SSE plc’s share price continued its powerful run on Monday, 17 November 2025, as investors digested last week’s huge “Transformation for Growth” announcement and a string of follow‑on developments.
The FTSE 100 energy group’s shares closed at 2,260p, up 33p (+1.48%) on the day, according to closing data from Hargreaves Lansdown, which confirms the market close price for 17 November. Hargreaves Lansdown SSE’s own investor site also showed the share price at 2,260p on Monday, underlining how firmly the stock is now trading near its recent highs. Sse
The latest rise comes as:
- FTSE Russell index changes linked to SSE’s recent £2bn equity placing take effect from today. Shares Magazine
- SSE applies to boost capacity at its Achany Extension onshore wind farm in the Scottish Highlands to over 80 MW, a fresh signal of growth in its renewables pipeline. Renewables Now
Below, we break down how SSE (LON: SSE) traded today, what’s driving the move, and what could matter next for the SSE share price.
SSE share price snapshot for 17 November 2025
Based on closing prices from Hargreaves Lansdown’s SSE quote page, today’s trading session looked like this: Hargreaves Lansdown
- Last close (17 November 2025): 2,260p
- Daily move: +33p (+1.48%) versus Friday’s close at 2,227p
- Intraday range:
- Open: 2,230p
- High: 2,272p
- Low: 2,223.53p
- 52‑week range: roughly 1,447.5p (low) to 2,307p (high)
- Market capitalisation: about £27.1bn
- P/E ratio: around 13.8x
- Volume today: c. 458,000 shares
Performance metrics on the same page also show just how dramatic the recent rerating has been: Hargreaves Lansdown
- 1 week: +19.2%
- 1 month: +23.2%
- 1 year: +30.2%
- 5 years: +63.5%
Separate data aggregators estimate SSE’s 2025 year‑to‑date share price performance at just under 20%, highlighting how much of that upside has arrived in the past few weeks. Companies Market Cap
In other words, today’s gain may look modest, but it sits on top of a steep rally that has already pushed SSE close to its 52‑week high.
The big backdrop: SSE’s £33bn “Transformation for Growth” plan
The main story behind SSE’s share price strength is still last week’s strategic update and half‑year results, unveiled on 12 November 2025.
A fully funded £33bn five‑year investment plan
On 12 November, SSE set out a fully funded £33bn investment plan over five years, branded “Transformation for Growth” and aimed at upgrading the UK’s electricity infrastructure and supporting economic growth. Sse
Key elements from SSE’s own announcement and supporting materials include: Sse
- Around 80% of the £33bn is earmarked for regulated electricity networks – particularly high‑voltage transmission in the north of Scotland and distribution networks in Scotland and southern England.
- The remainder goes into renewables and flexible generation, including flagship projects like the Dogger Bank offshore wind farm.
- SSE reiterated its ambition to grow its regulated asset base (RAB) sharply towards the end of the decade.
- Despite heavy investment, the company presented the plan as “fully funded”, combining:
- Around £14bn of additional debt,
- The £2bn equity raise,
- Asset disposals and operating cash flow. The Times
Coverage in the UK financial press has described the plan as a bold, “once‑in‑a‑generation” investment blueprint, noting that SSE aims to expand its regulatory asset base from roughly £13bn to about £40bn by 2030 while leaning heavily into grid infrastructure to support EVs, data centres and the wider net‑zero transition. The Times
Half‑year results: weaker profits, but strategy trumping short‑term earnings
The same day, SSE reported half‑year numbers for the six months to 30 September 2025: London South East
- Pre‑tax profit fell by roughly 24–31% year on year (depending on the measure used), with higher costs and softer renewables output weighing on earnings.
- Adjusted earnings per share (EPS) dropped from over 50p in the prior year period to around 36.1p, although management stressed this was in line with expectations and typical seasonal patterns.
- Capital expenditure is set to ramp up further, with full‑year 2025/26 capex expected to exceed £3bn, and a target net‑debt‑to‑EBITDA ratio of 3.5–4.0x before adjusting for the equity placing. Sse
The market’s reaction suggests investors are currently far more focused on long‑term infrastructure growth than on one softer profit period.
The £2bn share placing and what it means for SSE shareholders
To help fund the plan, SSE moved quickly to shore up its balance sheet with fresh equity.
An Investing.com summary of the company’s announcement confirms that on 12 November 2025 SSE: Investing.com UK
- Raised about £2bn via a non‑pre‑emptive placing, subscription and retail offer.
- Issued 97,916,637 new ordinary shares at 2,050p per share – a 3.8% premium to the previous close around 1,975p.
- Increased its share count by roughly 8.8% versus the pre‑issue base.
- Ensured the new shares rank equally with existing stock, including entitlement to the interim dividend.
A separate article from TipRanks notes that key members of SSE’s senior management, including the CEO and CFO, personally participated in the share subscription, a move framed as a signal of internal confidence in the strategy. TipRanks
At the same time, the placing and increased free float have had index consequences.
Index changes taking effect today
A regulatory update originally released on 13 November and republished by Shares Magazine confirms that, following the new share issue, FTSE Russell has updated the SSE shares‑in‑issue data, with the changes effective from the start of trading on 17 November 2025. Shares Magazine
SSE’s updated share capital is now reflected in the:
- FTSE 100 Index
- FTSE 350 Index
- FTSE All‑Share Index
- FTSE All‑Share ex Multinationals Index
- FTSE 350 Higher Yield Index
- FTSE UK Dividend+ Index
Index rebalancing of this kind can create mechanical buying and selling by passive funds and index‑tracking products. While it’s hard to put a precise number on that impact, the timing matches today’s above‑average trading volume and supports the idea that some of SSE’s 1.5% gain may be flow‑driven rather than purely fundamental.
Today’s fresh news: Achany Extension wind farm upgrade
Beyond the equity story and index moves, there was new project‑level news on 17 November that also feeds into the long‑term investment narrative.
According to a report from Renewables Now, SSE has applied to vary the consent for its Achany Extension Wind Farm in the Scottish Highlands: Renewables Now
- The company has lodged a Section 36C variation application with the Scottish government.
- The updated design would raise turbine tip heights from 149.9m to 200m.
- Planned installed capacity would increase from 77 MW to “over 80 MW”.
- Achany Extension (formerly Glencassley) is a planned 18‑turbine extension to SSE Renewables’ existing 38 MW Achany wind farm, which has been operating since 2010.
- SSE says the redesign reflects the tougher economics facing onshore wind, and that the previous layout was no longer commercially viable.
While an incremental upgrade in capacity at a single project is unlikely to move the share price on its own, it is emblematic of SSE’s broader strategy: optimising existing consented sites to squeeze out more capacity and better economics in a challenging cost environment.
SSE’s transmission arm is also pushing ahead with grid investments across the north of Scotland – for example, an update on the Western Isles HVDC link notes archaeological evaluations are scheduled from 17 November 2025, another small but tangible milestone in SSE’s vast project pipeline. SSEN Transmission
Together, these snippets reinforce the message that the £33bn plan is already translating into on‑the‑ground activity.
Analyst reaction: enthusiasm meets valuation worries
Not everyone is entirely comfortable with how far and how fast the SSE share price has run.
Citi downgrade to “Sell”
A broker note highlighted on Halifax’s market‑news page shows that Citi downgraded SSE on Friday, 14 November, cutting its rating from Neutral to Sell and trimming its price target to 1,997p. Halifax Investments
Citi’s analysts acknowledged that:
- The equity issue has “removed near‑term overhang” around the balance sheet.
- Management’s 2029/30 EPS target of 225–250p and five‑year capital allocation plan have improved visibility.
But the bank also pointed out that: Halifax Investments
- SSE’s share price has re‑rated nearly 40% over two months, including about 17% in a single day when the plan was announced.
- At current levels, the broker estimates the stock trades on about a 65% premium to its forecast 2027 regulated asset base, and an implied EV/EBITDA multiple around 10x with a sub‑3% dividend yield.
In simple terms, Citi thinks the valuation has got ahead of itself, even if the strategic story is appealing.
Mixed signals from the wider research community
The TipRanks summary of the placing notes that the most recent analyst rating collated on its platform is also a Sell, with a price target aligned around £19.97 (1,997p). However, TipRanks’ internal AI “Spark” model currently tags SSE as an “Outperform” with strong technical momentum, albeit with some caution on overbought signals. TipRanks
Meanwhile, commentary in The Times’ business section has framed new CEO Martin Pibworth as delivering “instant value” for investors by setting out a bold and fully funded plan, even as half‑year profits fell nearly 30%. The Times
Taken together, this paints a picture of a stock where:
- The strategic direction and balance sheet are getting positive marks, but
- Valuation and pace of the rally are under debate.
That tension is one reason why the SSE share price can stay volatile around newsflow – small disappointments on execution or regulation could matter more when expectations are already high.
Is the SSE share price still a buy after the rally?
From a news perspective, today’s move to 2,260p leaves SSE shares:
- Just below their 52‑week high of 2,307p. Hargreaves Lansdown
- Up over 23% in a month and more than 19% in a week, according to HL’s performance tables. Hargreaves Lansdown
- Roughly 19% higher year‑to‑date, based on separate performance data. Companies Market Cap
Investors and traders watching the SSE share price today are juggling several conflicting forces:
Supportive factors
- A clear, long‑dated growth story in networks and renewables, strongly aligned with UK decarbonisation policy. Sse
- A strengthened balance sheet following the £2bn placing. Investing.com UK
- Index changes that may bring additional passive fund demand. Shares Magazine
Offsetting risks
- Short‑term earnings pressure from weaker renewables output and rising costs, as seen in the latest half‑year numbers. London South East
- A share price that some brokers now see as expensive versus regulated asset base and sector peers. Halifax Investments
- Execution risk on an extremely ambitious capex programme, which will run through an uncertain macro and political environment. Morningstar Global
For readers, the key takeaway is that today’s 1.5% rise is part of a much bigger structural rerating, driven by policy‑backed grid and renewables investment – but one that now comes with heightened valuation sensitivity.
What to watch next for SSE’s share price
Looking beyond today’s close, several catalysts could move the SSE share price in the weeks and months ahead:
- Regulatory decisions and policy signals
- Ofgem rulings on allowed returns for transmission and distribution networks.
- UK government announcements on grid connections, offshore wind auctions, and investment incentives.
- Execution milestones on major projects
- Progress on flagship schemes such as Dogger Bank and the Western Isles HVDC link. SSEN Transmission
- Planning and consent outcomes on upgrades like the Achany Extension. Renewables Now
- Further financial updates
- Clarification on EPS guidance for 2025/26 and beyond. Sse
- Any additional asset disposals or balance‑sheet moves linked to the £33bn plan. Morningstar Global
- Macro and rates environment
- As a regulated utility with heavy capex plans, SSE stays sensitive to interest rates and bond yields, which influence the relative appeal of its dividend and its cost of funding. Reuters
Important note
This article is journalistic information and analysis only. It does not constitute investment advice or a recommendation to buy, sell or hold SSE shares or any other security. Always do your own research and, if needed, consult a regulated financial adviser before making investment decisions.
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