00a31.0bn of SSE plc Eurobonds, \u00a30.9bn of SSE plc commercial paper and \u00a30.3bn of Scottish Hydro Electric Transmission plc debt instruments. On 7 April 2026, subsequent to the balance sheet date, SSE plc issued a \u20ac400m (\u00a3346m) two-year floating rate note. Analysis of borrowings
2026
2026
2026
2026
2025
2025
2025
2025
Weighted Weighted
average Carrying average Carrying
interest Face value Fair value amount interest Face value Fair value amount
rate
(iv)
\u00a3m \u00a3m \u00a3m
rate
(iv)
\u00a3m \u00a3m \u00a3m
Current
Bank loans \u2013 non amortising
(i)
2.2%
300.0
296.6
300.0
\u2013
\u2013
\u2013
\u2013
Other Short term loans \u2013 non amortising
(ii)
2.4%
502.2
503.7
501.2
5.0%
901.7
906.6
890.5
1.250% Eurobond repayable 16 April 2025
\u2013
\u2013
\u2013
\u2013
1.3%
531.4
531.2
531.4
0.875% \u20ac600m Eurobond repayable 8 September 2025
(v)
\u2013
\u2013
\u2013
\u2013
0.9%
502.6
499.2
502.4
US Private Placement 8 June 2026
3.1%
64.0
64.4
64.0
\u2013
\u2013
\u2013
\u2013
US Private Placement 6 September 2026
3.2%
247.1
259.0
246.9
\u2013
\u2013
\u2013
\u2013
Within one year
1,113.3
1,123.7
1,112.1
1,935.7
1,937.0
1,924.3
Fair value adjustment
(iii)
12.5
(28.8)
Total current borrowings
1,113.3
1,123.7
1,124.6
1,935.7
1,937.0
1,895.5
Non-Current
Bank loans \u2013 non amortising
(i)
4.6%
450.0
460.0
450.0
3.5%
500.0
493.1
500.0
Other loans \u2013 non amortising
(ii)
\u2013
\u2013
\u2013
\u2013
4.8%
340.0
340.0
340.0
US Private Placement 8 June 2026
\u2013
\u2013
\u2013
\u2013
3.1%
64.0
63.0
63.8
US Private Placement 6 September 2026
\u2013
\u2013
\u2013
\u2013
3.2%
247.1
258.9
246.2
US Private Placement 6 September 2027
3.2%
35.0
34.0
34.9
3.2%
35.0
33.3
34.8
1.375% \u20ac650m Eurobond repayable 4 September 2027
(v) (vi)
1.4%
591.4
576.0
591.1
1.4%
591.4
573.7
590.9
1.50% Eurobond repayable 24 March 2028
(v)
1.5%
250.0
234.0
249.7
1.5%
250.0
227.5
249.5
8.375% Eurobond repayable on 20 November 2028
8.4%
500.0
538.7
498.9
8.4%
500.0
554.3
498.5
2.875% Eurobond repayable 1 August 2029
(v)
2.9%
567.6
560.0
566.8
2.9%
544.5
539.3
543.3
1.750% Eurobond repayable 16 April 2030
(v)
1.8%
442.9
413.9
442.9
\u2013
\u2013
\u2013
\u2013
Between two and five years
2,836.9
2,816.6
2,834.3
3,072.0
3,083.1
3,067.0
1.750% Eurobond repayable 16 April 2030
(vii)
\u2013
\u2013
\u2013
\u2013
1.8%
442.9
413.9
442.9
5.50% Eurobond repayable on 7 June 2032
5.5%
350.0
351.8
350.1
5.5%
350.0
353.1
350.1
Private Placement 30 June 2032
3.1%
175.0
154.6
175.0
3.1%
175.0
152.1
175.0
2.25% Eurobond repayable 27 September 2035
(v)
2.3%
350.0
262.1
348.0
2.3%
350.0
252.4
347.8
2.125% Eurobond repayable 24 March 2036
(v)
2.1%
250.0
180.2
248.8
2.1%
250.0
175.4
248.7
4.625% Eurobond repayable on 20 February 2037
4.6%
325.0
289.6
324.4
4.6%
325.0
288.5
324.3
Private Placement 30 June 2037
3.2%
175.0
136.7
175.0
3.2%
175.0
135.5
175.0
6.25% Eurobond repayable on 27 August 2038
6.3%
350.0
350.5
348.0
6.3%
350.0
350.7
347.9
4.454% Index linked loan repayable on 27 February 2044
4.5%
159.6
180.5
159.3
4.5%
164.7
186.4
164.3
1.429% Index linked bond repayable on 20 October 2056
1.4%
204.7
132.8
204.7
1.4%
195.5
134.3
195.5
4.00% \u20ac750m Eurobond repayable 5 September 2031
(v) (viii)
4.0%
655.0
664.5
653.7
4.0%
628.2
646.5
626.8
5.50% \u00a3500m Eurobond maturing 15 January 2044
(v)
5.5%
500.0
442.6
493.3
5.5%
500.0
448.3
493.0
3.375% \u20ac950m Eurobond repayable 4 September 2032
(v)(ix)
3.4%
802.0
782.7
800.5
3.4%
715.3
702.7
713.6
Private Placement 26 June 2034
4.7%
111.3
106.2
111.3
4.7%
111.3
107.8
111.3
Private Placement 19 July 2039
5.6%
30.0
28.4
30.0
5.6%
30.0
28.4
30.0
3.50% \u20ac600m Eurobond repayable 18 March 2032
(v)(x)
3.5%
524.0
516.2
521.4
3.5%
503.5
501.3
500.5
3.375% \u20ac750m Eurobond maturing 2 November 2033
(v)(xi)
3.4%
647.7
627.9
646.2
\u2013
\u2013
\u2013
\u2013
Private Placement 11 February 2036
5.0%
112.7
109.4
112.7
\u2013
\u2013
\u2013
\u2013
Over five years
5,722.0
5,316.7
5,702.4
5,266.4
4,877.3
5,246.7
Fair value adjustment
(iii)
3.2
(59.8)
Total non-current borrowings
8,558.9
8,133.3
8,539.9
8,338.4
7,960.4
8,253.9
Total borrowings
9,672.2
9,257.0
9,664.5
10,274.1
9,897.4
10,149.4
Note: The Sterling-equivalent fair value reflects the fair value of non-Sterling denominated borrowings, post the impact of the hedges noted below. (i) Balances include term loans and EIB debt and is a mixture of fixed and floating rate debt. (ii) Balances include Commercial Paper and facility advances (\u00a3501.2m of Commercial Paper). At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its \u00a31.5bn revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date. (iii) The fair value adjustment relates to the change in the carrying amount of the borrowings as a result of fair value hedges that are in place. The movement in the fair value adjustment is recognised in the income statement with a corresponding movement on the hedging instrument also being recognised in the income statement. (iv) The weighted average interest rates (including the effect of interest rate swaps) for the year ended 31 March 2026 was 3.79% (2025: 3.85%). (v) Bonds have been issued under the Group\u2019s Sustainability Financing Framework (previously the Group\u2019s Green Bond Framework). (vi) The 1.375% \u20ac650m Eurobond maturing 4 September 2027 has been swapped to Sterling giving an effective interest rate of 2.56%. (vii) The 1.750% \u20ac500m Eurobond maturing 16 April 2030 has been swapped to Sterling giving an effective interest rate of 2.89%. (viii) The 4.0% \u20ac750m Eurobond maturing 5 September 2031 has been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries. (ix) The 3.375% \u20ac950m Eurobond maturing 4 September 2032 has been swapped to Sterling giving an effective interest rate of 4.91%. (x) The 3.50% \u20ac600m Eurobond maturing 18 March 2032 has predominantly been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries. (xi) The 3.375% \u20ac750m Eurobond maturin g 2 November 2033 has been swapped to Sterlin gg ivin g an effective interest rate of 5.20%. Lease liabilities Amounts charged under lease arrangements are detailed within note 6 , and right of use assets recognised under lease arrangements are detailed within note 14 .
2026 2025
\u00a3m \u00a3m
At 1 April
455.0
407.5
Additions during the year
74.9
139.8
Disposals during the year
(8.9)
(12.3)
Unwind of discount
24.1
26.9
Repayment in the year
(86.9)
(106.9)
Transferred to liabilities held for sale
(1.5)
\u2013
At 31 March
456.7
455.0
The weighted average incremental borrowing rate applied to lease liabilities during the year was 5.12% (2025: 4.95%). Incremental borrowing rates applied to individual lease additions in the year ranged between 3.75% to 7.34% (2025: 3.85% to 7.46%). The Group has additional committed payments under short term and low value leases at 31 March 2026 of \u00a314.0m (2025: \u00a314.3m). The maturity of future lease liabilities are as follows:
2026 2025
\u00a3m \u00a3m
Within one year
86.8
75.2
Between one and five years
223.2
233.5
After five years
390.1
403.2
700.1
711.9
Less: future finance charge
(243.4)
(256.9)
Present value of lease obligations
456.7
455.0
21.4 Reconciliation of net increase in cash and cash equivalents to movement in Adjusted Net Debt and Hybrid Capital
2025
2026 \u00a3m
\u00a3m (restated*)
Increase in cash and cash equivalents
452.4
54.6
(Less)/add:
New borrowing proceeds
(1,595.3)
(2,592.2)
New Hybrid equity proceeds
(1,103.4)
\u2013
Repayment of borrowings
2,294.2
1,055.3
Non-cash movement on borrowings
(214.0)
113.7
Increase in borrowings and cash attributable to non-controlling interest holders
320.5
252.7
(Increase)/decrease in cash held and posted as collateral and other deposits
(182.7)
289.9
Increase in Adjusted Net Debt and Hybrid Capital APM
(28.3)
(826.0)
* The comparatives have been restated. See note 1.2. Cash held and posted as collateral refers to amounts received and deposited on commodity trading exchanges which are reported within \u201cTrade and other payables\u201d and \u201cTrade and other receivables\u201d respectively on the face of the balance sheet, as well as other deposits with a maturity of more than 3 months. 21.5 Reconciliation of movements in financing liabilities
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2025 borrowings borrowings creditor movements movements liabilities classification Other 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
500.0
250.0
\u2013
\u2013
\u2013
\u2013
\u2013
(300.0)
\u2013
450.0
Private placement
852.2
112.7
\u2013
\u2013
(9.5)
\u2013
\u2013
(310.0)
0.1
645.5
Fixed rate Eurobonds
6,201.9
734.4
\u2013
\u2013
72.5
70.3
\u2013
\u2013
1.4
7,080.5
Index linked loans
359.8
\u2013
(11.2)
\u2013
\u2013
\u2013
\u2013
\u2013
15.3
363.9
Other loans \u2013 non
amortising
340.0
\u2013
(340.0)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Total long term borrowings
8,253.9
1,097.1
(351.2)
\u2013
63.0
70.3
\u2013
(610.0)
16.8
8,539.9
Bank loans
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
300.0
\u2013
300.0
Fixed rate Eurobonds
1,005.0
\u2013
(1,052.5)
\u2013
28.8
18.6
\u2013
\u2013
0.1
\u2013
Other short term loans \u2013
non amortising
890.5
498.2
(890.5)
\u2013
\u2013
3.0
\u2013
\u2013
\u2013
501.2
US private placement
\u2013
\u2013
\u2013
\u2013
12.5
\u2013
\u2013
310.0
0.9
323.4
Total short term borrowings
1,895.5
498.2
(1,943.0)
\u2013
41.3
21.6
\u2013
610.0
1.0
1,124.6
10,149.4
1,595.3
(2,294.2)
\u2013
104.3
91.9
\u2013
\u2013
17.8
9,664.5
Lease liabilities
455.0
\u2013
\u2013
(86.9)
\u2013
\u2013
88.6
\u2013
\u2013
456.7
Total loans and borrowings
10,604.4
1,595.3
(2,294.2)
(86.9)
104.3
91.9
88.6
\u2013
17.8
10,121.2
Assets held to hedge long
term borrowings
48.2
\u2013
\u2013
\u2013
(122.1)
\u2013
\u2013
\u2013
\u2013
(73.9)
10,652.6
1,595.3
(2,294.2)
(86.9)
(17.8)
91.9
88.6
\u2013
17.8
10,047.3
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2024 borrowings borrowings creditor movements movements liabilities classification Other 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
499.9
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
0.1
500.0
Private placement
770.2
141.3
\u2013
\u2013
(60.2)
\u2013
\u2013
\u2013
0.9
852.2
Fixed rate Eurobonds
6,059.7
1,220.4
\u2013
\u2013
(4.8)
(25.7)
\u2013
(1,043.6)
(4.1)
6,201.9
Index linked loans
357.8
\u2013
(10.8)
\u2013
\u2013
\u2013
\u2013
\u2013
12.8
359.8
Other loans \u2013 non amortising
\u2013
340.0
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
340.0
Total long term borrowings
7,687.6
1,701.7
(10.8)
\u2013
(65.0)
(25.7)
\u2013
(1,043.6)
9.7
8,253.9
Fixed rate Eurobonds
\u2013
\u2013
\u2013
\u2013
(30.4)
(10.4)
\u2013
1,043.6
2.2
1,005.0
Other short term loans \u2013 non
amortising
840.4
890.5
(840.4)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
890.5
US private placement
198.2
\u2013
(204.1)
\u2013
5.9
\u2013
\u2013
\u2013
\u2013
\u2013
Total short term borrowings
1,038.6
890.5
(1,044.5)
\u2013
(24.5)
(10.4)
\u2013
1,043.6
2.2
1,895.5
8,726.2
2,592.2
(1,055.3)
\u2013
(89.5)
(36.1)
\u2013
\u2013
11.9
10,149.4
Lease liabilities
407.5
\u2013
\u2013
(106.9)
\u2013
\u2013
154.4
\u2013
\u2013
455.0
Total loans and borrowings
9,133.7
2,592.2
(1,055.3)
(106.9)
(89.5)
(36.1)
154.4
\u2013
11.9
10,604.4
Assets held to hedge long
term borrowings
18.5
\u2013
\u2013
\u2013
29.7
\u2013
\u2013
\u2013
\u2013
48.2
9,152.2
2,592.2
(1,055.3)
(106.9)
(59.8)
(36.1)
154.4
\u2013
11.9
10,652.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-755": { "value": "21.1 Capital management The Group\u2019s objective is to maintain a strong balance sheet and credit rating to support continued access to capital markets and fund its investment programme, underpinning delivery of the Group\u2019s strategy and long term value creation. The Group monitors its capital structure using key financial metrics including, Adjusted Net Debt and Hybrid Capital together with credit metrics consistent with those used by external rating agencies. At 31 March 2026, the Group\u2019s long term credit rating was BBB+ stable outlook for Standard and Poor\u2019s; Baa1 stable outlook for Moody\u2019s; and BBB+ stable outlook with Fitch, which is now provided on a solicited basis. The maintenance of a medium-term corporate model is a key control in monitoring the development of the Group\u2019s capital structure and enables detailed scenario and sensitivity analysis. Key ratios derived from this analysis underpin regular reporting to the Board and include the ratios used by the rating agencies in assessing the Group\u2019s credit ratings. The Group\u2019s debt requirements are principally met through bond issuances in Sterling and Euros, private placements and medium-term bank loans. Details of debt issued by the Group and maturity profile are included in note 21.3 . The Group\u2019s capital structure is supported by a range of financial instruments, including bonds, private placements, hybrid capital, equity issuances and short-term funding through its commercial paper programme. Under SSE plc\u2019s articles of association, the borrowings of the Company are limited so as to ensure that the aggregate amount of all borrowings by the Group outstanding at any time is not more than three times the capital and reserves of the Group. SSE\u2019s Adjusted Net Debt and Hybrid Capital remained stable at \u00a310.1bn at 31 March 2026 (2025: \u00a310.1bn (restated \u2013 see note 1.2 )). The Group seeks to balance returns to shareholders through dividends and long-term capital investment for growth, while maintaining a disciplined approach to capital management within the prevailing economic environment. On 14 November 2025 the Group issued 97.9m ordinary shares at a placement price of \u00a320.50 per share, resulting in net proceeds of \u00a31,978.4m (see note 22.1 ). At 31 March, the Group\u2019s capital is comprised of:
2025
2026 \u00a3m
\u00a3m (restated*)
Total borrowings (excluding lease obligations)
9,664.5
10,149.4
Less: Cash and cash equivalents
(1,542.9)
(1,090.5)
Net debt (excluding Hybrid equity)
8,121.6
9,058.9
Hybrid equity
2,985.8
1,882.4
Borrowings and cash attributable to non-controlling interests
(1,258.4)
(937.9)
Cash held and posted as collateral and other deposits
(i)
246.0
63.3
Adjusted Net Debt and Hybrid Capital APM
10,095.0
10,066.7
Equity attributable to shareholders of the parent
12,663.9
10,181.6
Total capital excluding lease obligations
22,758.9
20,248.3
* The comparatives have been restated. See note 1.2. (i) At 31 March 2026 collateral and other deposits were a net liability of \u00a3246.0m (2025: \u00a363.3m net liability) consisting of net collateral liabilities of \u00a3258.3m (2025: \u00a372.9m net liability) and other deposits with a maturity of more than three months of \u00a312.3m (2025: \u00a39.6m). The collateral movement in the current year is due to cash withdrawals from trading exchanges following increases in the variation margin on \u201cin the money\u201d positions. Adjusted Net Debt and Hybrid Capital is stated after removing lease obligations, external net debt attributable to non-controlling interests and cash held and posted as collateral and other deposits with a maturity of more than three months in line with the Group\u2019s presentation basis which is explained at note 3.1 . The adjustment related to the non-controlling interest share of Scottish Hydro Electric Transmission plc external net debt and related SSE plc external debt is \u00a31,258.4m at 31 March 2026 (2025: \u00a3937.9m restated) and relates to 25% of external loans of \u00a35,073.7m (2025: \u00a33,758.8m restated) net of cash and cash equivalents of \u00a340.2m (2025: \u00a37.3m). This adjustment was increased from \u00a3817.9m to \u00a3937.9m at 31 March 2025, reflecting the change of definition referred to at note 3.1 . ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-756": { "value": "21.3 Borrowing facilities The Group maintains a diversified portfolio of funding sources, including committed bank facilities, bond issuances, a \u20ac1.5bn commercial paper programme and private placements to support its liquidity requirements and investment programme. At 31 March 2026, \u00a3501.2m of the Group\u2019s \u20ac1.5bn commercial paper programme was outstanding (2025: \u00a3890.5m). At 31 March 2026, the Group had access to a total of \u00a35.0bn of committed facilities (2025: \u00a33.0bn), comprising revolving credit facilities and other committed arrangements. During the year, Scottish Hydro Electric Transmission plc agreed \u00a32.0bn of new ECA and National Wealth Fund guaranteed facilities. As at 31 March 2026 there were no drawings on the revolving credit facilities (2025: Scottish Hydro Electric Transmission plc utilisation \u00a3340m and SSE plc utilisation \u00a3nil) or the new ECA and National Wealth Fund facilities. The committed facilities are in place to ensure the Group has sufficient liquidity headroom when making significant capital investment. The \u00a31.5bn revolving credit facility for SSE plc is in place to provide back-up to the commercial paper programme and support the Group\u2019s capital expenditure plans. The \u00a33.5bn Scottish Hydro Electric Transmission plc facilities are in place to support the capital expenditure and working capital during a period of significant capital growth for the business. On 31 March 2026, SSE plc signed an additional commitment letter which allows SSE plc to enter a \u00a31.5bn committed facility between 31 March 2026 and 30 June 2026. The revolving credit facilities include sustainability-linked features which may or may not adjust the interest margin applicable. The rate of interest is calculated annually, subject to fulfilling certain ESG KPIs and applied prospectively. At 31 March 2026, these features had no impact on the carrying value of the borrowings. Under the terms of its revolving credit and private placement borrowing facilities, the Group is subject to the following financial covenants: \u2013 Interest Cover Ratio: The Group shall procure that the ratio of Operating Profit to Net Interest Payable for any relevant period is not less than 2.5 to 1. \u2013 Net debt to Regulatory Asset Value: Scottish Hydro Electric Transmission plc shall procure that the consolidated net debt to Regulatory Asset Value does not at any time exceed 0.80 to 1.00 as assessed by their financial statements. The Group and Scottish Hydro Electric Transmission plc complied with all covenants throughout the year. During the year to 31 March 2026, SSE plc issued a total of \u00a31.6bn of new borrowings, including \u00a31.1bn of dual-tranche equity accounted hybrid bonds (see note 22.5 ) and \u00a30.5bn of commercial paper rolled at maturity. Scottish Hydro Electric Transmission plc issued a total of \u00a31.1bn of new external debt instruments across four issuances. A total of \u00a32.2bn of instruments matured in the period, including \u00a31.0bn of SSE plc Eurobonds, \u00a30.9bn of SSE plc commercial paper and \u00a30.3bn of Scottish Hydro Electric Transmission plc debt instruments. On 7 April 2026, subsequent to the balance sheet date, SSE plc issued a \u20ac400m (\u00a3346m) two-year floating rate note. Analysis of borrowings
2026
2026
2026
2026
2025
2025
2025
2025
Weighted Weighted
average Carrying average Carrying
interest Face value Fair value amount interest Face value Fair value amount
rate
(iv)
\u00a3m \u00a3m \u00a3m
rate
(iv)
\u00a3m \u00a3m \u00a3m
Current
Bank loans \u2013 non amortising
(i)
2.2%
300.0
296.6
300.0
\u2013
\u2013
\u2013
\u2013
Other Short term loans \u2013 non amortising
(ii)
2.4%
502.2
503.7
501.2
5.0%
901.7
906.6
890.5
1.250% Eurobond repayable 16 April 2025
\u2013
\u2013
\u2013
\u2013
1.3%
531.4
531.2
531.4
0.875% \u20ac600m Eurobond repayable 8 September 2025
(v)
\u2013
\u2013
\u2013
\u2013
0.9%
502.6
499.2
502.4
US Private Placement 8 June 2026
3.1%
64.0
64.4
64.0
\u2013
\u2013
\u2013
\u2013
US Private Placement 6 September 2026
3.2%
247.1
259.0
246.9
\u2013
\u2013
\u2013
\u2013
Within one year
1,113.3
1,123.7
1,112.1
1,935.7
1,937.0
1,924.3
Fair value adjustment
(iii)
12.5
(28.8)
Total current borrowings
1,113.3
1,123.7
1,124.6
1,935.7
1,937.0
1,895.5
Non-Current
Bank loans \u2013 non amortising
(i)
4.6%
450.0
460.0
450.0
3.5%
500.0
493.1
500.0
Other loans \u2013 non amortising
(ii)
\u2013
\u2013
\u2013
\u2013
4.8%
340.0
340.0
340.0
US Private Placement 8 June 2026
\u2013
\u2013
\u2013
\u2013
3.1%
64.0
63.0
63.8
US Private Placement 6 September 2026
\u2013
\u2013
\u2013
\u2013
3.2%
247.1
258.9
246.2
US Private Placement 6 September 2027
3.2%
35.0
34.0
34.9
3.2%
35.0
33.3
34.8
1.375% \u20ac650m Eurobond repayable 4 September 2027
(v) (vi)
1.4%
591.4
576.0
591.1
1.4%
591.4
573.7
590.9
1.50% Eurobond repayable 24 March 2028
(v)
1.5%
250.0
234.0
249.7
1.5%
250.0
227.5
249.5
8.375% Eurobond repayable on 20 November 2028
8.4%
500.0
538.7
498.9
8.4%
500.0
554.3
498.5
2.875% Eurobond repayable 1 August 2029
(v)
2.9%
567.6
560.0
566.8
2.9%
544.5
539.3
543.3
1.750% Eurobond repayable 16 April 2030
(v)
1.8%
442.9
413.9
442.9
\u2013
\u2013
\u2013
\u2013
Between two and five years
2,836.9
2,816.6
2,834.3
3,072.0
3,083.1
3,067.0
1.750% Eurobond repayable 16 April 2030
(vii)
\u2013
\u2013
\u2013
\u2013
1.8%
442.9
413.9
442.9
5.50% Eurobond repayable on 7 June 2032
5.5%
350.0
351.8
350.1
5.5%
350.0
353.1
350.1
Private Placement 30 June 2032
3.1%
175.0
154.6
175.0
3.1%
175.0
152.1
175.0
2.25% Eurobond repayable 27 September 2035
(v)
2.3%
350.0
262.1
348.0
2.3%
350.0
252.4
347.8
2.125% Eurobond repayable 24 March 2036
(v)
2.1%
250.0
180.2
248.8
2.1%
250.0
175.4
248.7
4.625% Eurobond repayable on 20 February 2037
4.6%
325.0
289.6
324.4
4.6%
325.0
288.5
324.3
Private Placement 30 June 2037
3.2%
175.0
136.7
175.0
3.2%
175.0
135.5
175.0
6.25% Eurobond repayable on 27 August 2038
6.3%
350.0
350.5
348.0
6.3%
350.0
350.7
347.9
4.454% Index linked loan repayable on 27 February 2044
4.5%
159.6
180.5
159.3
4.5%
164.7
186.4
164.3
1.429% Index linked bond repayable on 20 October 2056
1.4%
204.7
132.8
204.7
1.4%
195.5
134.3
195.5
4.00% \u20ac750m Eurobond repayable 5 September 2031
(v) (viii)
4.0%
655.0
664.5
653.7
4.0%
628.2
646.5
626.8
5.50% \u00a3500m Eurobond maturing 15 January 2044
(v)
5.5%
500.0
442.6
493.3
5.5%
500.0
448.3
493.0
3.375% \u20ac950m Eurobond repayable 4 September 2032
(v)(ix)
3.4%
802.0
782.7
800.5
3.4%
715.3
702.7
713.6
Private Placement 26 June 2034
4.7%
111.3
106.2
111.3
4.7%
111.3
107.8
111.3
Private Placement 19 July 2039
5.6%
30.0
28.4
30.0
5.6%
30.0
28.4
30.0
3.50% \u20ac600m Eurobond repayable 18 March 2032
(v)(x)
3.5%
524.0
516.2
521.4
3.5%
503.5
501.3
500.5
3.375% \u20ac750m Eurobond maturing 2 November 2033
(v)(xi)
3.4%
647.7
627.9
646.2
\u2013
\u2013
\u2013
\u2013
Private Placement 11 February 2036
5.0%
112.7
109.4
112.7
\u2013
\u2013
\u2013
\u2013
Over five years
5,722.0
5,316.7
5,702.4
5,266.4
4,877.3
5,246.7
Fair value adjustment
(iii)
3.2
(59.8)
Total non-current borrowings
8,558.9
8,133.3
8,539.9
8,338.4
7,960.4
8,253.9
Total borrowings
9,672.2
9,257.0
9,664.5
10,274.1
9,897.4
10,149.4
Note: The Sterling-equivalent fair value reflects the fair value of non-Sterling denominated borrowings, post the impact of the hedges noted below. (i) Balances include term loans and EIB debt and is a mixture of fixed and floating rate debt. (ii) Balances include Commercial Paper and facility advances (\u00a3501.2m of Commercial Paper). At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its \u00a31.5bn revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date. (iii) The fair value adjustment relates to the change in the carrying amount of the borrowings as a result of fair value hedges that are in place. The movement in the fair value adjustment is recognised in the income statement with a corresponding movement on the hedging instrument also being recognised in the income statement. (iv) The weighted average interest rates (including the effect of interest rate swaps) for the year ended 31 March 2026 was 3.79% (2025: 3.85%). (v) Bonds have been issued under the Group\u2019s Sustainability Financing Framework (previously the Group\u2019s Green Bond Framework). (vi) The 1.375% \u20ac650m Eurobond maturing 4 September 2027 has been swapped to Sterling giving an effective interest rate of 2.56%. (vii) The 1.750% \u20ac500m Eurobond maturing 16 April 2030 has been swapped to Sterling giving an effective interest rate of 2.89%. (viii) The 4.0% \u20ac750m Eurobond maturing 5 September 2031 has been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries. (ix) The 3.375% \u20ac950m Eurobond maturing 4 September 2032 has been swapped to Sterling giving an effective interest rate of 4.91%. (x) The 3.50% \u20ac600m Eurobond maturing 18 March 2032 has predominantly been left in Euros as a net investment hedge for the Group\u2019s Euro denominated subsidiaries. (xi) The 3.375% \u20ac750m Eurobond maturin g 2 November 2033 has been swapped to Sterlin gg ivin g an effective interest rate of 5.20%. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-757": { "value": "
Lease liabilities
Amounts charged under lease arrangements are detailed within note 6
, and right of use assets recognised under lease arrangements are
detailed within note 14
.
2026 2025
\u00a3m \u00a3m
At 1 April
455.0
407.5
Additions during the year
74.9
139.8
Disposals during the year
(8.9)
(12.3)
Unwind of discount
24.1
26.9
Repayment in the year
(86.9)
(106.9)
Transferred to liabilities held for sale
(1.5)
\u2013
At 31 March
456.7
455.0
The weighted average incremental borrowing rate applied to lease liabilities during the year was 5.12% (2025: 4.95%). Incremental borrowing
rates applied to individual lease additions in the year ranged between 3.75% to 7.34% (2025: 3.85% to 7.46%). The Group has additional
committed payments under short term and low value leases at 31 March 2026 of \u00a314.0m (2025: \u00a314.3m).
The maturity of future lease liabilities are as follows:
2026 2025
\u00a3m \u00a3m
Within one year
86.8
75.2
Between one and five years
223.2
233.5
After five years
390.1
403.2
700.1
711.9
Less: future finance charge
(243.4)
(256.9)
Present value of lease obligations
456.7
455.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-779": { "value": "
21.4 Reconciliation of net increase in cash and cash equivalents to movement in Adjusted Net Debt and Hybrid Capital
2025
2026 \u00a3m
\u00a3m (restated*)
Increase in cash and cash equivalents
452.4
54.6
(Less)/add:
New borrowing proceeds
(1,595.3)
(2,592.2)
New Hybrid equity proceeds
(1,103.4)
\u2013
Repayment of borrowings
2,294.2
1,055.3
Non-cash movement on borrowings
(214.0)
113.7
Increase in borrowings and cash attributable to non-controlling interest holders
320.5
252.7
(Increase)/decrease in cash held and posted as collateral and other deposits
(182.7)
289.9
Increase in Adjusted Net Debt and Hybrid Capital APM
(28.3)
(826.0)
* The comparatives have been restated. See note 1.2.
Cash held and posted as collateral refers to amounts received and deposited on commodity trading exchanges which are reported within
\u201cTrade and other payables\u201d and \u201cTrade and other receivables\u201d respectively on the face of the balance sheet, as well as other deposits with a
maturity of more than 3 months.
21.5 Reconciliation of movements in financing liabilities
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2025 borrowings borrowings creditor movements movements liabilities classification Other 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
500.0
250.0
\u2013
\u2013
\u2013
\u2013
\u2013
(300.0)
\u2013
450.0
Private placement
852.2
112.7
\u2013
\u2013
(9.5)
\u2013
\u2013
(310.0)
0.1
645.5
Fixed rate Eurobonds
6,201.9
734.4
\u2013
\u2013
72.5
70.3
\u2013
\u2013
1.4
7,080.5
Index linked loans
359.8
\u2013
(11.2)
\u2013
\u2013
\u2013
\u2013
\u2013
15.3
363.9
Other loans \u2013 non
amortising
340.0
\u2013
(340.0)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Total long term borrowings
8,253.9
1,097.1
(351.2)
\u2013
63.0
70.3
\u2013
(610.0)
16.8
8,539.9
Bank loans
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
300.0
\u2013
300.0
Fixed rate Eurobonds
1,005.0
\u2013
(1,052.5)
\u2013
28.8
18.6
\u2013
\u2013
0.1
\u2013
Other short term loans \u2013
non amortising
890.5
498.2
(890.5)
\u2013
\u2013
3.0
\u2013
\u2013
\u2013
501.2
US private placement
\u2013
\u2013
\u2013
\u2013
12.5
\u2013
\u2013
310.0
0.9
323.4
Total short term borrowings
1,895.5
498.2
(1,943.0)
\u2013
41.3
21.6
\u2013
610.0
1.0
1,124.6
10,149.4
1,595.3
(2,294.2)
\u2013
104.3
91.9
\u2013
\u2013
17.8
9,664.5
Lease liabilities
455.0
\u2013
\u2013
(86.9)
\u2013
\u2013
88.6
\u2013
\u2013
456.7
Total loans and borrowings
10,604.4
1,595.3
(2,294.2)
(86.9)
104.3
91.9
88.6
\u2013
17.8
10,121.2
Assets held to hedge long
term borrowings
48.2
\u2013
\u2013
\u2013
(122.1)
\u2013
\u2013
\u2013
\u2013
(73.9)
10,652.6
1,595.3
(2,294.2)
(86.9)
(17.8)
91.9
88.6
\u2013
17.8
10,047.3
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2024 borrowings borrowings creditor movements movements liabilities classification Other 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
499.9
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
0.1
500.0
Private placement
770.2
141.3
\u2013
\u2013
(60.2)
\u2013
\u2013
\u2013
0.9
852.2
Fixed rate Eurobonds
6,059.7
1,220.4
\u2013
\u2013
(4.8)
(25.7)
\u2013
(1,043.6)
(4.1)
6,201.9
Index linked loans
357.8
\u2013
(10.8)
\u2013
\u2013
\u2013
\u2013
\u2013
12.8
359.8
Other loans \u2013 non amortising
\u2013
340.0
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
340.0
Total long term borrowings
7,687.6
1,701.7
(10.8)
\u2013
(65.0)
(25.7)
\u2013
(1,043.6)
9.7
8,253.9
Fixed rate Eurobonds
\u2013
\u2013
\u2013
\u2013
(30.4)
(10.4)
\u2013
1,043.6
2.2
1,005.0
Other short term loans \u2013 non
amortising
840.4
890.5
(840.4)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
890.5
US private placement
198.2
\u2013
(204.1)
\u2013
5.9
\u2013
\u2013
\u2013
\u2013
\u2013
Total short term borrowings
1,038.6
890.5
(1,044.5)
\u2013
(24.5)
(10.4)
\u2013
1,043.6
2.2
1,895.5
8,726.2
2,592.2
(1,055.3)
\u2013
(89.5)
(36.1)
\u2013
\u2013
11.9
10,149.4
Lease liabilities
407.5
\u2013
\u2013
(106.9)
\u2013
\u2013
154.4
\u2013
\u2013
455.0
Total loans and borrowings
9,133.7
2,592.2
(1,055.3)
(106.9)
(89.5)
(36.1)
154.4
\u2013
11.9
10,604.4
Assets held to hedge long
term borrowings
18.5
\u2013
\u2013
\u2013
29.7
\u2013
\u2013
\u2013
\u2013
48.2
9,152.2
2,592.2
(1,055.3)
(106.9)
(59.8)
(36.1)
154.4
\u2013
11.9
10,652.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-758": { "value": "21.5 Reconciliation of movements in financing liabilities
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2025 borrowings borrowings creditor movements movements liabilities classification Other 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
500.0
250.0
\u2013
\u2013
\u2013
\u2013
\u2013
(300.0)
\u2013
450.0
Private placement
852.2
112.7
\u2013
\u2013
(9.5)
\u2013
\u2013
(310.0)
0.1
645.5
Fixed rate Eurobonds
6,201.9
734.4
\u2013
\u2013
72.5
70.3
\u2013
\u2013
1.4
7,080.5
Index linked loans
359.8
\u2013
(11.2)
\u2013
\u2013
\u2013
\u2013
\u2013
15.3
363.9
Other loans \u2013 non
amortising
340.0
\u2013
(340.0)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Total long term borrowings
8,253.9
1,097.1
(351.2)
\u2013
63.0
70.3
\u2013
(610.0)
16.8
8,539.9
Bank loans
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
300.0
\u2013
300.0
Fixed rate Eurobonds
1,005.0
\u2013
(1,052.5)
\u2013
28.8
18.6
\u2013
\u2013
0.1
\u2013
Other short term loans \u2013
non amortising
890.5
498.2
(890.5)
\u2013
\u2013
3.0
\u2013
\u2013
\u2013
501.2
US private placement
\u2013
\u2013
\u2013
\u2013
12.5
\u2013
\u2013
310.0
0.9
323.4
Total short term borrowings
1,895.5
498.2
(1,943.0)
\u2013
41.3
21.6
\u2013
610.0
1.0
1,124.6
10,149.4
1,595.3
(2,294.2)
\u2013
104.3
91.9
\u2013
\u2013
17.8
9,664.5
Lease liabilities
455.0
\u2013
\u2013
(86.9)
\u2013
\u2013
88.6
\u2013
\u2013
456.7
Total loans and borrowings
10,604.4
1,595.3
(2,294.2)
(86.9)
104.3
91.9
88.6
\u2013
17.8
10,121.2
Assets held to hedge long
term borrowings
48.2
\u2013
\u2013
\u2013
(122.1)
\u2013
\u2013
\u2013
\u2013
(73.9)
10,652.6
1,595.3
(2,294.2)
(86.9)
(17.8)
91.9
88.6
\u2013
17.8
10,047.3
Financing cash flows
Non-cash movements
Repayment Repayment Foreign
At 31 March New of of lease Fair value exchange Lease Re- At 31 March
2024 borrowings borrowings creditor movements movements liabilities classification Other 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financing liabilities
Bank loans
499.9
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
0.1
500.0
Private placement
770.2
141.3
\u2013
\u2013
(60.2)
\u2013
\u2013
\u2013
0.9
852.2
Fixed rate Eurobonds
6,059.7
1,220.4
\u2013
\u2013
(4.8)
(25.7)
\u2013
(1,043.6)
(4.1)
6,201.9
Index linked loans
357.8
\u2013
(10.8)
\u2013
\u2013
\u2013
\u2013
\u2013
12.8
359.8
Other loans \u2013 non amortising
\u2013
340.0
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
340.0
Total long term borrowings
7,687.6
1,701.7
(10.8)
\u2013
(65.0)
(25.7)
\u2013
(1,043.6)
9.7
8,253.9
Fixed rate Eurobonds
\u2013
\u2013
\u2013
\u2013
(30.4)
(10.4)
\u2013
1,043.6
2.2
1,005.0
Other short term loans \u2013 non
amortising
840.4
890.5
(840.4)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
890.5
US private placement
198.2
\u2013
(204.1)
\u2013
5.9
\u2013
\u2013
\u2013
\u2013
\u2013
Total short term borrowings
1,038.6
890.5
(1,044.5)
\u2013
(24.5)
(10.4)
\u2013
1,043.6
2.2
1,895.5
8,726.2
2,592.2
(1,055.3)
\u2013
(89.5)
(36.1)
\u2013
\u2013
11.9
10,149.4
Lease liabilities
407.5
\u2013
\u2013
(106.9)
\u2013
\u2013
154.4
\u2013
\u2013
455.0
Total loans and borrowings
9,133.7
2,592.2
(1,055.3)
(106.9)
(89.5)
(36.1)
154.4
\u2013
11.9
10,604.4
Assets held to hedge long
term borrowings
18.5
\u2013
\u2013
\u2013
29.7
\u2013
\u2013
\u2013
\u2013
48.2
9,152.2
2,592.2
(1,055.3)
(106.9)
(59.8)
(36.1)
154.4
\u2013
11.9
10,652.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-657": { "value": "22. Equity 22.1 Share capital
2026
2025
Number Number
(millions) \u00a3m
(millions)
\u00a3m
Allotted, called up and fully paid:
At 1 April
1,111.2
555.6
1,096.2
548.1
Issue of shares
104.3
52.1
15.0
7.5
At 31 March
1,215.5
607.7
1,111.2
555.6
The Company has one class of ordinary share which carries no right to fixed income. The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company. On 14 November 2025 the Group issued 97.9m ordinary shares at a placement price of \u00a320.50 per share, resulting in gross proceeds of \u00a32,007.3m. Transaction costs, which were directly attributable to the issuance, have been deducted from share premium in line with IAS 32 and therefore the Group recognised net proceeds of \u00a31,978.4m from this share issuance. Shareholders were able to elect to receive ordinary shares in place of the final dividend of 43.0p per ordinary share (in relation to year ended 31 March 2025) and the interim dividend of 21.4p (in relation to the current year) under the terms of the Company\u2019s scrip dividend scheme. This resulted in the issue of 1.4m and 5.0m new fully paid ordinary shares respectively (2025: 12.2m and 2.8m). In addition, the Company issued 1.4m (2025: 1.7m) shares during the year to satisfy awards to employees under certain employee share schemes (all of which were settled by shares held in Treasury) for a consideration of \u00a317.4m (2025: \u00a317.8m). The scrip dividend take-up for the prior financial year was 9.7%, which was below the 25.0% required by the share buyback programme, therefore no share buybacks occurred during the current year. In the year ended 31 March 2025 3.8m shares were repurchased for total consideration of \u00a371.7m (including stamp duty and commission). Of the 1,215.5m shares in issue, 3.3m are held as treasury shares. These shares will be held by SSE plc and used to satisfy awards to employees under certain employee share schemes. During the year, on behalf of the Company, the employee share trust purchased 1.0m shares for a total consideration of \u00a325.4m (2025: 0.8m shares, consideration of \u00a314.1m) to be held in trust for the benefit of employee share schemes. At 31 March 2026, the trust held 6.1m shares (2025: 6.7m) which had a market value of \u00a3159.5m (2025: \u00a3107.1m). 22.2 Capital redemption reserve The capital redemption reserve comprises the value of shares redeemed or purchased and cancelled by the Company from distributable profits. 22.3 Hedge reserve The hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedge derivative instruments related to hedged transactions that have not yet occurred. 22.4 Translation reserve Comprises exchange translation differences on foreign currency net investments offset by exchange translation differences on borrowings and derivatives classified as net investment hedges under IAS 39. 22.5 Hybrid Equity
2026 2025
\u00a3m \u00a3m
GBP 600m 3.74% perpetual subordinated capital securities
(i)
598.0
598.0
EUR 500m 3.125% perpetual subordinated capital securities
(i)
453.0
453.0
EUR 1,000m 4.00% perpetual subordinated capital securities
(ii)
831.4
831.4
EUR 800m 4.00% perpetual subordinated capital securities
(iii)
678.9
\u2013
EUR 500m 4.50% perpetual subordinated capital securities
(iii)
424.5
\u2013
2,985.8
1,882.4
(i) 2 July 2020 \u00a3600m and \u20ac500m Hybrid Capital Bonds The hybrid capital bonds issued in July 2020 have no fixed redemption date, but the Company may, at its sole discretion, redeem all but not part of the capital securities at their principal amount. The date for the first potential discretionary redemption of the \u00a3600m hybrid bond is 14 April 2026 and then every 5 years thereafter. The date for the first potential discretionary redemption of the \u20ac500m hybrid capital bond is 14 July 2027 and then every 5 years thereafter. For the \u00a3600m hybrid the discretionary coupon payments are made annually on 14 April and for the \u20ac500m hybrid the coupon payments are made annually on 14 July. (ii) 12 April 2022 \u20ac1,000m Hybrid Capital Bonds The hybrid capital bond issued in April 2022 has no fixed redemption date, but the Company may, at its sole discretion, redeem all but not part of the capital securities at their principal amount. The date for the first potential discretionary redemption is 21 April 2028 and then every 5 years thereafter. The discretionary hybrid coupon payments are made annually on 22 April.
(iii) 12 June 2025 \u20ac800m and \u20ac500m Hybrid Capital Bonds
The hybrid capital bonds issued in June 2025 have no fixed redemption dates, but the Company may, at its sole discretion, redeem all but
not part of the capital securities at their principal amount. The date for the first potential redemption for the \u20ac800m hybrid capital bond is
19 September 2030, and for the \u20ac500m bond is 19 June 2033, then every five years thereafter. The discretionary hybrid coupon payments
are made annually on 19 September and 19 June respectively.
Coupon payments
In relation to the \u00a3600m hybrid equity bond a discretionary coupon payment of \u00a322.4m (2025: \u00a322.4m) was made on 14 April 2025, for the
\u20ac500m hybrid equity bond a discretionary coupon payment of \u00a316.5m (2025: \u00a316.5m) was made on 14 July 2025 and for the \u20ac1bn hybrid
equity bond a discretionary payment of \u00a334.0m was paid on 22 April 2025 (2025: \u00a334.8m). The first discretionary coupon payment on the new
hybrid equity bonds will occur on 19 June 2026 for the \u20ac500m hybrid equity bond and 19 September 2026 for the \u20ac800m hybrid equity bond.
The coupon payments in the year to 31 March 2026 consequently totalled \u00a372.9m (2025: \u00a373.7m).
The Company has the option to defer coupon payments on the bonds on any relevant payment date, as long as a dividend on the ordinary
shares has not been declared. Deferred coupons shall be satisfied only on redemption; or on a dividend payment on ordinary shares, both of
which occur at the sole option of the Company. Interest will accrue on any deferred coupon.
22.6 Equity attributable to non-controlling interests
This relates to equity attributable to non-wholly owned but controlled subsidiaries which are consolidated within the financial statements of the
Group. At 31 March 2026 the amount attributable to non-controlling interests is \u00a3751.6m (2025: \u00a3628.8m), which relates to Scottish Hydro
Electric Transmission of \u00a3713.4m (2025: \u00a3589.6m) and SSE Pacifico \u00a338.2m (2025: \u00a339.2m). The profit attributable to non-controlling interests
for the year ended 31 March 2026 is \u00a3130.0m (2025: \u00a369.8m), which relates to Scottish Hydro Electric Transmission \u00a3130.3m (2025: \u00a370.6m)
and SSE Pacifico \u00a30.3m loss (2025: \u00a30.8m loss).
Details regarding Scottish Hydro Electric Transmission\u2019s principal activity and country of incorporation are included in A3
.
Scottish Hydro Electric Transmission\u2019s summary financial information is as follows:
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
9,052.1
6,936.2
Current assets
636.0
210.0
Current liabilities
(1,737.3)
(399.8)
Non-current liabilities
(5,129.3)
(4,424.2)
2,821.5
2,322.2
2026 2025
\u00a3m \u00a3m
Revenue
1,210.3
807.0
Operating profit
770.3
435.5
Net finance costs
(47.0)
(60.3)
Profit before taxation
723.3
375.2
Taxation
(201.1)
(110.8)
Profit for the year after taxation
522.2
264.4
The summary financial information provided above is presented without Group eliminations, including \u00a31.0bn (2025: \u00a3480.0m) of internal loans,
consolidation and re-measurement adjustments, and deferred taxation, which have been eliminated to calculate the non-controlling interest
for adjusted profit.
2025
2026 \u00a3m
\u00a3m (restated*)
Profit for the year after taxation
522.2
264.4
add/(less):
Consolidation adjustments
(19.5)
(0.8)
Re-measurement movement on financing derivatives
(7.4)
\u2013
Deferred taxation
258.0
165.4
753.3
429.0
Adjusted net profit attributable to 25% non-controlling interest
188.3
107.3
In addition to the net profit after tax attributable to the Scottish Hydro Electric Transmission non-controlling interest holders of \u00a3188.3m (2025:
\u00a3107.3m) shown above, the Group\u2019s APM also reflects \u00a30.3m of a loss (2025: \u00a30.8m loss) attributable to the SSE Pacifico non-controlling
interest holders.
* The comparatives have been restated. See note 1.2.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-699": { "value": "
22.1 Share capital
2026
2025
Number Number
(millions) \u00a3m
(millions)
\u00a3m
Allotted, called up and fully paid:
At 1 April
1,111.2
555.6
1,096.2
548.1
Issue of shares
104.3
52.1
15.0
7.5
At 31 March
1,215.5
607.7
1,111.2
555.6
The Company has one class of ordinary share which carries no right to fixed income. The holders of ordinary shares are entitled to receive
dividends as declared and are entitled to one vote per share at meetings of the Company.
On 14 November 2025 the Group issued 97.9m ordinary shares at a placement price of \u00a320.50 per share, resulting in gross proceeds of
\u00a32,007.3m. Transaction costs, which were directly attributable to the issuance, have been deducted from share premium in line with IAS 32 and
therefore the Group recognised net proceeds of \u00a31,978.4m from this share issuance.
Shareholders were able to elect to receive ordinary shares in place of the final dividend of 43.0p per ordinary share (in relation to year ended
31 March 2025) and the interim dividend of 21.4p (in relation to the current year) under the terms of the Company\u2019s scrip dividend scheme. This
resulted in the issue of 1.4m and 5.0m new fully paid ordinary shares respectively (2025: 12.2m and 2.8m). In addition, the Company issued 1.4m
(2025: 1.7m) shares during the year to satisfy awards to employees under certain employee share schemes (all of which were settled by shares
held in Treasury) for a consideration of \u00a317.4m (2025: \u00a317.8m).
The scrip dividend take-up for the prior financial year was 9.7%, which was below the 25.0% required by the share buyback programme,
therefore no share buybacks occurred during the current year. In the year ended 31 March 2025 3.8m shares were repurchased for total
consideration of \u00a371.7m (including stamp duty and commission).
Of the 1,215.5m shares in issue, 3.3m are held as treasury shares. These shares will be held by SSE plc and used to satisfy awards to employees
under certain employee share schemes.
During the year, on behalf of the Company, the employee share trust purchased 1.0m shares for a total consideration of \u00a325.4m (2025: 0.8m
shares, consideration of \u00a314.1m) to be held in trust for the benefit of employee share schemes. At 31 March 2026, the trust held 6.1m shares
(2025: 6.7m) which had a market value of \u00a3159.5m (2025: \u00a3107.1m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-698": { "value": "
22.2 Capital redemption reserve
The capital redemption reserve comprises the value of shares redeemed or purchased and cancelled by the Company from distributable profits.
22.3 Hedge reserve
The hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedge derivative instruments
related to hedged transactions that have not yet occurred.
22.4 Translation reserve
Comprises exchange translation differences on foreign currency net investments offset by exchange translation differences on borrowings and
derivatives classified as net investment hedges under IAS 39.
22.5 Hybrid Equity
2026 2025
\u00a3m \u00a3m
GBP 600m 3.74% perpetual subordinated capital securities
(i)
598.0
598.0
EUR 500m 3.125% perpetual subordinated capital securities
(i)
453.0
453.0
EUR 1,000m 4.00% perpetual subordinated capital securities
(ii)
831.4
831.4
EUR 800m 4.00% perpetual subordinated capital securities
(iii)
678.9
\u2013
EUR 500m 4.50% perpetual subordinated capital securities
(iii)
424.5
\u2013
2,985.8
1,882.4
(i) 2 July 2020 \u00a3600m and \u20ac500m Hybrid Capital Bonds
The hybrid capital bonds issued in July 2020 have no fixed redemption date, but the Company may, at its sole discretion, redeem all but not
part of the capital securities at their principal amount. The date for the first potential discretionary redemption of the \u00a3600m hybrid bond is
14 April 2026 and then every 5 years thereafter. The date for the first potential discretionary redemption of the \u20ac500m hybrid capital bond is
14 July 2027 and then every 5 years thereafter. For the \u00a3600m hybrid the discretionary coupon payments are made annually on 14 April and for
the \u20ac500m hybrid the coupon payments are made annually on 14 July.
(ii) 12 April 2022 \u20ac1,000m Hybrid Capital Bonds
The hybrid capital bond issued in April 2022 has no fixed redemption date, but the Company may, at its sole discretion, redeem all but not part
of the capital securities at their principal amount. The date for the first potential discretionary redemption is 21 April 2028 and then every 5 years
thereafter. The discretionary hybrid coupon payments are made annually on 22 April.
(iii) 12 June 2025 \u20ac800m and \u20ac500m Hybrid Capital Bonds The hybrid capital bonds issued in June 2025 have no fixed redemption dates, but the Company may, at its sole discretion, redeem all but not part of the capital securities at their principal amount. The date for the first potential redemption for the \u20ac800m hybrid capital bond is 19 September 2030, and for the \u20ac500m bond is 19 June 2033, then every five years thereafter. The discretionary hybrid coupon payments are made annually on 19 September and 19 June respectively. Coupon payments In relation to the \u00a3600m hybrid equity bond a discretionary coupon payment of \u00a322.4m (2025: \u00a322.4m) was made on 14 April 2025, for the \u20ac500m hybrid equity bond a discretionary coupon payment of \u00a316.5m (2025: \u00a316.5m) was made on 14 July 2025 and for the \u20ac1bn hybrid equity bond a discretionary payment of \u00a334.0m was paid on 22 April 2025 (2025: \u00a334.8m). The first discretionary coupon payment on the new hybrid equity bonds will occur on 19 June 2026 for the \u20ac500m hybrid equity bond and 19 September 2026 for the \u20ac800m hybrid equity bond. The coupon payments in the year to 31 March 2026 consequently totalled \u00a372.9m (2025: \u00a373.7m). The Company has the option to defer coupon payments on the bonds on any relevant payment date, as long as a dividend on the ordinary shares has not been declared. Deferred coupons shall be satisfied only on redemption; or on a dividend payment on ordinary shares, both of which occur at the sole option of the Company. Interest will accrue on any deferred coupon. 22.6 Equity attributable to non-controlling interests This relates to equity attributable to non-wholly owned but controlled subsidiaries which are consolidated within the financial statements of the Group. At 31 March 2026 the amount attributable to non-controlling interests is \u00a3751.6m (2025: \u00a3628.8m), which relates to Scottish Hydro Electric Transmission of \u00a3713.4m (2025: \u00a3589.6m) and SSE Pacifico \u00a338.2m (2025: \u00a339.2m). The profit attributable to non-controlling interests for the year ended 31 March 2026 is \u00a3130.0m (2025: \u00a369.8m), which relates to Scottish Hydro Electric Transmission \u00a3130.3m (2025: \u00a370.6m) and SSE Pacifico \u00a30.3m loss (2025: \u00a30.8m loss). Details regarding Scottish Hydro Electric Transmission\u2019s principal activity and country of incorporation are included in A3 . Scottish Hydro Electric Transmission\u2019s summary financial information is as follows:
2025
2026 \u00a3m
\u00a3m (restated*)
Non-current assets
9,052.1
6,936.2
Current assets
636.0
210.0
Current liabilities
(1,737.3)
(399.8)
Non-current liabilities
(5,129.3)
(4,424.2)
2,821.5
2,322.2
2026 2025
\u00a3m \u00a3m
Revenue
1,210.3
807.0
Operating profit
770.3
435.5
Net finance costs
(47.0)
(60.3)
Profit before taxation
723.3
375.2
Taxation
(201.1)
(110.8)
Profit for the year after taxation
522.2
264.4
The summary financial information provided above is presented without Group eliminations, including \u00a31.0bn (2025: \u00a3480.0m) of internal loans, consolidation and re-measurement adjustments, and deferred taxation, which have been eliminated to calculate the non-controlling interest for adjusted profit.
2025
2026 \u00a3m
\u00a3m (restated*)
Profit for the year after taxation
522.2
264.4
add/(less):
Consolidation adjustments
(19.5)
(0.8)
Re-measurement movement on financing derivatives
(7.4)
\u2013
Deferred taxation
258.0
165.4
753.3
429.0
Adjusted net profit attributable to 25% non-controlling interest
188.3
107.3
In addition to the net profit after tax attributable to the Scottish Hydro Electric Transmission non-controlling interest holders of \u00a3188.3m (2025: \u00a3107.3m) shown above, the Group\u2019s APM also reflects \u00a30.3m of a loss (2025: \u00a30.8m loss) attributable to the SSE Pacifico non-controlling interest holders. * The comparatives have been restated. See note 1.2.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-658": { "value": "
23. Retirement benefit obligations
The Group has two funded final salary pension schemes which provide defined benefits based on final pensionable pay. The schemes are
subject to independent valuations at least every three years. The future benefit obligations are valued by actuarial methods based on an
appropriate assessment of the relevant parameters.
The Group provides pension benefits to most UK colleagues through SSE Pensions+, a defined contribution master trust agreement with Aviva.
The Group generally matches employee contributions up to 6%, and provides additional contributions of 3% after two years and a further 3%
after ten years continuous Group service. The Group also operates other pension arrangements, including a defined contribution master trust
agreement with Zurich in the Republic of Ireland and an Unfunded Unapproved Retirement Benefit Scheme.
The Group presents its pension scheme valuations under two different measurement bases, a formal actuarial valuation and an IAS 19 valuation
as required by accounting standards. The IAS 19 valuation is used to determine the assets and obligations recognised in the Group\u2019s consolidated
balance sheet and is calculated annually by scheme actuaries, whereas the formal actuarial valuation is used to determine the contributions the
Group makes to each scheme. The actuarial valuation is recalculated for each scheme every three years.
Actuarial valuations
The individual pension scheme details based on the latest formal actuarial valuations are as follows:
Scottish Hydro Electric
SSE Southern
Latest formal actuarial valuation
31 March 2024
31 March 2025
Valuation carried out by
Hymans Robertson
Aon
Value of assets based on valuation
\u00a31,376.3m
\u00a31,525.4m
Value of liabilities based on valuation
\u00a31,146.1m
\u00a31,524.3m
Valuation method adopted
Projected Unit
Projected Unit
Average salary increase
RPI+0.25%
RPI+0.25%
Average pension increase
RPI
RPI
Value of fund assets/accrued benefits
120.1%
100.1%
Future contributions
Scottish Hydro Electric Pension Scheme
The last triennial actuarial valuation of the scheme was carried out at 31 March 2024 and showed a surplus of \u00a3230.2m on a projected unit
basis. Following this valuation, the Group agreed to a new schedule of contributions which does not require contributions to be paid to the
scheme, unless there is a sustained deficit for two successive quarters on the trustees\u2019 long term funding basis. Consequently, the Group has
not made contributions to the scheme in the year ending 31 March 2026 and does not expect to make any contributions during the year ended
31 March 2027. The next triennial funding valuation will be carried out as at 31 March 2027.
SSE Southern Group of the Electricity Supply Pension Scheme
The last triennial actuarial valuation of the scheme was carried out at 31 March 2025 and showed a surplus of \u00a31.1m on a projected unit basis.
Following this valuation, the Group agreed to a new schedule of contributions which provides for contributions to be paid in respect of current
accrual and expenses only. The next funding valuation will be carried out as at 31 March 2028. Total contributions of approximately \u00a37.7m are
expected to be paid by the Group during the year ending on 31 March 2027, which includes the final deficit payment made under the previous
recovery plan of \u00a31.3m in April 2026.
During the year ending 31 March 2026, the Group paid deficit contributions of \u00a316.0m (2025: \u00a315.5m).
Pension summary as measured under IAS 19:
Net actuarial (loss)/gain
recognised in respect of the
pension asset in the statement
Scheme type
of comprehensive income
Net pension asset
2026 2025 2026 2025
\u00a3m \u00a3m \u00a3m \u00a3m
Scottish Hydro Electric
Defined benefit
(2.1)
7.7
364.3
353.7
SSE Southern
Defined benefit
(78.6)
45.1
95.5
148.1
(80.7)
52.8
459.8
501.8
IFRIC 14 surplus restrictions
As a result of the Group and the trustees to the Scottish Hydro Electric Pension Scheme agreeing in 2016/17 to an amendment to the scheme
rules to clarify that the Company has a clear right to any surplus upon final winding up of the scheme, there are no restrictions on recognition
of the scheme surplus. The net pension asset of the Scottish Hydro Electric Scheme at 31 March 2026 was \u00a3364.3m (2025: \u00a3353.7m).
At 31 March 2026, the SSE Southern Pension Scheme has a net surplus of \u00a395.5m (2025: \u00a3148.1m), and unrecognised future contributions of
\u00a37.7m (2025: \u00a332.0m). The Group has assessed that it has the right to recognise the current and any future surpluses on the scheme, therefore
has not recognised a liability for future unrecoverable contributions.
Other matters
In July 2024 the Court of Appeal upheld the 16 June 2023 High Court ruling in respect of Virgin Media v NTL Pension Trustees II Limited (and
others) calling into question the validity of rule amendments made to defined benefit pension schemes contracted-out on a Reference Scheme
Test basis between 6 April 1997 and 5 April 2016. Relevant amendments to these pension schemes over this time required confirmation from
the Scheme Actuary that the Reference Scheme Test would continue to be met. In the absence of such a confirmation, the Rule amendment
would be void.
In May 2026, the UK Government introduced legislation as part of the Pension Schemes Act 2026 to enable pension schemes to retrospectively
obtain written actuarial confirmation that historic benefit changes met the necessary standards. Any subsequent developments are being
monitored by the Group and the pension scheme trustees. The defined benefit obligation for the Group\u2019s schemes has been calculated on the
basis of the pension benefits currently being administered.
23.1 Pension scheme assumptions
Both schemes have been updated to 31 March 2026 by qualified independent actuaries. The valuations have been prepared for the purposes of
meeting the requirements of IAS 19. The major assumptions used by the actuaries in both schemes were:
At 31 March At 31 March
2026 2025
Rate of increase in pensionable salaries
3.5%
3.3%
Rate of increase in pension payments
3.3%
3.0%
Discount rate
6.2%
5.8%
Inflation rate
3.3%
3.0%
The assumptions relating to longevity underlying the pension liabilities at 31 March 2026 are based on standard actuarial mortality tables, and
include an allowance for future improvements in longevity. The assumptions, equivalent to future longevity for members in normal health at
age 65, are as follows:
Scottish Hydro Electric
At 31 March 2026
At 31 March 2025
Male
Female
Male
Female
Currently aged 65
22
24
22
24
Currently aged 45
23
26
24
26
SSE Southern
At 31 March 2026
At 31 March 2025
Male
Female
Male
Female
Currently aged 65
23
25
22
25
Currently aged 45
24
26
24
25
23.2 Sensitivity analysis
The impact on the schemes\u2019 liabilities of changing certain of the major assumptions is as follows:
Scottish Hydro Electric
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Discount rate
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Longevity
1 year
+/\u2013 1.9%
1 year
+/\u2013 1.9%
SSE Southern
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Discount rate
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Longevity
1 year
+/\u2013 3.2%
1 year
+/\u2013 3.0%
23.3 Valuation of combined pension schemes
Value at Value at
Quoted Unquoted 31 March 2026 Quoted Unquoted 31 March 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Equities
148.7
\u2013
148.7
173.2
\u2013
173.2
Government bonds
998.3
\u2013
998.3
1,180.6
\u2013
1,180.6
Insurance contracts
(i)
\u2013
4 3 2 . 4
4 3 2 . 4
\u2013
454.4
454.4
Other investments
1,138.5
\u2013
1,138.5
942.1
\u2013
942.1
Total fair value of plan assets
2,285.5
432.4
2,717.9
2,295.9
454.4
2,750.3
Present value of defined benefit obligation
(2,258.1)
(2,248.5)
Surplus in the schemes
459.8
501.8
Deferred tax thereon
(ii)
(115.0)
(125.5)
Net pension asset
344.8
376.3
(i) See details of valuations of insurance contracts in note 23.7(ii).
(ii) Deferred tax rate of 25% (2025: 25%) applied to net pension surplus position.
23.4 Movements in the combined defined benefit assets and obligations during the year
2026
2025
Assets Obligations Total Assets Obligations Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
2,750.3
(2,248.5)
501.8
3,015.2
(2,593.6)
421.6
Included in income statement
Current service cost
\u2013
(14.4)
(14.4)
\u2013
(15.0)
(15.0)
Past service cost
\u2013
(1.4)
(1.4)
\u2013
( 4 . 7 )
( 4 . 7 )
Interest income/(cost)
154.0
(124.6)
29.4
141.3
(120.6)
20.7
154.0
(140.4)
13.6
141.3
(140.3)
1.0
Included in other comprehensive income
Actuarial (loss)/gain arising from:
Demographic assumptions
\u2013
(11.2)
(11.2)
\u2013
20.9
20.9
Financial assumptions
\u2013
46.5
46.5
\u2013
288.5
288.5
Experience assumptions
\u2013
(82.2)
(82.2)
\u2013
1 . 9
1 . 9
Return on plan assets excluding interest income
(33.8)
\u2013
(33.8)
(258.5)
\u2013
(258.5)
(33.8)
(46.9)
(80.7)
(258.5)
311.3
52.8
Other
Contributions paid by the employer
26.5
\u2013
26.5
26.4
\u2013
26.4
Scheme participant\u2019s contributions
0.1
(0.1)
\u2013
0.1
(0.1)
\u2013
Benefits paid
(179.2)
177.8
(1.4)
(174.2)
174.2
\u2013
(152.6)
177.7
25.1
(147.7)
174.1
26.4
Balance at 31 March
2,717.9
(2,258.1)
459.8
2,750.3
(2,248.5)
501.8
23.5 Pension scheme contributions and costs Charges/(credits) recognised:
2026 2025
\u00a3m \u00a3m
Service costs (charged to operating profit)
15.8
19.7
(Credited)/charged to finance costs:
Interest from pension scheme assets
(154.0)
(141.3)
Interest on pension scheme liabilities
124.6
120.6
(29.4)
(20.7)
The return on pension scheme assets is as follows:
2026 2025
\u00a3m \u00a3m
Return/(loss) on pension scheme assets
120.2
(117.2)
Defined contribution scheme The total contribution paid by the Group to defined contribution pension schemes was \u00a3116.7m (2025: \u00a398.8m). Unfunded Unapproved Retirement Benefit Scheme (\u201cUURBS\u201d) pension costs The decrease during the year ended 31 March 2026 in relation to UURBS was \u00a37.2m (2025: decrease of \u00a33.6m). This is included in Employee related provisions (note 20 ). Staff costs analysis The pension costs in note 8 can be analysed as follows:
2026 2025
\u00a3m \u00a3m
Service costs
15.8
19.7
Defined contribution scheme payments
116.7
98.8
132.5
118.5
23.6 Pension scheme risk assessment and mitigation Risks to which the Pension Schemes exposes the Group The nature of the Group\u2019s defined benefit pension schemes expose the Group to the risk of paying unanticipated additional contributions to the schemes in times of adverse experience. The most financially significant risks are likely to be: (i) Asset volatility The liabilities are calculated using a discount rate set with reference to corporate bond yields; if assets underperform this yield, this will create a deficit. The schemes hold a proportion of growth assets (equities and property) which, though expected to outperform corporate bonds in the long term, create volatility and risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given the schemes\u2019 long term objectives. The Scottish Hydro Electric Pension Scheme has a much lower proportion of growth assets than the SSE Southern Pension Scheme reflecting the maturity of each scheme. (ii) Changes in bond yields A decrease in corporate bond yields will increase the value placed on the schemes\u2019 liabilities for accounting purposes. However, this will be partially offset by an increase in the value of the schemes\u2019 bond holdings and its interest rate hedging in both schemes. (iii) Inflation risk The majority of the schemes\u2019 benefit obligations are linked to inflation, and higher inflation will lead to higher liabilities (although, in most cases, caps on the level of inflationary increases are in place to protect against extreme inflation). However, this will be substantially offset by the inflation hedging in both schemes. (iv) Life expectancy The majority of the schemes\u2019 obligations are to provide benefits for the life of the members, so an increase in the life expectancy will result in an increase in the liabilities. The sensitivity analysis disclosed is intended to provide an indication of the impact on the value of the schemes\u2019 liabilities of the risks highlighted. (v) Liability versus asset risk The risk that movement in the value of the schemes\u2019 liabilities are not met by corresponding movements in the value of the schemes\u2019 assets will expose the Group to movements in the overall funding surplus. 23.7 Risk mitigation (i) De-risking The trustees have taken a number of steps to control the level of investment risk including reducing the Schemes\u2019 exposures to higher risk assets and increasing the level of protection against adverse movements in interest rates and inflation. The trustees of both schemes continue to review the risk exposures in light of the longer term objectives of the respective schemes, including consideration of the impact of climate- related risk. Detailed below are further details on the hedging of pensioner longevity risk. (ii) Asset buy-in The Scottish Hydro Electric Pension Scheme entered into two asset buy-in insurance policies in 2018 and 2019 which covered all pensions in payment prior to 1 October 2019. These asset buy-ins are valued under the accounting principles of IFRS 13 and are considered a Level 3 instrument in the fair value hierarchy. The Group has now insured against volatility in obligations related to all pensioners who retired before 1 October 2019 to third parties (insurer PIC) and is now only exposed to valuation fluctuations related to active and deferred members and any members who retired after 1 October 2019. (iii) Asset-liability matching strategies used by the Scheme The Group and trustees of the schemes have agreed a long term investment strategy that seeks to reduce investment risk as and when appropriate. The asset-liability matching strategy is part of this approach which aims to reduce the volatility of the funding level of the pension schemes by investing in assets which perform in line with the liabilities of the schemes so as to protect against inflation being higher than expected. This has been adopted for a proportion of the schemes\u2019 assets, which is designed to provide partial protection against adverse movements in interest rates and inflation. The trustees of the respective schemes review the schemes\u2019 asset allocation on an ongoing basis in light of changes in the funding position and market opportunities. 23.8 Risk assessment (i) Maturity profile of the defined benefit obligations The weighted average duration of the defined benefit obligation is 11 years (2025: 12 years) for the Scottish Hydro Electric Pension Scheme and 12 years (2025: 12 years) for the SSE Southern Pension Scheme. (ii) Information about the defined benefit obligations Status of members is weighted by the liabilities of each scheme
Scottish Hydro
Electric SSE Southern
% %
Active members
17
11
Deferred members
12
7
Pensioners
71
82
100
100
23.9 Pension scheme policies (i) Recognition of gains and losses The Group recognises actuarial gains and losses in the statement of other comprehensive income following the re-measurement of the net defined benefit liabilities of the schemes. (ii) Methods and assumptions used in preparing the sensitivity analyses The sensitivities disclosed are calculated using approximate methods taking into account the duration of the schemes\u2019 liabilities. While these have been calculated consistently with the previous financial year, the method applied may change over time with financial conditions and assumptions. (iii) Asset recognition The Group has recognised net pension assets in relation to the Scottish Hydro Electric and SSE Southern pension schemes due to a surplus existing under IAS 19 accounting. The Group will only recognise a surplus should it have rights to that surplus under the rules of the pension scheme. The Group no longer applies the \u201casset ceiling\u201d restriction mandated by IFRIC 14. Details on this key accounting consideration are provided above. (iv) Fair value assessment of scheme assets The Group seeks to assess whether there is a quotable market value (referenced as \u201cquotable\u201d above) in relation to pension scheme assets held. This assessment is based on regular reviews conducted in conjunction with the trustees of the schemes. For assets where no quotable market value exists, these assets will be valued based on a set methodology agreed by trustees and scheme advisors and then regularly assessed. Currently only one unquotable value exists within the two pension schemes of the Group, this being qualifying insurance contracts (or \u201cbuy-in\u201d) held by the Scottish Hydro Electric Pension Scheme. These assets are currently valued consistently with the scheme\u2019s liabilities with the expected return on these assets being set equal to the discount rate.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-700": { "value": "The Group has two funded final salary pension schemes which provide defined benefits based on final pensionable pay. The schemes are subject to independent valuations at least every three years. The future benefit obligations are valued by actuarial methods based on an appropriate assessment of the relevant parameters. The Group provides pension benefits to most UK colleagues through SSE Pensions+, a defined contribution master trust agreement with Aviva. The Group generally matches employee contributions up to 6%, and provides additional contributions of 3% after two years and a further 3% after ten years continuous Group service. The Group also operates other pension arrangements, including a defined contribution master trust agreement with Zurich in the Republic of Ireland and an Unfunded Unapproved Retirement Benefit Scheme. The Group presents its pension scheme valuations under two different measurement bases, a formal actuarial valuation and an IAS 19 valuation as required by accounting standards. The IAS 19 valuation is used to determine the assets and obligations recognised in the Group\u2019s consolidated balance sheet and is calculated annually by scheme actuaries, whereas the formal actuarial valuation is used to determine the contributions the Group makes to each scheme. The actuarial valuation is recalculated for each scheme every three years. Actuarial valuations The individual pension scheme details based on the latest formal actuarial valuations are as follows:
Scottish Hydro Electric
SSE Southern
Latest formal actuarial valuation
31 March 2024
31 March 2025
Valuation carried out by
Hymans Robertson
Aon
Value of assets based on valuation
\u00a31,376.3m
\u00a31,525.4m
Value of liabilities based on valuation
\u00a31,146.1m
\u00a31,524.3m
Valuation method adopted
Projected Unit
Projected Unit
Average salary increase
RPI+0.25%
RPI+0.25%
Average pension increase
RPI
RPI
Value of fund assets/accrued benefits
120.1%
100.1%
Future contributions Scottish Hydro Electric Pension Scheme The last triennial actuarial valuation of the scheme was carried out at 31 March 2024 and showed a surplus of \u00a3230.2m on a projected unit basis. Following this valuation, the Group agreed to a new schedule of contributions which does not require contributions to be paid to the scheme, unless there is a sustained deficit for two successive quarters on the trustees\u2019 long term funding basis. Consequently, the Group has not made contributions to the scheme in the year ending 31 March 2026 and does not expect to make any contributions during the year ended 31 March 2027. The next triennial funding valuation will be carried out as at 31 March 2027. SSE Southern Group of the Electricity Supply Pension Scheme The last triennial actuarial valuation of the scheme was carried out at 31 March 2025 and showed a surplus of \u00a31.1m on a projected unit basis. Following this valuation, the Group agreed to a new schedule of contributions which provides for contributions to be paid in respect of current accrual and expenses only. The next funding valuation will be carried out as at 31 March 2028. Total contributions of approximately \u00a37.7m are expected to be paid by the Group during the year ending on 31 March 2027, which includes the final deficit payment made under the previous recovery plan of \u00a31.3m in April 2026. During the year ending 31 March 2026, the Group paid deficit contributions of \u00a316.0m (2025: \u00a315.5m). Pension summary as measured under IAS 19:
Net actuarial (loss)/gain
recognised in respect of the
pension asset in the statement
Scheme type
of comprehensive income
Net pension asset
2026 2025 2026 2025
\u00a3m \u00a3m \u00a3m \u00a3m
Scottish Hydro Electric
Defined benefit
(2.1)
7.7
364.3
353.7
SSE Southern
Defined benefit
(78.6)
45.1
95.5
148.1
(80.7)
52.8
459.8
501.8
IFRIC 14 surplus restrictions As a result of the Group and the trustees to the Scottish Hydro Electric Pension Scheme agreeing in 2016/17 to an amendment to the scheme rules to clarify that the Company has a clear right to any surplus upon final winding up of the scheme, there are no restrictions on recognition of the scheme surplus. The net pension asset of the Scottish Hydro Electric Scheme at 31 March 2026 was \u00a3364.3m (2025: \u00a3353.7m). At 31 March 2026, the SSE Southern Pension Scheme has a net surplus of \u00a395.5m (2025: \u00a3148.1m), and unrecognised future contributions of \u00a37.7m (2025: \u00a332.0m). The Group has assessed that it has the right to recognise the current and any future surpluses on the scheme, therefore has not recognised a liability for future unrecoverable contributions. Other matters In July 2024 the Court of Appeal upheld the 16 June 2023 High Court ruling in respect of Virgin Media v NTL Pension Trustees II Limited (and others) calling into question the validity of rule amendments made to defined benefit pension schemes contracted-out on a Reference Scheme Test basis between 6 April 1997 and 5 April 2016. Relevant amendments to these pension schemes over this time required confirmation from the Scheme Actuary that the Reference Scheme Test would continue to be met. In the absence of such a confirmation, the Rule amendment would be void. In May 2026, the UK Government introduced legislation as part of the Pension Schemes Act 2026 to enable pension schemes to retrospectively obtain written actuarial confirmation that historic benefit changes met the necessary standards. Any subsequent developments are being monitored by the Group and the pension scheme trustees. The defined benefit obligation for the Group\u2019s schemes has been calculated on the basis of the pension benefits currently being administered. 23.1 Pension scheme assumptions Both schemes have been updated to 31 March 2026 by qualified independent actuaries. The valuations have been prepared for the purposes of meeting the requirements of IAS 19. The major assumptions used by the actuaries in both schemes were:
At 31 March At 31 March
2026 2025
Rate of increase in pensionable salaries
3.5%
3.3%
Rate of increase in pension payments
3.3%
3.0%
Discount rate
6.2%
5.8%
Inflation rate
3.3%
3.0%
The assumptions relating to longevity underlying the pension liabilities at 31 March 2026 are based on standard actuarial mortality tables, and include an allowance for future improvements in longevity. The assumptions, equivalent to future longevity for members in normal health at age 65, are as follows: Scottish Hydro Electric
At 31 March 2026
At 31 March 2025
Male
Female
Male
Female
Currently aged 65
22
24
22
24
Currently aged 45
23
26
24
26
SSE Southern
At 31 March 2026
At 31 March 2025
Male
Female
Male
Female
Currently aged 65
23
25
22
25
Currently aged 45
24
26
24
25
23.2 Sensitivity analysis The impact on the schemes\u2019 liabilities of changing certain of the major assumptions is as follows: Scottish Hydro Electric
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Discount rate
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Longevity
1 year
+/\u2013 1.9%
1 year
+/\u2013 1.9%
SSE Southern
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Discount rate
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Longevity
1 year
+/\u2013 3.2%
1 year
+/\u2013 3.0%
23.3 Valuation of combined pension schemes
Value at Value at
Quoted Unquoted 31 March 2026 Quoted Unquoted 31 March 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Equities
148.7
\u2013
148.7
173.2
\u2013
173.2
Government bonds
998.3
\u2013
998.3
1,180.6
\u2013
1,180.6
Insurance contracts
(i)
\u2013
4 3 2 . 4
4 3 2 . 4
\u2013
454.4
454.4
Other investments
1,138.5
\u2013
1,138.5
942.1
\u2013
942.1
Total fair value of plan assets
2,285.5
432.4
2,717.9
2,295.9
454.4
2,750.3
Present value of defined benefit obligation
(2,258.1)
(2,248.5)
Surplus in the schemes
459.8
501.8
Deferred tax thereon
(ii)
(115.0)
(125.5)
Net pension asset
344.8
376.3
(i) See details of valuations of insurance contracts in note 23.7(ii). (ii) Deferred tax rate of 25% (2025: 25%) applied to net pension surplus position.
23.4 Movements in the combined defined benefit assets and obligations during the year
2026
2025
Assets Obligations Total Assets Obligations Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
2,750.3
(2,248.5)
501.8
3,015.2
(2,593.6)
421.6
Included in income statement
Current service cost
\u2013
(14.4)
(14.4)
\u2013
(15.0)
(15.0)
Past service cost
\u2013
(1.4)
(1.4)
\u2013
( 4 . 7 )
( 4 . 7 )
Interest income/(cost)
154.0
(124.6)
29.4
141.3
(120.6)
20.7
154.0
(140.4)
13.6
141.3
(140.3)
1.0
Included in other comprehensive income
Actuarial (loss)/gain arising from:
Demographic assumptions
\u2013
(11.2)
(11.2)
\u2013
20.9
20.9
Financial assumptions
\u2013
46.5
46.5
\u2013
288.5
288.5
Experience assumptions
\u2013
(82.2)
(82.2)
\u2013
1 . 9
1 . 9
Return on plan assets excluding interest income
(33.8)
\u2013
(33.8)
(258.5)
\u2013
(258.5)
(33.8)
(46.9)
(80.7)
(258.5)
311.3
52.8
Other
Contributions paid by the employer
26.5
\u2013
26.5
26.4
\u2013
26.4
Scheme participant\u2019s contributions
0.1
(0.1)
\u2013
0.1
(0.1)
\u2013
Benefits paid
(179.2)
177.8
(1.4)
(174.2)
174.2
\u2013
(152.6)
177.7
25.1
(147.7)
174.1
26.4
Balance at 31 March
2,717.9
(2,258.1)
459.8
2,750.3
(2,248.5)
501.8
23.9 Pension scheme policies
(i) Recognition of gains and losses
The Group recognises actuarial gains and losses in the statement of other comprehensive income following the re-measurement of the net
defined benefit liabilities of the schemes.
(ii) Methods and assumptions used in preparing the sensitivity analyses
The sensitivities disclosed are calculated using approximate methods taking into account the duration of the schemes\u2019 liabilities. While these
have been calculated consistently with the previous financial year, the method applied may change over time with financial conditions and
assumptions.
(iii) Asset recognition
The Group has recognised net pension assets in relation to the Scottish Hydro Electric and SSE Southern pension schemes due to a surplus
existing under IAS 19 accounting. The Group will only recognise a surplus should it have rights to that surplus under the rules of the pension
scheme. The Group no longer applies the \u201casset ceiling\u201d restriction mandated by IFRIC 14. Details on this key accounting consideration are
provided above.
(iv) Fair value assessment of scheme assets
The Group seeks to assess whether there is a quotable market value (referenced as \u201cquotable\u201d above) in relation to pension scheme assets held.
This assessment is based on regular reviews conducted in conjunction with the trustees of the schemes. For assets where no quotable market
value exists, these assets will be valued based on a set methodology agreed by trustees and scheme advisors and then regularly assessed.
Currently only one unquotable value exists within the two pension schemes of the Group, this being qualifying insurance contracts (or \u201cbuy-in\u201d)
held by the Scottish Hydro Electric Pension Scheme. These assets are currently valued consistently with the scheme\u2019s liabilities with the
expected return on these assets being set equal to the discount rate.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-733": { "value": "23.2 Sensitivity analysis The impact on the schemes\u2019 liabilities of changing certain of the major assumptions is as follows: Scottish Hydro Electric
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Discount rate
0.1%
+/\u2013 0.6%
0.1%
+/\u2013 0.6%
Longevity
1 year
+/\u2013 1.9%
1 year
+/\u2013 1.9%
SSE Southern
At 31 March 2026
At 31 March 2025
Increase/ Effect on Increase/ Effect on
decrease in scheme\u2019s decrease in scheme\u2019s
assumption liabilities assumption liabilities
Rate of increase in pensionable salaries
0.1%
+/\u2013 0.1%
0.1%
+/\u2013 0.1%
Rate of increase in pension payments
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Discount rate
0.1%
+/\u2013 1.1%
0.1%
+/\u2013 1.2%
Longevity
1 year
+/\u2013 3.2%
1 year
+/\u2013 3.0%
", "dimensions": { "concept": "ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-759": { "value": "23.4 Movements in the combined defined benefit assets and obligations during the year
2026
2025
Assets Obligations Total Assets Obligations Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April
2,750.3
(2,248.5)
501.8
3,015.2
(2,593.6)
421.6
Included in income statement
Current service cost
\u2013
(14.4)
(14.4)
\u2013
(15.0)
(15.0)
Past service cost
\u2013
(1.4)
(1.4)
\u2013
( 4 . 7 )
( 4 . 7 )
Interest income/(cost)
154.0
(124.6)
29.4
141.3
(120.6)
20.7
154.0
(140.4)
13.6
141.3
(140.3)
1.0
Included in other comprehensive income
Actuarial (loss)/gain arising from:
Demographic assumptions
\u2013
(11.2)
(11.2)
\u2013
20.9
20.9
Financial assumptions
\u2013
46.5
46.5
\u2013
288.5
288.5
Experience assumptions
\u2013
(82.2)
(82.2)
\u2013
1 . 9
1 . 9
Return on plan assets excluding interest income
(33.8)
\u2013
(33.8)
(258.5)
\u2013
(258.5)
(33.8)
(46.9)
(80.7)
(258.5)
311.3
52.8
Other
Contributions paid by the employer
26.5
\u2013
26.5
26.4
\u2013
26.4
Scheme participant\u2019s contributions
0.1
(0.1)
\u2013
0.1
(0.1)
\u2013
Benefits paid
(179.2)
177.8
(1.4)
(174.2)
174.2
\u2013
(152.6)
177.7
25.1
(147.7)
174.1
26.4
Balance at 31 March
2,717.9
(2,258.1)
459.8
2,750.3
(2,248.5)
501.8
(iv) Fair value assessment of scheme assets The Group seeks to assess whether there is a quotable market value (referenced as \u201cquotable\u201d above) in relation to pension scheme assets held. This assessment is based on regular reviews conducted in conjunction with the trustees of the schemes. For assets where no quotable market value exists, these assets will be valued based on a set methodology agreed by trustees and scheme advisors and then regularly assessed. Currently only one unquotable value exists within the two pension schemes of the Group, this being qualifying insurance contracts (or \u201cbuy-in\u201d) held by the Scottish Hydro Electric Pension Scheme. These assets are currently valued consistently with the scheme\u2019s liabilities with the expected return on these assets being set equal to the discount rate.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-701": { "value": "
23.5 Pension scheme contributions and costs
Charges/(credits) recognised:
2026 2025
\u00a3m \u00a3m
Service costs (charged to operating profit)
15.8
19.7
(Credited)/charged to finance costs:
Interest from pension scheme assets
(154.0)
(141.3)
Interest on pension scheme liabilities
124.6
120.6
(29.4)
(20.7)
The return on pension scheme assets is as follows:
2026 2025
\u00a3m \u00a3m
Return/(loss) on pension scheme assets
120.2
(117.2)
Defined contribution scheme
The total contribution paid by the Group to defined contribution pension schemes was \u00a3116.7m (2025: \u00a398.8m).
Unfunded Unapproved Retirement Benefit Scheme (\u201cUURBS\u201d) pension costs
The decrease during the year ended 31 March 2026 in relation to UURBS was \u00a37.2m (2025: decrease of \u00a33.6m). This is included in Employee
related provisions (note 20
).
Staff costs analysis
The pension costs in note 8
can be analysed as follows:
2026 2025
\u00a3m \u00a3m
Service costs
15.8
19.7
Defined contribution scheme payments
116.7
98.8
132.5
118.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-771": { "value": "23.5 Pension scheme contributions and costs Charges/(credits) recognised:
2026 2025
\u00a3m \u00a3m
Service costs (charged to operating profit)
15.8
19.7
(Credited)/charged to finance costs:
Interest from pension scheme assets
(154.0)
(141.3)
Interest on pension scheme liabilities
124.6
120.6
(29.4)
(20.7)
The return on pension scheme assets is as follows:
2026 2025
\u00a3m \u00a3m
Return/(loss) on pension scheme assets
120.2
(117.2)
Defined contribution scheme The total contribution paid by the Group to defined contribution pension schemes was \u00a3116.7m (2025: \u00a398.8m). Unfunded Unapproved Retirement Benefit Scheme (\u201cUURBS\u201d) pension costs The decrease during the year ended 31 March 2026 in relation to UURBS was \u00a37.2m (2025: decrease of \u00a33.6m). This is included in Employee related provisions (note 20 ). Staff costs analysis The pension costs in note 8 can be analysed as follows:
2026 2025
\u00a3m \u00a3m
Service costs
15.8
19.7
Defined contribution scheme payments
116.7
98.8
132.5
118.5
23.6 Pension scheme risk assessment and mitigation
Risks to which the Pension Schemes exposes the Group
The nature of the Group\u2019s defined benefit pension schemes expose the Group to the risk of paying unanticipated additional contributions to the
schemes in times of adverse experience. The most financially significant risks are likely to be:
(i) Asset volatility
The liabilities are calculated using a discount rate set with reference to corporate bond yields; if assets underperform this yield, this will create a
deficit. The schemes hold a proportion of growth assets (equities and property) which, though expected to outperform corporate bonds in the
long term, create volatility and risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given the
schemes\u2019 long term objectives. The Scottish Hydro Electric Pension Scheme has a much lower proportion of growth assets than the SSE
Southern Pension Scheme reflecting the maturity of each scheme.
(ii) Changes in bond yields
A decrease in corporate bond yields will increase the value placed on the schemes\u2019 liabilities for accounting purposes. However, this will be
partially offset by an increase in the value of the schemes\u2019 bond holdings and its interest rate hedging in both schemes.
(iii) Inflation risk
The majority of the schemes\u2019 benefit obligations are linked to inflation, and higher inflation will lead to higher liabilities (although, in most cases,
caps on the level of inflationary increases are in place to protect against extreme inflation). However, this will be substantially offset by the
inflation hedging in both schemes.
(iv) Life expectancy
The majority of the schemes\u2019 obligations are to provide benefits for the life of the members, so an increase in the life expectancy will result in an
increase in the liabilities. The sensitivity analysis disclosed is intended to provide an indication of the impact on the value of the schemes\u2019
liabilities of the risks highlighted.
(v) Liability versus asset risk
The risk that movement in the value of the schemes\u2019 liabilities are not met by corresponding movements in the value of the schemes\u2019 assets will
expose the Group to movements in the overall funding surplus.
23.7 Risk mitigation
(i) De-risking
The trustees have taken a number of steps to control the level of investment risk including reducing the Schemes\u2019 exposures to higher risk
assets and increasing the level of protection against adverse movements in interest rates and inflation. The trustees of both schemes continue
to review the risk exposures in light of the longer term objectives of the respective schemes, including consideration of the impact of climate-
related risk. Detailed below are further details on the hedging of pensioner longevity risk.
(ii) Asset buy-in
The Scottish Hydro Electric Pension Scheme entered into two asset buy-in insurance policies in 2018 and 2019 which covered all pensions in
payment prior to 1 October 2019. These asset buy-ins are valued under the accounting principles of IFRS 13 and are considered a Level 3
instrument in the fair value hierarchy. The Group has now insured against volatility in obligations related to all pensioners who retired before
1 October 2019 to third parties (insurer PIC) and is now only exposed to valuation fluctuations related to active and deferred members and any
members who retired after 1 October 2019.
(iii) Asset-liability matching strategies used by the Scheme
The Group and trustees of the schemes have agreed a long term investment strategy that seeks to reduce investment risk as and when
appropriate. The asset-liability matching strategy is part of this approach which aims to reduce the volatility of the funding level of the pension
schemes by investing in assets which perform in line with the liabilities of the schemes so as to protect against inflation being higher than
expected. This has been adopted for a proportion of the schemes\u2019 assets, which is designed to provide partial protection against adverse
movements in interest rates and inflation. The trustees of the respective schemes review the schemes\u2019 asset allocation on an ongoing basis in
light of changes in the funding position and market opportunities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAnalysisOfPresentValueOfDefinedBenefitObligationThatDistinguishesNatureCharacteristicsAndRisksExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-734": { "value": "23.6 Pension scheme risk assessment and mitigation Risks to which the Pension Schemes exposes the Group The nature of the Group\u2019s defined benefit pension schemes expose the Group to the risk of paying unanticipated additional contributions to the schemes in times of adverse experience. The most financially significant risks are likely to be: (i) Asset volatility The liabilities are calculated using a discount rate set with reference to corporate bond yields; if assets underperform this yield, this will create a deficit. The schemes hold a proportion of growth assets (equities and property) which, though expected to outperform corporate bonds in the long term, create volatility and risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given the schemes\u2019 long term objectives. The Scottish Hydro Electric Pension Scheme has a much lower proportion of growth assets than the SSE Southern Pension Scheme reflecting the maturity of each scheme. (ii) Changes in bond yields A decrease in corporate bond yields will increase the value placed on the schemes\u2019 liabilities for accounting purposes. However, this will be partially offset by an increase in the value of the schemes\u2019 bond holdings and its interest rate hedging in both schemes. (iii) Inflation risk The majority of the schemes\u2019 benefit obligations are linked to inflation, and higher inflation will lead to higher liabilities (although, in most cases, caps on the level of inflationary increases are in place to protect against extreme inflation). However, this will be substantially offset by the inflation hedging in both schemes. (iv) Life expectancy The majority of the schemes\u2019 obligations are to provide benefits for the life of the members, so an increase in the life expectancy will result in an increase in the liabilities. The sensitivity analysis disclosed is intended to provide an indication of the impact on the value of the schemes\u2019 liabilities of the risks highlighted. (v) Liability versus asset risk The risk that movement in the value of the schemes\u2019 liabilities are not met by corresponding movements in the value of the schemes\u2019 assets will expose the Group to movements in the overall funding surplus. 23.7 Risk mitigation (i) De-risking The trustees have taken a number of steps to control the level of investment risk including reducing the Schemes\u2019 exposures to higher risk assets and increasing the level of protection against adverse movements in interest rates and inflation. The trustees of both schemes continue to review the risk exposures in light of the longer term objectives of the respective schemes, including consideration of the impact of climate- related risk. Detailed below are further details on the hedging of pensioner longevity risk. (ii) Asset buy-in The Scottish Hydro Electric Pension Scheme entered into two asset buy-in insurance policies in 2018 and 2019 which covered all pensions in payment prior to 1 October 2019. These asset buy-ins are valued under the accounting principles of IFRS 13 and are considered a Level 3 instrument in the fair value hierarchy. The Group has now insured against volatility in obligations related to all pensioners who retired before 1 October 2019 to third parties (insurer PIC) and is now only exposed to valuation fluctuations related to active and deferred members and any members who retired after 1 October 2019. (iii) Asset-liability matching strategies used by the Scheme The Group and trustees of the schemes have agreed a long term investment strategy that seeks to reduce investment risk as and when appropriate. The asset-liability matching strategy is part of this approach which aims to reduce the volatility of the funding level of the pension schemes by investing in assets which perform in line with the liabilities of the schemes so as to protect against inflation being higher than expected. This has been adopted for a proportion of the schemes\u2019 assets, which is designed to provide partial protection against adverse movements in interest rates and inflation. The trustees of the respective schemes review the schemes\u2019 asset allocation on an ongoing basis in light of changes in the funding position and market opportunities. 23.8 Risk assessment (i) Maturity profile of the defined benefit obligations The weighted average duration of the defined benefit obligation is 11 years (2025: 12 years) for the Scottish Hydro Electric Pension Scheme and 12 years (2025: 12 years) for the SSE Southern Pension Scheme. (ii) Information about the defined benefit obligations Status of members is weighted by the liabilities of each scheme
Scottish Hydro
Electric SSE Southern
% %
Active members
17
11
Deferred members
12
7
Pensioners
71
82
100
100
23.9 Pension scheme policies (i) Recognition of gains and losses The Group recognises actuarial gains and losses in the statement of other comprehensive income following the re-measurement of the net defined benefit liabilities of the schemes. (ii) Methods and assumptions used in preparing the sensitivity analyses The sensitivities disclosed are calculated using approximate methods taking into account the duration of the schemes\u2019 liabilities. While these have been calculated consistently with the previous financial year, the method applied may change over time with financial conditions and assumptions. (iii) Asset recognition The Group has recognised net pension assets in relation to the Scottish Hydro Electric and SSE Southern pension schemes due to a surplus existing under IAS 19 accounting. The Group will only recognise a surplus should it have rights to that surplus under the rules of the pension scheme. The Group no longer applies the \u201casset ceiling\u201d restriction mandated by IFRIC 14. Details on this key accounting consideration are provided above. (iv) Fair value assessment of scheme assets The Group seeks to assess whether there is a quotable market value (referenced as \u201cquotable\u201d above) in relation to pension scheme assets held. This assessment is based on regular reviews conducted in conjunction with the trustees of the schemes. For assets where no quotable market value exists, these assets will be valued based on a set methodology agreed by trustees and scheme advisors and then regularly assessed. Currently only one unquotable value exists within the two pension schemes of the Group, this being qualifying insurance contracts (or \u201cbuy-in\u201d) held by the Scottish Hydro Electric Pension Scheme. These assets are currently valued consistently with the scheme\u2019s liabilities with the expected return on these assets being set equal to the discount rate.", "dimensions": { "concept": "ifrs-full:DisclosureOfAdditionalInformationAboutDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-772": { "value": "
23.8 Risk assessment
(i) Maturity profile of the defined benefit obligations
The weighted average duration of the defined benefit obligation is 11 years (2025: 12 years) for the Scottish Hydro Electric Pension Scheme and
12 years (2025: 12 years) for the SSE Southern Pension Scheme.
(ii) Information about the defined benefit obligations
Status of members is weighted by the liabilities of each scheme
Scottish Hydro
Electric SSE Southern
% %
Active members
17
11
Deferred members
12
7
Pensioners
71
82
100
100
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutMaturityProfileOfDefinedBenefitObligationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-659": { "value": "
24. Financial instruments
For financial reporting purposes, the Group has classified derivative financial instruments into two categories, operating derivatives and
financing derivatives. Operating derivatives include all qualifying commodity contracts including those for power, gas, and carbon and the post-
day 1 fair value movements on non-government backed contracts for difference in SSE Renewables. Financing derivatives include all fair value
and cash flow interest rate hedges, non-hedge accounted (mark-to-market) interest rate derivatives, cash flow foreign exchange hedges and
non-hedge accounted foreign exchange contracts. Non-hedge accounted contracts are treated as held for trading.
The Group provides guarantees in respect of certain activities of former subsidiaries and to certain current joint venture investments.
As permitted by IFRS 17 \u201cInsurance Contracts\u201d, the Group elected to apply the valuation principles of IFRS 9 to these contracts.
24.1 Financial instruments \u2013 income statement
2026 2025
\u00a3m \u00a3m
Operating derivatives
Total result on operating derivatives
(i)
(24.5)
92.9
Less: amounts settled
(ii)
(127.5)
(141.9)
Movement in unrealised derivatives
(152.0)
(49.0)
Financing derivatives (and hedged items)
Total result on financing derivatives
(i)
(113.2)
63.6
Less: amounts settled
(ii)
131.1
(50.8)
Movement in unrealised derivatives
17.9
12.8
Financial guarantee liabilities
Total result on financial guarantee liabilities
(iii)
1.7
1.9
Net income statement impact
(132.4)
(34.3)
(i) Total result on derivatives in the income statement represents the total amounts credited (or charged) to the income statement in respect of operating and financial derivatives, and is shown
as certain re-measurements in note 7.
(ii) Amounts settled in the year represent the result on derivatives transacted which have matured or been delivered and have been included within the total result on derivatives, and is shown
as certain re-measurements in note 7.
(iii) Total result on financial guarantee liabilities in the income statement represents the total amounts credited or (charged) to the income statement in respect of the unwind of the financial
liabilities and recognition of new or expiring contracts.
The movement in unrealised operating derivative excludes a \u00a32.2m gain (2025: \u00a311.1m loss) on proprietary trades, which has been recognised in
the underlying profit of the Group.
24.2 Financial instruments \u2013 balance sheet
The derivative financial assets/(liabilities) are represented as follows:
2026 2025
Derivative \ufb01nancial assets \u00a3m \u00a3m
Non-current
193.9
63.5
Current
651.4
178.4
Total derivative assets
845.3
241.9
Derivative \ufb01nancial liabilities
Non-current
(289.2)
(167.7)
Current
(641.1)
(126.3)
Total derivative liabilities
(930.3)
(294.0)
Net derivative liability
(85.0)
(52.1)
The financial guarantee liabilities are represented as follows:
2026 2025
Financial guarantee liabilities \u00a3m \u00a3m
Non-current
(19.0)
(23.1)
Current
(2.4)
(2.4)
Total guarantee liabilities
(21.4)
(25.5)
Information on the Group\u2019s financial risk management and the fair value of financial instruments is available at A6 and A7 .
A7. Fair value of financial instruments
A7.1 Fair value of financial instruments within the Group
The fair values of the primary financial assets and liabilities of the Group together with their carrying values are as follows:
2026
2026
2026
2026
2025
2025
2025
2025
FVTPL/ Total carrying Amortised FVTPL/ Total carrying
Amortised cost
(i)
FVTOCI
(ii)
value Fair value
cost
(i)
FVTOCI
(ii)
value Fair value
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Current
Trade receivables
1,370.2
\u2013
1,370.2
1,370.2
1,480.2
\u2013
1,480.2
1,480.2
Other receivables
6.8
\u2013
6.8
6.8
6.6
\u2013
6.6
6.6
Cash collateral and
other deposits
25.3
\u2013
25.3
25.3
19.2
\u2013
19.2
19.2
Cash and cash equivalents
1,542.9
\u2013
1,542.9
1,542.9
1,090.5
\u2013
1,090.5
1,090.5
Derivative financial assets
\u2013
651.4
651.4
651.4
\u2013
178.4
178.4
178.4
2,945.2
651.4
3,596.6
3,596.6
2,596.5
178.4
2,774.9
2,774.9
Non-current
Unquoted equity
investments
\u2013
7.6
7.6
7.6
\u2013
8.8
8.8
8.8
Loan note receivable
220.0
\u2013
220.0
220.0
193.5
\u2013
193.5
193.5
Loans to associates and
jointly controlled entities
1,621.2
\u2013
1,621.2
1,621.2
1,510.3
\u2013
1,510.3
1,510.3
Derivative financial assets
\u2013
193.9
193.9
193.9
\u2013
63.5
63.5
63.5
1,841.2
201.5
2,042.7
2,042.7
1,703.8
72.3
1,776.1
1,776.1
4,786.4
852.9
5,639.3
5,639.3
4,300.3
250.7
4,551.0
4,551.0
Financial liabilities
Current
Trade payables
(898.7)
\u2013
(898.7)
(898.7)
(710.7)
\u2013
(710.7)
(710.7)
Outstanding liquid funds
(271.3)
\u2013
(271.3)
(271.3)
(82.5)
\u2013
(82.5)
(82.5)
Loans and borrowings
(iii)
(1,112.1)
(12.5)
(1,124.6)
(1,123.7)
(1,924.3)
28.8
(1,895.5)
(1,937.0)
Lease liabilities
(79.8)
\u2013
(79.8)
(79.8)
(68.5)
\u2013
(68.5)
(68.5)
Financial guarantee
liabilities
\u2013
(2.4)
(2.4)
(2.4)
\u2013
(2.4)
(2.4)
(2.4)
Derivative financial
liabilities
\u2013
(641.1)
(641.1)
(641.1)
\u2013
(126.3)
(126.3)
(126.3)
(2,361.9)
(656.0)
(3,017.9)
(3,017.0)
(2,786.0)
(99.9)
(2,885.9)
(2,927.4)
Non-current
Loans and borrowings
(iii)
(8,536.7)
(3.2)
(8,539.9)
(8,133.3)
(8,313.7)
59.8
(8,253.9)
(7,960.4)
Lease liabilities
(376.9)
\u2013
(376.9)
(376.9)
(386.5)
\u2013
(386.5)
(386.5)
Financial guarantee
liabilities
\u2013
(19.0)
(19.0)
(19.0)
\u2013
(23.1)
(23.1)
(23.1)
Derivative financial
liabilities
\u2013
(289.2)
(289.2)
(289.2)
\u2013
(167.7)
(167.7)
(167.7)
(8,913.6)
(311.4)
(9,225.0)
(8,818.4)
(8,700.2)
(131.0)
(8,831.2)
(8,537.7)
(11,275.5)
(967.4)
(12,242.9)
(11,835.4)
(11,486.2)
(230.9)
(11,717.1)
(11,465.1)
Net financial liabilities
(6,489.1)
(114.5)
(6,603.6)
(6,196.1)
(7,185.9)
19.8
(7,166.1)
(6,914.1)
(i) Financial assets and liabilities that are measured at amortised cost.
(ii) Financial assets and liabilities that are measured at either Fair Value through Profit and Loss (Derivative Financial Assets and Liabilities) or Fair Value through other comprehensive income
(Unquoted Equity Investments)
(iii) The fair value through profit or loss attributable to loans and borrowings totalling \u00a315.7m (2025: \u00a388.6m) relates to fair value hedges that are in place against the Group\u2019s loans
and borrowings. At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was
classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date.
A7.1.1 Basis of determining fair value Certain assets and liabilities have been classified and carried at amortised cost on inception in line with IFRS 9 criteria. The carrying value of these assets are approximately equivalent to fair value due to short term maturity aside from loans and borrowings which are subject to longer maturity dates. All other financial assets and liabilities are measured at either Fair Value through Profit and Loss (\u201cFVTPL\u201d) or Fair Value through Other Comprehensive Income (\u201cFVTOCI\u201d). Fair values for energy derivatives are based on unadjusted quoted market prices, where actively traded. For energy derivatives that are not actively traded, interest rate instruments, foreign currency hedge contracts and cross currency swap contracts associated with foreign currency denominated long term fixed rate debt, the fair values are determined by reference to closing rate market prices for similar instruments. Fair values for unquoted equity instruments are derived from venture capital or growth equity firm valuation statements. Fair values for financial guarantee contracts are equal to the premium or fee received/charged. The fair values are stated at a specific date and may be different from the amounts which will actually be paid or received on settlement of the instruments. The fair value of items such as property, plant and equipment, internally generated brands or the Group\u2019s customer base are not included as these are not considered financial instruments. A7.2 Fair value hierarchy The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable. \u2013 Level 1 fair value measurements are those derived from unadjusted quoted market prices for identical assets or liabilities. \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data.
2026
2025
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Energy derivatives
460.3
213.1
11.6
685.0
71.5
80.9
5.8
158.2
Interest rate derivatives
\u2013
116.8
\u2013
116.8
\u2013
6 8 . 9
\u2013
6 8 . 9
Foreign exchange derivatives
\u2013
4 3 . 5
\u2013
4 3 . 5
\u2013
1 4 . 8
\u2013
1 4 . 8
Unquoted equity investments
\u2013
\u2013
7 . 6
7 . 6
\u2013
\u2013
8 . 8
8 . 8
460.3
373.4
19.2
852.9
71.5
164.6
14.6
250.7
Financial liabilities
Energy derivatives
\u2013
( 7 8 7 . 8 )
( 5 6 . 1 )
( 8 4 3 . 9 )
\u2013
(80.8)
(81.3)
(162.1)
Interest rate derivatives
\u2013
(49.2)
\u2013
(49.2)
\u2013
(107.8)
\u2013
(107.8)
Foreign exchange derivatives
\u2013
(37.2)
\u2013
(37.2)
\u2013
( 2 4 . 1 )
\u2013
( 2 4 . 1 )
Loans and borrowings
*
\u2013
( 1 5 . 7 )
\u2013
( 1 5 . 7 )
\u2013
88.6
\u2013
88.6
\u2013
(889.9)
(56.1)
(946.0)
\u2013
(124.1)
(81.3)
(205.4)
* At 31 March 2025, the \u00a388.6m relates to fair value hedges that are in place against the Group\u2019s loans and borrowings and has been included in the table above within financial liabilities, as it is presented in loans and borrowings liabilities in the balance sheet. The table above excludes financial guarantee liabilities measured in accordance with IFRS 17. There were no significant transfers out of Level 1 into Level 2 and out of Level 2 into Level 1 during the current and prior year. There were no significant transfers out of Level 2 into Level 3 or out of Level 3 into Level 2 during the current and prior year. The Group has an Affiliate Contract for Difference (\u201cACfD\u201d) agreement with Seagreen Wind Energy Limited (\u201cSWEL\u201d) with a 5 year term. SWEL is a wholly owned subsidiary of Seagreen Holdco 1 Limited, a joint venture between the Group (49%) and TotalEnergies (25.5%) and PTT Exploration & Production Public Company Limited (PTTEPP) (25.5%) and TOTAL SE has an equivalent ACfD with SWEL. The Group also has some smaller commercial CfD arrangements with non-government third parties that are also classified as derivatives. The ACfD and the commercial CfDs meet the definition of financial instruments and are classified as Level 3 on the fair value hierarchy due to significant unobservable inputs in the determination of fair value. The fair value measurement impact in the income statement attributable to Level 3 CfDs was a gain of \u00a330.0m (2025: \u00a323.9m gain). The fair value was determined using the income approach with reference to future market prices which are beyond the liquid period in the forward market. The non-government CfDs were issued for \u00a3nil consideration, being the deemed transaction price. The Group has calculated that the contracts had a fair value on day 1, being the difference between the strike price per the contract and the forward market spot price. This valuation is based on unobservable inputs and is considered judgemental. Key assumptions applied when deriving the fair value are related to discount rates; electricity volumes; and electricity prices. In line with IFRS 9, the day 1 gain is deferred and will be recognised over the life of the contract.
The following table represents the difference between the Level 3 financial instruments at fair value at the start of the reporting period and at
the reporting date:
2026 2025
\u00a3m \u00a3m
Level 3 financial instrument fair value at 1 April
(66.7)
(97.6)
Additions
(3.4)
3.4
Transfer from financial assets
\u2013
4.6
Disposals in year
(2.9)
(0.1)
Cash settlement
(28.6)
(38.5)
Re-measurement gain recognised in income statement
37.4
5.2
Re-measurement loss recognised in other comprehensive income
0.1
(0.8)
Additions \u2013 new instruments entered in the year
(10.3)
342.3
Deferred day 1 gains on instruments entered in the year
10.3
(342.3)
Instruments derecognised in the year
\u2013
(342.0)
Deferred day 1 gains derecognised in the year
\u2013
370.7
Amortisation of day 1 gains in the year
27.2
28.4
Level 3 financial instrument fair value at 31 March
(36.9)
(66.7)
The following table details the valuation technique, significant unobservable inputs and the range of values for the energy derivatives measured
at fair value on a recurring basis and classified as Level 3.
Carrying value (net) Significant unobservable Market price range (min-
\u00a3m
Valuation technique
input max) \u00a3/MwH
Electricity prices,
31 March 2026
45.5
Discounted cash flow
Generation volumes 49 \u2013 100
Electricity prices,
31 March 2025
75.5
Discounted cash flow
Generation volumes 49 \u2013 99
Deferred measurement differences
2026 2025
\u00a3m \u00a3m
Deferred measurement difference at 1 April
356.7
413.5
Deferred measurement difference adjustment in the year
(5.0)
\u2013
Deferred measurement difference arising during the year on new instruments
(10.3)
342.3
Deferred measurement differences derecognised in the year
\u2013
(370.7)
Deferred measurement difference recognised during the year
(27.2)
(28.4)
Deferred measurement difference at 31 March
314.2
356.7
The following table shows the impact on the fair value of the Level 3 energy derivatives when applying reasonably possible alternative
assumptions to the valuation obtained using the discounted cash flow model.
At 31 March 2026
At 31 March 2025
Effect on fair Effect on fair
value of deferred value of deferred
Increase/ measurement Increase/ measurement
decrease in differences decrease in differences
Assumption assumption \u00a3m assumption \u00a3m
Discount rate
+1%/-1%
(10.6)/11.5
+1%/-1%
(12.8)/13.9
Volumes
+10%/-10%
28.4/(28.4)
+10%/-10%
26.5/(28.7)
Prices
+10%/-10%
115.1/(115.1)
+10%/-10%
87.5/(87.5)
A8. Hedge accounting
A8.1 Cash flow hedges
The Group designates qualifying derivative contracts as either as cash flow hedges or fair value hedges for hedge accounting purposes. Cash flow
hedges are used to hedge exposures to variability in cash flows from forecast transactions, primarily arising from changes in interest rates or
foreign currency exchange rates. The Group\u2019s accounting policy on hedge accounting is set out in the Accompanying Information section A1
.
Following adoption of IFRS 9 on 1 April 2019, the Group elected to continue to apply IAS 39 for hedge accounting. The Group will adopt the
hedge accounting requirements of IFRS 9 from 1 April 2026 to align its hedge accounting more closely with the Group\u2019s risk management
objectives. The impact of adoption is disclosed in note 2.2 .
The following table indicates the contractual maturity profile of forecast transactions and the associated qualifying cash flow hedging
instruments. Non-Sterling denominated contractual cash flows have been translated using the relevant forward foreign exchange rates.
2026
2026
2026
2026
2026
2026
2025
2025
2025
2025
2025
2025
Carrying Expected 0 \u2013 12 Carrying Expected 0 \u2013 12
amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Cash \ufb02ow hedges \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Interest rate swaps:
Assets
33.6
34.8
7.1
20.5
(13.8)
21.0
15.4
16.5
5.9
5.3
5.3
\u2013
Liabilities
(2.9)
(3.0)
\u2013
(0.4)
(14.3)
11.7
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
30.7
31.8
7.1
20.1
(28.1)
32.7
15.4
16.5
5.9
5.3
5.3
\u2013
Cross currency swaps:
Assets
62.2
85.9
16.2
(37.4)
(17.1)
124.2
32.7
48.5
7.9
7.2
(46.1)
79.5
Liabilities
(26.7)
(19.6)
(22.5)
(22.2)
(34.1)
59.2
(74.2)
(75.4)
(43.2)
(13.4)
(37.1)
18.3
35.5
66.3
(6.3)
(59.6)
(51.2)
183.4
(41.5)
(26.9)
(35.3)
(6.2)
(83.2)
97.8
Forward foreign exchange contracts:
Assets
41.9
3,011.6
435.9
1,913.4
642.9
19.4
9.6
584.8
292.9
133.5
158.4
\u2013
Liabilities
(34.6)
2,410.9
447.5
780.3
1,183.1
\u2013
(19.7)
861.1
234.8
182.2
444.1
\u2013
7.3
5,422.5
883.4
2,693.7
1,826.0
19.4
(10.1)
1,445.9
527.7
315.7
602.5
\u2013
A8.2 Net investment hedge
The Group\u2019s net investment hedge consists of debt issued in the same currency (\u20ac) as the net investment in foreign subsidiaries with \u20ac denominated
functional currencies being the Airtricity Supply business within Energy Customer Solutions, the thermal plants in Ireland and wind farms in
Ireland and Southern Europe. The hedge compares the element of the net assets whose functional cash flows are denominated in \u20ac to the
matching portion of the \u20ac borrowings held by the Group. This therefore provides protection against movements in foreign exchange rates.
There is no net investment hedge in relation to SSE Pacifico as the Group has no JPY denominated debt.
Gains and losses on the hedging instruments are recognised in equity and will be transferred to the income statement on disposal of the foreign
operation (2026: \u00a387.5m loss, 2025: \u00a336.0m gain). Gains and losses on the ineffective portion of the hedge relationship are recognised immediately
in the income statement (2026: \u00a3nil, 2025: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-702": { "value": "24. Financial instruments For financial reporting purposes, the Group has classified derivative financial instruments into two categories, operating derivatives and financing derivatives. Operating derivatives include all qualifying commodity contracts including those for power, gas, and carbon and the post- day 1 fair value movements on non-government backed contracts for difference in SSE Renewables. Financing derivatives include all fair value and cash flow interest rate hedges, non-hedge accounted (mark-to-market) interest rate derivatives, cash flow foreign exchange hedges and non-hedge accounted foreign exchange contracts. Non-hedge accounted contracts are treated as held for trading. The Group provides guarantees in respect of certain activities of former subsidiaries and to certain current joint venture investments. As permitted by IFRS 17 \u201cInsurance Contracts\u201d, the Group elected to apply the valuation principles of IFRS 9 to these contracts. 24.1 Financial instruments \u2013 income statement
2026 2025
\u00a3m \u00a3m
Operating derivatives
Total result on operating derivatives
(i)
(24.5)
92.9
Less: amounts settled
(ii)
(127.5)
(141.9)
Movement in unrealised derivatives
(152.0)
(49.0)
Financing derivatives (and hedged items)
Total result on financing derivatives
(i)
(113.2)
63.6
Less: amounts settled
(ii)
131.1
(50.8)
Movement in unrealised derivatives
17.9
12.8
Financial guarantee liabilities
Total result on financial guarantee liabilities
(iii)
1.7
1.9
Net income statement impact
(132.4)
(34.3)
(i) Total result on derivatives in the income statement represents the total amounts credited (or charged) to the income statement in respect of operating and financial derivatives, and is shown as certain re-measurements in note 7. (ii) Amounts settled in the year represent the result on derivatives transacted which have matured or been delivered and have been included within the total result on derivatives, and is shown as certain re-measurements in note 7. (iii) Total result on financial guarantee liabilities in the income statement represents the total amounts credited or (charged) to the income statement in respect of the unwind of the financial liabilities and recognition of new or expiring contracts. The movement in unrealised operating derivative excludes a \u00a32.2m gain (2025: \u00a311.1m loss) on proprietary trades, which has been recognised in the underlying profit of the Group. 24.2 Financial instruments \u2013 balance sheet The derivative financial assets/(liabilities) are represented as follows:
2026 2025
Derivative \ufb01nancial assets \u00a3m \u00a3m
Non-current
193.9
63.5
Current
651.4
178.4
Total derivative assets
845.3
241.9
Derivative \ufb01nancial liabilities
Non-current
(289.2)
(167.7)
Current
(641.1)
(126.3)
Total derivative liabilities
(930.3)
(294.0)
Net derivative liability
(85.0)
(52.1)
The financial guarantee liabilities are represented as follows:
2026 2025
Financial guarantee liabilities \u00a3m \u00a3m
Non-current
(19.0)
(23.1)
Current
(2.4)
(2.4)
Total guarantee liabilities
(21.4)
(25.5)
Information on the Group\u2019s financial risk management and the fair value of financial instruments is available at A6 and A7 . A8. Hedge accounting A8.1 Cash flow hedges The Group designates qualifying derivative contracts as either as cash flow hedges or fair value hedges for hedge accounting purposes. Cash flow hedges are used to hedge exposures to variability in cash flows from forecast transactions, primarily arising from changes in interest rates or foreign currency exchange rates. The Group\u2019s accounting policy on hedge accounting is set out in the Accompanying Information section A1 . Following adoption of IFRS 9 on 1 April 2019, the Group elected to continue to apply IAS 39 for hedge accounting. The Group will adopt the hedge accounting requirements of IFRS 9 from 1 April 2026 to align its hedge accounting more closely with the Group\u2019s risk management objectives. The impact of adoption is disclosed in note 2.2 . The following table indicates the contractual maturity profile of forecast transactions and the associated qualifying cash flow hedging instruments. Non-Sterling denominated contractual cash flows have been translated using the relevant forward foreign exchange rates.
2026
2026
2026
2026
2026
2026
2025
2025
2025
2025
2025
2025
Carrying Expected 0 \u2013 12 Carrying Expected 0 \u2013 12
amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Cash \ufb02ow hedges \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Interest rate swaps:
Assets
33.6
34.8
7.1
20.5
(13.8)
21.0
15.4
16.5
5.9
5.3
5.3
\u2013
Liabilities
(2.9)
(3.0)
\u2013
(0.4)
(14.3)
11.7
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
30.7
31.8
7.1
20.1
(28.1)
32.7
15.4
16.5
5.9
5.3
5.3
\u2013
Cross currency swaps:
Assets
62.2
85.9
16.2
(37.4)
(17.1)
124.2
32.7
48.5
7.9
7.2
(46.1)
79.5
Liabilities
(26.7)
(19.6)
(22.5)
(22.2)
(34.1)
59.2
(74.2)
(75.4)
(43.2)
(13.4)
(37.1)
18.3
35.5
66.3
(6.3)
(59.6)
(51.2)
183.4
(41.5)
(26.9)
(35.3)
(6.2)
(83.2)
97.8
Forward foreign exchange contracts:
Assets
41.9
3,011.6
435.9
1,913.4
642.9
19.4
9.6
584.8
292.9
133.5
158.4
\u2013
Liabilities
(34.6)
2,410.9
447.5
780.3
1,183.1
\u2013
(19.7)
861.1
234.8
182.2
444.1
\u2013
7.3
5,422.5
883.4
2,693.7
1,826.0
19.4
(10.1)
1,445.9
527.7
315.7
602.5
\u2013
A8.2 Net investment hedge The Group\u2019s net investment hedge consists of debt issued in the same currency (\u20ac) as the net investment in foreign subsidiaries with \u20ac denominated functional currencies being the Airtricity Supply business within Energy Customer Solutions, the thermal plants in Ireland and wind farms in Ireland and Southern Europe. The hedge compares the element of the net assets whose functional cash flows are denominated in \u20ac to the matching portion of the \u20ac borrowings held by the Group. This therefore provides protection against movements in foreign exchange rates. There is no net investment hedge in relation to SSE Pacifico as the Group has no JPY denominated debt. Gains and losses on the hedging instruments are recognised in equity and will be transferred to the income statement on disposal of the foreign operation (2026: \u00a387.5m loss, 2025: \u00a336.0m gain). Gains and losses on the ineffective portion of the hedge relationship are recognised immediately in the income statement (2026: \u00a3nil, 2025: \u00a3nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-660": { "value": "
25. Commitments and contingencies
25.1 Capital commitments
2026 2025
Capital expenditure \u00a3m \u00a3m
Contracted for but not provided
7,627.5
4,438.3
Contracted for but not provided capital commitments include the fixed contracted costs of the Group\u2019s major capital projects. In practice
contractual variations may arise on the final settlement of these contractual costs. The increase from the prior year relates primarily to
Transmission projects.
25.2 Contingent liabilities
Contingent liabilities for the Group solely relate to SSE plc, and have been disclosed within note 13 to the Company financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-735": { "value": "25.1 Capital commitments
2026 2025
Capital expenditure \u00a3m \u00a3m
Contracted for but not provided
7,627.5
4,438.3
Contracted for but not provided capital commitments include the fixed contracted costs of the Group\u2019s major capital projects. In practice contractual variations may arise on the final settlement of these contractual costs. The increase from the prior year relates primarily to Transmission projects. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-736": { "value": "25.2 Contingent liabilities Contingent liabilities for the Group solely relate to SSE plc, and have been disclosed within note 13 to the Company financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-635": { "value": "
A1. Basis of consolidation and material
accounting policies
A1.1 Basis of consolidation
The financial statements consolidate the results of the Company and
its subsidiaries together with the Group\u2019s share of the results and net
assets of its interests in joint arrangements and associates. Where
necessary to ensure consistency, the accounting policies of the
subsidiaries, joint arrangements or associates have been adjusted to
align to the accounting policies of the Group. Intra-Group balances
and any unrealised gains and losses or income and expenses arising
from Intra-Group transactions are eliminated in preparing the
consolidated financial statements. Unrealised gains and losses
arising from transactions with joint arrangements and associates are
eliminated to the extent of the Group\u2019s interest in the entity. Non-
controlling interests represent the equity in subsidiaries that is not
attributable, either directly or indirectly, to SSE plc shareholders.
Subsidiaries (Accompanying Information A3)
Subsidiaries are those entities controlled by the Group or the
Company. Control exists when the Group has the power, directly or
indirectly, to govern the financial and operating policies of an entity in
order to obtain variable returns from its activities. In assessing control,
potential voting rights that are currently exercisable or convertible are
taken into account. The financial statements of subsidiaries acquired
are consolidated in the financial statements of the Group from the
date that control commences until the date control ceases.
Transactions with non-controlling interests that relate to their
ownership interests and do not result in a loss of control are
accounted for as equity transactions.
Interests in joint arrangements and associates (note 16 and
Accompanying Information A3)
Joint arrangements, as defined by IFRS 11 \u201cJoint Arrangements\u201d,
are those arrangements that convey to two or more parties \u201cjoint
control\u201d. Joint control exists when decisions about the \u201crelevant
activities\u201d, being the financial, operational or strategic policies of the
arrangement, are made with the unanimous consent of the parties
sharing control. Whilst this assessment is principally focused on
any \u201creserved matters\u201d, being the material activities that typically
require all significant shareholders to approve, other contractual
agreements such as Power Purchase Agreements and Management
Services Agreements are also considered. The Group\u2019s investments
in joint arrangements are classified as either joint operations or joint
ventures depending on the investee\u2019s legal form and the investor\u2019s
contractual rights and obligations over the assets and liabilities of
the investee.
Associates are those investments over which the Group has
significant influence but neither control nor joint control.
The Group\u2019s interests in its joint operations are accounted for by
recognising its share of the assets, liabilities, revenue and expenses of
the operation. The Group\u2019s share of revenue from Greater Gabbard is
eliminated on consolidation due to the offtake agreement where the
Group purchases its share of the output from the arrangement.
The Group\u2019s joint ventures and associates are accounted for using the
equity method of accounting where the joint venture and associate
net investments (comprising both equity and long term loans) are
carried at historical cost plus the Group\u2019s share of post-acquisition
results, less any impairment in value. Where an impairment is
recognised against the carrying value of an investment, it is
recognised within the operating costs line of the consolidated
financial statements. For those investments that were formerly
subsidiaries of the Group, this will also include any fair value uplift
arising from loss of control. The Group recognises its share of the
results of these equity-accounted operations after tax and interest in
the income statement.
Foreign currencies The consolidated financial statements are presented in pounds Sterling, which is the functional currency of the parent. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured accordingly. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Any gain or loss arising on the restatement of such items is taken to the income statement as a finance cost, with the exception of exchange gains or losses on foreign currency borrowings that provide a hedge against a net investment in a foreign entity or exchange gains or losses incurred as part of a qualifying cash flow hedge. These exchange gains or losses are transferred to the translation reserve to the extent the hedge is effective. Non-monetary assets that are measured in terms of historical cost in a foreign currency are translated at the historic rate at the date of transaction. For the purpose of presenting the consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated into pounds Sterling at the balance sheet closing rate. The results of these operations are translated at the average rate in the relevant period. Exchange differences on retranslation of the opening net assets and the results of foreign operations are transferred to the translation reserve and are reported in the consolidated statement of comprehensive income. The average and spot rates for the principal functional currencies that the Group\u2019s foreign operations are denominated in are shown in the table below.
2026
2025
Change
EUR v GBP
Year end
1.1451
1.1938
(4.1)%
spot rate
Average
1.1544
1.1946
(3.4)%
spot rate
US$ v GBP
Year end
1.3216
1.2907
2.4%
spot rate
Average
1.3346
1.2915
3.3%
spot rate
JPY v GBP
Year end
210.0740
193.4770
8.6%
spot rate
Average
211.7950
192.5154
10.0%
spot rate
A1.2 Material accounting policies Revenue (note 5) Revenue from contracts with customers is recognised to the extent that it reflects the expected consideration for goods or services provided to the customer under contract, over the performance obligations they are being provided. For each separable performance obligation identified, the Group determines whether it is satisfied at a \u201cpoint in time\u201d or \u201cover time\u201d based upon an evaluation of the receipt and consumption of benefits, control of assets and enforceable payment rights associated with that obligation. If the criteria required for \u201cover time\u201d recognition are not met, the performance obligation is deemed to be satisfied at a \u201cpoint in time\u201d. Revenue principally arises as a result of the Group\u2019s activities in energy production, storage, transmission, distribution, supply and related services in the energy markets in Great Britain and Ireland. Where the Group earns income from an asset during the commissioning period, the income is recognised in the income statement as revenue in accordance with the relevant asset accounting policy set out below. Once in operation, depreciation will be charged over the expected useful life of the asset.
The key policies applied by each Business Unit are as follows:
Transmission
Use of electricity transmission networks
Revenue from use of electricity transmission networks is derived from
the allowed revenue as defined by the parameters in the relevant
electricity transmission licence, which informs the tariffs set.
Electricity transmission revenue is determined in accordance with the
regulatory licence, based on an Ofgem approved revenue model and
is recognised \u201cover time\u201d as charged to National Grid. Where this
revenue differs from the allowed revenue, there may be an over- or
under-recovery of revenue which will be reflected in future financial
years\u2019 allowed revenue as set out in the regulatory licence. No
accounting adjustments are made for over- or under-recoveries in
the year that they arise as they are contingent on future events (being
the transmission of electricity in a future period). The over or under
recovery adjustment is recognised in the subsequent period when
included within the tariffs that form allowed revenue under the
regulatory agreement.
Transmission network contracted services
Where the Group has an ongoing obligation to provide contracted
services (transmission network connections), revenues are recognised
\u201cover time\u201d consistent with the customer receiving and consuming
the benefits of that service across the expected contractual service
period. Any assets constructed in order to deliver the service are
capitalised and depreciated over their useful life. Payments are
typically received from customers in advance of providing the
contracted service and are deferred on balance sheet. No extended
warranty periods are offered.
Distribution
Use of electricity distribution networks
Revenue from use of electricity distribution networks is derived from
the allowed revenue as defined by the parameters in the relevant
electricity distribution licence, which informs the tariffs set.
Electricity distribution revenue is recognised based on the volume
of electricity distributed \u201cover time\u201d, as use of distribution service is
determined by the customer, and the set customer tariff. As with
electricity transmission revenue, any over- or under-recovery of
revenue is reflected in future financial years\u2019 allowed revenue as set
out in the regulatory licence. No accounting adjustments are made
for over- or under-recoveries in the year that they arise as they are
contingent on future events (being the distribution of electricity in a
future period). The over or under recovery adjustment is recognised
in the subsequent period when included within the tariffs that form
allowed revenue under the regulatory agreement.
Distribution network contracted services
Where the Group has an ongoing obligation to provide contracted
services (such as for distribution network connections), revenues are
recognised \u201cover time\u201d consistent with the customer receiving and
consuming the benefits of that service across the expected
contractual service period. Any assets constructed in order to deliver
the service are capitalised and depreciated over their useful life.
Payments are typically received from customers in advance of
providing the contracted service and are deferred on balance sheet.
The release of deferred income on customer or third party funded
additions is removed from the Group\u2019s Adjusted EBITDA measure.
No extended warranty periods are offered.
Renewables
Electricity generation
Revenue from the physical generation of electricity is recognised \u201cpoint
in time\u201d as generated and supplied to the national settlements body.
Revenue is measured at either the spot price at the time of delivery,
or trade price where that trade is eligible for \u201cown use\u201d designation.
Renewables contracted services
Revenue from national support schemes, such as Renewable
Obligation Certificates, is recognised at the point the performance
obligation has been met. This is typically considered to be either
at the point electricity has been physically generated or over the
contractual period, depending on the underlying performance
obligation. Revenue is measured either at the market rate at the point
of generation, or at the fixed contractual consideration, depending on
the individual scheme mechanic.
Revenue from other ancillary generation services is recognised \u201cover
time\u201d consistent with the customer receiving and consuming the
benefits of those services across the expected contractual service
period, and at the contracted consideration.
Thermal
Electricity generation
Revenue from the physical generation of electricity is recognised \u201cpoint
in time\u201d as generated and supplied to the national settlements body.
Revenue is measured at either the spot price at the time of delivery,
or trade price where that trade is eligible for \u201cown use\u201d designation.
Gas storage
Revenue from gas storage trading activities is recognised \u201cpoint in
time\u201d as injected back into the gas network. Revenue is measured at
the spot price at the time of delivery.
Thermal Generation contracted services
Revenue from national support schemes, such as the Capacity Market
mechanism, is recognised at the point the performance obligation
has been met. This is typically considered to be either at the point
electricity has been physically generated or over the contractual
period, depending on the underlying performance obligation.
Revenue is measured either at the market rate at the point of
generation, or at the fixed contractual consideration, depending on
the individual scheme mechanic.
Revenue from other ancillary generation services is recognised \u201cover
time\u201d consistent with the customer receiving and consuming the
benefits of those services across the expected contractual service
period, and at the contracted consideration.
Customers
Supply of energy
Revenue on the supply of energy comprises sales to domestic (in
Ireland) and business end-user customers (in GB and Ireland) is based
on actual energy consumption including an estimate of the value of
electricity and gas supplied to customers between the date of the last
meter reading and the year end. Revenue is recognised \u201cover time\u201d
consistent with the delivery of energy to the customer as the receipt
and consumption of the benefits of the energy is considered to be
simultaneous. Revenue is measured based on the applicable customer
tariff rate and after deduction of any applicable contractual discounts.
Details of the judgements involved in the estimation process for the
value of electricity and gas supplied to GB Business customers is
given within note 4.1(iii)
.
Payments from customers may be received in advance of providing
the contracted service and are deferred on balance sheet. Amounts
received from customers in relation to energy management services
provided by Third Party Intermediaries (\u201cTPIs\u201d) are offset against
payments to those TPIs, reflecting the responsibility for providing the
energy management service.
Energy related services
Where the Group has an ongoing obligation to provide contracted
energy related services, such as energy optimisation or maintenance
services, revenues are recognised \u201cover time\u201d consistent with the
customer receiving and consuming the benefits of that service across
the expected contractual service period at the fixed contracted rate.
Where the Group has an obligation to perform a specific service,
revenues are recognised \u201cpoint in time\u201d, following performance of the
service at the fixed contracted consideration. No extended warranty
periods are offered.
SSE Energy Markets
Commodity optimisation and other services
Income from sales commodity optimisation trading occurring in any
business unit is presented net in cost of sales alongside purchase
commodity optimisation trades. Revenue on physical power and gas
supplied is recognised \u201cpoint in time\u201d as delivered to the national
settlements body or third parties. Revenue is measured at either the
spot price at the time of delivery, or trade price where that trade is
eligible for \u201cown use\u201d designation.
Revenue arising on commodities purchased in excess of the Group\u2019s
requirements and recorded as inventory assets, such as Renewables
Obligation Certificates, REGOs or carbon allowances, is recognised
\u201cpoint in time\u201d on disposal of these inventory assets to third parties.
Revenue from other ancillary services is recognised \u201cover time\u201d
consistent with the customer receiving and consuming the benefits
of those services across the expected contractual service period, and
at the contracted consideration.
Aside from where specifically noted above, consideration is due
when the performance obligation has been satisfied. As the period
between satisfaction of the performance obligation and receipt of
consideration from the customer is expected to be less than a year,
the Group has applied the practical expedient not to adjust revenue
for the effect of any financing components.
Revenue from sources other than the Group\u2019s contracts with
customers principally comprise meter rental income included within
Corporate unallocated, and Contract for Difference income.
Income on meter rental agreements, which are classified as operating
leases, are presented as revenue where they relate to the core
operating activities of that business. Lease payments are recognised
as income on a straight-line basis over the lease term.
Other operating income \u2013 Government Grants (note 6)
Contracts for Difference (\u201cCfD\u201d) are agreements between a low
carbon electricity generator and the Low Carbon Contracts Company
(\u201cLCCC\u201d), a UK Government owned entity responsible for delivering
support mechanisms for low-carbon electricity generation. These
agreements are not considered to be contracts with a customer, as
the LCCC does not receive any goods or services from the generator.
These arrangements are instead considered to be Government
Grants, with income arising from these grants recognised in the
income statement in the period in which generation takes place. In
the year, the Group recognised no income or expense (2025: none)
related to Contracts for Difference with the LCCC within its wholly
owned subsidiaries. The Group\u2019s joint venture investment, Beatrice
Offshore Windfarm Limited, has a CfD with the LCCC which resulted
in payments from the LCCC of \u00a3250.7m in the year with SSE\u2019s share
of \u00a3100.3m recognised within share of profit (2025: \u00a3245.7m, with
SSE\u2019s share of \u00a398.3m recognised within share of profit). The Group\u2019s
wholly owned operational Viking wind farm and joint venture
investments Seagreen Wind Energy Limited, and Doggerbank A & B
also have a CfD arrangement in place with the LCCC. The LCCC
government agreements for Viking, Seagreen and Doggerbank are
not yet effective and as such no income or cost was recognised
during the year.
Where the CfD strike price falls below the spot price of generation and payments are made to the LCCC, these payments are expensed as incurred within operating costs. See \u201cfinancial instruments\u201d below for the Group\u2019s policy in relation to commercial Contracts for Difference. Presentation of grants related to assets Income received from Government towards the capital cost of an asset are deducted from the carrying value presented in the financial statements. Cost of sales (note 6) Cost of sales includes fuel and energy purchases, direct employee benefits, and depreciation of electricity generation property, plant and equipment. The net result from sales and purchases of commodity optimisation trades \u2013 comprising both realised and unrealised gains and losses arising from optimisation trading activities \u2013 is also presented within cost of sales, reflecting the underlying economic purpose of this trading activity. Finance income and costs (note 9) Interest income and costs are recognised in the income statement as they accrue, on an effective interest method. The issue costs and interest payable on bonds and all other interest payable and receivable is reflected in the income statement on the same basis. Interest on the funding attributable to major capital projects is capitalised during the period of construction and depreciated as part of the total cost over the useful life of the asset. The accounting policy for foreign exchange translation of monetary assets and liabilities is described on page 210 and for lease liability charges on page 215 . Taxation (note 10) Taxation on the profit for the year comprises current and deferred tax. Taxation is recognised in the income statement unless it relates to items recognised directly in equity, in which case it is recognised in other comprehensive income. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets or liabilities other than in business combinations that affect neither accounting nor taxable profit, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax assets and liabilities are offset where there is a legally enforceable right of offset within the same tax authority and where the Group intends to either settle them on a net basis, or to realise the asset and settle the liability simultaneously. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised. The Electricity Generator Levy (\u201cEGL\u201d) is effective for periods from 1 January 2023 to 31 March 2028, and the Group has assessed that the EGL has the characteristics of a levy rather than an income tax. The Group therefore recognises the costs associated with the levy for within cost of sales. Business Combinations (note 12) The acquisition of subsidiaries, and joint operations that meet the definition of a business, is accounted for under the acquisition method as defined by IFRS 3 \u201cBusiness Combinations\u201d. The cost of acquisition is measured as being the aggregate fair value of consideration to be transferred at the date control is obtained. Goodwill is measured at the acquisition date as the fair value of consideration transferred, plus non-controlling interests, less the net recognised amount (which is generally fair value) of the identifiable assets and liabilities assumed. Goodwill is subject to an annual review for impairment (or more frequently if necessary) in accordance with the Group\u2019s impairment accounting policy. Contingent consideration is classified as a liability and subsequently re-measured through the income statement. Acquisition costs are expensed as incurred. Changes in ownership that do not result in a change of control are accounted for as equity transactions. Held for sale assets and liabilities and discontinued operations Non-current assets are classified as held for sale if their recoverable value is likely to be recovered via a sale or distribution as opposed to continued use by the Group. In order to be classified as assets held for sale, assets must meet all of the following conditions: the sale is highly probable; it is available for immediate sale; it is being actively marketed; and the sale is likely to occur within one year. Assets that qualify as held for sale and related liabilities are disclosed separately from other assets and liabilities in the balance sheet prospectively from the date of classification. Non-current assets determined as held for sale are measured at the lower of carrying value and fair value less costs to sell, no depreciation is charged in respect of these assets after classification as held for sale. Assets or groups of assets and related liabilities that qualify as held for sale are classified as discontinued operations when they represent a separate major line of business or geographical area, are part of a single plan to dispose of a separate major line of business or geographical area or are acquired exclusively with a view to resale. Income and expenses relating to these discontinued operations are disclosed in a single net amount after taxes in the income statement, with comparative amounts re-presented accordingly. Intra-Group balances and any unrealised gains and losses or income and expenses arising from trading between continuing and discontinued operations continue to be eliminated in preparing the consolidated financial statements. Intangible assets (note 13) Goodwill and impairment testing Goodwill arising on a business combination represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of a subsidiary, associate or joint venture at the date of acquisition. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is reviewed for impairment at least on an annual basis. For the purpose of impairment testing, goodwill is allocated on initial recognition to the cash-generating units or groups of CGUs expected to benefit from the combination\u2019s synergies. The CGUs (or groups of CGUs) used for goodwill impairment testing purposes will represent how goodwill was attributed but may not represent reportable business segments. Goodwill may also arise upon investments in joint arrangements and associates. Goodwill arising on a joint operation is recorded as a separate asset and any impairment loss is recognised in the income statement. Goodwill arising on a joint venture or associate is recorded within the carrying amount of the Group\u2019s investment and any impairment loss is included within the share of result from joint ventures and associates. On disposal or closure of a previously acquired investment or business, any attributed goodwill will be included in determining the profit or loss on disposal. Allowances and certificates Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased obligations certificates. Carbon emissions allowances are held to settle environmental obligations incurred by the Group\u2019s SSE Thermal and Energy Customer Solutions businesses under regulated emissions trading schemes. The Group\u2019s UK generation assets operate under the UK Emissions Trading Scheme (\u201cUK ETS\u201d), while the Group retains an EU Emissions Trading Scheme (\u201cEU ETS\u201d) obligation in respect of its Irish Thermal generation assets. Carbon allowances purchased and held to settle emissions obligations are recognised at cost as intangible assets. Forward carbon contracts are treated as financial instruments and measured at fair value with gains or losses arising on re-measurement being recognised in the income statement. A liability is recognised based on the level of emissions recorded. Up to the level of allowances held, including forward carbon contracts, the liability is measured at the cost of purchase. When the carbon emission liability exceeds the carbon allowances held, the difference is measured at market value of carbon allowances. Subsequent movements in market value are prospectively recognised in operating profit. The carbon allowance intangible asset is surrendered at the end of the compliance period to the extent requested reflecting the consumption of the economic benefit and is recorded as being utilised. As a result, no amortisation is booked but an impairment charge may be recognised should the carrying value of allowances exceed prevailing market price. Under the Renewable Obligations Certificates (\u201cROCs\u201d) scheme, certificates obtained from own generation are awarded by a third party, Ofgem. ROCs can be traded with third parties and are used by suppliers to demonstrate to Ofgem that they have met their obligation to source a set proportion of supplied electricity from renewable sources. The value of a ROC to a supplier comprises two elements: the \u201cbuy-out\u201d price which is set annually in advance of the compliance period by Ofgem; and the \u201crecycle\u201d price which is determined after the compliance period by Ofgem. The recycle price element is estimated at the balance sheet date based on assumptions around likely levels of renewable generation and supply over the remaining compliance period and is therefore subject to possible future variation. 213 Where ROCs are self-generated or purchased to fulfil the Group\u2019s liability under the renewable obligation, they are recorded at market value at the point of generation or purchased cost within intangible assets. The Group can hold ROCs in excess of its obligation, which, due to limited evidence of liquidity or net settlement for ROC trades, are recorded at the lower of cost or net realisable value within inventories. Similarly, the fair value of any forward contracts entered into at the balance sheet date for the purchase or sale of ROCs in future periods are not recognised, as there is insufficient liquidity for net settlement. The Group\u2019s liability under the renewable obligation is recognised based on electricity supplied to customers, the obligation level set by Ofgem and the prevailing market price. The Group\u2019s Energy Customer Solutions segment holds Renewable Energy Guarantees of Origin certificates (\u201cREGOs\u201d) to meet contractual customer supply requirements relating to renewable electricity origin. REGOs are procured from third parties or generated by the Group\u2019s Renewable accredited assets and retained for surrender under the scheme. REGO certificates that are held to be surrendered are recorded as intangible assets at the prevailing market rate in line with the external obligation. Excess REGO certificates held by the Group are held in inventories at the lower of cost or net realisable value. The ROC and REGO intangible assets are surrendered at the end of the compliance period reflecting the consumption of economic benefit and release of the associated liability. As a result, no amortisation is recorded during the period. Research and development Expenditure on research activities is charged to the income statement as incurred. Expenditure on development activities is capitalised as intangible assets if the project or process is considered to be technically and commercially feasible and the Group intends to complete the project or process for use or for sale. Development projects include wind farm developments, battery storage and solar developments, thermal generation projects and other developments relating to proven technologies. Costs incurred in bringing these projects to the consent stage include options over land rights, planning application costs and environmental impact studies and may be costs incurred directly or part of the fair value exercise on acquisition of an interest in a project. At the point that the project reaches the consent stage and is approved by the Board, the carrying value of the project is transferred to property, plant and equipment as assets under construction. Revenue and costs incurred through pre-commissioning testing activities are reflected in the income statement. Once in operation, depreciation will be charged over the expected useful life of the asset. The asset is derecognised on disposal, or when no future economic benefits are expected to arise.
Software assets
Software assets that have been acquired separately by the Group are
stated at cost less accumulated amortisation and impairment losses.
Expenditure on internally developed software assets and application
software licences includes contractors\u2019 fees and directly attributable
labour and overheads. Amortisation is charged to the income
statement on a straight-line basis over the estimated useful life of
these assets. The amortisation periods utilised are as follows:
Years
Developed software assets and application
software licences
3\u201315
The useful lives of all the intangible assets are reviewed annually and
amended, as required, on a prospective basis. Intangible assets are
derecognised on disposal, or when no future economic benefits are
expected from their use.
Cloud computing arrangements
The Group has contracts for Software as a Service (\u201cSaaS\u201d) and
Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements.
Where the Group does not control the underlying assets in these
arrangements, costs are expensed as incurred. Implementation costs
in respect of these contracts are capitalised when the definition and
recognition criteria of an intangible asset under IAS 38 are met.
Property, plant and equipment (note 14)
Owned assets
Items of property, plant and equipment are stated at cost less
accumulated depreciation and impairments. The cost of self-
constructed assets includes the cost of materials, direct labour and
other directly attributable costs. Where the asset is a qualifying asset,
for which a considerable period of time is required to prepare the
asset for use or sale, borrowing costs will be capitalised as part of
the asset\u2019s cost. Where an item of property, plant and equipment
comprises major components having different useful lives, the
components are accounted for as separate items of property, plant
and equipment, and depreciated accordingly. An item of property,
plant and equipment is derecognised on disposal or when no future
economic benefits are expected to arise from the continued use of
the asset.
Right of use assets
Right of use assets are measured at cost, less any accumulated
depreciation and impairment losses, and adjusted for any
re-measurement of lease liabilities. The cost of right of use assets
includes the amount of lease liabilities recognised, initial direct costs
incurred, and lease payments made at or before the commencement
date less any lease incentives received. Where a modification to a
lease agreement decreases the scope of the lease, the carrying
amount of the right of use asset is adjusted and a gain or loss is
recognised in proportion to the decrease in scope of the lease.
All other modifications to lease agreements are accounted for as a
reassessment of the lease liability with a corresponding adjustment to
the right of use asset.
Hydro civil assets The Group is obliged under the Reservoirs Act 1975 to maintain its hydro infrastructure network, including its dams, tunnels and other hydro civil engineering structures (hydro civil assets). All items of property, plant and equipment within hydro civil assets, with the exception of land, are subject to depreciation. In accordance with the transition provisions of IFRS 1 \u201cFirst-time Adoption of IFRS\u201d, the Group identified the carrying value of these assets at privatisation and has treated this value as deemed cost. Following this assessment, the assets, and all subsequent enhancement and replacement expenditure, has been subject to depreciation over a useful economic life of between 75 and 100 years. All subsequent maintenance expenditure is chargeable directly to the income statement. Depreciation Depreciation is charged to the income statement to write off cost, less residual values, on a straight line basis over their estimated useful lives. Heritable and freehold land is not depreciated. Depreciation policy, useful lives and residual values are reviewed at least annually, for all asset classes to ensure that the current method is the most appropriate. Depreciation commences following the asset commissioning period and when the asset is available for commercial operation. The estimated useful lives for assets depreciated on a straight line basis are as follows:
Years
Hydro civil assets (classified within Renewable power
generation assets)
75 to 100
Thermal and hydro power stations including electrical
and mechanical assets (classified within Thermal
power generation assets)
20 to 60
Onshore wind farms (classified within Renewable
power generation assets)
20 to 25
Offshore wind farms (classified within Renewable
power generation assets)
23 to 30
Battery Storage assets (classified within Renewable
power generation assets)
12 to 15
Gas storage facilities (classified within Other assets)
25 to 50
Overhead lines, underground and subsea cables and
other network assets (classified within Distribution or
Transmission network assets)
5 to 80
Office buildings (classified within Land and buildings)
30 to 40
Fixtures, IT assets, vehicles and mobile plant (classified
within Other assets)
3 to 15
Assets held under leases are depreciated over their expected useful lives on the same basis as owned assets or, where shorter, over the term of the relevant lease agreement. It is the Group policy to capitalise qualifying replacement expenditure and depreciate it over the expected useful life of the replaced asset. Replaced assets are derecognised at this point and the costs recorded as costs of disposal. Where an item of property, plant and equipment is replaced and it is not practicable to determine the carrying amount of the replaced part, the cost of the replacement part adjusted for inflation and depreciation will be used as an approximation. Expenditure incurred to replace a component of an item of property, plant and equipment that is accounted for separately is capitalised. Other subsequent expenditure is capitalised only when it increases the future economic benefits of the item of property, plant and equipment to which it relates. Maintenance and repair costs are expensed as incurred. Derecognition An item of property, plant or equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Gains and losses on disposals are determined by comparing the proceeds received with the carrying amount of the asset and are included in the income statement. Any gain or loss on derecognition of the asset is included in the income statement in the period of derecognition. Lease arrangements (note 21) Lease arrangements are separately distinguished from service contracts based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Group is deemed to control the use of an identified asset, a right of use asset and a corresponding lease liability are recognised on the balance sheet. Right of use assets are capitalised and held as part of property, plant and equipment. The accounting policy for such arrangements is described above. Lease liabilities are initially measured at the present value of the future lease payments discounted using the rate implicit in the lease if that can be readily determined. If the interest rate implicit in the lease cannot be readily determined the incremental borrowing rate is used. Where the interest rate implicit in the lease is not readily determinable, the Group has applied the intercompany borrowing rate which is based on the Group\u2019s external medium-term borrowing rates with premia adjustments for any subsidiary specific risk factors. In determining whether any break and/or extension clauses should be included within the lease term, the Group has considered that where an internal decision has been made to break or extend the lease agreement, that decision shall be applied in determining the appropriate lease term. Where an internal decision has not been made, and where the non-cancellable element of the lease term has longer than five years remaining, it is considered that any clauses will not be triggered as any decision beyond that date is not reasonably certain. For all leases with less than five years remaining, an assessment is made at each reporting period on a lease-by-lease basis on whether the clause is reasonably certain to be triggered. Reassessment of break and/or extension judgements made in prior periods could result in recalculation of the lease liability and adjustments to associated balances. The lease liability is subsequently adjusted for the unwind of discounting, repayments and other modifications to the underlying agreement. Lease modifications are accounted for as a separate lease where the scope of the lease increases through the right to use one or more underlying assets and where the consideration of the lease increases by an amount that is equivalent to the standalone price of the increase in scope. Where a modification decreases the scope of the lease, the carrying amount of the right of use asset is adjusted and a gain or loss is recognised in proportion to the decrease in scope of the lease. All other modifications are accounted for as a reassessment of the lease liability with a corresponding adjustment to the right of use asset. Leases with a duration of 12 months or less and leases for assets which are deemed \u201clow value\u201d are expensed to the income statement on a straight-line basis over the lease term. 215
Impairment review (note 15)
The carrying amounts of the Group\u2019s property, plant and equipment
and other intangible assets and the Group\u2019s investments in joint
ventures and associates, are reviewed for impairment whenever
events or changes in circumstances indicate that the carrying amount
may not be recoverable, or where there are indications that a
previously recognised impairment loss has reduced. For property,
plant and equipment assets that have previously been identified as
exhibiting indications of impairment, the review of impairment will be
performed annually until there is sufficient evidence to confirm that
any potential impairment loss has been appropriately recognised, or
until previously recognised impairment losses have been fully written
back. For goodwill and other intangible assets with an indefinite life or
which are not yet ready for use, the test for impairment is carried out
annually. In addition, financial assets measured at amortised cost are
also reviewed for impairment annually.
For assets subject to impairment testing, the asset\u2019s carrying value
is compared to the asset\u2019s (or cash-generating unit\u2019s, in the case
of goodwill), recoverable amount. The recoverable amount is
determined to be the higher of the fair value less costs to sell
(\u201cFVLCS\u201d) and the value-in-use (\u201cVIU\u201d) of the asset or cash-generating
unit (\u201cCGU\u201d). For financial assets measured at amortised cost the
impairment is measured as the difference between the asset\u2019s
carrying amount and the present value of estimated future cash flows
discounted at the financial asset\u2019s original effective interest rate.
If the carrying amount of the asset or CGU exceeds its recoverable
amount, an impairment charge will be recognised immediately in
the income statement. Reversals of previous impairment charges
are recognised if the recoverable amount of the asset or CGU
significantly exceeds the carrying amount. Previous impairments
of goodwill are not reversed.
VIU calculations require the estimation of future cash flows to be
derived from the respective assets (or CGUs) and the selection of
an appropriate discount rate in order to calculate their present value.
The VIU methodology is consistent with the approach taken by
management to evaluate economic value and is deemed to be the
most appropriate for reviews of property, plant and equipment assets
and the Group\u2019s identified goodwill-related CGUs. The methodology
is based on the pre-tax cash flows arising from the specific assets,
underlying assets or CGUs, and discounted using a pre-tax discount
rate based on the Group\u2019s cost of funding and adjusted for any
specific risks. The estimation of the timing and value of underlying
projected cash flows and the selection of appropriate discount rates
involves management judgement. Subsequent changes to these
estimates or judgements may impact the carrying value of the assets.
The fair value less costs to sell methodology also uses a present value
technique, unless there is a quoted price in an active market for that
asset. The methodology is based on the post-tax cash flows arising
from the specific assets, underlying assets or CGUs, and discounted
using a post-tax discount rate determined in the same manner as the
rates used in the VIU calculations, adjusted for the relevant taxation rate.
Any impairment charge identified will initially be adjusted against the
goodwill allocated to the cash-generating unit. Any excess charge will
be allocated against the remaining assets of the cash-generating unit.
Reversals of previous impairment charges are allocated against the
carrying value of assets previously subject to an impairment charge.
Inventories (note 17)
Inventories \u2013 aside from gas inventory purchased for trading activities
\u2013 are valued at the lower of cost and net realisable value. Net
realisable value is the estimated selling price in the ordinary course of
business, less the estimated costs of completion and selling expenses.
Gas inventory purchased for trading activities is held at fair value with
reference to the forward month market price. Gains and losses on re-
measurement at fair value are recognised within the income
statement, as a \u201ccertain re-measurement\u201d item.
Provisions (note 20)
A provision is recognised in the balance sheet when the Group has
a present legal or constructive obligation as a result of a past event,
it can be measured reliably, and it is probable that an outflow of
economic benefits will be required to settle the obligation.
If the effect is material, provisions are determined by discounting the
expected future cash flows at a pre-tax rate that reflects current
market assessments of the time value of money and, where
appropriate, the risks specific to the liability.
Decommissioning
The Group engages independent experts to estimate the cost to
decommission its Renewable (Wind, Solar and Battery assets),
Thermal and Gas Storage assets every three years. In the intervening
years, management updates the external valuation based on factors
arising since the last formal valuation date. Provision is made for the
net present value of the estimated cost of decommissioning gas
storage facilities, wind farms, power stations and battery storage
assets at the end of the useful life of the facilities. This includes
development assets, where if a present obligation exists, a provision
is recognised during construction and prior to commencement of
operations from the site. The estimates are based on technology and
prices at the balance sheet date and exclude any salvage value related
to those assets. A corresponding decommissioning asset is
recognised and is included within property, plant and equipment
when it gives access to future economic benefits, and is depreciated
on a straight-line basis over the expected useful life of the asset.
Changes in these provisions are recognised prospectively. The
unwind of discounting of the provision is included in finance costs.
The Group retained a decommissioning obligation following the
disposal of its Gas Production business. The decommissioning
cost estimates are updated periodically by field operators based
on current technology and prices. Field operators also provide
estimated end of field life dates for each field, which can change
based on market commodity prices.
Retirement benefit obligations (note 23)
Defined benefit pension schemes
The Group operates two defined benefit pension schemes, one of
which is operated by the Company. Pension scheme assets are
measured using bid market values. Pension scheme liabilities are
measured using the projected unit credit actuarial method and are
discounted at the current rate of return on a high-quality corporate
bond of equivalent term and currency to the liability.
Any increase in the present value of liabilities within the Group\u2019s
defined benefit pension schemes expected to arise from employee
service in the year is charged as service costs to operating profit.
Net interest costs are based on net scheme assets or liabilities.
Actuarial gains and losses are recognised in full in the consolidated
statement of comprehensive income. Pension scheme surpluses,
to the extent that they are considered recoverable, or deficits are
recognised in full and presented on the face of the balance sheet.
Defined contribution pension schemes
The Group also operates a number of defined contribution pension
schemes. The assets of the schemes are held separately from those
of the Group in independently administered funds. The amounts
charged represent the contributions payable to the schemes in the
year and are charged directly to the income statement.
Equity and equity-related compensation benefits
The Group operates a number of employee share schemes as
described in the Remuneration Report. These schemes enable Group
employees to acquire shares of the Company.
The exercise prices of the sharesave scheme are set at a discount to
market price at the date of the grant. The fair value of the sharesave
scheme option granted is measured at the grant date by use of a
Black-Scholes model. The fair value of the options granted is
recognised as an expense on a straight-line basis over the period that
the scheme vests. Estimates are updated for non-market conditions
at each balance sheet date with any adjustment in respect of the
current and prior years being recognised in the income statement.
The costs associated with the other main employee schemes are
recognised over the period to which they relate. The charge related
to the equity shares in the Company awarded under the share
schemes is treated as an increase in the cost of investment held by
the Company in the subsidiary companies of the Group. The
disclosures on equity and equity-related compensation benefits have
been removed on the grounds of materiality in relation to the Group.
Financial instruments (note 24)
The Group uses a range of financial instruments to manage
exposures to financial risks, such as interest rate, foreign exchange
and energy price fluctuations in its normal course of business. Hedge
accounting is applied where the relevant qualifying criteria are met
and is aligned to the Group\u2019s risk management objectives and
policies, which are further explained in A6.
During the year ended 31 March 2026, the Group completed an
assessment of the impact of transitioning from IAS 39 \u201cFinancial
Instruments: Recognition and Measurement\u201d to the hedge
accounting requirements of IFRS 9 \u201cFinancial Instruments\u201d. The
assessment concluded that the Group\u2019s existing hedging relationships
and risk management strategies would continue to qualify for hedge
accounting on adoption of IFRS 9.
Accordingly, the Group has continued to apply the hedge accounting
requirements of IAS 39, as permitted by IFRS 9, as this model
continues to appropriately reflect the Group\u2019s risk management
activities in the financial statements. The Group will adopt IFRS 9
Financial Instruments in full from 1 April 2026.
Interest rate and foreign exchange derivatives
Financial derivative instruments are used by the Group to manage
interest rate and currency exposures. All such derivatives are
recognised at fair value and are re-measured to fair value each
reporting period. Certain derivative financial instruments are
designated as being held for hedging purposes. The designation of
the hedge relationship is established at the inception of the hedge
and procedures are applied to ensure the derivative is highly effective
in achieving its objective and that the effectiveness of the hedge can
be reliably measured. The treatment of gains and losses on re-
measurement is dependent on the classification of the hedge and
whether the hedge relationship is designated as either a \u201cfair value\u201d or
\u201ccash flow\u201d hedge. Derivatives that are not designated as hedges are
treated as if held for trading, with all fair value movements being
recorded through the income statement.
A derivative classified as a \u201cfair value\u201d hedge recognises gains and
losses from re-measurement immediately in the income statement.
Loans and borrowings are measured at cost except where they form
the underlying transaction in an effective fair value hedge relationship.
In such cases, the carrying value of the loan or borrowing is adjusted
to reflect fair value movements with the gain or loss being reported in
the income statement.
A derivative classified as a \u201ccash flow\u201d hedge recognises the portion of
gains or losses on the derivative which are deemed to be effective
directly in equity in the hedge reserve. Any ineffective portion of the
gains or losses is recognised in the consolidated income statement.
When hedged cash flows result in the recognition of a non-financial
asset or liability, the associated gains or losses previously recognised
in equity are included in the initial measurement of the asset or liability.
For all other cash flow hedges, the gains or losses that are recognised in
equity are transferred to the income statement in the same period in
which the hedged cash flows affect the income statement.
Hedge accounting is discontinued when the hedging instrument
expires, or is sold, terminated or exercised, or no longer qualifies for
hedge accounting. At the point of discontinuation, any cumulative
gain or loss on the hedging instrument recognised in equity remains
in equity until the forecast transaction affects profit or loss. On
settlement, the cumulative gain or loss recognised in equity is
recognised in the income statement.
Commodity derivatives
Within its regular course of business, the Group routinely enters into
sale and purchase derivative contracts for commodities such as
power, gas and carbon. Where the contract was entered into and
continues to be held for the purpose of receipt or delivery in
accordance with the Group\u2019s expected sale, purchase or usage
requirements, the contracts are designated as \u201cown use\u201d contracts
and are measured at cost. These contracts are not within the scope
of IFRS 9.
Derivative commodity contracts which are not designated as own use
contracts are accounted for as trading derivatives and are recognised
in the balance sheet at fair value. Where a hedge accounting
relationship is designated and is proven to be effective, the changes in
fair value will be recognised in accordance with the rules noted
above. There are currently no designated hedge relationships in
relation to commodity contracts.
Other commodity contracts, where own use is not established and a
hedge accounting relationship is not designated, are measured at fair
value with gains and losses on re-measurement being recognised in
the income statement in cost of sales.
Embedded derivatives
Derivatives embedded in other financial instruments or other
host contracts are treated as separate derivatives where the
characteristics of the derivatives are not closely related to those of
the host contracts.
Net investment hedges
Hedges of net investments in foreign operations are accounted in
a manner similar to effective cash flow hedges. Any gain or loss on
the effective portion of the hedge is recognised in equity, in the
translation reserve, and any gain or loss on the ineffective portion of
the hedge is recognised in the income statement. On disposal of the
foreign operation, the cumulative value of any gains or losses
recognised directly in equity is transferred to the income statement.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits
with a maturity of three months or less. Bank overdrafts that are
repayable on demand and form an integral part of the Group\u2019s cash
management are included as a component of cash and cash
equivalents for the purpose of the statement of cash flows.
Trade receivables
Trade receivables do not carry any interest and are measured at cost
less an appropriate allowance for lifetime expected credit losses.
At the end of each reporting period a review of the allowance
for impairment of trade receivables (or bad debt provision) is
performed by the respective businesses. Trade receivables do not
contain a significant financing element, and therefore expected credit
losses are measured using the simplified approach permitted by IFRS
9, which requires lifetime expected credit losses to be recognised on
initial recognition. A provision matrix is utilised to estimate the lifetime
expected credit losses, based on the age, status and risk of each class
of receivable, which is updated periodically to include changes to
both forward-looking and historical inputs.
Interest-bearing loans and borrowings
All such loans and borrowings are initially recognised at fair value
including transaction costs and are subsequently measured at
amortised cost, except where the loan or borrowing is the
hedged item in an effective fair value hedge relationship.
Commercial (and affiliate) contracts for difference
The Group has commercial Contracts for Difference (\u201cCfD\u201d)
arrangements in place where the Group has agreed to provide a
revenue support contract. Where the Group has entered into these
arrangements and there is no relationship with a government entity,
the instruments are classified as derivatives and accounted for under
IFRS 9. The Group has assessed that due to the valuation complexity
of these arrangements, they are Level 3 financial instruments in the
fair value hierarchy. On day 1, the Group recognises no gain or loss
arising from the instrument, but instead defers this gain or loss and
recognises it progressively over the life of the instrument. At each
balance sheet date the fair value of the instrument is assessed with
any movement in fair value recognised in the income statement in
the period it arises.
Financial guarantee liabilities
The Group issues financial guarantee contracts to make specified
payments to reimburse holders for losses incurred if certain former
subsidiaries and certain current joint venture investments fail to make
payments when due in accordance with the original or modified
terms of a debt instrument.
Financial guarantee contracts are initially measured at fair value and
subsequently measured at the higher of the loss allowance for
expected credit losses and the initial fair value less any income
recognised.
Share capital
Ordinary shares are accounted for as equity. Incremental costs
directly attributable to the issue of new shares are shown in
equity as a deduction from the proceeds received. Own equity
instruments that are reacquired are deducted from equity. No gain or
loss is recognised in the Group income statement on the purchase,
sale, issue or cancellation of the Group\u2019s own equity instruments.
Hybrid equity
Hybrid equity comprises issued bonds that qualify for recognition
as equity as they have no fixed redemption date. Accordingly, any
coupon payments are accounted for as dividends and are recognised
directly in equity at the time the payment obligation arises. This is
because the coupon payments are discretionary and relate to equity.
Coupon payments consequently do not have any impact on the
income statement. Coupon payments are recognised in the cash flow
statement in the same way as dividends to ordinary shareholders.
Tax credits in relation to the coupon payments are linked to the past
transactions or events that support the coupon payments and
consequently the tax credits are reported in the income statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-661": { "value": "A1.1 Basis of consolidation The financial statements consolidate the results of the Company and its subsidiaries together with the Group\u2019s share of the results and net assets of its interests in joint arrangements and associates. Where necessary to ensure consistency, the accounting policies of the subsidiaries, joint arrangements or associates have been adjusted to align to the accounting policies of the Group. Intra-Group balances and any unrealised gains and losses or income and expenses arising from Intra-Group transactions are eliminated in preparing the consolidated financial statements. Unrealised gains and losses arising from transactions with joint arrangements and associates are eliminated to the extent of the Group\u2019s interest in the entity. Non- controlling interests represent the equity in subsidiaries that is not attributable, either directly or indirectly, to SSE plc shareholders. Subsidiaries (Accompanying Information A3) Subsidiaries are those entities controlled by the Group or the Company. Control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an entity in order to obtain variable returns from its activities. In assessing control, potential voting rights that are currently exercisable or convertible are taken into account. The financial statements of subsidiaries acquired are consolidated in the financial statements of the Group from the date that control commences until the date control ceases. Transactions with non-controlling interests that relate to their ownership interests and do not result in a loss of control are accounted for as equity transactions. Interests in joint arrangements and associates (note 16 and Accompanying Information A3) Joint arrangements, as defined by IFRS 11 \u201cJoint Arrangements\u201d, are those arrangements that convey to two or more parties \u201cjoint control\u201d. Joint control exists when decisions about the \u201crelevant activities\u201d, being the financial, operational or strategic policies of the arrangement, are made with the unanimous consent of the parties sharing control. Whilst this assessment is principally focused on any \u201creserved matters\u201d, being the material activities that typically require all significant shareholders to approve, other contractual agreements such as Power Purchase Agreements and Management Services Agreements are also considered. The Group\u2019s investments in joint arrangements are classified as either joint operations or joint ventures depending on the investee\u2019s legal form and the investor\u2019s contractual rights and obligations over the assets and liabilities of the investee. Associates are those investments over which the Group has significant influence but neither control nor joint control. The Group\u2019s interests in its joint operations are accounted for by recognising its share of the assets, liabilities, revenue and expenses of the operation. The Group\u2019s share of revenue from Greater Gabbard is eliminated on consolidation due to the offtake agreement where the Group purchases its share of the output from the arrangement. The Group\u2019s joint ventures and associates are accounted for using the equity method of accounting where the joint venture and associate net investments (comprising both equity and long term loans) are carried at historical cost plus the Group\u2019s share of post-acquisition results, less any impairment in value. Where an impairment is recognised against the carrying value of an investment, it is recognised within the operating costs line of the consolidated financial statements. For those investments that were formerly subsidiaries of the Group, this will also include any fair value uplift arising from loss of control. The Group recognises its share of the results of these equity-accounted operations after tax and interest in the income statement. Foreign currencies The consolidated financial statements are presented in pounds Sterling, which is the functional currency of the parent. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured accordingly. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Any gain or loss arising on the restatement of such items is taken to the income statement as a finance cost, with the exception of exchange gains or losses on foreign currency borrowings that provide a hedge against a net investment in a foreign entity or exchange gains or losses incurred as part of a qualifying cash flow hedge. These exchange gains or losses are transferred to the translation reserve to the extent the hedge is effective. Non-monetary assets that are measured in terms of historical cost in a foreign currency are translated at the historic rate at the date of transaction. For the purpose of presenting the consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated into pounds Sterling at the balance sheet closing rate. The results of these operations are translated at the average rate in the relevant period. Exchange differences on retranslation of the opening net assets and the results of foreign operations are transferred to the translation reserve and are reported in the consolidated statement of comprehensive income. The average and spot rates for the principal functional currencies that the Group\u2019s foreign operations are denominated in are shown in the table below.
2026
2025
Change
EUR v GBP
Year end
1.1451
1.1938
(4.1)%
spot rate
Average
1.1544
1.1946
(3.4)%
spot rate
US$ v GBP
Year end
1.3216
1.2907
2.4%
spot rate
Average
1.3346
1.2915
3.3%
spot rate
JPY v GBP
Year end
210.0740
193.4770
8.6%
spot rate
Average
211.7950
192.5154
10.0%
spot rate
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-703": { "value": "Subsidiaries (Accompanying Information A3) Subsidiaries are those entities controlled by the Group or the Company. Control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an entity in order to obtain variable returns from its activities. In assessing control, potential voting rights that are currently exercisable or convertible are taken into account. The financial statements of subsidiaries acquired are consolidated in the financial statements of the Group from the date that control commences until the date control ceases. Transactions with non-controlling interests that relate to their ownership interests and do not result in a loss of control are accounted for as equity transactions. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-760": { "value": "Interests in joint arrangements and associates (note 16 and Accompanying Information A3) Joint arrangements, as defined by IFRS 11 \u201cJoint Arrangements\u201d, are those arrangements that convey to two or more parties \u201cjoint control\u201d. Joint control exists when decisions about the \u201crelevant activities\u201d, being the financial, operational or strategic policies of the arrangement, are made with the unanimous consent of the parties sharing control. Whilst this assessment is principally focused on any \u201creserved matters\u201d, being the material activities that typically require all significant shareholders to approve, other contractual agreements such as Power Purchase Agreements and Management Services Agreements are also considered. The Group\u2019s investments in joint arrangements are classified as either joint operations or joint ventures depending on the investee\u2019s legal form and the investor\u2019s contractual rights and obligations over the assets and liabilities of the investee. Associates are those investments over which the Group has significant influence but neither control nor joint control. The Group\u2019s interests in its joint operations are accounted for by recognising its share of the assets, liabilities, revenue and expenses of the operation. The Group\u2019s share of revenue from Greater Gabbard is eliminated on consolidation due to the offtake agreement where the Group purchases its share of the output from the arrangement. The Group\u2019s joint ventures and associates are accounted for using the equity method of accounting where the joint venture and associate net investments (comprising both equity and long term loans) are carried at historical cost plus the Group\u2019s share of post-acquisition results, less any impairment in value. Where an impairment is recognised against the carrying value of an investment, it is recognised within the operating costs line of the consolidated financial statements. For those investments that were formerly subsidiaries of the Group, this will also include any fair value uplift arising from loss of control. The Group recognises its share of the results of these equity-accounted operations after tax and interest in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-737": { "value": "Interests in joint arrangements and associates (note 16 and Accompanying Information A3) Joint arrangements, as defined by IFRS 11 \u201cJoint Arrangements\u201d, are those arrangements that convey to two or more parties \u201cjoint control\u201d. Joint control exists when decisions about the \u201crelevant activities\u201d, being the financial, operational or strategic policies of the arrangement, are made with the unanimous consent of the parties sharing control. Whilst this assessment is principally focused on any \u201creserved matters\u201d, being the material activities that typically require all significant shareholders to approve, other contractual agreements such as Power Purchase Agreements and Management Services Agreements are also considered. The Group\u2019s investments in joint arrangements are classified as either joint operations or joint ventures depending on the investee\u2019s legal form and the investor\u2019s contractual rights and obligations over the assets and liabilities of the investee. Associates are those investments over which the Group has significant influence but neither control nor joint control. The Group\u2019s interests in its joint operations are accounted for by recognising its share of the assets, liabilities, revenue and expenses of the operation. The Group\u2019s share of revenue from Greater Gabbard is eliminated on consolidation due to the offtake agreement where the Group purchases its share of the output from the arrangement. The Group\u2019s joint ventures and associates are accounted for using the equity method of accounting where the joint venture and associate net investments (comprising both equity and long term loans) are carried at historical cost plus the Group\u2019s share of post-acquisition results, less any impairment in value. Where an impairment is recognised against the carrying value of an investment, it is recognised within the operating costs line of the consolidated financial statements. For those investments that were formerly subsidiaries of the Group, this will also include any fair value uplift arising from loss of control. The Group recognises its share of the results of these equity-accounted operations after tax and interest in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-704": { "value": "Interests in joint arrangements and associates (note 16 and Accompanying Information A3) Joint arrangements, as defined by IFRS 11 \u201cJoint Arrangements\u201d, are those arrangements that convey to two or more parties \u201cjoint control\u201d. Joint control exists when decisions about the \u201crelevant activities\u201d, being the financial, operational or strategic policies of the arrangement, are made with the unanimous consent of the parties sharing control. Whilst this assessment is principally focused on any \u201creserved matters\u201d, being the material activities that typically require all significant shareholders to approve, other contractual agreements such as Power Purchase Agreements and Management Services Agreements are also considered. The Group\u2019s investments in joint arrangements are classified as either joint operations or joint ventures depending on the investee\u2019s legal form and the investor\u2019s contractual rights and obligations over the assets and liabilities of the investee. Associates are those investments over which the Group has significant influence but neither control nor joint control. The Group\u2019s interests in its joint operations are accounted for by recognising its share of the assets, liabilities, revenue and expenses of the operation. The Group\u2019s share of revenue from Greater Gabbard is eliminated on consolidation due to the offtake agreement where the Group purchases its share of the output from the arrangement. The Group\u2019s joint ventures and associates are accounted for using the equity method of accounting where the joint venture and associate net investments (comprising both equity and long term loans) are carried at historical cost plus the Group\u2019s share of post-acquisition results, less any impairment in value. Where an impairment is recognised against the carrying value of an investment, it is recognised within the operating costs line of the consolidated financial statements. For those investments that were formerly subsidiaries of the Group, this will also include any fair value uplift arising from loss of control. The Group recognises its share of the results of these equity-accounted operations after tax and interest in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-705": { "value": "
Foreign currencies
The consolidated financial statements are presented in pounds
Sterling, which is the functional currency of the parent. Each entity in
the Group determines its own functional currency and items included
in the financial statements of each entity are measured accordingly.
Transactions in foreign currencies are recorded at the rate ruling
at the date of the transaction. Monetary assets and liabilities
denominated in foreign currencies are translated at the rate of
exchange ruling at the balance sheet date. Any gain or loss arising on
the restatement of such items is taken to the income statement as a
finance cost, with the exception of exchange gains or losses on
foreign currency borrowings that provide a hedge against a net
investment in a foreign entity or exchange gains or losses incurred as
part of a qualifying cash flow hedge. These exchange gains or losses
are transferred to the translation reserve to the extent the hedge is
effective. Non-monetary assets that are measured in terms of
historical cost in a foreign currency are translated at the historic rate
at the date of transaction.
For the purpose of presenting the consolidated financial statements,
the assets and liabilities of the Group\u2019s foreign operations are
translated into pounds Sterling at the balance sheet closing rate. The
results of these operations are translated at the average rate in the
relevant period. Exchange differences on retranslation of the opening
net assets and the results of foreign operations are transferred to the
translation reserve and are reported in the consolidated statement of
comprehensive income.
The average and spot rates for the principal functional currencies that
the Group\u2019s foreign operations are denominated in are shown in the
table below.
2026
2025
Change
EUR v GBP
Year end
1.1451
1.1938
(4.1)%
spot rate
Average
1.1544
1.1946
(3.4)%
spot rate
US$ v GBP
Year end
1.3216
1.2907
2.4%
spot rate
Average
1.3346
1.2915
3.3%
spot rate
JPY v GBP
Year end
210.0740
193.4770
8.6%
spot rate
Average
211.7950
192.5154
10.0%
spot rate
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-738": { "value": "Foreign currencies The consolidated financial statements are presented in pounds Sterling, which is the functional currency of the parent. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured accordingly. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Any gain or loss arising on the restatement of such items is taken to the income statement as a finance cost, with the exception of exchange gains or losses on foreign currency borrowings that provide a hedge against a net investment in a foreign entity or exchange gains or losses incurred as part of a qualifying cash flow hedge. These exchange gains or losses are transferred to the translation reserve to the extent the hedge is effective. Non-monetary assets that are measured in terms of historical cost in a foreign currency are translated at the historic rate at the date of transaction. For the purpose of presenting the consolidated financial statements, the assets and liabilities of the Group\u2019s foreign operations are translated into pounds Sterling at the balance sheet closing rate. The results of these operations are translated at the average rate in the relevant period. Exchange differences on retranslation of the opening net assets and the results of foreign operations are transferred to the translation reserve and are reported in the consolidated statement of comprehensive income. The average and spot rates for the principal functional currencies that the Group\u2019s foreign operations are denominated in are shown in the table below.
2026
2025
Change
EUR v GBP
Year end
1.1451
1.1938
(4.1)%
spot rate
Average
1.1544
1.1946
(3.4)%
spot rate
US$ v GBP
Year end
1.3216
1.2907
2.4%
spot rate
Average
1.3346
1.2915
3.3%
spot rate
JPY v GBP
Year end
210.0740
193.4770
8.6%
spot rate
Average
211.7950
192.5154
10.0%
spot rate
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-662": { "value": "
A1.2 Material accounting policies
Revenue (note 5)
Revenue from contracts with customers is recognised to the
extent that it reflects the expected consideration for goods or
services provided to the customer under contract, over the
performance obligations they are being provided. For each separable
performance obligation identified, the Group determines whether it is
satisfied at a \u201cpoint in time\u201d or \u201cover time\u201d based upon an evaluation
of the receipt and consumption of benefits, control of assets and
enforceable payment rights associated with that obligation. If the
criteria required for \u201cover time\u201d recognition are not met, the
performance obligation is deemed to be satisfied at a \u201cpoint in time\u201d.
Revenue principally arises as a result of the Group\u2019s activities in
energy production, storage, transmission, distribution, supply and
related services in the energy markets in Great Britain and Ireland.
Where the Group earns income from an asset during the
commissioning period, the income is recognised in the income
statement as revenue in accordance with the relevant asset
accounting policy set out below. Once in operation, depreciation
will be charged over the expected useful life of the asset.
The key policies applied by each Business Unit are as follows: Transmission Use of electricity transmission networks Revenue from use of electricity transmission networks is derived from the allowed revenue as defined by the parameters in the relevant electricity transmission licence, which informs the tariffs set. Electricity transmission revenue is determined in accordance with the regulatory licence, based on an Ofgem approved revenue model and is recognised \u201cover time\u201d as charged to National Grid. Where this revenue differs from the allowed revenue, there may be an over- or under-recovery of revenue which will be reflected in future financial years\u2019 allowed revenue as set out in the regulatory licence. No accounting adjustments are made for over- or under-recoveries in the year that they arise as they are contingent on future events (being the transmission of electricity in a future period). The over or under recovery adjustment is recognised in the subsequent period when included within the tariffs that form allowed revenue under the regulatory agreement. Transmission network contracted services Where the Group has an ongoing obligation to provide contracted services (transmission network connections), revenues are recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of that service across the expected contractual service period. Any assets constructed in order to deliver the service are capitalised and depreciated over their useful life. Payments are typically received from customers in advance of providing the contracted service and are deferred on balance sheet. No extended warranty periods are offered. Distribution Use of electricity distribution networks Revenue from use of electricity distribution networks is derived from the allowed revenue as defined by the parameters in the relevant electricity distribution licence, which informs the tariffs set. Electricity distribution revenue is recognised based on the volume of electricity distributed \u201cover time\u201d, as use of distribution service is determined by the customer, and the set customer tariff. As with electricity transmission revenue, any over- or under-recovery of revenue is reflected in future financial years\u2019 allowed revenue as set out in the regulatory licence. No accounting adjustments are made for over- or under-recoveries in the year that they arise as they are contingent on future events (being the distribution of electricity in a future period). The over or under recovery adjustment is recognised in the subsequent period when included within the tariffs that form allowed revenue under the regulatory agreement. Distribution network contracted services Where the Group has an ongoing obligation to provide contracted services (such as for distribution network connections), revenues are recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of that service across the expected contractual service period. Any assets constructed in order to deliver the service are capitalised and depreciated over their useful life. Payments are typically received from customers in advance of providing the contracted service and are deferred on balance sheet. The release of deferred income on customer or third party funded additions is removed from the Group\u2019s Adjusted EBITDA measure. No extended warranty periods are offered. Renewables Electricity generation Revenue from the physical generation of electricity is recognised \u201cpoint in time\u201d as generated and supplied to the national settlements body. Revenue is measured at either the spot price at the time of delivery, or trade price where that trade is eligible for \u201cown use\u201d designation. Renewables contracted services Revenue from national support schemes, such as Renewable Obligation Certificates, is recognised at the point the performance obligation has been met. This is typically considered to be either at the point electricity has been physically generated or over the contractual period, depending on the underlying performance obligation. Revenue is measured either at the market rate at the point of generation, or at the fixed contractual consideration, depending on the individual scheme mechanic. Revenue from other ancillary generation services is recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of those services across the expected contractual service period, and at the contracted consideration. Thermal Electricity generation Revenue from the physical generation of electricity is recognised \u201cpoint in time\u201d as generated and supplied to the national settlements body. Revenue is measured at either the spot price at the time of delivery, or trade price where that trade is eligible for \u201cown use\u201d designation. Gas storage Revenue from gas storage trading activities is recognised \u201cpoint in time\u201d as injected back into the gas network. Revenue is measured at the spot price at the time of delivery. Thermal Generation contracted services Revenue from national support schemes, such as the Capacity Market mechanism, is recognised at the point the performance obligation has been met. This is typically considered to be either at the point electricity has been physically generated or over the contractual period, depending on the underlying performance obligation. Revenue is measured either at the market rate at the point of generation, or at the fixed contractual consideration, depending on the individual scheme mechanic. Revenue from other ancillary generation services is recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of those services across the expected contractual service period, and at the contracted consideration. Customers Supply of energy Revenue on the supply of energy comprises sales to domestic (in Ireland) and business end-user customers (in GB and Ireland) is based on actual energy consumption including an estimate of the value of electricity and gas supplied to customers between the date of the last meter reading and the year end. Revenue is recognised \u201cover time\u201d consistent with the delivery of energy to the customer as the receipt and consumption of the benefits of the energy is considered to be simultaneous. Revenue is measured based on the applicable customer tariff rate and after deduction of any applicable contractual discounts. Details of the judgements involved in the estimation process for the value of electricity and gas supplied to GB Business customers is given within note 4.1(iii) . Payments from customers may be received in advance of providing the contracted service and are deferred on balance sheet. Amounts received from customers in relation to energy management services provided by Third Party Intermediaries (\u201cTPIs\u201d) are offset against payments to those TPIs, reflecting the responsibility for providing the energy management service. Energy related services Where the Group has an ongoing obligation to provide contracted energy related services, such as energy optimisation or maintenance services, revenues are recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of that service across the expected contractual service period at the fixed contracted rate. Where the Group has an obligation to perform a specific service, revenues are recognised \u201cpoint in time\u201d, following performance of the service at the fixed contracted consideration. No extended warranty periods are offered. SSE Energy Markets Commodity optimisation and other services Income from sales commodity optimisation trading occurring in any business unit is presented net in cost of sales alongside purchase commodity optimisation trades. Revenue on physical power and gas supplied is recognised \u201cpoint in time\u201d as delivered to the national settlements body or third parties. Revenue is measured at either the spot price at the time of delivery, or trade price where that trade is eligible for \u201cown use\u201d designation. Revenue arising on commodities purchased in excess of the Group\u2019s requirements and recorded as inventory assets, such as Renewables Obligation Certificates, REGOs or carbon allowances, is recognised \u201cpoint in time\u201d on disposal of these inventory assets to third parties. Revenue from other ancillary services is recognised \u201cover time\u201d consistent with the customer receiving and consuming the benefits of those services across the expected contractual service period, and at the contracted consideration. Aside from where specifically noted above, consideration is due when the performance obligation has been satisfied. As the period between satisfaction of the performance obligation and receipt of consideration from the customer is expected to be less than a year, the Group has applied the practical expedient not to adjust revenue for the effect of any financing components. Revenue from sources other than the Group\u2019s contracts with customers principally comprise meter rental income included within Corporate unallocated, and Contract for Difference income. Income on meter rental agreements, which are classified as operating leases, are presented as revenue where they relate to the core operating activities of that business. Lease payments are recognised as income on a straight-line basis over the lease term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-666": { "value": "Other operating income \u2013 Government Grants (note 6) Contracts for Difference (\u201cCfD\u201d) are agreements between a low carbon electricity generator and the Low Carbon Contracts Company (\u201cLCCC\u201d), a UK Government owned entity responsible for delivering support mechanisms for low-carbon electricity generation. These agreements are not considered to be contracts with a customer, as the LCCC does not receive any goods or services from the generator. These arrangements are instead considered to be Government Grants, with income arising from these grants recognised in the income statement in the period in which generation takes place. In the year, the Group recognised no income or expense (2025: none) related to Contracts for Difference with the LCCC within its wholly owned subsidiaries. The Group\u2019s joint venture investment, Beatrice Offshore Windfarm Limited, has a CfD with the LCCC which resulted in payments from the LCCC of \u00a3250.7m in the year with SSE\u2019s share of \u00a3100.3m recognised within share of profit (2025: \u00a3245.7m, with SSE\u2019s share of \u00a398.3m recognised within share of profit). The Group\u2019s wholly owned operational Viking wind farm and joint venture investments Seagreen Wind Energy Limited, and Doggerbank A & B also have a CfD arrangement in place with the LCCC. The LCCC government agreements for Viking, Seagreen and Doggerbank are not yet effective and as such no income or cost was recognised during the year.
Where the CfD strike price falls below the spot price of generation
and payments are made to the LCCC, these payments are expensed
as incurred within operating costs. See \u201cfinancial instruments\u201d below
for the Group\u2019s policy in relation to commercial Contracts
for Difference.
Presentation of grants related to assets
Income received from Government towards the capital cost of
an asset are deducted from the carrying value presented in the
financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-663": { "value": "
Cost of sales (note 6)
Cost of sales includes fuel and energy purchases, direct employee
benefits, and depreciation of electricity generation property, plant
and equipment.
The net result from sales and purchases of commodity optimisation
trades \u2013 comprising both realised and unrealised gains and losses
arising from optimisation trading activities \u2013 is also presented within
cost of sales, reflecting the underlying economic purpose of this
trading activity.
", "dimensions": { "concept": "sseplc:DescriptionOfAccountingPolicyForCostOfSales", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-664": { "value": "
Finance income and costs (note 9)
Interest income and costs are recognised in the income statement
as they accrue, on an effective interest method. The issue costs
and interest payable on bonds and all other interest payable and
receivable is reflected in the income statement on the same basis.
Interest on the funding attributable to major capital projects is
capitalised during the period of construction and depreciated as part
of the total cost over the useful life of the asset.
The accounting policy for foreign exchange translation of monetary
assets and liabilities is described on page 210
and for lease liability
charges on page 215
.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-739": { "value": "Finance income and costs (note 9) Interest income and costs are recognised in the income statement as they accrue, on an effective interest method. The issue costs and interest payable on bonds and all other interest payable and receivable is reflected in the income statement on the same basis. Interest on the funding attributable to major capital projects is capitalised during the period of construction and depreciated as part of the total cost over the useful life of the asset. The accounting policy for foreign exchange translation of monetary assets and liabilities is described on page 210 and for lease liability charges on page 215 . ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-706": { "value": "Finance income and costs (note 9) Interest income and costs are recognised in the income statement as they accrue, on an effective interest method. The issue costs and interest payable on bonds and all other interest payable and receivable is reflected in the income statement on the same basis. Interest on the funding attributable to major capital projects is capitalised during the period of construction and depreciated as part of the total cost over the useful life of the asset. The accounting policy for foreign exchange translation of monetary assets and liabilities is described on page 210 and for lease liability charges on page 215 . ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-665": { "value": "
Taxation (note 10)
Taxation on the profit for the year comprises current and deferred tax.
Taxation is recognised in the income statement unless it relates to
items recognised directly in equity, in which case it is recognised in
other comprehensive income.
Current tax is the expected tax payable on the taxable income for
the year, using tax rates enacted or substantively enacted at the
balance sheet date, and any adjustment to tax payable in respect
of previous years.
Deferred tax is calculated using the balance sheet liability method,
providing for temporary differences between the carrying amounts of
assets and liabilities for financial reporting purposes and the amounts
used for taxation purposes. The following temporary differences are
not provided for: goodwill not deductible for tax purposes, the initial
recognition of assets or liabilities other than in business combinations
that affect neither accounting nor taxable profit, and differences
relating to investments in subsidiaries to the extent that they will
probably not reverse in the foreseeable future. The amount of
deferred tax provided is based on the expected manner of realisation
or settlement of the carrying amount of assets and liabilities, using tax
rates enacted or substantively enacted at the balance sheet date.
Deferred tax assets and liabilities are offset where there is a legally
enforceable right of offset within the same tax authority and where
the Group intends to either settle them on a net basis, or to realise
the asset and settle the liability simultaneously. A deferred tax asset is
recognised only to the extent that it is probable that future taxable
profits will be available against which the asset can be utilised.
Deferred tax assets are reduced to the extent that it is no longer
probable that the related tax benefit will be realised.
The Electricity Generator Levy (\u201cEGL\u201d) is effective for periods from
1 January 2023 to 31 March 2028, and the Group has assessed that
the EGL has the characteristics of a levy rather than an income tax.
The Group therefore recognises the costs associated with the levy for
within cost of sales.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-707": { "value": "Taxation (note 10) Taxation on the profit for the year comprises current and deferred tax. Taxation is recognised in the income statement unless it relates to items recognised directly in equity, in which case it is recognised in other comprehensive income. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is calculated using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets or liabilities other than in business combinations that affect neither accounting nor taxable profit, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax assets and liabilities are offset where there is a legally enforceable right of offset within the same tax authority and where the Group intends to either settle them on a net basis, or to realise the asset and settle the liability simultaneously. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised. The Electricity Generator Levy (\u201cEGL\u201d) is effective for periods from 1 January 2023 to 31 March 2028, and the Group has assessed that the EGL has the characteristics of a levy rather than an income tax. The Group therefore recognises the costs associated with the levy for within cost of sales. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-667": { "value": "
Business Combinations (note 12)
The acquisition of subsidiaries, and joint operations that meet the
definition of a business, is accounted for under the acquisition method
as defined by IFRS 3 \u201cBusiness Combinations\u201d.
The cost of acquisition is measured as being the aggregate fair value
of consideration to be transferred at the date control is obtained.
Goodwill is measured at the acquisition date as the fair value of
consideration transferred, plus non-controlling interests, less the net
recognised amount (which is generally fair value) of the identifiable
assets and liabilities assumed. Goodwill is subject to an annual review
for impairment (or more frequently if necessary) in accordance with
the Group\u2019s impairment accounting policy.
Contingent consideration is classified as a liability and subsequently
re-measured through the income statement. Acquisition costs are
expensed as incurred.
Changes in ownership that do not result in a change of control are
accounted for as equity transactions.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-740": { "value": "Business Combinations (note 12) The acquisition of subsidiaries, and joint operations that meet the definition of a business, is accounted for under the acquisition method as defined by IFRS 3 \u201cBusiness Combinations\u201d. The cost of acquisition is measured as being the aggregate fair value of consideration to be transferred at the date control is obtained. Goodwill is measured at the acquisition date as the fair value of consideration transferred, plus non-controlling interests, less the net recognised amount (which is generally fair value) of the identifiable assets and liabilities assumed. Goodwill is subject to an annual review for impairment (or more frequently if necessary) in accordance with the Group\u2019s impairment accounting policy. Contingent consideration is classified as a liability and subsequently re-measured through the income statement. Acquisition costs are expensed as incurred. Changes in ownership that do not result in a change of control are accounted for as equity transactions. Goodwill and impairment testing Goodwill arising on a business combination represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of a subsidiary, associate or joint venture at the date of acquisition. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is reviewed for impairment at least on an annual basis. For the purpose of impairment testing, goodwill is allocated on initial recognition to the cash-generating units or groups of CGUs expected to benefit from the combination\u2019s synergies. The CGUs (or groups of CGUs) used for goodwill impairment testing purposes will represent how goodwill was attributed but may not represent reportable business segments. Goodwill may also arise upon investments in joint arrangements and associates. Goodwill arising on a joint operation is recorded as a separate asset and any impairment loss is recognised in the income statement. Goodwill arising on a joint venture or associate is recorded within the carrying amount of the Group\u2019s investment and any impairment loss is included within the share of result from joint ventures and associates. On disposal or closure of a previously acquired investment or business, any attributed goodwill will be included in determining the profit or loss on disposal. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-668": { "value": "
Held for sale assets and liabilities and discontinued operations
Non-current assets are classified as held for sale if their recoverable
value is likely to be recovered via a sale or distribution as opposed to
continued use by the Group. In order to be classified as assets held
for sale, assets must meet all of the following conditions: the sale is
highly probable; it is available for immediate sale; it is being actively
marketed; and the sale is likely to occur within one year.
Assets that qualify as held for sale and related liabilities are disclosed
separately from other assets and liabilities in the balance sheet
prospectively from the date of classification. Non-current assets
determined as held for sale are measured at the lower of carrying
value and fair value less costs to sell, no depreciation is charged in
respect of these assets after classification as held for sale.
Assets or groups of assets and related liabilities that qualify as held for
sale are classified as discontinued operations when they represent a
separate major line of business or geographical area, are part of a
single plan to dispose of a separate major line of business or
geographical area or are acquired exclusively with a view to resale.
Income and expenses relating to these discontinued operations are
disclosed in a single net amount after taxes in the income statement,
with comparative amounts re-presented accordingly.
Intra-Group balances and any unrealised gains and losses or
income and expenses arising from trading between continuing
and discontinued operations continue to be eliminated in preparing
the consolidated financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-741": { "value": "Held for sale assets and liabilities and discontinued operations Non-current assets are classified as held for sale if their recoverable value is likely to be recovered via a sale or distribution as opposed to continued use by the Group. In order to be classified as assets held for sale, assets must meet all of the following conditions: the sale is highly probable; it is available for immediate sale; it is being actively marketed; and the sale is likely to occur within one year. Assets that qualify as held for sale and related liabilities are disclosed separately from other assets and liabilities in the balance sheet prospectively from the date of classification. Non-current assets determined as held for sale are measured at the lower of carrying value and fair value less costs to sell, no depreciation is charged in respect of these assets after classification as held for sale. Assets or groups of assets and related liabilities that qualify as held for sale are classified as discontinued operations when they represent a separate major line of business or geographical area, are part of a single plan to dispose of a separate major line of business or geographical area or are acquired exclusively with a view to resale. Income and expenses relating to these discontinued operations are disclosed in a single net amount after taxes in the income statement, with comparative amounts re-presented accordingly. Intra-Group balances and any unrealised gains and losses or income and expenses arising from trading between continuing and discontinued operations continue to be eliminated in preparing the consolidated financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-708": { "value": "Held for sale assets and liabilities and discontinued operations Non-current assets are classified as held for sale if their recoverable value is likely to be recovered via a sale or distribution as opposed to continued use by the Group. In order to be classified as assets held for sale, assets must meet all of the following conditions: the sale is highly probable; it is available for immediate sale; it is being actively marketed; and the sale is likely to occur within one year. Assets that qualify as held for sale and related liabilities are disclosed separately from other assets and liabilities in the balance sheet prospectively from the date of classification. Non-current assets determined as held for sale are measured at the lower of carrying value and fair value less costs to sell, no depreciation is charged in respect of these assets after classification as held for sale. Assets or groups of assets and related liabilities that qualify as held for sale are classified as discontinued operations when they represent a separate major line of business or geographical area, are part of a single plan to dispose of a separate major line of business or geographical area or are acquired exclusively with a view to resale. Income and expenses relating to these discontinued operations are disclosed in a single net amount after taxes in the income statement, with comparative amounts re-presented accordingly. Intra-Group balances and any unrealised gains and losses or income and expenses arising from trading between continuing and discontinued operations continue to be eliminated in preparing the consolidated financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-669": { "value": "Intangible assets (note 13) Goodwill and impairment testing Goodwill arising on a business combination represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of a subsidiary, associate or joint venture at the date of acquisition. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is reviewed for impairment at least on an annual basis. For the purpose of impairment testing, goodwill is allocated on initial recognition to the cash-generating units or groups of CGUs expected to benefit from the combination\u2019s synergies. The CGUs (or groups of CGUs) used for goodwill impairment testing purposes will represent how goodwill was attributed but may not represent reportable business segments. Goodwill may also arise upon investments in joint arrangements and associates. Goodwill arising on a joint operation is recorded as a separate asset and any impairment loss is recognised in the income statement. Goodwill arising on a joint venture or associate is recorded within the carrying amount of the Group\u2019s investment and any impairment loss is included within the share of result from joint ventures and associates. On disposal or closure of a previously acquired investment or business, any attributed goodwill will be included in determining the profit or loss on disposal. Allowances and certificates Allowances and certificates consist of purchased carbon emissions allowances and generated or purchased obligations certificates. Carbon emissions allowances are held to settle environmental obligations incurred by the Group\u2019s SSE Thermal and Energy Customer Solutions businesses under regulated emissions trading schemes. The Group\u2019s UK generation assets operate under the UK Emissions Trading Scheme (\u201cUK ETS\u201d), while the Group retains an EU Emissions Trading Scheme (\u201cEU ETS\u201d) obligation in respect of its Irish Thermal generation assets. Carbon allowances purchased and held to settle emissions obligations are recognised at cost as intangible assets. Forward carbon contracts are treated as financial instruments and measured at fair value with gains or losses arising on re-measurement being recognised in the income statement. A liability is recognised based on the level of emissions recorded. Up to the level of allowances held, including forward carbon contracts, the liability is measured at the cost of purchase. When the carbon emission liability exceeds the carbon allowances held, the difference is measured at market value of carbon allowances. Subsequent movements in market value are prospectively recognised in operating profit. The carbon allowance intangible asset is surrendered at the end of the compliance period to the extent requested reflecting the consumption of the economic benefit and is recorded as being utilised. As a result, no amortisation is booked but an impairment charge may be recognised should the carrying value of allowances exceed prevailing market price. Under the Renewable Obligations Certificates (\u201cROCs\u201d) scheme, certificates obtained from own generation are awarded by a third party, Ofgem. ROCs can be traded with third parties and are used by suppliers to demonstrate to Ofgem that they have met their obligation to source a set proportion of supplied electricity from renewable sources. The value of a ROC to a supplier comprises two elements: the \u201cbuy-out\u201d price which is set annually in advance of the compliance period by Ofgem; and the \u201crecycle\u201d price which is determined after the compliance period by Ofgem. The recycle price element is estimated at the balance sheet date based on assumptions around likely levels of renewable generation and supply over the remaining compliance period and is therefore subject to possible future variation. Where ROCs are self-generated or purchased to fulfil the Group\u2019s liability under the renewable obligation, they are recorded at market value at the point of generation or purchased cost within intangible assets. The Group can hold ROCs in excess of its obligation, which, due to limited evidence of liquidity or net settlement for ROC trades, are recorded at the lower of cost or net realisable value within inventories. Similarly, the fair value of any forward contracts entered into at the balance sheet date for the purchase or sale of ROCs in future periods are not recognised, as there is insufficient liquidity for net settlement. The Group\u2019s liability under the renewable obligation is recognised based on electricity supplied to customers, the obligation level set by Ofgem and the prevailing market price. The Group\u2019s Energy Customer Solutions segment holds Renewable Energy Guarantees of Origin certificates (\u201cREGOs\u201d) to meet contractual customer supply requirements relating to renewable electricity origin. REGOs are procured from third parties or generated by the Group\u2019s Renewable accredited assets and retained for surrender under the scheme. REGO certificates that are held to be surrendered are recorded as intangible assets at the prevailing market rate in line with the external obligation. Excess REGO certificates held by the Group are held in inventories at the lower of cost or net realisable value. The ROC and REGO intangible assets are surrendered at the end of the compliance period reflecting the consumption of economic benefit and release of the associated liability. As a result, no amortisation is recorded during the period. Research and development Expenditure on research activities is charged to the income statement as incurred. Expenditure on development activities is capitalised as intangible assets if the project or process is considered to be technically and commercially feasible and the Group intends to complete the project or process for use or for sale. Development projects include wind farm developments, battery storage and solar developments, thermal generation projects and other developments relating to proven technologies. Costs incurred in bringing these projects to the consent stage include options over land rights, planning application costs and environmental impact studies and may be costs incurred directly or part of the fair value exercise on acquisition of an interest in a project. At the point that the project reaches the consent stage and is approved by the Board, the carrying value of the project is transferred to property, plant and equipment as assets under construction. Revenue and costs incurred through pre-commissioning testing activities are reflected in the income statement. Once in operation, depreciation will be charged over the expected useful life of the asset. The asset is derecognised on disposal, or when no future economic benefits are expected to arise. Software assets Software assets that have been acquired separately by the Group are stated at cost less accumulated amortisation and impairment losses. Expenditure on internally developed software assets and application software licences includes contractors\u2019 fees and directly attributable labour and overheads. Amortisation is charged to the income statement on a straight-line basis over the estimated useful life of these assets. The amortisation periods utilised are as follows:
Years
Developed software assets and application
software licences
3\u201315
The useful lives of all the intangible assets are reviewed annually and amended, as required, on a prospective basis. Intangible assets are derecognised on disposal, or when no future economic benefits are expected from their use. Cloud computing arrangements The Group has contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements. Where the Group does not control the underlying assets in these arrangements, costs are expensed as incurred. Implementation costs in respect of these contracts are capitalised when the definition and recognition criteria of an intangible asset under IAS 38 are met. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-709": { "value": "
Goodwill and impairment testing
Goodwill arising on a business combination represents the excess of
the cost of acquisition over the Group\u2019s interest in the fair value of the
identifiable assets, liabilities and contingent liabilities of a subsidiary,
associate or joint venture at the date of acquisition. Following initial
recognition, goodwill is measured at cost less any accumulated
impairment losses. Goodwill is reviewed for impairment at least on an
annual basis.
For the purpose of impairment testing, goodwill is allocated on initial
recognition to the cash-generating units or groups of CGUs expected
to benefit from the combination\u2019s synergies. The CGUs (or groups of
CGUs) used for goodwill impairment testing purposes will represent
how goodwill was attributed but may not represent reportable
business segments.
Goodwill may also arise upon investments in joint arrangements and
associates. Goodwill arising on a joint operation is recorded as a
separate asset and any impairment loss is recognised in the income
statement. Goodwill arising on a joint venture or associate is recorded
within the carrying amount of the Group\u2019s investment and any
impairment loss is included within the share of result from joint
ventures and associates. On disposal or closure of a previously
acquired investment or business, any attributed goodwill will be
included in determining the profit or loss on disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-761": { "value": "
Allowances and certificates
Allowances and certificates consist of purchased carbon emissions
allowances and generated or purchased obligations certificates.
Carbon emissions allowances are held to settle environmental
obligations incurred by the Group\u2019s SSE Thermal and Energy
Customer Solutions businesses under regulated emissions trading
schemes. The Group\u2019s UK generation assets operate under the UK
Emissions Trading Scheme (\u201cUK ETS\u201d), while the Group retains an EU
Emissions Trading Scheme (\u201cEU ETS\u201d) obligation in respect of its Irish
Thermal generation assets. Carbon allowances purchased and held to
settle emissions obligations are recognised at cost as intangible assets.
Forward carbon contracts are treated as financial instruments and
measured at fair value with gains or losses arising on re-measurement
being recognised in the income statement. A liability is recognised
based on the level of emissions recorded. Up to the level of
allowances held, including forward carbon contracts, the liability is
measured at the cost of purchase. When the carbon emission liability
exceeds the carbon allowances held, the difference is measured at
market value of carbon allowances. Subsequent movements in
market value are prospectively recognised in operating profit.
The carbon allowance intangible asset is surrendered at the end
of the compliance period to the extent requested reflecting the
consumption of the economic benefit and is recorded as being
utilised. As a result, no amortisation is booked but an impairment
charge may be recognised should the carrying value of allowances
exceed prevailing market price.
Under the Renewable Obligations Certificates (\u201cROCs\u201d) scheme,
certificates obtained from own generation are awarded by a third
party, Ofgem. ROCs can be traded with third parties and are used
by suppliers to demonstrate to Ofgem that they have met their
obligation to source a set proportion of supplied electricity from
renewable sources. The value of a ROC to a supplier comprises two
elements: the \u201cbuy-out\u201d price which is set annually in advance of the
compliance period by Ofgem; and the \u201crecycle\u201d price which is
determined after the compliance period by Ofgem. The recycle price
element is estimated at the balance sheet date based on assumptions
around likely levels of renewable generation and supply over the
remaining compliance period and is therefore subject to possible
future variation.
213
Where ROCs are self-generated or purchased to fulfil the Group\u2019s liability under the renewable obligation, they are recorded at market value at the point of generation or purchased cost within intangible assets. The Group can hold ROCs in excess of its obligation, which, due to limited evidence of liquidity or net settlement for ROC trades, are recorded at the lower of cost or net realisable value within inventories. Similarly, the fair value of any forward contracts entered into at the balance sheet date for the purchase or sale of ROCs in future periods are not recognised, as there is insufficient liquidity for net settlement. The Group\u2019s liability under the renewable obligation is recognised based on electricity supplied to customers, the obligation level set by Ofgem and the prevailing market price. The Group\u2019s Energy Customer Solutions segment holds Renewable Energy Guarantees of Origin certificates (\u201cREGOs\u201d) to meet contractual customer supply requirements relating to renewable electricity origin. REGOs are procured from third parties or generated by the Group\u2019s Renewable accredited assets and retained for surrender under the scheme. REGO certificates that are held to be surrendered are recorded as intangible assets at the prevailing market rate in line with the external obligation. Excess REGO certificates held by the Group are held in inventories at the lower of cost or net realisable value. The ROC and REGO intangible assets are surrendered at the end of the compliance period reflecting the consumption of economic benefit and release of the associated liability. As a result, no amortisation is recorded during the period. Research and development Expenditure on research activities is charged to the income statement as incurred. Expenditure on development activities is capitalised as intangible assets if the project or process is considered to be technically and commercially feasible and the Group intends to complete the project or process for use or for sale. Development projects include wind farm developments, battery storage and solar developments, thermal generation projects and other developments relating to proven technologies. Costs incurred in bringing these projects to the consent stage include options over land rights, planning application costs and environmental impact studies and may be costs incurred directly or part of the fair value exercise on acquisition of an interest in a project. At the point that the project reaches the consent stage and is approved by the Board, the carrying value of the project is transferred to property, plant and equipment as assets under construction. Revenue and costs incurred through pre-commissioning testing activities are reflected in the income statement. Once in operation, depreciation will be charged over the expected useful life of the asset. The asset is derecognised on disposal, or when no future economic benefits are expected to arise. Software assets Software assets that have been acquired separately by the Group are stated at cost less accumulated amortisation and impairment losses. Expenditure on internally developed software assets and application software licences includes contractors\u2019 fees and directly attributable labour and overheads. Amortisation is charged to the income statement on a straight-line basis over the estimated useful life of these assets. The amortisation periods utilised are as follows:
Years
Developed software assets and application
software licences
3\u201315
The useful lives of all the intangible assets are reviewed annually and amended, as required, on a prospective basis. Intangible assets are derecognised on disposal, or when no future economic benefits are expected from their use. Cloud computing arrangements The Group has contracts for Software as a Service (\u201cSaaS\u201d) and Platform as a Service (\u201cPaaS\u201d) Cloud Computing Arrangements. Where the Group does not control the underlying assets in these arrangements, costs are expensed as incurred. Implementation costs in respect of these contracts are capitalised when the definition and recognition criteria of an intangible asset under IAS 38 are met. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-773": { "value": "
Research and development
Expenditure on research activities is charged to the income statement
as incurred.
Expenditure on development activities is capitalised as intangible
assets if the project or process is considered to be technically and
commercially feasible and the Group intends to complete the project
or process for use or for sale. Development projects include wind
farm developments, battery storage and solar developments, thermal
generation projects and other developments relating to proven
technologies. Costs incurred in bringing these projects to the consent
stage include options over land rights, planning application costs and
environmental impact studies and may be costs incurred directly or
part of the fair value exercise on acquisition of an interest in a project.
At the point that the project reaches the consent stage and is
approved by the Board, the carrying value of the project is transferred
to property, plant and equipment as assets under construction.
Revenue and costs incurred through pre-commissioning testing
activities are reflected in the income statement. Once in operation,
depreciation will be charged over the expected useful life of the asset.
The asset is derecognised on disposal, or when no future economic
benefits are expected to arise.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-670": { "value": "Property, plant and equipment (note 14) Owned assets Items of property, plant and equipment are stated at cost less accumulated depreciation and impairments. The cost of self- constructed assets includes the cost of materials, direct labour and other directly attributable costs. Where the asset is a qualifying asset, for which a considerable period of time is required to prepare the asset for use or sale, borrowing costs will be capitalised as part of the asset\u2019s cost. Where an item of property, plant and equipment comprises major components having different useful lives, the components are accounted for as separate items of property, plant and equipment, and depreciated accordingly. An item of property, plant and equipment is derecognised on disposal or when no future economic benefits are expected to arise from the continued use of the asset. Right of use assets Right of use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right of use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Where a modification to a lease agreement decreases the scope of the lease, the carrying amount of the right of use asset is adjusted and a gain or loss is recognised in proportion to the decrease in scope of the lease. All other modifications to lease agreements are accounted for as a reassessment of the lease liability with a corresponding adjustment to the right of use asset. Hydro civil assets The Group is obliged under the Reservoirs Act 1975 to maintain its hydro infrastructure network, including its dams, tunnels and other hydro civil engineering structures (hydro civil assets). All items of property, plant and equipment within hydro civil assets, with the exception of land, are subject to depreciation. In accordance with the transition provisions of IFRS 1 \u201cFirst-time Adoption of IFRS\u201d, the Group identified the carrying value of these assets at privatisation and has treated this value as deemed cost. Following this assessment, the assets, and all subsequent enhancement and replacement expenditure, has been subject to depreciation over a useful economic life of between 75 and 100 years. All subsequent maintenance expenditure is chargeable directly to the income statement. Depreciation Depreciation is charged to the income statement to write off cost, less residual values, on a straight line basis over their estimated useful lives. Heritable and freehold land is not depreciated. Depreciation policy, useful lives and residual values are reviewed at least annually, for all asset classes to ensure that the current method is the most appropriate. Depreciation commences following the asset commissioning period and when the asset is available for commercial operation. The estimated useful lives for assets depreciated on a straight line basis are as follows:
Years
Hydro civil assets (classified within Renewable power
generation assets)
75 to 100
Thermal and hydro power stations including electrical
and mechanical assets (classified within Thermal
power generation assets)
20 to 60
Onshore wind farms (classified within Renewable
power generation assets)
20 to 25
Offshore wind farms (classified within Renewable
power generation assets)
23 to 30
Battery Storage assets (classified within Renewable
power generation assets)
12 to 15
Gas storage facilities (classified within Other assets)
25 to 50
Overhead lines, underground and subsea cables and
other network assets (classified within Distribution or
Transmission network assets)
5 to 80
Office buildings (classified within Land and buildings)
30 to 40
Fixtures, IT assets, vehicles and mobile plant (classified
within Other assets)
3 to 15
Assets held under leases are depreciated over their expected useful lives on the same basis as owned assets or, where shorter, over the term of the relevant lease agreement. It is the Group policy to capitalise qualifying replacement expenditure and depreciate it over the expected useful life of the replaced asset. Replaced assets are derecognised at this point and the costs recorded as costs of disposal. Where an item of property, plant and equipment is replaced and it is not practicable to determine the carrying amount of the replaced part, the cost of the replacement part adjusted for inflation and depreciation will be used as an approximation.
Expenditure incurred to replace a component of an item of property,
plant and equipment that is accounted for separately is capitalised.
Other subsequent expenditure is capitalised only when it increases
the future economic benefits of the item of property, plant and
equipment to which it relates. Maintenance and repair costs are
expensed as incurred.
Derecognition
An item of property, plant or equipment is derecognised upon
disposal or when no future economic benefits are expected to arise
from the continued use of the asset. Gains and losses on disposals
are determined by comparing the proceeds received with the
carrying amount of the asset and are included in the income
statement. Any gain or loss on derecognition of the asset is
included in the income statement in the period of derecognition.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-710": { "value": "
Depreciation
Depreciation is charged to the income statement to write off cost,
less residual values, on a straight line basis over their estimated useful
lives. Heritable and freehold land is not depreciated. Depreciation
policy, useful lives and residual values are reviewed at least annually,
for all asset classes to ensure that the current method is the most
appropriate. Depreciation commences following the asset
commissioning period and when the asset is available for commercial
operation. The estimated useful lives for assets depreciated on a
straight line basis are as follows:
Years
Hydro civil assets (classified within Renewable power
generation assets)
75 to 100
Thermal and hydro power stations including electrical
and mechanical assets (classified within Thermal
power generation assets)
20 to 60
Onshore wind farms (classified within Renewable
power generation assets)
20 to 25
Offshore wind farms (classified within Renewable
power generation assets)
23 to 30
Battery Storage assets (classified within Renewable
power generation assets)
12 to 15
Gas storage facilities (classified within Other assets)
25 to 50
Overhead lines, underground and subsea cables and
other network assets (classified within Distribution or
Transmission network assets)
5 to 80
Office buildings (classified within Land and buildings)
30 to 40
Fixtures, IT assets, vehicles and mobile plant (classified
within Other assets)
3 to 15
Assets held under leases are depreciated over their expected useful
lives on the same basis as owned assets or, where shorter, over the
term of the relevant lease agreement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-671": { "value": "
Lease arrangements (note 21)
Lease arrangements are separately distinguished from service
contracts based on whether the contract conveys the right to control
the use of an identified asset for a period of time in exchange for
consideration. If the Group is deemed to control the use of an
identified asset, a right of use asset and a corresponding lease liability
are recognised on the balance sheet.
Right of use assets are capitalised and held as part of property,
plant and equipment. The accounting policy for such arrangements is
described above.
Lease liabilities are initially measured at the present value of the future
lease payments discounted using the rate implicit in the lease if that
can be readily determined. If the interest rate implicit in the lease
cannot be readily determined the incremental borrowing rate is used.
Where the interest rate implicit in the lease is not readily determinable,
the Group has applied the intercompany borrowing rate which is
based on the Group\u2019s external medium-term borrowing rates with
premia adjustments for any subsidiary specific risk factors.
In determining whether any break and/or extension clauses should be
included within the lease term, the Group has considered that where
an internal decision has been made to break or extend the lease
agreement, that decision shall be applied in determining the
appropriate lease term. Where an internal decision has not been
made, and where the non-cancellable element of the lease term has
longer than five years remaining, it is considered that any clauses will
not be triggered as any decision beyond that date is not reasonably
certain. For all leases with less than five years remaining, an
assessment is made at each reporting period on a lease-by-lease
basis on whether the clause is reasonably certain to be triggered.
Reassessment of break and/or extension judgements made in prior
periods could result in recalculation of the lease liability and
adjustments to associated balances.
The lease liability is subsequently adjusted for the unwind of
discounting, repayments and other modifications to the
underlying agreement. Lease modifications are accounted for
as a separate lease where the scope of the lease increases
through the right to use one or more underlying assets and where the
consideration of the lease increases by an amount that is equivalent
to the standalone price of the increase in scope. Where a
modification decreases the scope of the lease, the carrying amount
of the right of use asset is adjusted and a gain or loss is recognised
in proportion to the decrease in scope of the lease. All other
modifications are accounted for as a reassessment of the lease
liability with a corresponding adjustment to the right of use asset.
Leases with a duration of 12 months or less and leases for assets
which are deemed \u201clow value\u201d are expensed to the income statement
on a straight-line basis over the lease term.
215
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-742": { "value": "Impairment review (note 15) The carrying amounts of the Group\u2019s property, plant and equipment and other intangible assets and the Group\u2019s investments in joint ventures and associates, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, or where there are indications that a previously recognised impairment loss has reduced. For property, plant and equipment assets that have previously been identified as exhibiting indications of impairment, the review of impairment will be performed annually until there is sufficient evidence to confirm that any potential impairment loss has been appropriately recognised, or until previously recognised impairment losses have been fully written back. For goodwill and other intangible assets with an indefinite life or which are not yet ready for use, the test for impairment is carried out annually. In addition, financial assets measured at amortised cost are also reviewed for impairment annually. For assets subject to impairment testing, the asset\u2019s carrying value is compared to the asset\u2019s (or cash-generating unit\u2019s, in the case of goodwill), recoverable amount. The recoverable amount is determined to be the higher of the fair value less costs to sell (\u201cFVLCS\u201d) and the value-in-use (\u201cVIU\u201d) of the asset or cash-generating unit (\u201cCGU\u201d). For financial assets measured at amortised cost the impairment is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the financial asset\u2019s original effective interest rate. If the carrying amount of the asset or CGU exceeds its recoverable amount, an impairment charge will be recognised immediately in the income statement. Reversals of previous impairment charges are recognised if the recoverable amount of the asset or CGU significantly exceeds the carrying amount. Previous impairments of goodwill are not reversed. VIU calculations require the estimation of future cash flows to be derived from the respective assets (or CGUs) and the selection of an appropriate discount rate in order to calculate their present value. The VIU methodology is consistent with the approach taken by management to evaluate economic value and is deemed to be the most appropriate for reviews of property, plant and equipment assets and the Group\u2019s identified goodwill-related CGUs. The methodology is based on the pre-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a pre-tax discount rate based on the Group\u2019s cost of funding and adjusted for any specific risks. The estimation of the timing and value of underlying projected cash flows and the selection of appropriate discount rates involves management judgement. Subsequent changes to these estimates or judgements may impact the carrying value of the assets. The fair value less costs to sell methodology also uses a present value technique, unless there is a quoted price in an active market for that asset. The methodology is based on the post-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a post-tax discount rate determined in the same manner as the rates used in the VIU calculations, adjusted for the relevant taxation rate. Any impairment charge identified will initially be adjusted against the goodwill allocated to the cash-generating unit. Any excess charge will be allocated against the remaining assets of the cash-generating unit. Reversals of previous impairment charges are allocated against the carrying value of assets previously subject to an impairment charge. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-711": { "value": "Impairment review (note 15) The carrying amounts of the Group\u2019s property, plant and equipment and other intangible assets and the Group\u2019s investments in joint ventures and associates, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, or where there are indications that a previously recognised impairment loss has reduced. For property, plant and equipment assets that have previously been identified as exhibiting indications of impairment, the review of impairment will be performed annually until there is sufficient evidence to confirm that any potential impairment loss has been appropriately recognised, or until previously recognised impairment losses have been fully written back. For goodwill and other intangible assets with an indefinite life or which are not yet ready for use, the test for impairment is carried out annually. In addition, financial assets measured at amortised cost are also reviewed for impairment annually. For assets subject to impairment testing, the asset\u2019s carrying value is compared to the asset\u2019s (or cash-generating unit\u2019s, in the case of goodwill), recoverable amount. The recoverable amount is determined to be the higher of the fair value less costs to sell (\u201cFVLCS\u201d) and the value-in-use (\u201cVIU\u201d) of the asset or cash-generating unit (\u201cCGU\u201d). For financial assets measured at amortised cost the impairment is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the financial asset\u2019s original effective interest rate. If the carrying amount of the asset or CGU exceeds its recoverable amount, an impairment charge will be recognised immediately in the income statement. Reversals of previous impairment charges are recognised if the recoverable amount of the asset or CGU significantly exceeds the carrying amount. Previous impairments of goodwill are not reversed. VIU calculations require the estimation of future cash flows to be derived from the respective assets (or CGUs) and the selection of an appropriate discount rate in order to calculate their present value. The VIU methodology is consistent with the approach taken by management to evaluate economic value and is deemed to be the most appropriate for reviews of property, plant and equipment assets and the Group\u2019s identified goodwill-related CGUs. The methodology is based on the pre-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a pre-tax discount rate based on the Group\u2019s cost of funding and adjusted for any specific risks. The estimation of the timing and value of underlying projected cash flows and the selection of appropriate discount rates involves management judgement. Subsequent changes to these estimates or judgements may impact the carrying value of the assets. The fair value less costs to sell methodology also uses a present value technique, unless there is a quoted price in an active market for that asset. The methodology is based on the post-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a post-tax discount rate determined in the same manner as the rates used in the VIU calculations, adjusted for the relevant taxation rate. Any impairment charge identified will initially be adjusted against the goodwill allocated to the cash-generating unit. Any excess charge will be allocated against the remaining assets of the cash-generating unit. Reversals of previous impairment charges are allocated against the carrying value of assets previously subject to an impairment charge. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-672": { "value": "Impairment review (note 15) The carrying amounts of the Group\u2019s property, plant and equipment and other intangible assets and the Group\u2019s investments in joint ventures and associates, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, or where there are indications that a previously recognised impairment loss has reduced. For property, plant and equipment assets that have previously been identified as exhibiting indications of impairment, the review of impairment will be performed annually until there is sufficient evidence to confirm that any potential impairment loss has been appropriately recognised, or until previously recognised impairment losses have been fully written back. For goodwill and other intangible assets with an indefinite life or which are not yet ready for use, the test for impairment is carried out annually. In addition, financial assets measured at amortised cost are also reviewed for impairment annually. For assets subject to impairment testing, the asset\u2019s carrying value is compared to the asset\u2019s (or cash-generating unit\u2019s, in the case of goodwill), recoverable amount. The recoverable amount is determined to be the higher of the fair value less costs to sell (\u201cFVLCS\u201d) and the value-in-use (\u201cVIU\u201d) of the asset or cash-generating unit (\u201cCGU\u201d). For financial assets measured at amortised cost the impairment is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the financial asset\u2019s original effective interest rate. If the carrying amount of the asset or CGU exceeds its recoverable amount, an impairment charge will be recognised immediately in the income statement. Reversals of previous impairment charges are recognised if the recoverable amount of the asset or CGU significantly exceeds the carrying amount. Previous impairments of goodwill are not reversed. VIU calculations require the estimation of future cash flows to be derived from the respective assets (or CGUs) and the selection of an appropriate discount rate in order to calculate their present value. The VIU methodology is consistent with the approach taken by management to evaluate economic value and is deemed to be the most appropriate for reviews of property, plant and equipment assets and the Group\u2019s identified goodwill-related CGUs. The methodology is based on the pre-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a pre-tax discount rate based on the Group\u2019s cost of funding and adjusted for any specific risks. The estimation of the timing and value of underlying projected cash flows and the selection of appropriate discount rates involves management judgement. Subsequent changes to these estimates or judgements may impact the carrying value of the assets. The fair value less costs to sell methodology also uses a present value technique, unless there is a quoted price in an active market for that asset. The methodology is based on the post-tax cash flows arising from the specific assets, underlying assets or CGUs, and discounted using a post-tax discount rate determined in the same manner as the rates used in the VIU calculations, adjusted for the relevant taxation rate. Any impairment charge identified will initially be adjusted against the goodwill allocated to the cash-generating unit. Any excess charge will be allocated against the remaining assets of the cash-generating unit. Reversals of previous impairment charges are allocated against the carrying value of assets previously subject to an impairment charge. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-673": { "value": "Inventories (note 17) Inventories \u2013 aside from gas inventory purchased for trading activities \u2013 are valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. Gas inventory purchased for trading activities is held at fair value with reference to the forward month market price. Gains and losses on re- measurement at fair value are recognised within the income statement, as a \u201ccertain re-measurement\u201d item. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-674": { "value": "Provisions (note 20) A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation as a result of a past event, it can be measured reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Decommissioning The Group engages independent experts to estimate the cost to decommission its Renewable (Wind, Solar and Battery assets), Thermal and Gas Storage assets every three years. In the intervening years, management updates the external valuation based on factors arising since the last formal valuation date. Provision is made for the net present value of the estimated cost of decommissioning gas storage facilities, wind farms, power stations and battery storage assets at the end of the useful life of the facilities. This includes development assets, where if a present obligation exists, a provision is recognised during construction and prior to commencement of operations from the site. The estimates are based on technology and prices at the balance sheet date and exclude any salvage value related to those assets. A corresponding decommissioning asset is recognised and is included within property, plant and equipment when it gives access to future economic benefits, and is depreciated on a straight-line basis over the expected useful life of the asset. Changes in these provisions are recognised prospectively. The unwind of discounting of the provision is included in finance costs. The Group retained a decommissioning obligation following the disposal of its Gas Production business. The decommissioning cost estimates are updated periodically by field operators based on current technology and prices. Field operators also provide estimated end of field life dates for each field, which can change based on market commodity prices. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-712": { "value": "Decommissioning The Group engages independent experts to estimate the cost to decommission its Renewable (Wind, Solar and Battery assets), Thermal and Gas Storage assets every three years. In the intervening years, management updates the external valuation based on factors arising since the last formal valuation date. Provision is made for the net present value of the estimated cost of decommissioning gas storage facilities, wind farms, power stations and battery storage assets at the end of the useful life of the facilities. This includes development assets, where if a present obligation exists, a provision is recognised during construction and prior to commencement of operations from the site. The estimates are based on technology and prices at the balance sheet date and exclude any salvage value related to those assets. A corresponding decommissioning asset is recognised and is included within property, plant and equipment when it gives access to future economic benefits, and is depreciated on a straight-line basis over the expected useful life of the asset. Changes in these provisions are recognised prospectively. The unwind of discounting of the provision is included in finance costs. The Group retained a decommissioning obligation following the disposal of its Gas Production business. The decommissioning cost estimates are updated periodically by field operators based on current technology and prices. Field operators also provide estimated end of field life dates for each field, which can change based on market commodity prices. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-675": { "value": "Retirement benefit obligations (note 23) Defined benefit pension schemes The Group operates two defined benefit pension schemes, one of which is operated by the Company. Pension scheme assets are measured using bid market values. Pension scheme liabilities are measured using the projected unit credit actuarial method and are discounted at the current rate of return on a high-quality corporate bond of equivalent term and currency to the liability. Any increase in the present value of liabilities within the Group\u2019s defined benefit pension schemes expected to arise from employee service in the year is charged as service costs to operating profit. Net interest costs are based on net scheme assets or liabilities. Actuarial gains and losses are recognised in full in the consolidated statement of comprehensive income. Pension scheme surpluses, to the extent that they are considered recoverable, or deficits are recognised in full and presented on the face of the balance sheet. Defined contribution pension schemes The Group also operates a number of defined contribution pension schemes. The assets of the schemes are held separately from those of the Group in independently administered funds. The amounts charged represent the contributions payable to the schemes in the year and are charged directly to the income statement. Equity and equity-related compensation benefits The Group operates a number of employee share schemes as described in the Remuneration Report. These schemes enable Group employees to acquire shares of the Company. The exercise prices of the sharesave scheme are set at a discount to market price at the date of the grant. The fair value of the sharesave scheme option granted is measured at the grant date by use of a Black-Scholes model. The fair value of the options granted is recognised as an expense on a straight-line basis over the period that the scheme vests. Estimates are updated for non-market conditions at each balance sheet date with any adjustment in respect of the current and prior years being recognised in the income statement. The costs associated with the other main employee schemes are recognised over the period to which they relate. The charge related to the equity shares in the Company awarded under the share schemes is treated as an increase in the cost of investment held by the Company in the subsidiary companies of the Group. The disclosures on equity and equity-related compensation benefits have been removed on the grounds of materiality in relation to the Group. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-676": { "value": "Financial instruments (note 24) The Group uses a range of financial instruments to manage exposures to financial risks, such as interest rate, foreign exchange and energy price fluctuations in its normal course of business. Hedge accounting is applied where the relevant qualifying criteria are met and is aligned to the Group\u2019s risk management objectives and policies, which are further explained in A6. During the year ended 31 March 2026, the Group completed an assessment of the impact of transitioning from IAS 39 \u201cFinancial Instruments: Recognition and Measurement\u201d to the hedge accounting requirements of IFRS 9 \u201cFinancial Instruments\u201d. The assessment concluded that the Group\u2019s existing hedging relationships and risk management strategies would continue to qualify for hedge accounting on adoption of IFRS 9. Accordingly, the Group has continued to apply the hedge accounting requirements of IAS 39, as permitted by IFRS 9, as this model continues to appropriately reflect the Group\u2019s risk management activities in the financial statements. The Group will adopt IFRS 9 Financial Instruments in full from 1 April 2026. Interest rate and foreign exchange derivatives Financial derivative instruments are used by the Group to manage interest rate and currency exposures. All such derivatives are recognised at fair value and are re-measured to fair value each reporting period. Certain derivative financial instruments are designated as being held for hedging purposes. The designation of the hedge relationship is established at the inception of the hedge and procedures are applied to ensure the derivative is highly effective in achieving its objective and that the effectiveness of the hedge can be reliably measured. The treatment of gains and losses on re- measurement is dependent on the classification of the hedge and whether the hedge relationship is designated as either a \u201cfair value\u201d or \u201ccash flow\u201d hedge. Derivatives that are not designated as hedges are treated as if held for trading, with all fair value movements being recorded through the income statement. A derivative classified as a \u201cfair value\u201d hedge recognises gains and losses from re-measurement immediately in the income statement. Loans and borrowings are measured at cost except where they form the underlying transaction in an effective fair value hedge relationship. In such cases, the carrying value of the loan or borrowing is adjusted to reflect fair value movements with the gain or loss being reported in the income statement. A derivative classified as a \u201ccash flow\u201d hedge recognises the portion of gains or losses on the derivative which are deemed to be effective directly in equity in the hedge reserve. Any ineffective portion of the gains or losses is recognised in the consolidated income statement. When hedged cash flows result in the recognition of a non-financial asset or liability, the associated gains or losses previously recognised in equity are included in the initial measurement of the asset or liability. For all other cash flow hedges, the gains or losses that are recognised in equity are transferred to the income statement in the same period in which the hedged cash flows affect the income statement. Hedge accounting is discontinued when the hedging instrument expires, or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At the point of discontinuation, any cumulative gain or loss on the hedging instrument recognised in equity remains in equity until the forecast transaction affects profit or loss. On settlement, the cumulative gain or loss recognised in equity is recognised in the income statement. Commodity derivatives Within its regular course of business, the Group routinely enters into sale and purchase derivative contracts for commodities such as power, gas and carbon. Where the contract was entered into and continues to be held for the purpose of receipt or delivery in accordance with the Group\u2019s expected sale, purchase or usage requirements, the contracts are designated as \u201cown use\u201d contracts and are measured at cost. These contracts are not within the scope of IFRS 9. Derivative commodity contracts which are not designated as own use contracts are accounted for as trading derivatives and are recognised in the balance sheet at fair value. Where a hedge accounting relationship is designated and is proven to be effective, the changes in fair value will be recognised in accordance with the rules noted above. There are currently no designated hedge relationships in relation to commodity contracts. Other commodity contracts, where own use is not established and a hedge accounting relationship is not designated, are measured at fair value with gains and losses on re-measurement being recognised in the income statement in cost of sales. Embedded derivatives Derivatives embedded in other financial instruments or other host contracts are treated as separate derivatives where the characteristics of the derivatives are not closely related to those of the host contracts. Net investment hedges Hedges of net investments in foreign operations are accounted in a manner similar to effective cash flow hedges. Any gain or loss on the effective portion of the hedge is recognised in equity, in the translation reserve, and any gain or loss on the ineffective portion of the hedge is recognised in the income statement. On disposal of the foreign operation, the cumulative value of any gains or losses recognised directly in equity is transferred to the income statement. Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with a maturity of three months or less. Bank overdrafts that are repayable on demand and form an integral part of the Group\u2019s cash management are included as a component of cash and cash equivalents for the purpose of the statement of cash flows. Trade receivables Trade receivables do not carry any interest and are measured at cost less an appropriate allowance for lifetime expected credit losses. At the end of each reporting period a review of the allowance for impairment of trade receivables (or bad debt provision) is performed by the respective businesses. Trade receivables do not contain a significant financing element, and therefore expected credit losses are measured using the simplified approach permitted by IFRS 9, which requires lifetime expected credit losses to be recognised on initial recognition. A provision matrix is utilised to estimate the lifetime expected credit losses, based on the age, status and risk of each class of receivable, which is updated periodically to include changes to both forward-looking and historical inputs. Interest-bearing loans and borrowings All such loans and borrowings are initially recognised at fair value including transaction costs and are subsequently measured at amortised cost, except where the loan or borrowing is the hedged item in an effective fair value hedge relationship. Commercial (and affiliate) contracts for difference The Group has commercial Contracts for Difference (\u201cCfD\u201d) arrangements in place where the Group has agreed to provide a revenue support contract. Where the Group has entered into these arrangements and there is no relationship with a government entity, the instruments are classified as derivatives and accounted for under IFRS 9. The Group has assessed that due to the valuation complexity of these arrangements, they are Level 3 financial instruments in the fair value hierarchy. On day 1, the Group recognises no gain or loss arising from the instrument, but instead defers this gain or loss and recognises it progressively over the life of the instrument. At each balance sheet date the fair value of the instrument is assessed with any movement in fair value recognised in the income statement in the period it arises. Financial guarantee liabilities The Group issues financial guarantee contracts to make specified payments to reimburse holders for losses incurred if certain former subsidiaries and certain current joint venture investments fail to make payments when due in accordance with the original or modified terms of a debt instrument. Financial guarantee contracts are initially measured at fair value and subsequently measured at the higher of the loss allowance for expected credit losses and the initial fair value less any income recognised. Share capital Ordinary shares are accounted for as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction from the proceeds received. Own equity instruments that are reacquired are deducted from equity. No gain or loss is recognised in the Group income statement on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. Hybrid equity Hybrid equity comprises issued bonds that qualify for recognition as equity as they have no fixed redemption date. Accordingly, any coupon payments are accounted for as dividends and are recognised directly in equity at the time the payment obligation arises. This is because the coupon payments are discretionary and relate to equity. Coupon payments consequently do not have any impact on the income statement. Coupon payments are recognised in the cash flow statement in the same way as dividends to ordinary shareholders. Tax credits in relation to the coupon payments are linked to the past transactions or events that support the coupon payments and consequently the tax credits are reported in the income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-743": { "value": "Interest rate and foreign exchange derivatives Financial derivative instruments are used by the Group to manage interest rate and currency exposures. All such derivatives are recognised at fair value and are re-measured to fair value each reporting period. Certain derivative financial instruments are designated as being held for hedging purposes. The designation of the hedge relationship is established at the inception of the hedge and procedures are applied to ensure the derivative is highly effective in achieving its objective and that the effectiveness of the hedge can be reliably measured. The treatment of gains and losses on re- measurement is dependent on the classification of the hedge and whether the hedge relationship is designated as either a \u201cfair value\u201d or \u201ccash flow\u201d hedge. Derivatives that are not designated as hedges are treated as if held for trading, with all fair value movements being recorded through the income statement. A derivative classified as a \u201cfair value\u201d hedge recognises gains and losses from re-measurement immediately in the income statement. Loans and borrowings are measured at cost except where they form the underlying transaction in an effective fair value hedge relationship. In such cases, the carrying value of the loan or borrowing is adjusted to reflect fair value movements with the gain or loss being reported in the income statement. A derivative classified as a \u201ccash flow\u201d hedge recognises the portion of gains or losses on the derivative which are deemed to be effective directly in equity in the hedge reserve. Any ineffective portion of the gains or losses is recognised in the consolidated income statement. When hedged cash flows result in the recognition of a non-financial asset or liability, the associated gains or losses previously recognised in equity are included in the initial measurement of the asset or liability. For all other cash flow hedges, the gains or losses that are recognised in equity are transferred to the income statement in the same period in which the hedged cash flows affect the income statement. Hedge accounting is discontinued when the hedging instrument expires, or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At the point of discontinuation, any cumulative gain or loss on the hedging instrument recognised in equity remains in equity until the forecast transaction affects profit or loss. On settlement, the cumulative gain or loss recognised in equity is recognised in the income statement. Commodity derivatives Within its regular course of business, the Group routinely enters into sale and purchase derivative contracts for commodities such as power, gas and carbon. Where the contract was entered into and continues to be held for the purpose of receipt or delivery in accordance with the Group\u2019s expected sale, purchase or usage requirements, the contracts are designated as \u201cown use\u201d contracts and are measured at cost. These contracts are not within the scope of IFRS 9. Derivative commodity contracts which are not designated as own use contracts are accounted for as trading derivatives and are recognised in the balance sheet at fair value. Where a hedge accounting relationship is designated and is proven to be effective, the changes in fair value will be recognised in accordance with the rules noted above. There are currently no designated hedge relationships in relation to commodity contracts. Other commodity contracts, where own use is not established and a hedge accounting relationship is not designated, are measured at fair value with gains and losses on re-measurement being recognised in the income statement in cost of sales. Embedded derivatives Derivatives embedded in other financial instruments or other host contracts are treated as separate derivatives where the characteristics of the derivatives are not closely related to those of the host contracts. Net investment hedges Hedges of net investments in foreign operations are accounted in a manner similar to effective cash flow hedges. Any gain or loss on the effective portion of the hedge is recognised in equity, in the translation reserve, and any gain or loss on the ineffective portion of the hedge is recognised in the income statement. On disposal of the foreign operation, the cumulative value of any gains or losses recognised directly in equity is transferred to the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-713": { "value": "Interest rate and foreign exchange derivatives Financial derivative instruments are used by the Group to manage interest rate and currency exposures. All such derivatives are recognised at fair value and are re-measured to fair value each reporting period. Certain derivative financial instruments are designated as being held for hedging purposes. The designation of the hedge relationship is established at the inception of the hedge and procedures are applied to ensure the derivative is highly effective in achieving its objective and that the effectiveness of the hedge can be reliably measured. The treatment of gains and losses on re- measurement is dependent on the classification of the hedge and whether the hedge relationship is designated as either a \u201cfair value\u201d or \u201ccash flow\u201d hedge. Derivatives that are not designated as hedges are treated as if held for trading, with all fair value movements being recorded through the income statement. A derivative classified as a \u201cfair value\u201d hedge recognises gains and losses from re-measurement immediately in the income statement. Loans and borrowings are measured at cost except where they form the underlying transaction in an effective fair value hedge relationship. In such cases, the carrying value of the loan or borrowing is adjusted to reflect fair value movements with the gain or loss being reported in the income statement. A derivative classified as a \u201ccash flow\u201d hedge recognises the portion of gains or losses on the derivative which are deemed to be effective directly in equity in the hedge reserve. Any ineffective portion of the gains or losses is recognised in the consolidated income statement. When hedged cash flows result in the recognition of a non-financial asset or liability, the associated gains or losses previously recognised in equity are included in the initial measurement of the asset or liability. For all other cash flow hedges, the gains or losses that are recognised in equity are transferred to the income statement in the same period in which the hedged cash flows affect the income statement. Hedge accounting is discontinued when the hedging instrument expires, or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At the point of discontinuation, any cumulative gain or loss on the hedging instrument recognised in equity remains in equity until the forecast transaction affects profit or loss. On settlement, the cumulative gain or loss recognised in equity is recognised in the income statement. Commodity derivatives Within its regular course of business, the Group routinely enters into sale and purchase derivative contracts for commodities such as power, gas and carbon. Where the contract was entered into and continues to be held for the purpose of receipt or delivery in accordance with the Group\u2019s expected sale, purchase or usage requirements, the contracts are designated as \u201cown use\u201d contracts and are measured at cost. These contracts are not within the scope of IFRS 9. Derivative commodity contracts which are not designated as own use contracts are accounted for as trading derivatives and are recognised in the balance sheet at fair value. Where a hedge accounting relationship is designated and is proven to be effective, the changes in fair value will be recognised in accordance with the rules noted above. There are currently no designated hedge relationships in relation to commodity contracts. Other commodity contracts, where own use is not established and a hedge accounting relationship is not designated, are measured at fair value with gains and losses on re-measurement being recognised in the income statement in cost of sales. Embedded derivatives Derivatives embedded in other financial instruments or other host contracts are treated as separate derivatives where the characteristics of the derivatives are not closely related to those of the host contracts. Net investment hedges Hedges of net investments in foreign operations are accounted in a manner similar to effective cash flow hedges. Any gain or loss on the effective portion of the hedge is recognised in equity, in the translation reserve, and any gain or loss on the ineffective portion of the hedge is recognised in the income statement. On disposal of the foreign operation, the cumulative value of any gains or losses recognised directly in equity is transferred to the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-762": { "value": "Net investment hedges Hedges of net investments in foreign operations are accounted in a manner similar to effective cash flow hedges. Any gain or loss on the effective portion of the hedge is recognised in equity, in the translation reserve, and any gain or loss on the ineffective portion of the hedge is recognised in the income statement. On disposal of the foreign operation, the cumulative value of any gains or losses recognised directly in equity is transferred to the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-714": { "value": "Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with a maturity of three months or less. Bank overdrafts that are repayable on demand and form an integral part of the Group\u2019s cash management are included as a component of cash and cash equivalents for the purpose of the statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-715": { "value": "Trade receivables Trade receivables do not carry any interest and are measured at cost less an appropriate allowance for lifetime expected credit losses. At the end of each reporting period a review of the allowance for impairment of trade receivables (or bad debt provision) is performed by the respective businesses. Trade receivables do not contain a significant financing element, and therefore expected credit losses are measured using the simplified approach permitted by IFRS 9, which requires lifetime expected credit losses to be recognised on initial recognition. A provision matrix is utilised to estimate the lifetime expected credit losses, based on the age, status and risk of each class of receivable, which is updated periodically to include changes to both forward-looking and historical inputs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-717": { "value": "Interest-bearing loans and borrowings All such loans and borrowings are initially recognised at fair value including transaction costs and are subsequently measured at amortised cost, except where the loan or borrowing is the hedged item in an effective fair value hedge relationship. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-744": { "value": "Interest-bearing loans and borrowings All such loans and borrowings are initially recognised at fair value including transaction costs and are subsequently measured at amortised cost, except where the loan or borrowing is the hedged item in an effective fair value hedge relationship. Commercial (and affiliate) contracts for difference The Group has commercial Contracts for Difference (\u201cCfD\u201d) arrangements in place where the Group has agreed to provide a revenue support contract. Where the Group has entered into these arrangements and there is no relationship with a government entity, the instruments are classified as derivatives and accounted for under IFRS 9. The Group has assessed that due to the valuation complexity of these arrangements, they are Level 3 financial instruments in the fair value hierarchy. On day 1, the Group recognises no gain or loss arising from the instrument, but instead defers this gain or loss and recognises it progressively over the life of the instrument. At each balance sheet date the fair value of the instrument is assessed with any movement in fair value recognised in the income statement in the period it arises. Financial guarantee liabilities The Group issues financial guarantee contracts to make specified payments to reimburse holders for losses incurred if certain former subsidiaries and certain current joint venture investments fail to make payments when due in accordance with the original or modified terms of a debt instrument. Financial guarantee contracts are initially measured at fair value and subsequently measured at the higher of the loss allowance for expected credit losses and the initial fair value less any income recognised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-716": { "value": "Share capital Ordinary shares are accounted for as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction from the proceeds received. Own equity instruments that are reacquired are deducted from equity. No gain or loss is recognised in the Group income statement on the purchase, sale, issue or cancellation of the Group\u2019s own equity instruments. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-677": { "value": "
A3. Related undertakings
A3.1.1 Subsidiary undertakings
Details of the Group\u2019s subsidiary undertakings at 31 March are as follows:
Registered 2026
address Holding
Company (Key) %
United Kingdom
Aberarder Wind Farm (Scotland) Limited
A
100.0
Aberarder Wind Farm LLP
B
100.0
Abernedd Power Company Limited
B
100.0
Aegletes III Holdco Limited
B
100.0
Aldbrough Pathfinder Limited
B
100.0
Berwick Bank A Limited
B
100.0
Berwick Bank B Limited
B
100.0
Berwick Bank C Limited
B
100.0
Berwick Bank Holdings A Limited
B
100.0
Berwick Bank Holdings B Limited
B
100.0
Berwick Bank Holdings C Limited
B
100.0
Berwick Bank Wind Farm Limited
A
100.0
Bhlaraidh Extension Wind Farm Limited
A
100.0
Bhlaraidh Wind Farm Limited
A
100.0
Building Automation Solutions Limited
D
100.0
By-Pass Farm Solar Limited
B
100.0
Coire Glas Hydro Pumped Storage Limited
A
100.0
Enerveo Limited
T
100.0
Ferrybridge Hydrogen Limited
B
100.0
Fibre Fuel Limited
B
100.0
Fibre Power (Slough) Limited
B
100.0
Griffin Wind Farm Limited
A
100.0
Hydro Electric Pension Scheme Trustees
A
100.0
Limited
Keadby Developments Limited
E
100.0
Keadby Generation Limited
E
100.0
Keadby Next Generation Limited
B
100.0
Keadby Wind Farm Limited
B
100.0
LG-B-300 Limited
A
100.0
Littleton Pastures Solar Limited
B
100.0
Medway Power Limited
B
100.0
Optimal Power Networks Limited
B
100.0
Power from Waste Limited
B
100.0
Scottish and Southern Energy Power
A
100.0
Distribution Limited
Scottish Hydro Electric Power Distribution plc
A
100.0
Scottish Hydro Electric Transmission plc
A
75.0
Slough Domestic Electricity Limited
B
100.0
Slough Electricity Contracts Limited
B
100.0
Slough Energy Supplies Limited
B
100.0
Slough Heat & Power Limited
B
100.0
Slough Utility Services Limited
B
100.0
Southern Electric Power Distribution plc
B
100.0
SSE Airtricity Energy Services (NI) Limited
Q
100.0
SSE Airtricity Energy Supply (NI) Limited
F
100.0
SSE Airtricity Gas Supply (NI) Limited
F
100.0
SSE Battery Monk Fryston Limited
B
100.0
SSE Battery Salisbury Limited
B
100.0
SSE Beatrice Offshore Windfarm Holdings
A
100.0
Limited
SSE BTM HoldCo Limited
B
100.0
SSE BTM Operational Assets Limited
B
100.0
SSE Contracting Group Limited
B
100.0
SSE Cottered Solar Limited
B
100.0
SSE Daines BESS Limited
B
100.0
SSE DE Solar Holdco Limited
B
100.0
SSE Derrymeen BESS Limited
F
100.0
SSE Digital Services Limited
B
100.0
Registered 2026
address Holding
Company (Key) %
SSE Eggborough Limited
B
100.0
SSE Energy Markets Limited
B
100.0
SSE Energy Supply Limited
B
100.0
SSE Enterprise Limited
B
100.0
SSE Ewerby Solar Holdco Limited
B
100.0
SSE Ewerby Solar Limited
B
100.0
SSE Fancott BESS Limited
B
100.0
SSE Ferrybridge Battery Limited
B
100.0
SSE Fiddlers Ferry Battery Limited
B
100.0
SSE Foxholes Solar Limited
B
100.0
SSE Generation Limited
B
100.0
SSE Group Limited
A
100.0
SSE Heat Networks (Battersea) Limited
B
100.0
SSE Heat Networks Limited
A
100.0
SSE Hornsea Limited
B
100.0
SSE HV Electricity Assets Limited
B
100.0
SSE Hydrogen Holdings Limited
B
100.0
SSE Hydrogen Developments Limited
B
100.0
SSE IAMP Microgrid Limited
B
100.0
SSE Imperial Park PN Limited
B
100.0
SSE Knapthorpe Solar Limited
B
100.0
SSE Low Carbon Developments Limited
B
100.0
SSE Low Carbon Holdings Limited
B
100.0
SSE Maple Limited
B
100.0
SSE Medway Operations Limited
B
100.0
SSE Micro Renewables Limited
A
100.0
SSE Multifuel Generation Holdings Limited
B
100.0
SSE Muskham Solar Limited
B
100.0
SSE Newchurch Solar Limited
B
100.0
SSE OWS Glasgow Limited
A
100.0
SSE Private Networks Holdco Limited
B
100.0
SSE Production Services Limited
B
100.0
SSE Renewables Holdings (UK) Limited
F
100.0
SSE Renewables International Holdings Limited
A
100.0
SSE Renewables Limited
A
100.0
SSE Renewables Offshore Windfarm Holdings
A
100.0
Limited
SSE Renewables Onshore Windfarm Holdings
F
100.0
Limited
SSE Renewables Poland Holdings Limited
A
100.0
SSE Renewables Services (UK) Limited
F
100.0
SSE Renewables Solar & Battery Holdings
B
100.0
Limited
SSE Renewables UK Limited
F
100.0
SSE Renewables Wind Farms (UK) Limited
A
100.0
SSE Retail Limited
A
100.0
SSE Seabank Investments Limited
B
100.0
SSE Seabank Land Investments Limited
B
100.0
SSE Services plc
B
100.0
SSE Southern Group Trustee Limited
B
100.0
SSE Staythorpe Battery Limited
B
100.0
SSE Staythorpe Power Limited
B
100.0
SSE Staythorpe SGT Limited
B
100.0
SSE Staythorpe Solar Limited
B
100.0
SSE Southery Solar Limited
B
100.0
SSE Stock Limited
A
100.0
SSE Thermal Energy Holdings Limited
B
100.0
SSE Thermal Energy Operations Limited
B
100.0
SSE Thermal Generation (Scotland) Limited
A
100.0
A3.1.1 Subsidiary undertakings continued
Registered 2026
address Holding
Company (Key) %
U
nite
d
Kingdo
m
continued
SSE Thermal Generation Holdings Limited
B
100.0
SSE Toddleburn Limited
A
100.0
SSE Trading Limited
B
100.0
SSE Trustees Limited
B
100.0
SSE Utility Services Limited
B
100.0
SSE Utility Solutions Limited
B
100.0
SSE Venture Capital Limited
A
100.0
SSE Viking Limited
B
100.0
SSE(SE) Quest Trustee Limited
B
100.0
SSEN Distribution Limited
A
100.0
SSEPG (Operations) Limited
B
100.0
Strathy Wind Farm Limited
A
100.0
Tealing Solar Park Limited
B
100.0
TESGL Limited
D
100.0
The Energy Solutions Group Bidco Limited
D
100.0
The Energy Solutions Group Midco Limited
D
100.0
The Energy Solutions Group Topco Limited
D
100.0
Viking Energy (Scottish Partnership)
A
100.0
Viking Energy Wind Farm LLP
A
100.0
Ireland
Airtricity Windfarm Finance Limited
C
100.0
Arklow Offshore Phase II Company Limited
C
100.0
Bindoo Windfarm (ROI) Limited
C
100.0
Brickmount Limited
C
100.0
Comhlacht Gaoithe Teoranta
C
100.0
Coomacheo Wind Farm Limited
C
100.0
Coomatallin Windfarm (ROI) Limited
C
100.0*
Curragh Mountain Windfarm Limited
C
100.0
Dedondo Limited
C
100.0
Dromada Windfarm (ROI) Limited
C
100.0
Enerveo Ireland Limited
Z
100.0
Galway Wind Park Phase 3 Designated Activity
C
100.0
Company
Ganderoy Limited
C
100.0
Gartnaneane Limited
C
100.0*
Glenora Wind Farm Designated Activity Company
C
100.0
Green Wind Energy (Wexford) Limited
C
100.0
Leanamore Wind Farm Limited
C
100.0
Lenalea Wind Farm Designated Activity Company
C
100.0
Limerick West Windfarm Limited
C
100.0
March Winds Limited
C
100.0
Meentycat Limited
C
100.0
Milane Holdings Limited
C
100.0
Mullananalt Wind Farm (ROI) Limited
C
100.0
Platin Power Limited
C
100.0
Richfield Windfarm (ROI) Limited
C
100.0
Sheskin South Renewables Power Designated
C
100.0
Activity Company
SSE Airtricity Distributed Energy Limited
C
100.0
SSE Airtricity Energy Services Limited
C
100.0
SSE Airtricity Limited
C
100.0
SSE Cumars\u00e1id Teoranta
C
100.0
SSE Generation Ireland Limited
C
100.0
SSE Renewables (Ireland) Limited
C
100.0
SSE Renewables Generation Ireland Limited
C
100.0
SSE Renewables Holdings (Europe) Limited
C
100.0
SSE Renewables Holdings Limited
C
100.0
SSE Renewables Off Shore Limited
C
100.0
SSE Renewables Wind (Ireland) Holdings Limited
C
100.0
Registered 2026
address Holding
Company (Key) %
SSE Renewables Wind Farms (Ireland) Limited
C
100.0
Sure Partners Limited
C
100.0
SSE Renewables Tinnycross Battery Storage
C
100.0
Limited
Tournafulla Windfarm (ROI) Limited
C
100.0
Zeusford Limited
C
100.0
France
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) d\u2019orchamps
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) de la Cuesta
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) de Vireaux
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) des Jacquessons
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Chaintrix Bierges SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Champeaux SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Germainville SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Belle
AE
100.0
Dame SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Brie
AE
100.0
des Etangs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la
AE
100.0
Monchot SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la T\u00eate
AE
100.0
des Boucs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
la Voie Pou\u00e7oise
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Moulins du Puits SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Pringy
AE
100.0
SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Saint
AE
100.0
Loup de Saintonge SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
Salon Sud
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Souvans SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Vernierfontaine SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Villiers
AE
100.0
aux Ch\u00eanes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des
AE
100.0
Fontaines SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Six
AE
100.0
Communes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Voies
AE
100.0
de Bar SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Mont
AE
100.0
\u00c9gar\u00e9 SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Vireaux
AE
100.0
SAS
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) d\u2019Orchamps SAS
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) de la Cuesta SARL
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) du Tonnerrois
AE
100.0
SSE Renewables France SARL
AE
100.0
Germany
SSE Renewables Developments (Germany)
U
100.0
GmbH
Greece
Enerfarm 3 Single Member S.A. Renewable
AB
100.0
Energy Sources
Energiaki Kleidi Single Member S.A.
AB
100.0
Energiaki Mavrovouniou Single Member Private
AB
100.0
Company
Energiaki Mesovouniou Single Member S.A.
AB
100.0
Energiaki Platorrachis Single Member S.A.
AB
100.0
Energiaki Velanidias Single Member S.A.
AB
100.0
SSE Renewables Hellas Single Member S.A.
AB
100.0
Isle of Man
SSE Insurance Limited
G
100.0
Italy
SPV Parco Eolico Libeccio S.r.l.
AC
100.0
SPV Parco Eolico Maestrale S.r.l.
AC
100.0
SPV Parco Eolico Tramontana S.r.l.
AC
100.0
SSE Renewables Italy S.r.l.
AC
100.0
Japan
Aichi Offshore Wind Power No. 1 G.K.
Y
80.0
Aichi Offshore Wind Power No. 2 G.K.
Y
80.0
Enshunada Offshore Wind Power No. 1 G.K.
Y
80.0
GIF Phase 2 G.K. (formerly Niigata Offshore
Y
80.0
Wind Power No.1 G.K.)
Goto-Fukue Offshore Wind Power G.K.
Y
80.0
Izu Islands Offshore Wind Power No. 1 G.K.
Y
80.0
Minami-Izu Offshore Wind Power No. 1 G.K.
Y
80.0
Oki Islands Offshore Wind Power G.K.
Y
80.0
SSE Pacifico K.K.
Y
80.0
SSE Yuza Offshore Wind Power G.K.
Y
80.0
Tokushima Offshore Wind Power G.K.
Y
80.0
Wakayama-West Offshore Wind Power No. 1
Y
80.0
G.K.
Wakayama-West Offshore Wind Power No. 2
Y
80.0
G.K.
Netherlands
SSE Renewables (Netherlands) Holdings B.V.
AA
100.0
SSE Renewables Developments (The
Netherlands) B.V.
AA
100.0
SSE Sunflower Offshore Wind Holdco B.V.
AA
100.0
SSE Sunflower Offshore Wind Limited Partner 1
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 2
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 3
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner
AA
100.0
4B.V.
SSE Tulip Offshore Wind Holdco B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 1 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 2 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 3 B.V.
AA
100.0
Poland
IBC SE PL3 sp. z o.o.
AJ
100.0
IBC SE PL20 sp. z o.o.
AJ
100.0
IBC SE PL22 sp. z o.o.
AJ
100.0
IBC SE PL23 sp. z o.o.
AJ
100.0
IBC SE PL24 sp. z o.o.
AJ
100.0
IBC SE PL34 sp. z o.o.
AJ
100.0
Pomerania PV sp z.o.o.
AJ
100.0
SSE Renewables Poland sp z.o.o. w likwidacji
(formerly SSE Renewables Poland sp z.o.o.)
X
100.0
Spain
ICE Torrecilla Renovables S.L.
W
80.3
Sistemas Energ\u00e9ticos \u00c1brego S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ariel S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Boreas S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos C\u00e9firo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos del Sur S.A.U.
AD
100.0
Sistemas Energ\u00e9ticos Eolo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 1 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 2 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Gregal S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos J\u00fapiter S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Marte S.L. U.
AD
100.0
Sistemas Energ\u00e9ticos Mercurio S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Neptuno S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ober\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Plut\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tablero Tabordo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Terral S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tit\u00e1n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Urano S.L.U.
AD
100.0
SSE Renewables Southern Europe S.L.
AD
100.0
SSE Renewables Spain S.L.
AD
100.0
All shares in subsidiary companies are ordinary share capital, unless otherwise stated.
* 100% of voting rights held.
Statutory audit exemptions
SSE plc parent company has provided guarantees under section 479C of the Companies Act 2006 over the liabilities of the following
companies, which are therefore exempt from audit under the requirements of s479A-479C of the Companies Act 2006.
Registered
Company number
Aberarder Wind Farm (Scotland) Limited
SC746968
Aberarder Wind Farm LLP
OC398487
Abernedd Power Company Limited
06383166
Aegletes III Holdco Limited
13665453
Aldbrough Pathfinder Limited
15238323
Berwick Bank Holdings A Limited
07294660
Berwick Bank Holdings B Limited
13881643
Berwick Bank Holdings C Limited
07294689
Berwick Bank Wind Farm Limited
SC721781
Bhlaraidh Extension Wind Farm Limited
SC798136
Bhlaraidh Wind Farm Limited
SC663027
Building Automation Solutions Limited
05827765
By-Pass Farm Solar Limited
12558977
Ferrybridge Hydrogen Limited
15238441
Fibre Fuel Limited
02902165
Fibre Power (Slough) Limited
02902170
Griffin Wind Farm Limited
SC245113
Hydro Electric Pension Scheme Trustees Limited
SC567945
Keadby Developments Limited
02691516
Keadby Next Generation Limited
15866301
Keadby Wind Farm Limited
06852112
LG-B-300 Limited
SC765613
Power From Waste Limited
02902302
Slough Domestic Electricity Limited
03486588
Slough Energy Supplies Limited
02474514
Slough Heat & Power Limited
00174142
Slough Utility Services Limited
03486590
SSE Airtricity Energy Services (NI) Limited
NI056373
SSE Beatrice Offshore Windfarm Holdings Limited
SC436255
SSE BTM HoldCo Limited
14413957
SSE BTM Operational Assets Limited
14885059
SSE Contracting Group Limited
02471438
SSE Cottered Solar Limited
15346645
SSE Daines BESS Limited
15344013
SSE DE Solar HoldCo Limited
14189570
SSE Derrymeen BESS Limited
NI697259
SSE Digital Services Limited
14621186
SSE Eggborough Limited
14939853
SSE Enterprise Limited
10060563
SSE Ewerby Solar Holdco Limited
14939987
SSE Ewerby Solar Limited
14959032
SSE Fancott Bess Limited
15344001
SSE Ferrybridge Battery Limited
14411214
SSE Fiddlers Ferry Battery Limited
14418916
SSE Foxholes Solar Limited
14044466
SSE Group Limited
SC126049
SSE Heat Networks (Battersea) Limited
10176638
Registered
Company number
SSE HV Electricity Assets Limited
14418288
SSE Hydrogen Developments Limited
15238086
SSE Hydrogen Holdings Limited
15231331
SSE IAMP Microgrid Limited
15333093
SSE Imperial Park PN Limited
02631510
SSE Knapthorpe Solar Limited
14044446
SSE Low Carbon Developments Limited
15069108
SSE Low Carbon Holdings Limited
15052653
SSE Maple Limited
10604848
SSE Medway Operations Limited
02647585
SSE Micro Renewables Limited
SC386017
SSE Multifuel Generation Holdings Limited
12661566
SSE Muskham Solar Limited
14044402
SSE Newchurch Solar Limited
15348120
SSE OWS Glasgow Limited
SC228283
SSE Private Networks Holdco Limited
14921243
SSE Production Services Limited
02499702
SSE Renewables Holdings (UK) Limited
NI043239
SSE Renewables Offshore Windfarm Holdings Limited
SC436251
SSE Renewables Onshore Windfarm Holdings Limited
NI049557
SSE Renewables Poland Holdings Limited
SC723844
SSE Renewables Solar & Battery Holdings Limited
13561962
SSE Renewables UK Limited
NI048447
SSE Renewables Wind Farms (UK) Limited
SC654502
SSE Retail Limited
SC213458
SSE Seabank Investments Limited
02631512
SSE Seabank Land Investments Limited
07877772
SSE Southern Group Trustee Limited
04009847
SSE Southery Solar Limited
14953142
SSE Staythorpe Battery Limited
14046860
SSE Staythorpe Power Limited
14043534
SSE Staythorpe SGT Limited
14046946
SSE Staythorpe Solar Limited
14046913
SSE Thermal Energy Holdings Limited
12650549
SSE Thermal Generation Holdings Limited
12662248
SSE Toddleburn Limited
SC259104
SSE Trustees Limited
03048985
SSE Viking Limited
06021053
SSE(SE) Quest Trustee Limited
03487059
SSEPG (Operations) Limited
02764438
Strathy Wind Farm Limited
SC663103
Tealing Solar Park Limited
08783684
The Energy Solutions Group Bidco Limited
07187066
The Energy Solutions Group Midco Limited
07403400
The Energy Solutions Group Topco Limited
07419528
A3.1.2 Joint arrangements (incorporated)
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
AtlasConnect Limited
A
50.0
H2Northeast Limited
H
50.0
Baglan Pipeline Limited
K
50.0
Indian Queens Power Limited
AF
50.0
Beatrice Offshore Windfarm Holdco Limited
A
40.0
Marchwood Power Limited
N
50.0
Beatrice Offshore Windfarm Limited
A
40.0
Neos Networks Limited
A
50.0
Clyde Windfarm (Scotland) Limited **
A
50.1
NNXYZ Limited
B
50.0
DB Operational Base Limited
J
40.0
North Falls Offshore Wind Farm Holdco Limited
AG
50.0
Deeside Power (UK) Limited
AF
50.0
North Falls Offshore Wind Farm Limited
AG
50.0
Deeside Power Operations Limited
AF
50.0
Ossian Offshore Wind Farm Holdings Limited
A
40.0
Digital Reach Partners Limited (formerly D Reach
B
50.0
Ossian Offshore Wind Farm Limited
A
40.0
Partners Limited)
Doggerbank Offshore Wind Farm Project 1
B
40.0
Pride (SERP) Limited
AI
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 1
B
40.0
Reach Fibre Company Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Holdings Group Limited
B
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 2
B
40.0
Reach Infrastructure Group Limited
B
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Cogeneration Company Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3
B
40.0
Saltend Operations Company Limited
AF
50.0
Projco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
SCCL Holdings Limited
AF
50.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 3 And 4
B
50.0
Seabank Power Limited
O
50.0
Leaseco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A (Holdco) Limited
B
49.0
Holdco Limited
Doggerbank Offshore Wind Farm Project 4
B
50.0
Seagreen 1A Limited
B
49.0
Projco Limited
DRPXYZ Limited (formerly Digital Reach Partners
A
50.0
Seagreen Alpha Wind Energy Limited
B
49.0
Limited)
Dunmaglass Wind Farm Limited
A
50.1
Seagreen Bravo Wind Energy Limited
B
49.0
Eastern Green Link 2 Limited ***
B
50.0
Seagreen Holdco 1 Limited
B
49.0
Eastern Green Link 3 Limited ***
B
50.0
Seagreen Wind Energy Limited
B
49.0
Fearna PSH Limited
B
50.0
Source EV Limited
B
50.0
Greater Gabbard Offshore Winds Limited ***
B
50.0
Source EV UK Limited
B
50.0
Green H2 Developments Hold Co Limited
B
50.0
SSE Slough Multifuel Holdco Limited
B
50.0
Green H2 Developments Project Co Limited
B
50.0
SSE Slough Multifuel Limited
B
50.0
H2NE Parentco Limited
H
50.0
Stronelairg Wind Farm Limited
A
50.1
Ireland
Allbrite Heatpump Specialists Limited
R
25.0
Green Energy Company Limited **
M
50.0
Bellair Wind Farm Designated Activity Company
I
50.0
Green Way Energy Limited
M
50.0
Cloosh Valley Wind Farm Designated Activity
L
25.0
Kerry Power Limited
M
49.0
Company
Cloosh Valley Wind Farm Holdings Designated
L
25.0
Kilberry Wind Farm Designated Activity Company I
50.0
Activity Company
Coolnagun Wind Farm Designated Activity
I
50.0
Lemanaghan Wind Farm Designated Activity
I
50.0
Company Company
Cornafulla Wind Farm Designated Activity
I
50.0
Littleton Wind Farm Designated Activity
I
50.0
Company Company
Derryfadda Wind Farm Designated Activity
I
50.0
Marron Activ8 Energies Limited
R
50.0
Company
Drumnahough Wind Farm Designated Activity
C
50.0
Midas Energy Limited
M
49.0
Company
Everwind Limited
S
49.0
Source EV Ireland Limited
C
50.0
Garryhinch Wind Farm Designated Activity
I
50.0
Company
Jersey
Triton Power Holdings Limited
AH
50.0
Triton Power Limited
AH
50.0
Triton Power Intermediate Holdings Limited
AH
50.0
Netherlands
Lely Alpha Offshore Wind General Partner B.V.
AA
50.0
Lely Alpha Offshore Wind Projco C.V.
AA
50.0
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
Spain
ICE Santa Engracia, S.L.
V
44.6
** Holding represents % of voting rights
*** Joint Operation
A3.1.3 Associates
Registered 2026 Registered 2026
address Holding address Holding
Company (Key) % Company (Key) %
United Kingdom
Corran Environmental LP
AK
74.0
St Clements Services Limited
P
25.0
A3.1.4 Registered address key
Reference
Company registered address
A
Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ
B
No 1 Forbury Place, 43 Forbury Road, Reading RG1 3JH
C Red Oak South, South County Business Park, Leopardstown, Dublin 18
D Ocean Court, Caspian Road, Atlantic Street, Altrincham, WA14 5HH
E
Keadby Power Station, Trentside, Keadby, Scunthorpe, North Lincs DN17 3AZ
F
3rd Floor, Millennium House, 25 Great Victoria Street, Belfast, BT2 7AQ
G
Tower House, Loch Promenade, Douglas, Isle of Man
H
Suite 1, 7th Floor, 50 Broadway, London, United Kingdom, SW1H 0BL
I Main St, Newbridge, Kildare, Ireland
J
One Kingdom Street, London, United Kingdom, W2 6BD
K
10 Fleet Place, London, EC4M 7QS
L 6th Floor, South Bank House, Barrow Street, Dublin 4
M Lissarda Industrial Park, Lissarda, Macroom, County Cork
N
Oceanic Way, Marchwood Industrial Park, Marchwood, Southampton SO40 4BD
O
Severn Road, Hallen, Bristol, BS10 7SP
P
4 \u2013 6 Church Walk, Daventry, NN11 4BL
Q
Unit 14 Maryland Industrial Estate, Ballygowan Road, Belfast
R
Nexus N2 Business Park, Carrickmacross, Monaghan, A81 XK73, Ireland
S
Gorthleahy, Macroom, Co Cork, Ireland
T
Second Floor Eagle Court 2, Hatchford Way, Birmingham B26 3RZ
U
c/o Bird & Bird LLP, Maximiliansplatz 22, Munich 80333
V Calle de la Portalada, 50, 26.006, Logro\u00f1o (La Rioja), Spain
W
Avda Gomez Laguna, 25, 50009 \u2013 Zaragoza, Spain
X Towarowa no.28, suite 00-839, Warsaw, Poland
Y
Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo, Japan
Z
Unit 42 Block 528, Grants View, Greenogue Business Park, Rathcoole, Dublin, Ireland
AA
Hofplein 20, Rotterdam, 3032 AC, Netherlands
AB
16 Kifissias Ave, 11526, Athens, Greece
AC
Viale Luca Gaurico, 91/93, 00143, Rome, Italy
AD
Alameda Mazarredo 7, entreplanta, 48001, Bilbao, Spain
AE
97 all\u00e9e Alexandre Borodine, Immeuble C\u00e8dre 3,
69800,
Saint Priest, France
AF
Saltend Power Station Saltend Chemicals Park, Hedon Road, Hull, East Riding of Yorkshire, England, HU12 8GA
AG
Windmill Hill Business Park, Whitehill Way, Swindon, Wiltshire, United Kingdom, SN5 6PB
AH
22 Grenville Street, St Helier, Jersey, JE4 SPX
AI
Level 12, The Shard, 32 London Bridge Street, London, SE1 9SG
AJ
Plac Marsza\u0142ka J\u00f3zefa Pi\u0142sudskiego 2 00-073 Warsaw
AK
4th Floor, 7 Castle Street, Edinburgh, EH2 3AH
A4. Joint ventures and associates
The Directors have assessed that the investments in the following equity accounted joint ventures and associates are of a sufficiently material
impact to warrant additional disclosure on an individual basis. Details of the financial position and financial results of the Group:
Class of Proportion of
Company shares held
shares held %
Group Interest %
Year end date
Consolidation basis
United Kingdom
Seabank Power Limited
Ordinary
50.0
50.0
31 December
Equity
Marchwood Power Limited
Ordinary
50.0
50.0
31 December
Equity
SSE Slough Multifuel Holdco Limited
Ordinary
50.0
50.0
31 March
Equity
Clyde Windfarm (Scotland) Limited
Ordinary
50.1
50.1
31 March
Equity
Seagreen Holdco 1 Limited
Ordinary
49.0
49.0
31 March
Equity
Beatrice Offshore Windfarm Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Dunmaglass Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Stronelairg Wind Farm Limited
Ordinary
50.1
50.1
31 March
Equity
Doggerbank Offshore Wind Farm Project 1 Holdco Limited
Ordinary
40.0
40.0
31 March
Equity
Jersey
Triton Power Holdings Limited
Ordinary
50.0
50.0
31 December
Equity
Summary information for material joint ventures and associates from unaudited financial statements is as follows:
Doggerbank
Beatrice Offshore
SSE Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i)
Total
2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026 2026
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
279.8
69.1
64.9
206.9
322.5
149.4
43.5
105.3
370.5
109.9
230.0
1,951.8
Other income
\u2013
\u2013
\u2013
\u2013
3 . 9
2 6 6 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 7 0 . 8
Depreciation and
amortisation
(11.7)
(7.8)
(14.9)
(29.3)
(98.4)
(88.5)
(8.0)
(13.7)
(33.6)
(9.6)
(140.9)
(456.4)
Other operating costs
(232.5)
(21.3)
(23.4)
(44.4)
(101.0)
(133.1)
(9.6)
(19.1)
(365.3)
(11.4)
(130.1)
(1,091.2)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(48.6)
\u2013
\u2013
\u2013
4.2
\u2013
0.5
(43.9)
Operating profit
35.6
40.0
26.6
133.2
78.4
194.7
25.9
72.5
(24.2)
88.9
(40.5)
631.1
Interest expense
0.3
(0.7)
(23.6)
(21.1)
(153.9)
(56.9)
(6.5)
(12.9)
2.2
(58.5)
(33.9)
(365.5)
Profit before tax
35.9
39.3
3.0
112.1
(75.5)
137.8
19.4
59.6
(22.0)
30.4
(74.4)
265.6
Corporation tax
(8.3)
(9.7)
\u2013
(29.3)
4.1
(34.7)
(4.4)
(14.8)
0.5
(3.5)
0.5
(99.6)
Profit after tax
27.6
29.6
3.0
82.8
(71.4)
103.1
15.0
44.8
(21.5)
26.9
(73.9)
166.0
Recognised in other
comprehensive
income
Cash flow hedges
\u2013
\u2013
\u2013
\u2013
(13.2)
(26.2)
\u2013
\u2013
\u2013
(24.7)
(47.4)
(111.5)
Taxation
\u2013
\u2013
\u2013
\u2013
3.3
6.6
\u2013
\u2013
\u2013
6.2
11.8
27.9
Other
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
( 1 5 . 8 )
( 1 5 . 8 )
Total comprehensive
\u2013
\u2013
\u2013
\u2013
(9.9)
(19.6)
\u2013
\u2013
\u2013
(18.5)
(51.4)
(99.4)
income/(loss)
27.6
29.6
3.0
82.8
(81.3)
83.5
15.0
44.8
(21.5)
8.4
(125.3)
66.6
SSE share of profit
(based on % equity)
13.8
14.8
1.5
41.5
(35.0)
41.2
7.5
22.4
(10.8)
10.8
(19.7)
88.0
Dividends paid to
shareholders
21.0
37.0
\u2013
116.1
26.6
53.7
25.5
68.5
25.0
\u2013
8.4
381.8
Non-current assets
114.5
107.4
455.3
472.4
2,946.6
1,531.7
156.9
289.4
202.2
3,153.4
6,607.6
16,037.4
Current assets
94.9
13.7
15.0
100.3
87.8
595.3
21.9
48.6
130.1
883.9
62.2
2,053.7
Cash and cash
equivalents
48.8
19.6
17.6
30.6
125.3
96.1
10.9
19.8
15.4
73.1
1 3 8 . 2
5 9 5 . 4
Current liabilities
(87.7)
(20.9)
(7.4)
(46.5)
(247.2)
(568.0)
(9.1)
(27.1)
(109.7)
(51.7)
(393.2)
(1,568.5)
Non-current liabilities
(42.8)
(32.8)
(351.1)
(427.4)
(2,230.9)
(1,527.5)
(143.4)
(260.7)
(12.5)
(3,415.0)
(5,528.6)
(13,972.7)
Net assets
127.7
87.0
129.4
129.4
681.6
127.6
37.2
70.0
225.5
643.7
886.2
3,145.3
Group equity interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership interest
63.9
43.5
64.7
64.8
334.0
51.0
18.6
35.1
112.8
257.5
411.2
1,457.1
Other adjustments
(21.0)
0.3
31.1
39.3
84.5
(1.1)
62.2
191.9
28.2
1.7
70.9
488.0
Carrying value of
Group\u2019s equity
interest
42.9
43.8
95.8
104.1
418.5
49.9
80.8
227.0
141.0
259.2
482.1
1,945.1
(restated
(ii)
)
Doggerbank
SSE Beatrice Offshore
Slough Clyde Offshore Triton Wind Farm
Seabank Marchwood Multifuel Windfarm Seagreen Windfarm Dunmaglass Stronelairg Power Project 1
Power Power Holdco (Scotland) Holdco 1 Holdco Wind Farm Wind Farm Holdings Holdco
Limited Limited Limited Limited Limited Limited Limited Limited Limited Limited
Other
(i) (ii)
Total
2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025 2025
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
288.1
96.3
60.0
194.6
354.0
171.1
37.7
106.6
402.6
14.8
212.1
1,937.9
Other income
\u2013
\u2013
\u2013
\u2013
23.2
245.7
\u2013
\u2013
\u2013
\u2013
0.1
269.0
Depreciation and
amortisation
(7.0)
(35.0)
(8.4)
(29.2)
(98.6)
(88.0)
(8.0)
(13.7)
(34.5)
(2.2)
(134.7)
(459.3)
Other operating
costs
(241.9)
(19.5)
(21.0)
(41.4)
(89.6)
(94.8)
(8.1)
(20.4)
(420.3)
(6.8)
(134.1)
(1,097.9)
Movement on
derivatives
\u2013
\u2013
\u2013
\u2013
(53.8)
\u2013
\u2013
\u2013
(3.4)
\u2013
\u2013
(57.2)
Operating profit
39.2
41.8
30.6
124.0
135.2
234.0
21.6
72.5
(55.6)
5.8
(56.6)
592.5
Interest expense
1.4
(1.6)
(15.2)
(18.5)
(209.3)
(59.3)
(6.2)
(11.9)
5.1
(1.5)
(31.0)
(348.0)
Profit before tax
40.6
40.2
15.4
105.5
(74.1)
174.7
15.4
60.6
(50.5)
4.3
(87.6)
244.5
Corporation tax
(11.1)
(9.2)
3.8
(26.9)
63.5
(22.7)
(3.4)
(14.8)
14.9
(1.1)
(0.7)
(7.7)
Profit after tax
29.5
31.0
19.2
78.6
(10.6)
152.0
12.0
45.8
(35.6)
3.2
(88.3)
236.8
Recognised in
other
comprehensive
income
Cash flow hedges
\u2013
\u2013
0.6
\u2013
(3.3)
(12.8)
\u2013
\u2013
\u2013
(49.8)
9.7
(55.6)
Taxation
\u2013
\u2013
\u2013
\u2013
0.8
3.3
\u2013
\u2013
\u2013
12.5
(2.6)
14.0
O t h e r
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
1 5 . 8
1 5 . 8
\u2013
\u2013
0.6
\u2013
(2.5)
(9.5)
\u2013
\u2013
\u2013
(37.3)
22.9
(25.8)
Total
comprehensive
income/(loss)
29.5
31.0
19.8
78.6
(13.1)
142.5
12.0
45.8
(35.6)
(34.1)
(65.4)
211.0
SSE share of profit
(based on %
equity)
14.8
15.5
9.6
39.4
(5.2)
60.8
6.0
22.9
(17.8)
1.3
(57.4)
89.9
Dividends paid to
shareholders
47.0
44.2
\u2013
102.0
38.9
119.3
12.4
55.0
\u2013
\u2013
11.1
429.9
Non-current assets
82.8
114.1
471.4
510.1
3,027.6
1,750.4
165.2
304.7
184.1
3,670.4
6,460.3
16,741.1
Current assets
56.7
8.5
14.9
86.8
47.2
62.7
16.7
49.8
164.1
21.6
94.7
623.7
Cash and cash
equivalents
51.8
20.7
21.9
45.1
95.3
104.0
18.4
27.7
5.1
60.6
278.8
729.4
Current liabilities
(44.9)
(18.2)
(11.1)
(42.8)
(13.0)
(199.7)
(7.3)
(25.5)
(68.7)
(86.7)
(348.7)
(866.6)
Non-current
liabilities
(26.3)
(29.5)
(370.6)
(431.7)
(2,424.9)
(1,619.6)
(144.8)
(262.5)
(12.3)
(3,042.7)
(5,649.7)
(14,014.6)
Net assets
120.1
95.6
126.5
167.5
732.2
97.8
48.2
94.2
272.3
623.2
835.4
3,213.0
Group equity
interest
50.0%
50.0%
50.0%
50.1%
49.0%
40.0%
50.1%
50.1%
50.0%
40.0%
\u2013
\u2013
Net assets
Group\u2019s share of
ownership
interest
60.1
47.8
63.3
83.9
358.8
39.1
24.1
47.2
136.2
249.3
384.5
1,494.3
Other adjustments
(20.4)
(0.3)
31.7
39.9
100.3
(1.1)
65.5
202.9
1.6
2.4
70.5
493.0
Carrying value of
Group\u2019s equity
interest
39.7
47.5
95.0
123.8
459.1
38.0
89.6
250.1
137.8
251.7
455.0
1,987.3
(i) In addition to the above the following joint ventures and associates have an equity carrying value that constitutes a material investment of the Group: Doggerbank Offshore Wind Farm Project 2 Holdco Limited \u00a3128.4m (2025: \u00a3118.8m): Doggerbank Offshore Wind Farm Project 3 and 4 Holdco Limited \u00a395.0m (2025: \u00a390.6m) and Ossian Offshore Wind Farm Holdings Limited \u00a363.6m (2025: \u00a360.8m). (ii) The comparatives have been restated to present Neos Networks Limited in Other, based on the significance of the investment to the Group.
In addition to the above at 31 March 2026, the Group was owed the following loans from its principal joint ventures: SSE Slough Multifuel
Holdco Limited \u00a3172.5m (2025: \u00a3181.3m); Clyde Windfarm (Scotland) Limited \u00a3127.1m (2025: 127.1m); Seagreen Holdco 1 Limited \u00a3648.0m
(2025: \u00a3646.0m); Dunmaglass Wind Farm Limited \u00a346.6m (2025: \u00a346.6m); Stronelairg Wind Farm Limited \u00a388.7m (2025: \u00a388.7m); and
Doggerbank Offshore Wind Farm Project 1 Holdco Limited \u00a3313.4m (2025: 188.3m). This represents 86% (2025: 85%) of the loans provided to
equity-accounted joint ventures and associates.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-718": { "value": "A3.1.1 Subsidiary undertakings Details of the Group\u2019s subsidiary undertakings at 31 March are as follows:
Registered 2026
address Holding
Company (Key) %
United Kingdom
Aberarder Wind Farm (Scotland) Limited
A
100.0
Aberarder Wind Farm LLP
B
100.0
Abernedd Power Company Limited
B
100.0
Aegletes III Holdco Limited
B
100.0
Aldbrough Pathfinder Limited
B
100.0
Berwick Bank A Limited
B
100.0
Berwick Bank B Limited
B
100.0
Berwick Bank C Limited
B
100.0
Berwick Bank Holdings A Limited
B
100.0
Berwick Bank Holdings B Limited
B
100.0
Berwick Bank Holdings C Limited
B
100.0
Berwick Bank Wind Farm Limited
A
100.0
Bhlaraidh Extension Wind Farm Limited
A
100.0
Bhlaraidh Wind Farm Limited
A
100.0
Building Automation Solutions Limited
D
100.0
By-Pass Farm Solar Limited
B
100.0
Coire Glas Hydro Pumped Storage Limited
A
100.0
Enerveo Limited
T
100.0
Ferrybridge Hydrogen Limited
B
100.0
Fibre Fuel Limited
B
100.0
Fibre Power (Slough) Limited
B
100.0
Griffin Wind Farm Limited
A
100.0
Hydro Electric Pension Scheme Trustees
A
100.0
Limited
Keadby Developments Limited
E
100.0
Keadby Generation Limited
E
100.0
Keadby Next Generation Limited
B
100.0
Keadby Wind Farm Limited
B
100.0
LG-B-300 Limited
A
100.0
Littleton Pastures Solar Limited
B
100.0
Medway Power Limited
B
100.0
Optimal Power Networks Limited
B
100.0
Power from Waste Limited
B
100.0
Scottish and Southern Energy Power
A
100.0
Distribution Limited
Scottish Hydro Electric Power Distribution plc
A
100.0
Scottish Hydro Electric Transmission plc
A
75.0
Slough Domestic Electricity Limited
B
100.0
Slough Electricity Contracts Limited
B
100.0
Slough Energy Supplies Limited
B
100.0
Slough Heat & Power Limited
B
100.0
Slough Utility Services Limited
B
100.0
Southern Electric Power Distribution plc
B
100.0
SSE Airtricity Energy Services (NI) Limited
Q
100.0
SSE Airtricity Energy Supply (NI) Limited
F
100.0
SSE Airtricity Gas Supply (NI) Limited
F
100.0
SSE Battery Monk Fryston Limited
B
100.0
SSE Battery Salisbury Limited
B
100.0
SSE Beatrice Offshore Windfarm Holdings
A
100.0
Limited
SSE BTM HoldCo Limited
B
100.0
SSE BTM Operational Assets Limited
B
100.0
SSE Contracting Group Limited
B
100.0
SSE Cottered Solar Limited
B
100.0
SSE Daines BESS Limited
B
100.0
SSE DE Solar Holdco Limited
B
100.0
SSE Derrymeen BESS Limited
F
100.0
SSE Digital Services Limited
B
100.0
Registered 2026
address Holding
Company (Key) %
SSE Eggborough Limited
B
100.0
SSE Energy Markets Limited
B
100.0
SSE Energy Supply Limited
B
100.0
SSE Enterprise Limited
B
100.0
SSE Ewerby Solar Holdco Limited
B
100.0
SSE Ewerby Solar Limited
B
100.0
SSE Fancott BESS Limited
B
100.0
SSE Ferrybridge Battery Limited
B
100.0
SSE Fiddlers Ferry Battery Limited
B
100.0
SSE Foxholes Solar Limited
B
100.0
SSE Generation Limited
B
100.0
SSE Group Limited
A
100.0
SSE Heat Networks (Battersea) Limited
B
100.0
SSE Heat Networks Limited
A
100.0
SSE Hornsea Limited
B
100.0
SSE HV Electricity Assets Limited
B
100.0
SSE Hydrogen Holdings Limited
B
100.0
SSE Hydrogen Developments Limited
B
100.0
SSE IAMP Microgrid Limited
B
100.0
SSE Imperial Park PN Limited
B
100.0
SSE Knapthorpe Solar Limited
B
100.0
SSE Low Carbon Developments Limited
B
100.0
SSE Low Carbon Holdings Limited
B
100.0
SSE Maple Limited
B
100.0
SSE Medway Operations Limited
B
100.0
SSE Micro Renewables Limited
A
100.0
SSE Multifuel Generation Holdings Limited
B
100.0
SSE Muskham Solar Limited
B
100.0
SSE Newchurch Solar Limited
B
100.0
SSE OWS Glasgow Limited
A
100.0
SSE Private Networks Holdco Limited
B
100.0
SSE Production Services Limited
B
100.0
SSE Renewables Holdings (UK) Limited
F
100.0
SSE Renewables International Holdings Limited
A
100.0
SSE Renewables Limited
A
100.0
SSE Renewables Offshore Windfarm Holdings
A
100.0
Limited
SSE Renewables Onshore Windfarm Holdings
F
100.0
Limited
SSE Renewables Poland Holdings Limited
A
100.0
SSE Renewables Services (UK) Limited
F
100.0
SSE Renewables Solar & Battery Holdings
B
100.0
Limited
SSE Renewables UK Limited
F
100.0
SSE Renewables Wind Farms (UK) Limited
A
100.0
SSE Retail Limited
A
100.0
SSE Seabank Investments Limited
B
100.0
SSE Seabank Land Investments Limited
B
100.0
SSE Services plc
B
100.0
SSE Southern Group Trustee Limited
B
100.0
SSE Staythorpe Battery Limited
B
100.0
SSE Staythorpe Power Limited
B
100.0
SSE Staythorpe SGT Limited
B
100.0
SSE Staythorpe Solar Limited
B
100.0
SSE Southery Solar Limited
B
100.0
SSE Stock Limited
A
100.0
SSE Thermal Energy Holdings Limited
B
100.0
SSE Thermal Energy Operations Limited
B
100.0
SSE Thermal Generation (Scotland) Limited
A
100.0
Registered 2026
address Holding
Company (Key) %
U
nite
d
Kingdo
m
continued
SSE Thermal Generation Holdings Limited
B
100.0
SSE Toddleburn Limited
A
100.0
SSE Trading Limited
B
100.0
SSE Trustees Limited
B
100.0
SSE Utility Services Limited
B
100.0
SSE Utility Solutions Limited
B
100.0
SSE Venture Capital Limited
A
100.0
SSE Viking Limited
B
100.0
SSE(SE) Quest Trustee Limited
B
100.0
SSEN Distribution Limited
A
100.0
SSEPG (Operations) Limited
B
100.0
Strathy Wind Farm Limited
A
100.0
Tealing Solar Park Limited
B
100.0
TESGL Limited
D
100.0
The Energy Solutions Group Bidco Limited
D
100.0
The Energy Solutions Group Midco Limited
D
100.0
The Energy Solutions Group Topco Limited
D
100.0
Viking Energy (Scottish Partnership)
A
100.0
Viking Energy Wind Farm LLP
A
100.0
Ireland
Airtricity Windfarm Finance Limited
C
100.0
Arklow Offshore Phase II Company Limited
C
100.0
Bindoo Windfarm (ROI) Limited
C
100.0
Brickmount Limited
C
100.0
Comhlacht Gaoithe Teoranta
C
100.0
Coomacheo Wind Farm Limited
C
100.0
Coomatallin Windfarm (ROI) Limited
C
100.0*
Curragh Mountain Windfarm Limited
C
100.0
Dedondo Limited
C
100.0
Dromada Windfarm (ROI) Limited
C
100.0
Enerveo Ireland Limited
Z
100.0
Galway Wind Park Phase 3 Designated Activity
C
100.0
Company
Ganderoy Limited
C
100.0
Gartnaneane Limited
C
100.0*
Glenora Wind Farm Designated Activity Company
C
100.0
Green Wind Energy (Wexford) Limited
C
100.0
Leanamore Wind Farm Limited
C
100.0
Lenalea Wind Farm Designated Activity Company
C
100.0
Limerick West Windfarm Limited
C
100.0
March Winds Limited
C
100.0
Meentycat Limited
C
100.0
Milane Holdings Limited
C
100.0
Mullananalt Wind Farm (ROI) Limited
C
100.0
Platin Power Limited
C
100.0
Richfield Windfarm (ROI) Limited
C
100.0
Sheskin South Renewables Power Designated
C
100.0
Activity Company
SSE Airtricity Distributed Energy Limited
C
100.0
SSE Airtricity Energy Services Limited
C
100.0
SSE Airtricity Limited
C
100.0
SSE Cumars\u00e1id Teoranta
C
100.0
SSE Generation Ireland Limited
C
100.0
SSE Renewables (Ireland) Limited
C
100.0
SSE Renewables Generation Ireland Limited
C
100.0
SSE Renewables Holdings (Europe) Limited
C
100.0
SSE Renewables Holdings Limited
C
100.0
SSE Renewables Off Shore Limited
C
100.0
SSE Renewables Wind (Ireland) Holdings Limited
C
100.0
Registered 2026
address Holding
Company (Key) %
SSE Renewables Wind Farms (Ireland) Limited
C
100.0
Sure Partners Limited
C
100.0
SSE Renewables Tinnycross Battery Storage
C
100.0
Limited
Tournafulla Windfarm (ROI) Limited
C
100.0
Zeusford Limited
C
100.0
France
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) d\u2019orchamps
Soci\u00e9t\u00e9 d\u2019Exploitation de l\u2019Installation de
AE
100.0
Stockage (SEIS) de la Cuesta
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) de Vireaux
Soci\u00e9t\u00e9 d\u2019Exploitation de la Centrale
AE
100.0
Photovolta\u00efque (SECPV) des Jacquessons
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Chaintrix Bierges SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Champeaux SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Germainville SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Belle
AE
100.0
Dame SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la Brie
AE
100.0
des Etangs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la
AE
100.0
Monchot SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de la T\u00eate
AE
100.0
des Boucs SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
la Voie Pou\u00e7oise
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Moulins du Puits SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Pringy
AE
100.0
SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Saint
AE
100.0
Loup de Saintonge SAS
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien (SEPE) de
AE
100.0
Salon Sud
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Souvans SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de
AE
100.0
Vernierfontaine SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien de Villiers
AE
100.0
aux Ch\u00eanes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des
AE
100.0
Fontaines SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Six
AE
100.0
Communes SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien des Voies
AE
100.0
de Bar SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Mont
AE
100.0
\u00c9gar\u00e9 SARL
Soci\u00e9t\u00e9 d\u2019Exploitation du Parc Eolien du Vireaux
AE
100.0
SAS
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) d\u2019Orchamps SAS
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) de la Cuesta SARL
AE
100.0
Soci\u00e9t\u00e9 du Poste Priv\u00e9 (SPP) du Tonnerrois
AE
100.0
SSE Renewables France SARL
AE
100.0
Germany
SSE Renewables Developments (Germany)
U
100.0
GmbH
Greece
Enerfarm 3 Single Member S.A. Renewable
AB
100.0
Energy Sources
Energiaki Kleidi Single Member S.A.
AB
100.0
Energiaki Mavrovouniou Single Member Private
AB
100.0
Company
Energiaki Mesovouniou Single Member S.A.
AB
100.0
Energiaki Platorrachis Single Member S.A.
AB
100.0
Energiaki Velanidias Single Member S.A.
AB
100.0
SSE Renewables Hellas Single Member S.A.
AB
100.0
Isle of Man
SSE Insurance Limited
G
100.0
Italy
SPV Parco Eolico Libeccio S.r.l.
AC
100.0
SPV Parco Eolico Maestrale S.r.l.
AC
100.0
SPV Parco Eolico Tramontana S.r.l.
AC
100.0
SSE Renewables Italy S.r.l.
AC
100.0
Japan
Aichi Offshore Wind Power No. 1 G.K.
Y
80.0
Aichi Offshore Wind Power No. 2 G.K.
Y
80.0
Enshunada Offshore Wind Power No. 1 G.K.
Y
80.0
GIF Phase 2 G.K. (formerly Niigata Offshore
Y
80.0
Wind Power No.1 G.K.)
Goto-Fukue Offshore Wind Power G.K.
Y
80.0
Izu Islands Offshore Wind Power No. 1 G.K.
Y
80.0
Minami-Izu Offshore Wind Power No. 1 G.K.
Y
80.0
Oki Islands Offshore Wind Power G.K.
Y
80.0
SSE Pacifico K.K.
Y
80.0
SSE Yuza Offshore Wind Power G.K.
Y
80.0
Tokushima Offshore Wind Power G.K.
Y
80.0
Wakayama-West Offshore Wind Power No. 1
Y
80.0
G.K.
Wakayama-West Offshore Wind Power No. 2
Y
80.0
G.K.
Netherlands
SSE Renewables (Netherlands) Holdings B.V.
AA
100.0
SSE Renewables Developments (The
Netherlands) B.V.
AA
100.0
SSE Sunflower Offshore Wind Holdco B.V.
AA
100.0
SSE Sunflower Offshore Wind Limited Partner 1
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 2
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner 3
AA
100.0
B.V.
SSE Sunflower Offshore Wind Limited Partner
AA
100.0
4B.V.
SSE Tulip Offshore Wind Holdco B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 1 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 2 B.V.
AA
100.0
SSE Tulip Offshore Wind Limited Partner 3 B.V.
AA
100.0
Poland
IBC SE PL3 sp. z o.o.
AJ
100.0
IBC SE PL20 sp. z o.o.
AJ
100.0
IBC SE PL22 sp. z o.o.
AJ
100.0
IBC SE PL23 sp. z o.o.
AJ
100.0
IBC SE PL24 sp. z o.o.
AJ
100.0
IBC SE PL34 sp. z o.o.
AJ
100.0
Pomerania PV sp z.o.o.
AJ
100.0
SSE Renewables Poland sp z.o.o. w likwidacji
(formerly SSE Renewables Poland sp z.o.o.)
X
100.0
Spain
ICE Torrecilla Renovables S.L.
W
80.3
Sistemas Energ\u00e9ticos \u00c1brego S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ariel S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Boreas S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos C\u00e9firo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos del Sur S.A.U.
AD
100.0
Sistemas Energ\u00e9ticos Eolo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 1 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Erbania 2 S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Gregal S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos J\u00fapiter S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Marte S.L. U.
AD
100.0
Sistemas Energ\u00e9ticos Mercurio S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Neptuno S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Ober\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Plut\u00f3n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tablero Tabordo S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Terral S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Tit\u00e1n S.L.U.
AD
100.0
Sistemas Energ\u00e9ticos Urano S.L.U.
AD
100.0
SSE Renewables Southern Europe S.L.
AD
100.0
SSE Renewables Spain S.L.
AD
100.0
All shares in subsidiary companies are ordinary share capital, unless otherwise stated. * 100% of voting rights held. Statutory audit exemptions SSE plc parent company has provided guarantees under section 479C of the Companies Act 2006 over the liabilities of the following companies, which are therefore exempt from audit under the requirements of s479A-479C of the Companies Act 2006.
Registered
Company number
Aberarder Wind Farm (Scotland) Limited
SC746968
Aberarder Wind Farm LLP
OC398487
Abernedd Power Company Limited
06383166
Aegletes III Holdco Limited
13665453
Aldbrough Pathfinder Limited
15238323
Berwick Bank Holdings A Limited
07294660
Berwick Bank Holdings B Limited
13881643
Berwick Bank Holdings C Limited
07294689
Berwick Bank Wind Farm Limited
SC721781
Bhlaraidh Extension Wind Farm Limited
SC798136
Bhlaraidh Wind Farm Limited
SC663027
Building Automation Solutions Limited
05827765
By-Pass Farm Solar Limited
12558977
Ferrybridge Hydrogen Limited
15238441
Fibre Fuel Limited
02902165
Fibre Power (Slough) Limited
02902170
Griffin Wind Farm Limited
SC245113
Hydro Electric Pension Scheme Trustees Limited
SC567945
Keadby Developments Limited
02691516
Keadby Next Generation Limited
15866301
Keadby Wind Farm Limited
06852112
LG-B-300 Limited
SC765613
Power From Waste Limited
02902302
Slough Domestic Electricity Limited
03486588
Slough Energy Supplies Limited
02474514
Slough Heat & Power Limited
00174142
Slough Utility Services Limited
03486590
SSE Airtricity Energy Services (NI) Limited
NI056373
SSE Beatrice Offshore Windfarm Holdings Limited
SC436255
SSE BTM HoldCo Limited
14413957
SSE BTM Operational Assets Limited
14885059
SSE Contracting Group Limited
02471438
SSE Cottered Solar Limited
15346645
SSE Daines BESS Limited
15344013
SSE DE Solar HoldCo Limited
14189570
SSE Derrymeen BESS Limited
NI697259
SSE Digital Services Limited
14621186
SSE Eggborough Limited
14939853
SSE Enterprise Limited
10060563
SSE Ewerby Solar Holdco Limited
14939987
SSE Ewerby Solar Limited
14959032
SSE Fancott Bess Limited
15344001
SSE Ferrybridge Battery Limited
14411214
SSE Fiddlers Ferry Battery Limited
14418916
SSE Foxholes Solar Limited
14044466
SSE Group Limited
SC126049
SSE Heat Networks (Battersea) Limited
10176638
Registered
Company number
SSE HV Electricity Assets Limited
14418288
SSE Hydrogen Developments Limited
15238086
SSE Hydrogen Holdings Limited
15231331
SSE IAMP Microgrid Limited
15333093
SSE Imperial Park PN Limited
02631510
SSE Knapthorpe Solar Limited
14044446
SSE Low Carbon Developments Limited
15069108
SSE Low Carbon Holdings Limited
15052653
SSE Maple Limited
10604848
SSE Medway Operations Limited
02647585
SSE Micro Renewables Limited
SC386017
SSE Multifuel Generation Holdings Limited
12661566
SSE Muskham Solar Limited
14044402
SSE Newchurch Solar Limited
15348120
SSE OWS Glasgow Limited
SC228283
SSE Private Networks Holdco Limited
14921243
SSE Production Services Limited
02499702
SSE Renewables Holdings (UK) Limited
NI043239
SSE Renewables Offshore Windfarm Holdings Limited
SC436251
SSE Renewables Onshore Windfarm Holdings Limited
NI049557
SSE Renewables Poland Holdings Limited
SC723844
SSE Renewables Solar & Battery Holdings Limited
13561962
SSE Renewables UK Limited
NI048447
SSE Renewables Wind Farms (UK) Limited
SC654502
SSE Retail Limited
SC213458
SSE Seabank Investments Limited
02631512
SSE Seabank Land Investments Limited
07877772
SSE Southern Group Trustee Limited
04009847
SSE Southery Solar Limited
14953142
SSE Staythorpe Battery Limited
14046860
SSE Staythorpe Power Limited
14043534
SSE Staythorpe SGT Limited
14046946
SSE Staythorpe Solar Limited
14046913
SSE Thermal Energy Holdings Limited
12650549
SSE Thermal Generation Holdings Limited
12662248
SSE Toddleburn Limited
SC259104
SSE Trustees Limited
03048985
SSE Viking Limited
06021053
SSE(SE) Quest Trustee Limited
03487059
SSEPG (Operations) Limited
02764438
Strathy Wind Farm Limited
SC663103
Tealing Solar Park Limited
08783684
The Energy Solutions Group Bidco Limited
07187066
The Energy Solutions Group Midco Limited
07403400
The Energy Solutions Group Topco Limited
07419528
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-5": { "value": "Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ B ", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-678": { "value": "
A5. Related party transactions
The immediate parent and ultimate controlling party of the Group is SSE plc (incorporated in Scotland). Balances and transactions between the
Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this
note. Details of transactions between the Group and other related parties are disclosed below.
Trading transactions
The following transactions took place during the year between the Group and entities which are related to the Group, but which are not
members of the Group. Related parties are defined as those in which the Group has control, joint control or significant influence over.
2026
2026
2026
2026
2025
2025
2025
2025
Purchase of Purchase of
Sale of goods goods and Amounts owed Amounts owed Sale of goods goods and Amounts owed Amounts owed
and services services from to and services services from to
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Joint arrangements:
Marchwood Power Limited
179.9
(100.8)
\u2013
\u2013
111.2
(116.1)
\u2013
(5.0)
Clyde Windfarm (Scotland)
Limited
2.9
(202.5)
0.8
(64.7)
5.6
(187.6)
0.1
(51.6)
Beatrice Offshore Windfarm
Limited
6.9
(75.1)
0.6
(11.9)
6.3
(86.1)
1.2
(7.1)
Stronelairg Wind Farm Limited
1.3
(91.9)
\u2013
(29.2)
2.6
(88.4)
0.1
(25.1)
Triton Power Holdings Limited
\u2013
(30.3)
\u2013
(5.4)
\u2013
\u2013
\u2013
\u2013
Dunmaglass Wind Farm Limited
0.6
(37.5)
\u2013
(11.2)
1.2
(32.6)
\u2013
(9.0)
Neos Networks Limited
4.0
(25.5)
2.3
(5.3)
6.8
(28.2)
2.1
(4.0)
Seagreen Wind Energy Limited
48.8
(167.6)
7.9
(20.8)
54.6
(171.5)
13.6
(16.8)
Doggerbank A, B, C and D
45.6
(21.6)
61.1
(1.5)
47.7
(2.8)
36.5
(1.0)
Greater Gabbard Offshore Winds
Limited
7.1
(172.9)
0.5
(62.0)
7.5
(134.7)
0.6
(50.6)
Other joint arrangements
21.4
(49.8)
3.4
(5.1)
23.9
(37.4)
12.5
(3.7)
The transactions with Marchwood Power Limited relate to the contracts for the provision of energy or the tolling of energy under power
purchase arrangements.
Details of the Group\u2019s 15-year Affiliate Contract for Difference agreement with Seagreen Wind Energy Limited are included in note A7.2 .
The amounts outstanding are trading balances, are unsecured and will be settled in cash. Aggregate capital loans to joint ventures and
associates are shown in note 16 .
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-679": { "value": "
A6. Financial risk management
This note presents information about the fair value of the Group\u2019s financial instruments, the Group\u2019s exposure to the risks associated with those
instruments, the Group\u2019s objectives, policies and processes for measuring and managing risk, and the Group\u2019s management of capital. Further
qualitative disclosures are included throughout these consolidated financial statements.
The Group has exposure to the following risks from its use of financial instruments:
\u2013 Credit risk
\u2013 Liquidity risk
\u2013C o m m o d i t y r i s k
\u2013 Currency risk
\u2013 Interest rate risk
The Board has overall responsibility for the establishment and oversight of the Group\u2019s risk management framework. The Group\u2019s policies for
risk management are established to identify the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and
adherence to limits. Exposure to commodity, currency and interest rate risks arise in the normal course of the Group\u2019s business and derivative
financial instruments are entered into to manage exposure to these risks.
SSE has a Group wide Risk Committee reporting to the Group Executive Committee, which is responsible for reviewing the risks and exposures
across the Group by overseeing the controls and strategies employed to manage these risks and by ensuring and promoting an effective system
of internal control. In addition, the Group has two dedicated Energy Market risk committees reporting to the Group Executive Committee and
Board respectively, with the Group Executive Sub-committee chaired by the Chief Executive Officer (the \u201cGroup Energy Markets Exposures Risk
Committee\u201d) and the Board Sub-committee chaired by Non-Executive Director Tony Cocker (the \u201cEnergy Markets Risk Committee (EMRC)\u201d).
These Committees oversee the Group\u2019s management of its energy market exposures, including its approach to hedging.
During the year ended 31 March 2026, the Group continued to be exposed to the economic conditions impacting the primary commodities to
which it is exposed (power, gas and carbon). The Group\u2019s approach to hedging, and the diversity of its energy portfolios (across Wind, Hydro,
Thermal and Customers) has provided certain mitigation of these exposures.
At 31 March, the Group\u2019s collateral position was as follows:
2026 2025
Note \u00a3m \u00a3m
Collateral posted included within trade and other receivables
18
13.0
9.6
Collateral held included within trade and other payables
19
(271.3)
(82.5)
Net collateral held
(258.3)
(72.9)
Exposure to the commodity, currency and interest rate risks noted arise in the normal course of the Group\u2019s business and derivative financial
instruments are entered into to manage exposure to these risks. The objectives and policies for holding or issuing financial instruments and
similar contracts, and the strategies for achieving those objectives that have been followed during the year are explained below.
A6.1 Credit risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty fails to meet its contractual obligations.
Credit risk arising from the Group\u2019s normal commercial operations is controlled by individual business units operating in accordance with Group
policies and procedures. Generally, for significant contracts, individual business units enter into contracts or agreements with counterparties
having investment grade credit ratings only, or where suitable collateral or other security has been provided. Counterparty credit validation is
undertaken prior to contractual commitment.
Credit risk management for the Group\u2019s SSEN Transmission and SSEN Distribution businesses is performed in accordance with industry
standards as set out by the Regulator and is financially controlled by the individual business units. The Group\u2019s greatest credit risks lie with the
operations of the Energy Customer Solutions business, the wholesale procurement activities conducted by SSE Energy Markets under a trust
arrangement and the activities carried out by the Group\u2019s Treasury function. In all cases, specific credit risk controls that match the risk profile of
those activities are applied. Exposure to credit risk in the retail supply of power and gas to end user customers arises from the potential of a
customer defaulting on their invoiced payables. The Group exposure to domestic retail supply customers is limited to customers of the Group\u2019s
Airtricity business within Energy Customer Solutions. The creditworthiness of these customers is reviewed from a variety of internal and external
information. The financial strength and creditworthiness of business customers is assessed prior to commencing, and for the duration of, their
contract of supply.
Exposure to credit risk in the procurement of wholesale energy and fuel is managed by reference to agreed transaction credit limits which are
determined by whether the counterparty:
\u2013 holds an investment grade credit rating; or
\u2013 can be assessed as adequately creditworthy in accordance with internal credit rules using information from other external credit agencies; or
\u2013 can provide a guarantee from an investment grade rated entity or post suitable collateral or provide other acceptable assurances in
accordance with group procedures where they have failed to meet the above conditions; or
\u2013 can be allocated a non-standard credit limit approved by the relevant authority as delegated by the Group Board.
Credit support clauses and Master Netting Agreements are typically included or entered into in order to mitigate the impact to the Group
against counterparty failure or non-delivery. As part of its normal activities, SSE Energy Markets transacts significant volumes of commodity
derivative products through cleared exchanges to mitigate credit risk. Such exchanges are subject to strict regulation by the UK Financial
Conduct Authority (FCA) and participants in these exchanges are obliged to meet rigorous capital adequacy requirements.
Individual counterparty credit exposures are monitored regularly and are subject to approved limits. At 31 March 2026, SSE Energy Markets had
pledged \u00a30.2m of cash collateral (2025: \u00a3nil) and \u00a3459.6m (2025: \u00a3494.9m) of letters of credit, and had received \u00a3258.3m (2025: \u00a372.9m) of
cash collateral and \u00a380.5m (2025: \u00a377.8m) of letters of credit principally to reduce exposures on credit risk.
Bank credit exposures, which are monitored and reported on daily, are calculated on a mark-to-market basis and adjusted for future volatility and
probability of default. Any issues relating to these credit exposures are presented for discussion and review by the Tax and Treasury Committee.
Credit exposure also exists in relation to financial guarantees issued by Group companies under which the total outstanding exposure at
31 March 2026 was \u00a3349.1m (2025: \u00a3339.9m) in respect of liabilities of joint ventures and associates and \u00a3479.3m (2025: \u00a3479.3m) in respect
of the liabilities of former subsidiaries. An amount of \u00a321.4m (2025: \u00a325.5m) is recorded as a liability at 31 March 2026 in respect of the carrying
value of these guarantees. Expected loss allowances for financial guarantee contracts have been reviewed at the balance sheet date and will be
reviewed on an annual basis.
Cash and cash equivalents comprise cash in hand and deposits of three months or less which are readily convertible to cash. These are subject
to insignificant risk of change in value or credit risk.
Derivative financial instruments are entered into to cover the Group\u2019s market risks \u2013 commodity risk, interest rate risk, currency risk \u2013 and are
consequently covered elsewhere in this note.
Trade receivables represent the most significant exposure to credit risk and are stated after an allowance for impairment.
231
A6.2 Concentrations of risk
Trade receivables recorded by reported segment held at the 31 March were:
2025
2026 \u00a3m
\u00a3m (restated*)
SSEN Transmission
3.9
14.0
SSEN Distribution
173.3
181.1
SSE Renewables
96.5
100.3
SSE Thermal
79.2
67.5
Energy Customer Solutions
527.9
678.0
SSE Energy Markets
467.6
423.8
Corporate Unallocated
21.8
15.5
Total SSE Group
1,370.2
1,480.2
* The comparatives have been restated to reallocate \u00a31.0m of trade receivables from Gas Storage to SSE Thermal and aggregate \u00a3505.8m and \u00a3172.2m of trade receivables in SSE Business
Energy and SSE Airtricity respectively into Energy Customer Solutions.
Energy Customer Solutions accounts for 38.5% (2025: 45.8%) of the Group\u2019s trade receivables. Trade receivables associated with the Group\u2019s 1.0
million power and gas customers are recorded within this business unit. The Group also has significant trade receivables associated with its SSE
Energy Markets activities which are generally settled within two to four weeks from invoicing. The Group\u2019s exposure to credit risk is therefore
subject to diversification with no exposure to individual Energy Customer Solutions customers totalling >10% of trade receivables. The largest
customer balance, due from a SSE Energy Markets customer (also a SSE Energy Markets supplier), is 7% (2025: 4%) of the total trade receivables.
The ageing of trade receivables at the reporting date was:
2026 2025
\u00a3m \u00a3m
Not past due
1,030.6
1,081.0
Past due but not individually impaired:
0 \u2013 30 days
95.4
140.0
31 \u2013 90 days
115.6
142.7
Over 90 days
284.9
332.0
1,526.5
1,695.7
Less: allowance for impairment
(156.3)
(215.5)
Net trade receivables
1,370.2
1,480.2
The Group has past due debt which has not had an impairment allowance set aside to cover potential credit losses. The Group has certain
procedures to pursue customers in significant arrears and believes its impairment policy in relation to such balances is appropriate. The level of
aged debt across all periods remains consistent with the prior year. The Group also considers various risk factors when assessing the level of
provision to recognise. Trade receivables and contract assets are written off when there is no reasonable expectation of recovery.
The debt impairment charge of \u00a329.4m per the income statement (2025: \u00a347.1m), primarily includes the write-off of \u00a388.6m of trade
receivables (2025: \u00a385.0m) offset by a decrease in the bad debt provision of \u00a359.2m (2025: \u00a337.9m decrease).
The Group has other receivables which are financial assets totalling \u00a36.8m (2025: \u00a36.6m).
The movement in the allowance for impairment of trade receivables was:
2026 2025
\u00a3m \u00a3m
Balance at 1 April
215.5
253.4
Increase in allowance for impairment
42.1
48.8
Impairment losses recognised
(101.3)
(86.7)
Balance at 31 March
156.3
215.5
A6.3 Liquidity risk and Going Concern Liquidity risk, the risk that the Group will have insufficient funds to meet its liabilities, is managed by the Group\u2019s Treasury function. The Group can be exposed to significant movements in its liquidity position due to changes in commodity prices, working capital requirements, the impact of the seasonal nature of the business and phasing of its capital investment programme. Treasury is responsible for managing the banking and liquidity requirements of the Group, risk management relating to interest rate and foreign exchange exposures, and for managing the credit risk relating to the banking counterparties with which it transacts. Short term liquidity is reviewed daily by Treasury, while the longer-term liquidity position is reviewed on a regular basis by the Board. The department\u2019s operations are governed by policies determined by the Board and any breaches of these policies are reported to the Tax and Treasury Committee and Audit Committee. In relation to the Group\u2019s liquidity risk, the Group\u2019s policy is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. During the year, the Group\u2019s internal approach to managing liquidity was to seek to ensure that the Group had available committed borrowings and facilities equal to at least 100% of forecast borrowings over a rolling 12 month period. The Group uses cash flow forecasts to monitor its ongoing borrowing requirements. Typically, the Group will fund any short term borrowing positions by issuing commercial paper or borrowing from committed and uncommitted bank lines and will invest in money market funds when it has a cash surplus. Details of the Group\u2019s borrowings are disclosed at note 21 . In addition to the borrowing facilities listed at note 21.3 , the Group has a \u00a321m overdraft facility. The refinancing requirement in the 26/27 financial year is \u00a31.7bn, being the \u00a3501m of short term commercial paper that matures between April and June, and \u00a31.2bn of medium to long term debt maturing being the \u00a3600m Hybrid maturing in April 2026, \u00a3300m of EIB loans maturing in May 2026 and \u00a3311m of US Private Placements maturing between June 2026 and September 2026. The Directors are confident in the ability of the Group to maintain a funding level above 100% for the Going Concern assessment period based on the strong credit standing and borrowing history of the Group for both fixed debt and commercial paper, as discussed more fully below. Given the committed bank facilities of \u00a36.5bn, \u00a33.0bn excluding Scottish Hydro Electric Transmission plc facilities, maintained by the Group and the current commercial paper market conditions, the Directors have concluded that both the Group and SSE plc as parent company have sufficient headroom to continue as a Going Concern. In coming to this conclusion, the Directors have taken into account the Group\u2019s credit rating and the successful issuance of \u00a36.4bn of medium to long term debt and Hybrid equity in last 5 years, including \u00a32.2bn of long term funding in the current financial year as well as raising \u00a32bn through an equity raise in November 2025. The Group\u2019s period of Going Concern assessment is performed to 31 December 2027, 21 months from the balance sheet date, which isatleast 12 months from the filing deadline of its subsidiary companies. While the formal assessment period was to the period ending 31 December 2027, a period of three months beyond this date was reviewed for significant events that may result in a change to the conclusion of the assessment. No events or circumstances were identified in that period beyond the formal assessment. As well as taking account of the factors noted, the Going Concern conclusion is arrived at after applying stress testing sensitivities to the Group\u2019s cash flow and funding projections including removal of proceeds from unconfirmed future divestments, negative and positive sensitivities on operating cash flows and uncommitted capex and other adjustments. The Group has also considered its obligations under its debt covenants. There have been no breaches of covenants in the year, and the Group\u2019s projections support the expectation that there will be no breach of covenants over the period to 31 December 2027. The statement of Going Concern is included in the Audit Committee Report. As at 31 March 2026, the net value of outstanding cash collateral held in respect of mark-to-market related margin calls on exchange traded positions was \u00a3258.3m (2025: \u00a372.9m). The contractual cash flows shown in the following tables are the contractual undiscounted cashflows under the relevant financial instruments. Where the contractual cashflows are variable based on a price, foreign exchange rate or index in the future, the contractual cashflows in the following tables have been determined with reference to the relevant price, foreign exchange rate, interest rate or index as at the balance sheet date. In determining the interest element of contractual cashflows in cases where the Group has a choice as to the length of in terest calculation periods and the interest rate that applies varies with the period selected, the contractual cashflows have been calculated assuming the Group selects the shortest available interest calculation periods. Where the holder of an instrument has a choice of when to redeem, the amounts in the following tables are on the assumption the holder redeems at the earliest opportunity.
The following are the undiscounted contractual maturities of financial liabilities, including interest and excluding the impact of netting
agreements:
2026
2026
2026
2026
2026
2026
Contractual
Carrying value cash flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
501.2
(502.2)
(502.2)
\u2013
\u2013
\u2013
Loans \u2013 floating
562.7
(693.6)
(26.2)
(226.2)
(300.4)
(140.8)
Loans \u2013 fixed
1,296.4
(1,615.3)
(658.0)
(73.4)
(113.1)
(770.8)
Unsecured bonds \u2013 fixed
7,288.5
(9,935.7)
(306.8)
(1,142.8)
(2,258.3)
(6,227.8)
Fair value adjustment
1 5 . 7
\u2013
\u2013
\u2013
\u2013
\u2013
9,664.5
(12,746.8)
(1,493.2)
(1,442.4)
(2,671.8)
(7,139.4)
Lease liabilities
456.7
(700.1)
(86.8)
(61.6)
(161.6)
(390.1)
10,121.2
(13,446.9)
(1,580.0)
(1,504.0)
(2,833.4)
(7,529.5)
Derivative financial liabilities
Operating derivatives designated at fair value
843.9
2,558.6
1,590.7
704.6
133.0
130.3
Interest rate swaps used for hedging
28.5
(28.5)
\u2013
(16.0)
\u2013
(12.5)
Interest rate swaps designated at fair value
20.7
(20.7)
\u2013
(6.6)
(0.9)
(13.2)
Forward foreign exchange contracts held for hedging
34.5
(2,410.9)
(447.5)
(780.3)
(1,183.1)
\u2013
Forward foreign exchange contracts designated at
fair value
2.7
(113.2)
(43.3)
(12.3)
(57.6)
\u2013
930.3
(14.7)
1,099.9
(110.6)
(1,108.6)
104.6
Other financial liabilities
Trade payables
898.7
(898.7)
(898.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
21.4
(21.4)
(2.4)
(5.0)
(8.4)
(5.6)
920.1
(920.1)
(901.1)
(5.0)
(8.4)
(5.6)
Total
11,971.6
(14,381.7)
(1,381.2)
(1,619.6)
(3,950.4)
(7,430.5)
Derivative financial assets
Financing derivatives
(160.3)
3,227.1
526.9
1,926.5
680.0
93.7
Operating derivatives designated at fair value
(685.0)
(1,278.3)
(1,077.7)
(223.3)
11.9
10.8
(845.3)
1,948.8
(550.8)
1,703.2
691.9
104.5
Net total
(i)
11,126.3
(12,432.9)
(1,932.0)
83.6
(3,258.5)
(7,326.0)
2025
2025
2025
2025
2025
2025
Contractual cash
Carrying value flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
1,230.5
(1,243.0)
(1,243.0)
\u2013
\u2013
\u2013
Loans \u2013 floating
200.0
(233.3)
(11.1)
(11.1)
(211.1)
\u2013
Loans \u2013 fixed
1,300.4
(1,669.0)
(54.6)
(346.7)
(459.1)
(808.6)
Unsecured bonds \u2013 fixed
7,507.1
(10,125.6)
(777.9)
(792.8)
(1,999.5)
(6,555.4)
Fair value adjustment
(88.6)
\u2013
\u2013
\u2013
\u2013
\u2013
10,149.4
(13,270.9)
(2,086.6)
(1,150.6)
(2,669.7)
(7,364.0)
Lease liabilities
455.0
(711.9)
(75.2)
(64.4)
(169.1)
(403.2)
10,604.4
(13,982.8)
(2,161.8)
(1,215.0)
(2,838.8)
(7,767.2)
Derivative financial liabilities
Operating derivatives designated at fair value
162.1
387.3
(81.1)
205.9
92.4
170.1
Interest rate swaps used for hedging
76.8
(76.8)
(45.5)
(17.4)
(12.6)
(1.3)
Interest rate swaps designated at fair value
31.0
(31.0)
(7.4)
(7.5)
(5.5)
(10.6)
Forward foreign exchange contracts held for hedging
19.9
(975.4)
(258.1)
(171.8)
(545.5)
\u2013
Forward foreign exchange contracts designated at fair
value
4.2
(474.0)
(413.6)
(56.2)
(4.2)
\u2013
294.0
(1,169.9)
(805.7)
(47.0)
(475.4)
158.2
Other financial liabilities
Trade payables
710.7
(710.7)
(710.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
25.5
(25.5)
(2.4)
(7.8)
(3.6)
(11.7)
736.2
(736.2)
(713.1)
(7.8)
(3.6)
(11.7)
Total
11,634.6
(15,888.9)
(3,680.6)
(1,269.8)
(3,317.8)
(7,620.7)
Derivative financial assets
Financing derivatives
(83.7)
793.5
544.2
172.9
70.9
5.5
Operating derivatives designated at fair value
(158.2)
366.5
304.6
26.0
24.0
11.9
(241.9)
1,160.0
848.8
198.9
94.9
17.4
Net total
(i)
11,392.7
(14,728.9)
(2,831.8)
(1,070.9)
(3,222.9)
(7,603.3)
(i) The Group believes the liquidity risk associated with out-of-the-money operating derivative contracts needs to be considered in conjunction with the profile of payments or receipts arising
from derivative financial assets. It should be noted that cash flows associated with future energy sales and commodity contracts which are not IFRS 9 financial instruments are not included
in this analysis, which is prepared in accordance with IFRS 7 \u201cFinancial Instruments: Disclosures\u201d.
A6.4 Commodity risk
The Group\u2019s Energy Markets business implements the hedging policy through trading in the commodity markets and manages the requirement
for the delivery of the Group\u2019s physical commodity needs as part of its normal course of business. The risk management activity carried out
by SSE Energy Markets arises from the Group\u2019s requirement to source gas, electricity or other commodities such as renewable obligation
certificates for Energy Customer Solutions, and to procure fuel and other commodities and provide a route-to-market and risk management
services for SSE Renewables and SSE Thermal.
Current hedging approach
The Group has traded in three principal commodities during the year, as well as the spreads between two or more commodity prices: power
(baseload and other products); gas; and carbon (emissions allowances). Each commodity has different liquidity characteristics, which impacts
on the degree of hedging possible. Similarly, each of the Group\u2019s assets carries different exposures to the commodity market and thus requires
a different approach to hedging. As such, the Group\u2019s current hedging approach varies by each class of asset as follows:
Asset class
Minimum Hedge Target
Principal Commodity Exposures
Wind
Target to hedge less than 100% of anticipated wind energy output for the
Power
coming 12 months, progressively establishing the hedge over the 36 months
prior to delivery.
Hydro
Target to hedge less than 100% of forecast generation 12 months in advance of
Power
delivery, progressively established over the 36 months prior to delivery.
Thermal
Hedging for the flexible thermal fleet is by its nature dynamic, changing as market
Power, Gas, Carbon
values vary with a constant process of re-optimisation to accrue future value for
the Thermal fleet.
Gas Storage The assets were commercially operated throughout the year and the business Gas
managed its exposure to changes in the spread between summer and winter
prices, market volatility and plant availability.
SSE Business Energy
Sales to contract customers are 100% hedged: at point of sale for fixed, upon
Power, Gas
instruction for flexi and on a rolling basis for tariff customers.
However, there are three principal areas where significant variations in earnings cannot be fully mitigated through hedging:
\u2013 The impact of the weather on the volume of electricity produced from renewable sources;
\u2013 The impact of operational matters such as unplanned outages; and
\u2013 The ability of flexible thermal power stations to earn extrinsic income by providing services to the electricity system and by responding to
shorter-term electricity market conditions.
Hedging is carried out by each asset class trading internally with SSE Energy Markets to affect these hedges and SSE Energy Markets then
trading onwards with external counterparties and markets. SSE Energy Markets is only able to accept internal trades when there is sufficient
liquidity to offset them in the external market or they can be offset with internal trades from other asset classes. In this way, the commodity risks
to which SSE Energy Markets is individually exposed, are minimised.
The volumetric extent to which assets are hedged are reported monthly to the Group Energy Markets Exposures Risk Committee, and to the
Energy Markets Risk Committee (\u201cEMRC\u201d) on at least a quarterly basis. Variations to the hedging approach above will be required as markets and
other factors (such as asset disposals) change. The EMRC also receives reporting on credit risk, other risk measures, and market liquidity in
assessing whether any variations to the hedging approach are required.
The Group measures and manages the Commodity Risk associated with the financial and non-financial commodity contracts it is exposed to.
However, within the Group\u2019s financial statements only certain commodity contracts are designated as financial instruments under IFRS 9. As a
result, it is only the fair value of those IFRS 9 financial instruments which represents the exposure of the Group\u2019s commodity price risk under
IFRS 7. This is a consequence of the Group\u2019s accounting policy which stipulates that commodity contracts which are designated as financial
instruments under IFRS 9 should be accounted for on a fair value basis with changes in fair value reflected in profit or equity. Conversely,
commodity contracts that are not designated as financial instruments under IFRS 9 will be accounted for as \u201cown use\u201d contracts. As fair value
changes in own use contracts are not reflected through profit or equity, these do not represent the IFRS 7 commodity price risk. Furthermore,
other physical contracts can be treated as the hedging instrument in documented cash flow hedging relationships where the hedged item is the
forecast future purchase requirement to meet production or customer demand. The accounting policies associated with financial instruments
are explained in the Accompanying Information section A1
.
Sensitivity analysis
The Group\u2019s exposure to commodity price risk according to IFRS 7 is measured by reference to the Group\u2019s IFRS 9 commodity contracts.
IFRS 7 requires disclosure of a sensitivity analysis for market risks that is intended to illustrate the sensitivity of the Group\u2019s financial position and
performance to changes in market variables impacting upon the fair value or cash flows associated with the Group\u2019s financial instruments.
Therefore, the sensitivity analysis provided discloses the effect on profit or loss and equity at the balance sheet date assuming that a reasonably
possible change in the relevant commodity price had occurred and been applied to the risk exposures in existence at that date. The reasonably
possible changes in commodity prices used in the sensitivity analysis were determined based on calculated or implied volatilities where
available, or historical data.
The sensitivity analysis has been calculated on the basis that the proportion of commodity contracts that are IFRS 9 financial instruments remains
consistent with those at that point. Excluded from this analysis are all commodity contracts that are not financial instruments under IFRS 9.
2026
2025
Reasonably Reasonably
possible possible
increase/ increase/
decrease in decrease in
Base Price
(i)
variable
Base Price(i)
variable
Commodity prices
UK gas (p/therm)
92
+62/-47
89
+50/\u201340
EU gas (\u20ac/MWh)
(ii)
\u2013
\u2013
34
+19/\u201315
UK power (\u00a3/MWh)
101
+94/-70
88
+39/\u201334
UK carbon (\u00a3/tonne)
43
+27/-21
45
+23/\u201319
EU carbon (\u20ac/tonne)
79
+37/-30
71
+40/\u201332
IRL power (\u20ac/MWh)
141
+65/-51
123
+59/\u201348
EU power (\u20ac/MWh)
(ii)
\u2013
\u2013
31
+11/\u201310
(i) The base price represents the weighted average forward market price over the duration of the active market curve used to calculate the sensitivity analysis. The reasonably possible
increase/decrease in market prices has been determined via SSE Energy Markets price model simulations and the volatility assumptions of the model have been calibrated from a look-back
analysis over the previous 12 month period.
(ii) A price sensitivity is not presented for EU power or EU gas as the Group had no EU power volumetric exposure and a net nil EU gas volumetric exposure at the reporting date; accordingly,
there would be no impact from a reasonably possible increase or decrease in these commodity prices.
The impacts of reasonably possible changes in commodity prices on profit after taxation based on the rationale described are as follows:
2026 2025
Impact on Impact on
profit and profit and
equity equity
Incremental profit/(loss) \u00a3m \u00a3m
Commodity prices combined \u2013 increase
(645.2)
(287.1)
Commodity prices combined \u2013 decrease
487.4
212.6
The sensitivity analysis provided is hypothetical and is based on the exposure to energy-related commodities, and their corresponding valuation
under IFRS 9, that the Group has at each year end. This analysis should be used with caution as the impacts disclosed are not necessarily
indicative of the actual impacts that would be experienced given it does not consider all interrelationships, consequences and effects of such a
change in those prices.
A6.5 Currency risk
The Group presents its consolidated financial statements in pounds Sterling. The Group is exposed to foreign currency risk arising from
transactions denominated in currencies other than Sterling and from its net investments in foreign operations. As a result, it is subject to foreign
currency exchange risk arising from exchange rate movements which will be reflected in the Group\u2019s transaction costs or in the underlying
foreign currency assets of its foreign operations.
The Group\u2019s policy is to use forward contracts, swaps and options to manage its exposures to foreign exchange risk. All such exposures are
transactional in nature, and relate primarily to procurement contracts, commodity purchasing and related freight requirements, commodity
hedging, long term plant servicing and maintenance agreements and the purchase and sale of carbon emission certificates. The policy is
to seek to hedge 100% of its currency requirements arising under all committed contracts excepting commodity hedge transactions, the
requirements for which are significantly less predictable. The policy for these latter transactions is to assess the Group\u2019s requirements on a
rolling basis and to enter into cover contracts as appropriate.
The Group has foreign operations with significant Euro-denominated and JPY-denominated net assets. The Group\u2019s policy is to hedge its net
investment in its foreign operations by ensuring the net assets whose functional currency cash flows are denominated in foreign currencies
are matched by borrowings in the same currency. For SSE Pacifico, whose functional currency is JPY but which presently has limited capital
commitments, SSE has no JPY denominated borrowings and hence has no current net investment hedge. For the acquired net assets whose
functional cash flows are in Sterling, the Group will ensure Sterling denominated borrowings are in place to minimise currency risk.
Significant exposures are reported to, and discussed by, the Tax and Treasury Committee on an ongoing basis and additionally form part of the
bi-annual Treasury report to the Audit Committee.
At the balance sheet date, the total nominal value of outstanding forward foreign exchange contracts that the Group has committed to is:
2026 2025
\u00a3m \u00a3m
Forward foreign exchange contracts
8,286.1
4,086.1
The Group\u2019s exposure to foreign currency risk was as follows:
2026
2025
SEK $ \u20ac CNH CHF NOK SEK $ \u20ac CNH CHF
(million) (million) (million) (million) (million) (million) (million) (million) (million) (million) (million)
Loans and borrowings
\u2013
244.0
5,427.5
\u2013
\u2013
3,000.0
\u2013
244.0
5,200.0
\u2013
\u2013
Purchase and commodity
contract commitments
28,154.3
815.5
3,050.9
29.6
10.4
198.4
4,881.7
33.8
1,743.7
\u2013
10.4
Gross exposure
28,154.3
1,059.5
8,478.4
29.6
10.4
3,198.4
4,881.7
277.8
6,943.7
\u2013
10.4
Forward exchange/swap
contracts
28,154.3
1,059.5
5,596.5
29.6
10.4
3,198.4
4,881.7
277.8
4,028.9
\u2013
10.4
Net exposure (in currency)
\u2013
\u2013
2 , 8 8 1 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 , 9 1 4 . 8
\u2013
\u2013
Net exposure (in \u00a3m)
\u2013
\u2013
2,516.7
\u2013
\u2013
\u2013
\u2013
\u2013
2,441.6
\u2013
\u2013
This represents the net exposure to foreign currencies, reported in pounds Sterling, and arising from all Group activities. All sensitivity analysis
has been prepared on the basis of the relative proportions of instruments in foreign currencies being consistent as at the balance sheet date.
This includes only monetary assets and liabilities denominated in a currency other than Sterling and excludes the translation of the net assets
of foreign operations but not the corresponding impact of the net investment hedge.
The following sensitivity analysis is provided for monetary assets in Euro only, as the only currency with significant net exposure as at the current
and prior year end, as noted above. The sensitivity analysis is indicative only and it should be noted that the Group\u2019s exposure to such market
rate changes is continually changing. The calculations are based on linear extrapolations of rate changes which may not reflect the actual result
which would impact upon the Group.
The majority of these contracts are held to limit exposure to foreign currency movements on asset procurement contracts. A 10% change in
foreign currency exchange rates would have had the following impact on profit after taxation, based on the assumptions presented above:
Equity
Income statement
At 31 March At 31 March At 31 March At 31 March
2026 2025 2026 2025
\u00a3m \u00a3m \u00a3m \u00a3m
Euro
187.6
167.5
22.2
35.9
The impact of a decrease in rates would be an identical reduction in the annual charge.
A6.6 Interest rate risk
Interest rate risk arises from the Group\u2019s exposure to changes in the value of financial assets and liabilities, and to variability in future cash flows,
resulting from movements in market interest rates.
The Group manages this risk by maintaining a fixed interest rate profile. At each reporting period end, the Group\u2019s policy is to ensure that at least
80% of debt is fixed for the following 12 months, at least 70% is fixed for the 12 month period commencing in 12 months\u2019 time and at least 60%
is fixed for the 12-month period commencing in 24 months\u2019 time, either directly through the debt instruments themselves or through the use
of derivative financial instruments. Floating rate borrowings are provided by banks including the European Investment Bank (EIB) and the short
term issuance on the \u20ac1.5bn commercial paper programme. Derivative instruments used to manage interest rate risk include interest rate swaps
and options, forward rate agreements and, where debt is raised in currencies other than Sterling, cross-currency interest rate swaps. These
practices serve to reduce the volatility of the Group\u2019s financial performance.
Interest rate derivatives are primarily used to hedge risk relating to existing borrowings; in certain circumstances, derivatives may also be used to
hedge forecast borrowings. Any such pre-hedging is unwound at the time of pricing the underlying debt, either through cash settlement on a
net present value basis or by transacting offsetting trades. Floating rate borrowings mainly comprise term loans from the European Investment
Bank (EIB), and other relationship banks as well as outstanding commercial paper issuance. At the reporting date, the Group also held a surplus
cash of \u00a31,542.9m (2025: \u00a31,090.5m), which gives rise to interest rate exposure.
The impact of a change in interest rates is dependent on the specific details of the financial asset or liability in question. Changes in fixed rate
financial assets and liabilities, which account for the majority of cash, loans and borrowings, are not measured at fair value through the income
statement and are therefore not sensitive to interest rate movements in the profit or loss. Changes in variable rate assets and liabilities, including
those arising from floating rate working capital arrangements and forecast interest cash flows, are managed through the use of derivative
financial instruments, including fixed-to-floating cross-currency interest rate swaps. Where fair value hedge accounting is applied, changes
in the fair value of both the hedged items and the hedging instruments that are attributable to interest rate risk are recognised in the income
statement. Where cash flow hedging accounting is applied, the effective portion of movements in the hedging instruments is initially recognised
in other comprehensive income and subsequently reclassified to the income statement as the hedged cash flows affect profit or loss.
Accordingly, the interest rate exposure reflects the Group\u2019s variable rate debt, forecast interest cash flows and related derivative instruments,
rather than its fixed rate instruments.
The net exposure to interest rates at the balance sheet date can be summarised thus:
2026 2025
Carrying Carrying
amount amount
\u00a3m \u00a3m
Interest bearing/earning assets and liabilities:
fixed
(9,424.5)
(9,901.8)
floating
913.8
349.1
(8,510.7)
(9,552.7)
Represented by:
Cash and cash equivalents
1,542.9
1,090.5
Derivative financial assets/(liabilities)
67.6
(38.8)
Loans and borrowings
(9,664.5)
(10,149.4)
Lease liabilities
(456.7)
(455.0)
(8,510.7)
(9,552.7)
The table below illustrates the expected impact on the income statement of a change of 100 basis points parallel shift in short term interest
rates at the reporting date. The analysis assumes that the interest rate change occurs at the balance sheet date and all other variables remain
constant.
The sensitivity is calculated based on the Group\u2019s interest rate risk exposures outstanding at the balance sheet date, reflecting the proportion of
fixed to floating instruments at that date, and is stated after the effect of taxation. The analysis incorporates the impact of derivative instruments
designated in hedge accounting relationships, where applicable.
The sensitivity analysis is indicative only. The Group\u2019s exposure to interest rate movements changes over time as the level and mix of debt and
derivative instruments vary, and year-end balances are not necessarily representative of average exposures during that period. The calculation is
based on linear extrapolations of interest rate movements and may not reflect the actual impact on the Group\u2019s results.
2026 2025
\u00a3m \u00a3m
Income statement
4.7
5.6
A decrease in interest rates of an equal magnitude would result in a corresponding reduction in the annual charge. There is no impact on equity
as the analysis relates to the Group\u2019s net exposure at the balance sheet date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-719": { "value": "A6.1 Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty fails to meet its contractual obligations. Credit risk arising from the Group\u2019s normal commercial operations is controlled by individual business units operating in accordance with Group policies and procedures. Generally, for significant contracts, individual business units enter into contracts or agreements with counterparties having investment grade credit ratings only, or where suitable collateral or other security has been provided. Counterparty credit validation is undertaken prior to contractual commitment. Credit risk management for the Group\u2019s SSEN Transmission and SSEN Distribution businesses is performed in accordance with industry standards as set out by the Regulator and is financially controlled by the individual business units. The Group\u2019s greatest credit risks lie with the operations of the Energy Customer Solutions business, the wholesale procurement activities conducted by SSE Energy Markets under a trust arrangement and the activities carried out by the Group\u2019s Treasury function. In all cases, specific credit risk controls that match the risk profile of those activities are applied. Exposure to credit risk in the retail supply of power and gas to end user customers arises from the potential of a customer defaulting on their invoiced payables. The Group exposure to domestic retail supply customers is limited to customers of the Group\u2019s Airtricity business within Energy Customer Solutions. The creditworthiness of these customers is reviewed from a variety of internal and external information. The financial strength and creditworthiness of business customers is assessed prior to commencing, and for the duration of, their contract of supply. Exposure to credit risk in the procurement of wholesale energy and fuel is managed by reference to agreed transaction credit limits which are determined by whether the counterparty: \u2013 holds an investment grade credit rating; or \u2013 can be assessed as adequately creditworthy in accordance with internal credit rules using information from other external credit agencies; or \u2013 can provide a guarantee from an investment grade rated entity or post suitable collateral or provide other acceptable assurances in accordance with group procedures where they have failed to meet the above conditions; or \u2013 can be allocated a non-standard credit limit approved by the relevant authority as delegated by the Group Board. Credit support clauses and Master Netting Agreements are typically included or entered into in order to mitigate the impact to the Group against counterparty failure or non-delivery. As part of its normal activities, SSE Energy Markets transacts significant volumes of commodity derivative products through cleared exchanges to mitigate credit risk. Such exchanges are subject to strict regulation by the UK Financial Conduct Authority (FCA) and participants in these exchanges are obliged to meet rigorous capital adequacy requirements. Individual counterparty credit exposures are monitored regularly and are subject to approved limits. At 31 March 2026, SSE Energy Markets had pledged \u00a30.2m of cash collateral (2025: \u00a3nil) and \u00a3459.6m (2025: \u00a3494.9m) of letters of credit, and had received \u00a3258.3m (2025: \u00a372.9m) of cash collateral and \u00a380.5m (2025: \u00a377.8m) of letters of credit principally to reduce exposures on credit risk. Bank credit exposures, which are monitored and reported on daily, are calculated on a mark-to-market basis and adjusted for future volatility and probability of default. Any issues relating to these credit exposures are presented for discussion and review by the Tax and Treasury Committee. Credit exposure also exists in relation to financial guarantees issued by Group companies under which the total outstanding exposure at 31 March 2026 was \u00a3349.1m (2025: \u00a3339.9m) in respect of liabilities of joint ventures and associates and \u00a3479.3m (2025: \u00a3479.3m) in respect of the liabilities of former subsidiaries. An amount of \u00a321.4m (2025: \u00a325.5m) is recorded as a liability at 31 March 2026 in respect of the carrying value of these guarantees. Expected loss allowances for financial guarantee contracts have been reviewed at the balance sheet date and will be reviewed on an annual basis. Cash and cash equivalents comprise cash in hand and deposits of three months or less which are readily convertible to cash. These are subject to insignificant risk of change in value or credit risk. Derivative financial instruments are entered into to cover the Group\u2019s market risks \u2013 commodity risk, interest rate risk, currency risk \u2013 and are consequently covered elsewhere in this note. Trade receivables represent the most significant exposure to credit risk and are stated after an allowance for impairment. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-763": { "value": "
A6.3 Liquidity risk and Going Concern
Liquidity risk, the risk that the Group will have insufficient funds to meet its liabilities, is managed by the Group\u2019s Treasury function. The Group
can be exposed to significant movements in its liquidity position due to changes in commodity prices, working capital requirements, the impact
of the seasonal nature of the business and phasing of its capital investment programme.
Treasury is responsible for managing the banking and liquidity requirements of the Group, risk management relating to interest rate and foreign
exchange exposures, and for managing the credit risk relating to the banking counterparties with which it transacts. Short term liquidity is reviewed
daily by Treasury, while the longer-term liquidity position is reviewed on a regular basis by the Board. The department\u2019s operations are governed by
policies determined by the Board and any breaches of these policies are reported to the Tax and Treasury Committee and Audit Committee.
In relation to the Group\u2019s liquidity risk, the Group\u2019s policy is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities
when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation.
During the year, the Group\u2019s internal approach to managing liquidity was to seek to ensure that the Group had available committed borrowings
and facilities equal to at least 100% of forecast borrowings over a rolling 12 month period.
The Group uses cash flow forecasts to monitor its ongoing borrowing requirements. Typically, the Group will fund any short term borrowing
positions by issuing commercial paper or borrowing from committed and uncommitted bank lines and will invest in money market funds when
it has a cash surplus. Details of the Group\u2019s borrowings are disclosed at note 21
. In addition to the borrowing facilities listed at note 21.3 ,
the Group has a \u00a321m overdraft facility.
The refinancing requirement in the 26/27 financial year is \u00a31.7bn, being the \u00a3501m of short term commercial paper that matures between April
and June, and \u00a31.2bn of medium to long term debt maturing being the \u00a3600m Hybrid maturing in April 2026, \u00a3300m of EIB loans maturing in
May 2026 and \u00a3311m of US Private Placements maturing between June 2026 and September 2026. The Directors are confident in the ability of
the Group to maintain a funding level above 100% for the Going Concern assessment period based on the strong credit standing and
borrowing history of the Group for both fixed debt and commercial paper, as discussed more fully below.
Given the committed bank facilities of \u00a36.5bn, \u00a33.0bn excluding Scottish Hydro Electric Transmission plc facilities, maintained by the Group
and the current commercial paper market conditions, the Directors have concluded that both the Group and SSE plc as parent company have
sufficient headroom to continue as a Going Concern. In coming to this conclusion, the Directors have taken into account the Group\u2019s credit
rating and the successful issuance of \u00a36.4bn of medium to long term debt and Hybrid equity in last 5 years, including \u00a32.2bn of long term
funding in the current financial year as well as raising \u00a32bn through an equity raise in November 2025.
The Group\u2019s period of Going Concern assessment is performed to 31 December 2027, 21 months from the balance sheet date, which isatleast
12 months from the filing deadline of its subsidiary companies. While the formal assessment period was to the period ending 31 December
2027, a period of three months beyond this date was reviewed for significant events that may result in a change to the conclusion of the
assessment. No events or circumstances were identified in that period beyond the formal assessment. As well as taking account of the factors
noted, the Going Concern conclusion is arrived at after applying stress testing sensitivities to the Group\u2019s cash flow and funding projections
including removal of proceeds from unconfirmed future divestments, negative and positive sensitivities on operating cash flows and
uncommitted capex and other adjustments. The Group has also considered its obligations under its debt covenants. There have been no
breaches of covenants in the year, and the Group\u2019s projections support the expectation that there will be no breach of covenants over the
period to 31 December 2027. The statement of Going Concern is included in the Audit Committee Report.
As at 31 March 2026, the net value of outstanding cash collateral held in respect of mark-to-market related margin calls on exchange traded
positions was \u00a3258.3m (2025: \u00a372.9m).
The contractual cash flows shown in the following tables are the contractual undiscounted cashflows under the relevant financial instruments.
Where the contractual cashflows are variable based on a price, foreign exchange rate or index in the future, the contractual cashflows in the
following tables have been determined with reference to the relevant price, foreign exchange rate, interest rate or index as at the balance sheet
date. In determining the interest element of contractual cashflows in cases where the Group has a choice as to the length of in
terest calculation
periods and the interest rate that applies varies with the period selected, the contractual cashflows have been calculated assuming the Group
selects the shortest available interest calculation periods. Where the holder of an instrument has a choice of when to redeem, the amounts in
the following tables are on the assumption the holder redeems at the earliest opportunity.
The following are the undiscounted contractual maturities of financial liabilities, including interest and excluding the impact of netting agreements:
2026
2026
2026
2026
2026
2026
Contractual
Carrying value cash flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
501.2
(502.2)
(502.2)
\u2013
\u2013
\u2013
Loans \u2013 floating
562.7
(693.6)
(26.2)
(226.2)
(300.4)
(140.8)
Loans \u2013 fixed
1,296.4
(1,615.3)
(658.0)
(73.4)
(113.1)
(770.8)
Unsecured bonds \u2013 fixed
7,288.5
(9,935.7)
(306.8)
(1,142.8)
(2,258.3)
(6,227.8)
Fair value adjustment
1 5 . 7
\u2013
\u2013
\u2013
\u2013
\u2013
9,664.5
(12,746.8)
(1,493.2)
(1,442.4)
(2,671.8)
(7,139.4)
Lease liabilities
456.7
(700.1)
(86.8)
(61.6)
(161.6)
(390.1)
10,121.2
(13,446.9)
(1,580.0)
(1,504.0)
(2,833.4)
(7,529.5)
Derivative financial liabilities
Operating derivatives designated at fair value
843.9
2,558.6
1,590.7
704.6
133.0
130.3
Interest rate swaps used for hedging
28.5
(28.5)
\u2013
(16.0)
\u2013
(12.5)
Interest rate swaps designated at fair value
20.7
(20.7)
\u2013
(6.6)
(0.9)
(13.2)
Forward foreign exchange contracts held for hedging
34.5
(2,410.9)
(447.5)
(780.3)
(1,183.1)
\u2013
Forward foreign exchange contracts designated at
fair value
2.7
(113.2)
(43.3)
(12.3)
(57.6)
\u2013
930.3
(14.7)
1,099.9
(110.6)
(1,108.6)
104.6
Other financial liabilities
Trade payables
898.7
(898.7)
(898.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
21.4
(21.4)
(2.4)
(5.0)
(8.4)
(5.6)
920.1
(920.1)
(901.1)
(5.0)
(8.4)
(5.6)
Total
11,971.6
(14,381.7)
(1,381.2)
(1,619.6)
(3,950.4)
(7,430.5)
Derivative financial assets
Financing derivatives
(160.3)
3,227.1
526.9
1,926.5
680.0
93.7
Operating derivatives designated at fair value
(685.0)
(1,278.3)
(1,077.7)
(223.3)
11.9
10.8
(845.3)
1,948.8
(550.8)
1,703.2
691.9
104.5
Net total
(i)
11,126.3
(12,432.9)
(1,932.0)
83.6
(3,258.5)
(7,326.0)
2025
2025
2025
2025
2025
2025
Contractual cash
Carrying value flows 0 \u2013 12 months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Liquidity risk \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Loans and borrowings
Commercial paper and cash advances
1,230.5
(1,243.0)
(1,243.0)
\u2013
\u2013
\u2013
Loans \u2013 floating
200.0
(233.3)
(11.1)
(11.1)
(211.1)
\u2013
Loans \u2013 fixed
1,300.4
(1,669.0)
(54.6)
(346.7)
(459.1)
(808.6)
Unsecured bonds \u2013 fixed
7,507.1
(10,125.6)
(777.9)
(792.8)
(1,999.5)
(6,555.4)
Fair value adjustment
(88.6)
\u2013
\u2013
\u2013
\u2013
\u2013
10,149.4
(13,270.9)
(2,086.6)
(1,150.6)
(2,669.7)
(7,364.0)
Lease liabilities
455.0
(711.9)
(75.2)
(64.4)
(169.1)
(403.2)
10,604.4
(13,982.8)
(2,161.8)
(1,215.0)
(2,838.8)
(7,767.2)
Derivative financial liabilities
Operating derivatives designated at fair value
162.1
387.3
(81.1)
205.9
92.4
170.1
Interest rate swaps used for hedging
76.8
(76.8)
(45.5)
(17.4)
(12.6)
(1.3)
Interest rate swaps designated at fair value
31.0
(31.0)
(7.4)
(7.5)
(5.5)
(10.6)
Forward foreign exchange contracts held for hedging
19.9
(975.4)
(258.1)
(171.8)
(545.5)
\u2013
Forward foreign exchange contracts designated at fair
value
4.2
(474.0)
(413.6)
(56.2)
(4.2)
\u2013
294.0
(1,169.9)
(805.7)
(47.0)
(475.4)
158.2
Other financial liabilities
Trade payables
710.7
(710.7)
(710.7)
\u2013
\u2013
\u2013
Financial guarantee liabilities
25.5
(25.5)
(2.4)
(7.8)
(3.6)
(11.7)
736.2
(736.2)
(713.1)
(7.8)
(3.6)
(11.7)
Total
11,634.6
(15,888.9)
(3,680.6)
(1,269.8)
(3,317.8)
(7,620.7)
Derivative financial assets
Financing derivatives
(83.7)
793.5
544.2
172.9
70.9
5.5
Operating derivatives designated at fair value
(158.2)
366.5
304.6
26.0
24.0
11.9
(241.9)
1,160.0
848.8
198.9
94.9
17.4
Net total
(i)
11,392.7
(14,728.9)
(2,831.8)
(1,070.9)
(3,222.9)
(7,603.3)
(i) The Group believes the liquidity risk associated with out-of-the-money operating derivative contracts needs to be considered in conjunction with the profile of payments or receipts arising from derivative financial assets. It should be noted that cash flows associated with future energy sales and commodity contracts which are not IFRS 9 financial instruments are not included in this analysis, which is prepared in accordance with IFRS 7 \u201cFinancial Instruments: Disclosures\u201d. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-720": { "value": "A6.4 Commodity risk The Group\u2019s Energy Markets business implements the hedging policy through trading in the commodity markets and manages the requirement for the delivery of the Group\u2019s physical commodity needs as part of its normal course of business. The risk management activity carried out by SSE Energy Markets arises from the Group\u2019s requirement to source gas, electricity or other commodities such as renewable obligation certificates for Energy Customer Solutions, and to procure fuel and other commodities and provide a route-to-market and risk management services for SSE Renewables and SSE Thermal. Current hedging approach The Group has traded in three principal commodities during the year, as well as the spreads between two or more commodity prices: power (baseload and other products); gas; and carbon (emissions allowances). Each commodity has different liquidity characteristics, which impacts on the degree of hedging possible. Similarly, each of the Group\u2019s assets carries different exposures to the commodity market and thus requires a different approach to hedging. As such, the Group\u2019s current hedging approach varies by each class of asset as follows:
Asset class
Minimum Hedge Target
Principal Commodity Exposures
Wind
Target to hedge less than 100% of anticipated wind energy output for the
Power
coming 12 months, progressively establishing the hedge over the 36 months
prior to delivery.
Hydro
Target to hedge less than 100% of forecast generation 12 months in advance of
Power
delivery, progressively established over the 36 months prior to delivery.
Thermal
Hedging for the flexible thermal fleet is by its nature dynamic, changing as market
Power, Gas, Carbon
values vary with a constant process of re-optimisation to accrue future value for
the Thermal fleet.
Gas Storage The assets were commercially operated throughout the year and the business Gas
managed its exposure to changes in the spread between summer and winter
prices, market volatility and plant availability.
SSE Business Energy
Sales to contract customers are 100% hedged: at point of sale for fixed, upon
Power, Gas
instruction for flexi and on a rolling basis for tariff customers.
However, there are three principal areas where significant variations in earnings cannot be fully mitigated through hedging: \u2013 The impact of the weather on the volume of electricity produced from renewable sources; \u2013 The impact of operational matters such as unplanned outages; and \u2013 The ability of flexible thermal power stations to earn extrinsic income by providing services to the electricity system and by responding to shorter-term electricity market conditions. Hedging is carried out by each asset class trading internally with SSE Energy Markets to affect these hedges and SSE Energy Markets then trading onwards with external counterparties and markets. SSE Energy Markets is only able to accept internal trades when there is sufficient liquidity to offset them in the external market or they can be offset with internal trades from other asset classes. In this way, the commodity risks to which SSE Energy Markets is individually exposed, are minimised. The volumetric extent to which assets are hedged are reported monthly to the Group Energy Markets Exposures Risk Committee, and to the Energy Markets Risk Committee (\u201cEMRC\u201d) on at least a quarterly basis. Variations to the hedging approach above will be required as markets and other factors (such as asset disposals) change. The EMRC also receives reporting on credit risk, other risk measures, and market liquidity in assessing whether any variations to the hedging approach are required. The Group measures and manages the Commodity Risk associated with the financial and non-financial commodity contracts it is exposed to. However, within the Group\u2019s financial statements only certain commodity contracts are designated as financial instruments under IFRS 9. As a result, it is only the fair value of those IFRS 9 financial instruments which represents the exposure of the Group\u2019s commodity price risk under IFRS 7. This is a consequence of the Group\u2019s accounting policy which stipulates that commodity contracts which are designated as financial instruments under IFRS 9 should be accounted for on a fair value basis with changes in fair value reflected in profit or equity. Conversely, commodity contracts that are not designated as financial instruments under IFRS 9 will be accounted for as \u201cown use\u201d contracts. As fair value changes in own use contracts are not reflected through profit or equity, these do not represent the IFRS 7 commodity price risk. Furthermore, other physical contracts can be treated as the hedging instrument in documented cash flow hedging relationships where the hedged item is the forecast future purchase requirement to meet production or customer demand. The accounting policies associated with financial instruments are explained in the Accompanying Information section A1 . Sensitivity analysis The Group\u2019s exposure to commodity price risk according to IFRS 7 is measured by reference to the Group\u2019s IFRS 9 commodity contracts. IFRS 7 requires disclosure of a sensitivity analysis for market risks that is intended to illustrate the sensitivity of the Group\u2019s financial position and performance to changes in market variables impacting upon the fair value or cash flows associated with the Group\u2019s financial instruments. Therefore, the sensitivity analysis provided discloses the effect on profit or loss and equity at the balance sheet date assuming that a reasonably possible change in the relevant commodity price had occurred and been applied to the risk exposures in existence at that date. The reasonably possible changes in commodity prices used in the sensitivity analysis were determined based on calculated or implied volatilities where available, or historical data. The sensitivity analysis has been calculated on the basis that the proportion of commodity contracts that are IFRS 9 financial instruments remains consistent with those at that point. Excluded from this analysis are all commodity contracts that are not financial instruments under IFRS 9.
2026
2025
Reasonably Reasonably
possible possible
increase/ increase/
decrease in decrease in
Base Price
(i)
variable
Base Price(i)
variable
Commodity prices
UK gas (p/therm)
92
+62/-47
89
+50/\u201340
EU gas (\u20ac/MWh)
(ii)
\u2013
\u2013
34
+19/\u201315
UK power (\u00a3/MWh)
101
+94/-70
88
+39/\u201334
UK carbon (\u00a3/tonne)
43
+27/-21
45
+23/\u201319
EU carbon (\u20ac/tonne)
79
+37/-30
71
+40/\u201332
IRL power (\u20ac/MWh)
141
+65/-51
123
+59/\u201348
EU power (\u20ac/MWh)
(ii)
\u2013
\u2013
31
+11/\u201310
(i) The base price represents the weighted average forward market price over the duration of the active market curve used to calculate the sensitivity analysis. The reasonably possible increase/decrease in market prices has been determined via SSE Energy Markets price model simulations and the volatility assumptions of the model have been calibrated from a look-back analysis over the previous 12 month period. (ii) A price sensitivity is not presented for EU power or EU gas as the Group had no EU power volumetric exposure and a net nil EU gas volumetric exposure at the reporting date; accordingly, there would be no impact from a reasonably possible increase or decrease in these commodity prices. The impacts of reasonably possible changes in commodity prices on profit after taxation based on the rationale described are as follows:
2026 2025
Impact on Impact on
profit and profit and
equity equity
Incremental profit/(loss) \u00a3m \u00a3m
Commodity prices combined \u2013 increase
(645.2)
(287.1)
Commodity prices combined \u2013 decrease
487.4
212.6
The sensitivity analysis provided is hypothetical and is based on the exposure to energy-related commodities, and their corresponding valuation under IFRS 9, that the Group has at each year end. This analysis should be used with caution as the impacts disclosed are not necessarily indicative of the actual impacts that would be experienced given it does not consider all interrelationships, consequences and effects of such a change in those prices. A6.5 Currency risk The Group presents its consolidated financial statements in pounds Sterling. The Group is exposed to foreign currency risk arising from transactions denominated in currencies other than Sterling and from its net investments in foreign operations. As a result, it is subject to foreign currency exchange risk arising from exchange rate movements which will be reflected in the Group\u2019s transaction costs or in the underlying foreign currency assets of its foreign operations. The Group\u2019s policy is to use forward contracts, swaps and options to manage its exposures to foreign exchange risk. All such exposures are transactional in nature, and relate primarily to procurement contracts, commodity purchasing and related freight requirements, commodity hedging, long term plant servicing and maintenance agreements and the purchase and sale of carbon emission certificates. The policy is to seek to hedge 100% of its currency requirements arising under all committed contracts excepting commodity hedge transactions, the requirements for which are significantly less predictable. The policy for these latter transactions is to assess the Group\u2019s requirements on a rolling basis and to enter into cover contracts as appropriate. The Group has foreign operations with significant Euro-denominated and JPY-denominated net assets. The Group\u2019s policy is to hedge its net investment in its foreign operations by ensuring the net assets whose functional currency cash flows are denominated in foreign currencies are matched by borrowings in the same currency. For SSE Pacifico, whose functional currency is JPY but which presently has limited capital commitments, SSE has no JPY denominated borrowings and hence has no current net investment hedge. For the acquired net assets whose functional cash flows are in Sterling, the Group will ensure Sterling denominated borrowings are in place to minimise currency risk. Significant exposures are reported to, and discussed by, the Tax and Treasury Committee on an ongoing basis and additionally form part of the bi-annual Treasury report to the Audit Committee. At the balance sheet date, the total nominal value of outstanding forward foreign exchange contracts that the Group has committed to is:
2026 2025
\u00a3m \u00a3m
Forward foreign exchange contracts
8,286.1
4,086.1
The Group\u2019s exposure to foreign currency risk was as follows:
2026
2025
SEK $ \u20ac CNH CHF NOK SEK $ \u20ac CNH CHF
(million) (million) (million) (million) (million) (million) (million) (million) (million) (million) (million)
Loans and borrowings
\u2013
244.0
5,427.5
\u2013
\u2013
3,000.0
\u2013
244.0
5,200.0
\u2013
\u2013
Purchase and commodity
contract commitments
28,154.3
815.5
3,050.9
29.6
10.4
198.4
4,881.7
33.8
1,743.7
\u2013
10.4
Gross exposure
28,154.3
1,059.5
8,478.4
29.6
10.4
3,198.4
4,881.7
277.8
6,943.7
\u2013
10.4
Forward exchange/swap
contracts
28,154.3
1,059.5
5,596.5
29.6
10.4
3,198.4
4,881.7
277.8
4,028.9
\u2013
10.4
Net exposure (in currency)
\u2013
\u2013
2 , 8 8 1 . 9
\u2013
\u2013
\u2013
\u2013
\u2013
2 , 9 1 4 . 8
\u2013
\u2013
Net exposure (in \u00a3m)
\u2013
\u2013
2,516.7
\u2013
\u2013
\u2013
\u2013
\u2013
2,441.6
\u2013
\u2013
This represents the net exposure to foreign currencies, reported in pounds Sterling, and arising from all Group activities. All sensitivity analysis has been prepared on the basis of the relative proportions of instruments in foreign currencies being consistent as at the balance sheet date. This includes only monetary assets and liabilities denominated in a currency other than Sterling and excludes the translation of the net assets of foreign operations but not the corresponding impact of the net investment hedge. The following sensitivity analysis is provided for monetary assets in Euro only, as the only currency with significant net exposure as at the current and prior year end, as noted above. The sensitivity analysis is indicative only and it should be noted that the Group\u2019s exposure to such market rate changes is continually changing. The calculations are based on linear extrapolations of rate changes which may not reflect the actual result which would impact upon the Group. The majority of these contracts are held to limit exposure to foreign currency movements on asset procurement contracts. A 10% change in foreign currency exchange rates would have had the following impact on profit after taxation, based on the assumptions presented above:
Equity
Income statement
At 31 March At 31 March At 31 March At 31 March
2026 2025 2026 2025
\u00a3m \u00a3m \u00a3m \u00a3m
Euro
187.6
167.5
22.2
35.9
The impact of a decrease in rates would be an identical reduction in the annual charge. A6.6 Interest rate risk Interest rate risk arises from the Group\u2019s exposure to changes in the value of financial assets and liabilities, and to variability in future cash flows, resulting from movements in market interest rates. The Group manages this risk by maintaining a fixed interest rate profile. At each reporting period end, the Group\u2019s policy is to ensure that at least 80% of debt is fixed for the following 12 months, at least 70% is fixed for the 12 month period commencing in 12 months\u2019 time and at least 60% is fixed for the 12-month period commencing in 24 months\u2019 time, either directly through the debt instruments themselves or through the use of derivative financial instruments. Floating rate borrowings are provided by banks including the European Investment Bank (EIB) and the short term issuance on the \u20ac1.5bn commercial paper programme. Derivative instruments used to manage interest rate risk include interest rate swaps and options, forward rate agreements and, where debt is raised in currencies other than Sterling, cross-currency interest rate swaps. These practices serve to reduce the volatility of the Group\u2019s financial performance. Interest rate derivatives are primarily used to hedge risk relating to existing borrowings; in certain circumstances, derivatives may also be used to hedge forecast borrowings. Any such pre-hedging is unwound at the time of pricing the underlying debt, either through cash settlement on a net present value basis or by transacting offsetting trades. Floating rate borrowings mainly comprise term loans from the European Investment Bank (EIB), and other relationship banks as well as outstanding commercial paper issuance. At the reporting date, the Group also held a surplus cash of \u00a31,542.9m (2025: \u00a31,090.5m), which gives rise to interest rate exposure. The impact of a change in interest rates is dependent on the specific details of the financial asset or liability in question. Changes in fixed rate financial assets and liabilities, which account for the majority of cash, loans and borrowings, are not measured at fair value through the income statement and are therefore not sensitive to interest rate movements in the profit or loss. Changes in variable rate assets and liabilities, including those arising from floating rate working capital arrangements and forecast interest cash flows, are managed through the use of derivative financial instruments, including fixed-to-floating cross-currency interest rate swaps. Where fair value hedge accounting is applied, changes in the fair value of both the hedged items and the hedging instruments that are attributable to interest rate risk are recognised in the income statement. Where cash flow hedging accounting is applied, the effective portion of movements in the hedging instruments is initially recognised in other comprehensive income and subsequently reclassified to the income statement as the hedged cash flows affect profit or loss. Accordingly, the interest rate exposure reflects the Group\u2019s variable rate debt, forecast interest cash flows and related derivative instruments, rather than its fixed rate instruments. The net exposure to interest rates at the balance sheet date can be summarised thus:
2026 2025
Carrying Carrying
amount amount
\u00a3m \u00a3m
Interest bearing/earning assets and liabilities:
fixed
(9,424.5)
(9,901.8)
floating
913.8
349.1
(8,510.7)
(9,552.7)
Represented by:
Cash and cash equivalents
1,542.9
1,090.5
Derivative financial assets/(liabilities)
67.6
(38.8)
Loans and borrowings
(9,664.5)
(10,149.4)
Lease liabilities
(456.7)
(455.0)
(8,510.7)
(9,552.7)
The table below illustrates the expected impact on the income statement of a change of 100 basis points parallel shift in short term interest rates at the reporting date. The analysis assumes that the interest rate change occurs at the balance sheet date and all other variables remain constant. The sensitivity is calculated based on the Group\u2019s interest rate risk exposures outstanding at the balance sheet date, reflecting the proportion of fixed to floating instruments at that date, and is stated after the effect of taxation. The analysis incorporates the impact of derivative instruments designated in hedge accounting relationships, where applicable. The sensitivity analysis is indicative only. The Group\u2019s exposure to interest rate movements changes over time as the level and mix of debt and derivative instruments vary, and year-end balances are not necessarily representative of average exposures during that period. The calculation is based on linear extrapolations of interest rate movements and may not reflect the actual impact on the Group\u2019s results.
2026 2025
\u00a3m \u00a3m
Income statement
4.7
5.6
A decrease in interest rates of an equal magnitude would result in a corresponding reduction in the annual charge. There is no impact on equity as the analysis relates to the Group\u2019s net exposure at the balance sheet date.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-745": { "value": "Sensitivity analysis The Group\u2019s exposure to commodity price risk according to IFRS 7 is measured by reference to the Group\u2019s IFRS 9 commodity contracts. IFRS 7 requires disclosure of a sensitivity analysis for market risks that is intended to illustrate the sensitivity of the Group\u2019s financial position and performance to changes in market variables impacting upon the fair value or cash flows associated with the Group\u2019s financial instruments. Therefore, the sensitivity analysis provided discloses the effect on profit or loss and equity at the balance sheet date assuming that a reasonably possible change in the relevant commodity price had occurred and been applied to the risk exposures in existence at that date. The reasonably possible changes in commodity prices used in the sensitivity analysis were determined based on calculated or implied volatilities where available, or historical data. The sensitivity analysis has been calculated on the basis that the proportion of commodity contracts that are IFRS 9 financial instruments remains consistent with those at that point. Excluded from this analysis are all commodity contracts that are not financial instruments under IFRS 9.
2026
2025
Reasonably Reasonably
possible possible
increase/ increase/
decrease in decrease in
Base Price
(i)
variable
Base Price(i)
variable
Commodity prices
UK gas (p/therm)
92
+62/-47
89
+50/\u201340
EU gas (\u20ac/MWh)
(ii)
\u2013
\u2013
34
+19/\u201315
UK power (\u00a3/MWh)
101
+94/-70
88
+39/\u201334
UK carbon (\u00a3/tonne)
43
+27/-21
45
+23/\u201319
EU carbon (\u20ac/tonne)
79
+37/-30
71
+40/\u201332
IRL power (\u20ac/MWh)
141
+65/-51
123
+59/\u201348
EU power (\u20ac/MWh)
(ii)
\u2013
\u2013
31
+11/\u201310
(i) The base price represents the weighted average forward market price over the duration of the active market curve used to calculate the sensitivity analysis. The reasonably possible increase/decrease in market prices has been determined via SSE Energy Markets price model simulations and the volatility assumptions of the model have been calibrated from a look-back analysis over the previous 12 month period. (ii) A price sensitivity is not presented for EU power or EU gas as the Group had no EU power volumetric exposure and a net nil EU gas volumetric exposure at the reporting date; accordingly, there would be no impact from a reasonably possible increase or decrease in these commodity prices. The impacts of reasonably possible changes in commodity prices on profit after taxation based on the rationale described are as follows:
2026 2025
Impact on Impact on
profit and profit and
equity equity
Incremental profit/(loss) \u00a3m \u00a3m
Commodity prices combined \u2013 increase
(645.2)
(287.1)
Commodity prices combined \u2013 decrease
487.4
212.6
The sensitivity analysis provided is hypothetical and is based on the exposure to energy-related commodities, and their corresponding valuation under IFRS 9, that the Group has at each year end. This analysis should be used with caution as the impacts disclosed are not necessarily indicative of the actual impacts that would be experienced given it does not consider all interrelationships, consequences and effects of such a change in those prices. ", "dimensions": { "concept": "ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-746": { "value": "A7. Fair value of financial instruments A7.1 Fair value of financial instruments within the Group The fair values of the primary financial assets and liabilities of the Group together with their carrying values are as follows:
2026
2026
2026
2026
2025
2025
2025
2025
FVTPL/ Total carrying Amortised FVTPL/ Total carrying
Amortised cost
(i)
FVTOCI
(ii)
value Fair value
cost
(i)
FVTOCI
(ii)
value Fair value
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Current
Trade receivables
1,370.2
\u2013
1,370.2
1,370.2
1,480.2
\u2013
1,480.2
1,480.2
Other receivables
6.8
\u2013
6.8
6.8
6.6
\u2013
6.6
6.6
Cash collateral and
other deposits
25.3
\u2013
25.3
25.3
19.2
\u2013
19.2
19.2
Cash and cash equivalents
1,542.9
\u2013
1,542.9
1,542.9
1,090.5
\u2013
1,090.5
1,090.5
Derivative financial assets
\u2013
651.4
651.4
651.4
\u2013
178.4
178.4
178.4
2,945.2
651.4
3,596.6
3,596.6
2,596.5
178.4
2,774.9
2,774.9
Non-current
Unquoted equity
investments
\u2013
7.6
7.6
7.6
\u2013
8.8
8.8
8.8
Loan note receivable
220.0
\u2013
220.0
220.0
193.5
\u2013
193.5
193.5
Loans to associates and
jointly controlled entities
1,621.2
\u2013
1,621.2
1,621.2
1,510.3
\u2013
1,510.3
1,510.3
Derivative financial assets
\u2013
193.9
193.9
193.9
\u2013
63.5
63.5
63.5
1,841.2
201.5
2,042.7
2,042.7
1,703.8
72.3
1,776.1
1,776.1
4,786.4
852.9
5,639.3
5,639.3
4,300.3
250.7
4,551.0
4,551.0
Financial liabilities
Current
Trade payables
(898.7)
\u2013
(898.7)
(898.7)
(710.7)
\u2013
(710.7)
(710.7)
Outstanding liquid funds
(271.3)
\u2013
(271.3)
(271.3)
(82.5)
\u2013
(82.5)
(82.5)
Loans and borrowings
(iii)
(1,112.1)
(12.5)
(1,124.6)
(1,123.7)
(1,924.3)
28.8
(1,895.5)
(1,937.0)
Lease liabilities
(79.8)
\u2013
(79.8)
(79.8)
(68.5)
\u2013
(68.5)
(68.5)
Financial guarantee
liabilities
\u2013
(2.4)
(2.4)
(2.4)
\u2013
(2.4)
(2.4)
(2.4)
Derivative financial
liabilities
\u2013
(641.1)
(641.1)
(641.1)
\u2013
(126.3)
(126.3)
(126.3)
(2,361.9)
(656.0)
(3,017.9)
(3,017.0)
(2,786.0)
(99.9)
(2,885.9)
(2,927.4)
Non-current
Loans and borrowings
(iii)
(8,536.7)
(3.2)
(8,539.9)
(8,133.3)
(8,313.7)
59.8
(8,253.9)
(7,960.4)
Lease liabilities
(376.9)
\u2013
(376.9)
(376.9)
(386.5)
\u2013
(386.5)
(386.5)
Financial guarantee
liabilities
\u2013
(19.0)
(19.0)
(19.0)
\u2013
(23.1)
(23.1)
(23.1)
Derivative financial
liabilities
\u2013
(289.2)
(289.2)
(289.2)
\u2013
(167.7)
(167.7)
(167.7)
(8,913.6)
(311.4)
(9,225.0)
(8,818.4)
(8,700.2)
(131.0)
(8,831.2)
(8,537.7)
(11,275.5)
(967.4)
(12,242.9)
(11,835.4)
(11,486.2)
(230.9)
(11,717.1)
(11,465.1)
Net financial liabilities
(6,489.1)
(114.5)
(6,603.6)
(6,196.1)
(7,185.9)
19.8
(7,166.1)
(6,914.1)
(i) Financial assets and liabilities that are measured at amortised cost. (ii) Financial assets and liabilities that are measured at either Fair Value through Profit and Loss (Derivative Financial Assets and Liabilities) or Fair Value through other comprehensive income (Unquoted Equity Investments) (iii) The fair value through profit or loss attributable to loans and borrowings totalling \u00a315.7m (2025: \u00a388.6m) relates to fair value hedges that are in place against the Group\u2019s loans and borrowings. At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date.
A7.1.1 Basis of determining fair value
Certain assets and liabilities have been classified and carried at amortised cost on inception in line with IFRS 9 criteria. The carrying value
of these assets are approximately equivalent to fair value due to short term maturity aside from loans and borrowings which are subject to
longer maturity dates.
All other financial assets and liabilities are measured at either Fair Value through Profit and Loss (\u201cFVTPL\u201d) or Fair Value through Other
Comprehensive Income (\u201cFVTOCI\u201d). Fair values for energy derivatives are based on unadjusted quoted market prices, where actively traded. For
energy derivatives that are not actively traded, interest rate instruments, foreign currency hedge contracts and cross currency swap contracts
associated with foreign currency denominated long term fixed rate debt, the fair values are determined by reference to closing rate market
prices for similar instruments. Fair values for unquoted equity instruments are derived from venture capital or growth equity firm valuation
statements. Fair values for financial guarantee contracts are equal to the premium or fee received/charged.
The fair values are stated at a specific date and may be different from the amounts which will actually be paid or received on settlement of the
instruments. The fair value of items such as property, plant and equipment, internally generated brands or the Group\u2019s customer base are not
included as these are not considered financial instruments.
A7.2 Fair value hierarchy
The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into
Levels 1 to 3 based on the degree to which the fair value is observable.
\u2013 Level 1 fair value measurements are those derived from unadjusted quoted market prices for identical assets or liabilities.
\u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
\u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on
observable market data.
2026
2025
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Energy derivatives
460.3
213.1
11.6
685.0
71.5
80.9
5.8
158.2
Interest rate derivatives
\u2013
116.8
\u2013
116.8
\u2013
6 8 . 9
\u2013
6 8 . 9
Foreign exchange derivatives
\u2013
4 3 . 5
\u2013
4 3 . 5
\u2013
1 4 . 8
\u2013
1 4 . 8
Unquoted equity investments
\u2013
\u2013
7 . 6
7 . 6
\u2013
\u2013
8 . 8
8 . 8
460.3
373.4
19.2
852.9
71.5
164.6
14.6
250.7
Financial liabilities
Energy derivatives
\u2013
( 7 8 7 . 8 )
( 5 6 . 1 )
( 8 4 3 . 9 )
\u2013
(80.8)
(81.3)
(162.1)
Interest rate derivatives
\u2013
(49.2)
\u2013
(49.2)
\u2013
(107.8)
\u2013
(107.8)
Foreign exchange derivatives
\u2013
(37.2)
\u2013
(37.2)
\u2013
( 2 4 . 1 )
\u2013
( 2 4 . 1 )
Loans and borrowings
*
\u2013
( 1 5 . 7 )
\u2013
( 1 5 . 7 )
\u2013
88.6
\u2013
88.6
\u2013
(889.9)
(56.1)
(946.0)
\u2013
(124.1)
(81.3)
(205.4)
* At 31 March 2025, the \u00a388.6m relates to fair value hedges that are in place against the Group\u2019s loans and borrowings and has been included in the table above within financial liabilities, as it
is presented in loans and borrowings liabilities in the balance sheet.
The table above excludes financial guarantee liabilities measured in accordance with IFRS 17. There were no significant transfers out of Level 1
into Level 2 and out of Level 2 into Level 1 during the current and prior year. There were no significant transfers out of Level 2 into Level 3 or out
of Level 3 into Level 2 during the current and prior year.
The Group has an Affiliate Contract for Difference (\u201cACfD\u201d) agreement with Seagreen Wind Energy Limited (\u201cSWEL\u201d) with a 5 year term. SWEL is a
wholly owned subsidiary of Seagreen Holdco 1 Limited, a joint venture between the Group (49%) and TotalEnergies (25.5%) and PTT Exploration
& Production Public Company Limited (PTTEPP) (25.5%) and TOTAL SE has an equivalent ACfD with SWEL. The Group also has some smaller
commercial CfD arrangements with non-government third parties that are also classified as derivatives. The ACfD and the commercial CfDs
meet the definition of financial instruments and are classified as Level 3 on the fair value hierarchy due to significant unobservable inputs in the
determination of fair value.
The fair value measurement impact in the income statement attributable to Level 3 CfDs was a gain of \u00a330.0m (2025: \u00a323.9m gain). The fair
value was determined using the income approach with reference to future market prices which are beyond the liquid period in the
forward market.
The non-government CfDs were issued for \u00a3nil consideration, being the deemed transaction price. The Group has calculated that the contracts
had a fair value on day 1, being the difference between the strike price per the contract and the forward market spot price. This valuation is
based on unobservable inputs and is considered judgemental. Key assumptions applied when deriving the fair value are related to discount
rates; electricity volumes; and electricity prices. In line with IFRS 9, the day 1 gain is deferred and will be recognised over the life of the contract.
The following table represents the difference between the Level 3 financial instruments at fair value at the start of the reporting period and at the reporting date:
2026 2025
\u00a3m \u00a3m
Level 3 financial instrument fair value at 1 April
(66.7)
(97.6)
Additions
(3.4)
3.4
Transfer from financial assets
\u2013
4.6
Disposals in year
(2.9)
(0.1)
Cash settlement
(28.6)
(38.5)
Re-measurement gain recognised in income statement
37.4
5.2
Re-measurement loss recognised in other comprehensive income
0.1
(0.8)
Additions \u2013 new instruments entered in the year
(10.3)
342.3
Deferred day 1 gains on instruments entered in the year
10.3
(342.3)
Instruments derecognised in the year
\u2013
(342.0)
Deferred day 1 gains derecognised in the year
\u2013
370.7
Amortisation of day 1 gains in the year
27.2
28.4
Level 3 financial instrument fair value at 31 March
(36.9)
(66.7)
The following table details the valuation technique, significant unobservable inputs and the range of values for the energy derivatives measured at fair value on a recurring basis and classified as Level 3.
Carrying value (net) Significant unobservable Market price range (min-
\u00a3m
Valuation technique
input max) \u00a3/MwH
Electricity prices,
31 March 2026
45.5
Discounted cash flow
Generation volumes 49 \u2013 100
Electricity prices,
31 March 2025
75.5
Discounted cash flow
Generation volumes 49 \u2013 99
Deferred measurement differences
2026 2025
\u00a3m \u00a3m
Deferred measurement difference at 1 April
356.7
413.5
Deferred measurement difference adjustment in the year
(5.0)
\u2013
Deferred measurement difference arising during the year on new instruments
(10.3)
342.3
Deferred measurement differences derecognised in the year
\u2013
(370.7)
Deferred measurement difference recognised during the year
(27.2)
(28.4)
Deferred measurement difference at 31 March
314.2
356.7
The following table shows the impact on the fair value of the Level 3 energy derivatives when applying reasonably possible alternative assumptions to the valuation obtained using the discounted cash flow model.
At 31 March 2026
At 31 March 2025
Effect on fair Effect on fair
value of deferred value of deferred
Increase/ measurement Increase/ measurement
decrease in differences decrease in differences
Assumption assumption \u00a3m assumption \u00a3m
Discount rate
+1%/-1%
(10.6)/11.5
+1%/-1%
(12.8)/13.9
Volumes
+10%/-10%
28.4/(28.4)
+10%/-10%
26.5/(28.7)
Prices
+10%/-10%
115.1/(115.1)
+10%/-10%
87.5/(87.5)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-721": { "value": "A7. Fair value of financial instruments A7.1 Fair value of financial instruments within the Group The fair values of the primary financial assets and liabilities of the Group together with their carrying values are as follows:
2026
2026
2026
2026
2025
2025
2025
2025
FVTPL/ Total carrying Amortised FVTPL/ Total carrying
Amortised cost
(i)
FVTOCI
(ii)
value Fair value
cost
(i)
FVTOCI
(ii)
value Fair value
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Current
Trade receivables
1,370.2
\u2013
1,370.2
1,370.2
1,480.2
\u2013
1,480.2
1,480.2
Other receivables
6.8
\u2013
6.8
6.8
6.6
\u2013
6.6
6.6
Cash collateral and
other deposits
25.3
\u2013
25.3
25.3
19.2
\u2013
19.2
19.2
Cash and cash equivalents
1,542.9
\u2013
1,542.9
1,542.9
1,090.5
\u2013
1,090.5
1,090.5
Derivative financial assets
\u2013
651.4
651.4
651.4
\u2013
178.4
178.4
178.4
2,945.2
651.4
3,596.6
3,596.6
2,596.5
178.4
2,774.9
2,774.9
Non-current
Unquoted equity
investments
\u2013
7.6
7.6
7.6
\u2013
8.8
8.8
8.8
Loan note receivable
220.0
\u2013
220.0
220.0
193.5
\u2013
193.5
193.5
Loans to associates and
jointly controlled entities
1,621.2
\u2013
1,621.2
1,621.2
1,510.3
\u2013
1,510.3
1,510.3
Derivative financial assets
\u2013
193.9
193.9
193.9
\u2013
63.5
63.5
63.5
1,841.2
201.5
2,042.7
2,042.7
1,703.8
72.3
1,776.1
1,776.1
4,786.4
852.9
5,639.3
5,639.3
4,300.3
250.7
4,551.0
4,551.0
Financial liabilities
Current
Trade payables
(898.7)
\u2013
(898.7)
(898.7)
(710.7)
\u2013
(710.7)
(710.7)
Outstanding liquid funds
(271.3)
\u2013
(271.3)
(271.3)
(82.5)
\u2013
(82.5)
(82.5)
Loans and borrowings
(iii)
(1,112.1)
(12.5)
(1,124.6)
(1,123.7)
(1,924.3)
28.8
(1,895.5)
(1,937.0)
Lease liabilities
(79.8)
\u2013
(79.8)
(79.8)
(68.5)
\u2013
(68.5)
(68.5)
Financial guarantee
liabilities
\u2013
(2.4)
(2.4)
(2.4)
\u2013
(2.4)
(2.4)
(2.4)
Derivative financial
liabilities
\u2013
(641.1)
(641.1)
(641.1)
\u2013
(126.3)
(126.3)
(126.3)
(2,361.9)
(656.0)
(3,017.9)
(3,017.0)
(2,786.0)
(99.9)
(2,885.9)
(2,927.4)
Non-current
Loans and borrowings
(iii)
(8,536.7)
(3.2)
(8,539.9)
(8,133.3)
(8,313.7)
59.8
(8,253.9)
(7,960.4)
Lease liabilities
(376.9)
\u2013
(376.9)
(376.9)
(386.5)
\u2013
(386.5)
(386.5)
Financial guarantee
liabilities
\u2013
(19.0)
(19.0)
(19.0)
\u2013
(23.1)
(23.1)
(23.1)
Derivative financial
liabilities
\u2013
(289.2)
(289.2)
(289.2)
\u2013
(167.7)
(167.7)
(167.7)
(8,913.6)
(311.4)
(9,225.0)
(8,818.4)
(8,700.2)
(131.0)
(8,831.2)
(8,537.7)
(11,275.5)
(967.4)
(12,242.9)
(11,835.4)
(11,486.2)
(230.9)
(11,717.1)
(11,465.1)
Net financial liabilities
(6,489.1)
(114.5)
(6,603.6)
(6,196.1)
(7,185.9)
19.8
(7,166.1)
(6,914.1)
(i) Financial assets and liabilities that are measured at amortised cost. (ii) Financial assets and liabilities that are measured at either Fair Value through Profit and Loss (Derivative Financial Assets and Liabilities) or Fair Value through other comprehensive income (Unquoted Equity Investments) (iii) The fair value through profit or loss attributable to loans and borrowings totalling \u00a315.7m (2025: \u00a388.6m) relates to fair value hedges that are in place against the Group\u2019s loans and borrowings. At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date. A7.1.1 Basis of determining fair value Certain assets and liabilities have been classified and carried at amortised cost on inception in line with IFRS 9 criteria. The carrying value of these assets are approximately equivalent to fair value due to short term maturity aside from loans and borrowings which are subject to longer maturity dates. All other financial assets and liabilities are measured at either Fair Value through Profit and Loss (\u201cFVTPL\u201d) or Fair Value through Other Comprehensive Income (\u201cFVTOCI\u201d). Fair values for energy derivatives are based on unadjusted quoted market prices, where actively traded. For energy derivatives that are not actively traded, interest rate instruments, foreign currency hedge contracts and cross currency swap contracts associated with foreign currency denominated long term fixed rate debt, the fair values are determined by reference to closing rate market prices for similar instruments. Fair values for unquoted equity instruments are derived from venture capital or growth equity firm valuation statements. Fair values for financial guarantee contracts are equal to the premium or fee received/charged. The fair values are stated at a specific date and may be different from the amounts which will actually be paid or received on settlement of the instruments. The fair value of items such as property, plant and equipment, internally generated brands or the Group\u2019s customer base are not included as these are not considered financial instruments. A7.2 Fair value hierarchy The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable. \u2013 Level 1 fair value measurements are those derived from unadjusted quoted market prices for identical assets or liabilities. \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data.
2026
2025
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Energy derivatives
460.3
213.1
11.6
685.0
71.5
80.9
5.8
158.2
Interest rate derivatives
\u2013
116.8
\u2013
116.8
\u2013
6 8 . 9
\u2013
6 8 . 9
Foreign exchange derivatives
\u2013
4 3 . 5
\u2013
4 3 . 5
\u2013
1 4 . 8
\u2013
1 4 . 8
Unquoted equity investments
\u2013
\u2013
7 . 6
7 . 6
\u2013
\u2013
8 . 8
8 . 8
460.3
373.4
19.2
852.9
71.5
164.6
14.6
250.7
Financial liabilities
Energy derivatives
\u2013
( 7 8 7 . 8 )
( 5 6 . 1 )
( 8 4 3 . 9 )
\u2013
(80.8)
(81.3)
(162.1)
Interest rate derivatives
\u2013
(49.2)
\u2013
(49.2)
\u2013
(107.8)
\u2013
(107.8)
Foreign exchange derivatives
\u2013
(37.2)
\u2013
(37.2)
\u2013
( 2 4 . 1 )
\u2013
( 2 4 . 1 )
Loans and borrowings
*
\u2013
( 1 5 . 7 )
\u2013
( 1 5 . 7 )
\u2013
88.6
\u2013
88.6
\u2013
(889.9)
(56.1)
(946.0)
\u2013
(124.1)
(81.3)
(205.4)
* At 31 March 2025, the \u00a388.6m relates to fair value hedges that are in place against the Group\u2019s loans and borrowings and has been included in the table above within financial liabilities, as it is presented in loans and borrowings liabilities in the balance sheet. The table above excludes financial guarantee liabilities measured in accordance with IFRS 17. There were no significant transfers out of Level 1 into Level 2 and out of Level 2 into Level 1 during the current and prior year. There were no significant transfers out of Level 2 into Level 3 or out of Level 3 into Level 2 during the current and prior year. The Group has an Affiliate Contract for Difference (\u201cACfD\u201d) agreement with Seagreen Wind Energy Limited (\u201cSWEL\u201d) with a 5 year term. SWEL is a wholly owned subsidiary of Seagreen Holdco 1 Limited, a joint venture between the Group (49%) and TotalEnergies (25.5%) and PTT Exploration & Production Public Company Limited (PTTEPP) (25.5%) and TOTAL SE has an equivalent ACfD with SWEL. The Group also has some smaller commercial CfD arrangements with non-government third parties that are also classified as derivatives. The ACfD and the commercial CfDs meet the definition of financial instruments and are classified as Level 3 on the fair value hierarchy due to significant unobservable inputs in the determination of fair value. The fair value measurement impact in the income statement attributable to Level 3 CfDs was a gain of \u00a330.0m (2025: \u00a323.9m gain). The fair value was determined using the income approach with reference to future market prices which are beyond the liquid period in the forward market. The non-government CfDs were issued for \u00a3nil consideration, being the deemed transaction price. The Group has calculated that the contracts had a fair value on day 1, being the difference between the strike price per the contract and the forward market spot price. This valuation is based on unobservable inputs and is considered judgemental. Key assumptions applied when deriving the fair value are related to discount rates; electricity volumes; and electricity prices. In line with IFRS 9, the day 1 gain is deferred and will be recognised over the life of the contract. The following table represents the difference between the Level 3 financial instruments at fair value at the start of the reporting period and at the reporting date:
2026 2025
\u00a3m \u00a3m
Level 3 financial instrument fair value at 1 April
(66.7)
(97.6)
Additions
(3.4)
3.4
Transfer from financial assets
\u2013
4.6
Disposals in year
(2.9)
(0.1)
Cash settlement
(28.6)
(38.5)
Re-measurement gain recognised in income statement
37.4
5.2
Re-measurement loss recognised in other comprehensive income
0.1
(0.8)
Additions \u2013 new instruments entered in the year
(10.3)
342.3
Deferred day 1 gains on instruments entered in the year
10.3
(342.3)
Instruments derecognised in the year
\u2013
(342.0)
Deferred day 1 gains derecognised in the year
\u2013
370.7
Amortisation of day 1 gains in the year
27.2
28.4
Level 3 financial instrument fair value at 31 March
(36.9)
(66.7)
The following table details the valuation technique, significant unobservable inputs and the range of values for the energy derivatives measured at fair value on a recurring basis and classified as Level 3.
Carrying value (net) Significant unobservable Market price range (min-
\u00a3m
Valuation technique
input max) \u00a3/MwH
Electricity prices,
31 March 2026
45.5
Discounted cash flow
Generation volumes 49 \u2013 100
Electricity prices,
31 March 2025
75.5
Discounted cash flow
Generation volumes 49 \u2013 99
Deferred measurement differences
2026 2025
\u00a3m \u00a3m
Deferred measurement difference at 1 April
356.7
413.5
Deferred measurement difference adjustment in the year
(5.0)
\u2013
Deferred measurement difference arising during the year on new instruments
(10.3)
342.3
Deferred measurement differences derecognised in the year
\u2013
(370.7)
Deferred measurement difference recognised during the year
(27.2)
(28.4)
Deferred measurement difference at 31 March
314.2
356.7
The following table shows the impact on the fair value of the Level 3 energy derivatives when applying reasonably possible alternative assumptions to the valuation obtained using the discounted cash flow model.
At 31 March 2026
At 31 March 2025
Effect on fair Effect on fair
value of deferred value of deferred
Increase/ measurement Increase/ measurement
decrease in differences decrease in differences
Assumption assumption \u00a3m assumption \u00a3m
Discount rate
+1%/-1%
(10.6)/11.5
+1%/-1%
(12.8)/13.9
Volumes
+10%/-10%
28.4/(28.4)
+10%/-10%
26.5/(28.7)
Prices
+10%/-10%
115.1/(115.1)
+10%/-10%
87.5/(87.5)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-764": { "value": "A7.1 Fair value of financial instruments within the Group The fair values of the primary financial assets and liabilities of the Group together with their carrying values are as follows:
2026
2026
2026
2026
2025
2025
2025
2025
FVTPL/ Total carrying Amortised FVTPL/ Total carrying
Amortised cost
(i)
FVTOCI
(ii)
value Fair value
cost
(i)
FVTOCI
(ii)
value Fair value
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Current
Trade receivables
1,370.2
\u2013
1,370.2
1,370.2
1,480.2
\u2013
1,480.2
1,480.2
Other receivables
6.8
\u2013
6.8
6.8
6.6
\u2013
6.6
6.6
Cash collateral and
other deposits
25.3
\u2013
25.3
25.3
19.2
\u2013
19.2
19.2
Cash and cash equivalents
1,542.9
\u2013
1,542.9
1,542.9
1,090.5
\u2013
1,090.5
1,090.5
Derivative financial assets
\u2013
651.4
651.4
651.4
\u2013
178.4
178.4
178.4
2,945.2
651.4
3,596.6
3,596.6
2,596.5
178.4
2,774.9
2,774.9
Non-current
Unquoted equity
investments
\u2013
7.6
7.6
7.6
\u2013
8.8
8.8
8.8
Loan note receivable
220.0
\u2013
220.0
220.0
193.5
\u2013
193.5
193.5
Loans to associates and
jointly controlled entities
1,621.2
\u2013
1,621.2
1,621.2
1,510.3
\u2013
1,510.3
1,510.3
Derivative financial assets
\u2013
193.9
193.9
193.9
\u2013
63.5
63.5
63.5
1,841.2
201.5
2,042.7
2,042.7
1,703.8
72.3
1,776.1
1,776.1
4,786.4
852.9
5,639.3
5,639.3
4,300.3
250.7
4,551.0
4,551.0
Financial liabilities
Current
Trade payables
(898.7)
\u2013
(898.7)
(898.7)
(710.7)
\u2013
(710.7)
(710.7)
Outstanding liquid funds
(271.3)
\u2013
(271.3)
(271.3)
(82.5)
\u2013
(82.5)
(82.5)
Loans and borrowings
(iii)
(1,112.1)
(12.5)
(1,124.6)
(1,123.7)
(1,924.3)
28.8
(1,895.5)
(1,937.0)
Lease liabilities
(79.8)
\u2013
(79.8)
(79.8)
(68.5)
\u2013
(68.5)
(68.5)
Financial guarantee
liabilities
\u2013
(2.4)
(2.4)
(2.4)
\u2013
(2.4)
(2.4)
(2.4)
Derivative financial
liabilities
\u2013
(641.1)
(641.1)
(641.1)
\u2013
(126.3)
(126.3)
(126.3)
(2,361.9)
(656.0)
(3,017.9)
(3,017.0)
(2,786.0)
(99.9)
(2,885.9)
(2,927.4)
Non-current
Loans and borrowings
(iii)
(8,536.7)
(3.2)
(8,539.9)
(8,133.3)
(8,313.7)
59.8
(8,253.9)
(7,960.4)
Lease liabilities
(376.9)
\u2013
(376.9)
(376.9)
(386.5)
\u2013
(386.5)
(386.5)
Financial guarantee
liabilities
\u2013
(19.0)
(19.0)
(19.0)
\u2013
(23.1)
(23.1)
(23.1)
Derivative financial
liabilities
\u2013
(289.2)
(289.2)
(289.2)
\u2013
(167.7)
(167.7)
(167.7)
(8,913.6)
(311.4)
(9,225.0)
(8,818.4)
(8,700.2)
(131.0)
(8,831.2)
(8,537.7)
(11,275.5)
(967.4)
(12,242.9)
(11,835.4)
(11,486.2)
(230.9)
(11,717.1)
(11,465.1)
Net financial liabilities
(6,489.1)
(114.5)
(6,603.6)
(6,196.1)
(7,185.9)
19.8
(7,166.1)
(6,914.1)
(i) Financial assets and liabilities that are measured at amortised cost. (ii) Financial assets and liabilities that are measured at either Fair Value through Profit and Loss (Derivative Financial Assets and Liabilities) or Fair Value through other comprehensive income (Unquoted Equity Investments) (iii) The fair value through profit or loss attributable to loans and borrowings totalling \u00a315.7m (2025: \u00a388.6m) relates to fair value hedges that are in place against the Group\u2019s loans and borrowings. At 31 March 2026, Scottish Hydro Electric Transmission plc had no drawings under its revolving credit facility (2025: \u00a3340.0m). The \u00a3340.0m drawn at 31 March 2025 was classified as non-current within debt maturing in two to five years in accordance with IAS 1 paragraph 75A. The debt was repaid in April 2025, subsequent to the balance sheet date. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-747": { "value": "A8. Hedge accounting A8.1 Cash flow hedges The Group designates qualifying derivative contracts as either as cash flow hedges or fair value hedges for hedge accounting purposes. Cash flow hedges are used to hedge exposures to variability in cash flows from forecast transactions, primarily arising from changes in interest rates or foreign currency exchange rates. The Group\u2019s accounting policy on hedge accounting is set out in the Accompanying Information section A1 . Following adoption of IFRS 9 on 1 April 2019, the Group elected to continue to apply IAS 39 for hedge accounting. The Group will adopt the hedge accounting requirements of IFRS 9 from 1 April 2026 to align its hedge accounting more closely with the Group\u2019s risk management objectives. The impact of adoption is disclosed in note 2.2 . The following table indicates the contractual maturity profile of forecast transactions and the associated qualifying cash flow hedging instruments. Non-Sterling denominated contractual cash flows have been translated using the relevant forward foreign exchange rates.
2026
2026
2026
2026
2026
2026
2025
2025
2025
2025
2025
2025
Carrying Expected 0 \u2013 12 Carrying Expected 0 \u2013 12
amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years amount cash flows months 1 \u2013 2 years 2 \u2013 5 years > 5 years
Cash \ufb02ow hedges \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Interest rate swaps:
Assets
33.6
34.8
7.1
20.5
(13.8)
21.0
15.4
16.5
5.9
5.3
5.3
\u2013
Liabilities
(2.9)
(3.0)
\u2013
(0.4)
(14.3)
11.7
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
30.7
31.8
7.1
20.1
(28.1)
32.7
15.4
16.5
5.9
5.3
5.3
\u2013
Cross currency swaps:
Assets
62.2
85.9
16.2
(37.4)
(17.1)
124.2
32.7
48.5
7.9
7.2
(46.1)
79.5
Liabilities
(26.7)
(19.6)
(22.5)
(22.2)
(34.1)
59.2
(74.2)
(75.4)
(43.2)
(13.4)
(37.1)
18.3
35.5
66.3
(6.3)
(59.6)
(51.2)
183.4
(41.5)
(26.9)
(35.3)
(6.2)
(83.2)
97.8
Forward foreign exchange contracts:
Assets
41.9
3,011.6
435.9
1,913.4
642.9
19.4
9.6
584.8
292.9
133.5
158.4
\u2013
Liabilities
(34.6)
2,410.9
447.5
780.3
1,183.1
\u2013
(19.7)
861.1
234.8
182.2
444.1
\u2013
7.3
5,422.5
883.4
2,693.7
1,826.0
19.4
(10.1)
1,445.9
527.7
315.7
602.5
\u2013
A8.2 Net investment hedge The Group\u2019s net investment hedge consists of debt issued in the same currency (\u20ac) as the net investment in foreign subsidiaries with \u20ac denominated functional currencies being the Airtricity Supply business within Energy Customer Solutions, the thermal plants in Ireland and wind farms in Ireland and Southern Europe. The hedge compares the element of the net assets whose functional cash flows are denominated in \u20ac to the matching portion of the \u20ac borrowings held by the Group. This therefore provides protection against movements in foreign exchange rates. There is no net investment hedge in relation to SSE Pacifico as the Group has no JPY denominated debt. Gains and losses on the hedging instruments are recognised in equity and will be transferred to the income statement on disposal of the foreign operation (2026: \u00a387.5m loss, 2025: \u00a336.0m gain). Gains and losses on the ineffective portion of the hedge relationship are recognised immediately in the income statement (2026: \u00a3nil, 2025: \u00a3nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfHedgeAccountingExplanatory", "language": "en", "entity": "scheme:549300KI75VYLLMSK856", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } } } }