London, Jan 20, 2026, 08:39 GMT — Regular session.
- SSE shares fell about 2.4% in early London trade after touching a 52-week high on Monday.
- The utility on Monday flagged a €2 billion HVDC cable contract award at its SSEN Transmission unit.
- Investors are watching SSE’s Jan. 30 dividend payment and a Feb. 4 trading update next.
SSE plc (SSE.L) shares were down about 2.4% at 2,307 pence by 08:39 GMT on Tuesday, easing back after the stock set a 52-week high in the prior session. The shares have traded between 2,299 and 2,353 pence so far, with the FTSE 100 off about 1.1%.
The pullback comes as risk appetite stays shaky across Europe, where equities extended losses for a second session on worries over fresh U.S. tariff threats. The pan-European STOXX 600 was down 0.7% by 08:03 GMT, Reuters reported.
London markets were already on the back foot on Monday after U.S. President Donald Trump threatened tariffs on Britain and seven other European nations from Feb. 1, a move that dragged the FTSE 100 down 0.4% and revived volatility, Reuters reported.
SSE on Monday said its SSEN Transmission business awarded NKT major contracts worth €2 billion to manufacture and install 525kV high-voltage direct current (HVDC) cables — a long-distance electricity transmission technology often used subsea — for links between Spittal and Peterhead and a proposed Western Isles connection. “We are pleased to have signed the final contracts,” NKT Chief Executive Claes Westerlind said, while SSEN Transmission’s Sandy Mactaggart called it “another major step forward” for the subsea links. SSE
SSE Renewables separately said Cork County Council granted planning permission to extend the operational life of its four-turbine Coomatallin wind farm in Ireland to 2046, with no increase in the number or size of turbines. “Coomatallin Wind Farm has contributed to clean energy production in Ireland for two decades,” said Ciaran Maguire, onshore wind O&M general manager in Ireland. sserenewables.com
The group has also been building out its offshore pipeline. SSE said last week it secured a 20-year contract for 1.4 gigawatts of offshore wind power from a phase of its Berwick Bank project under the UK’s contracts-for-difference scheme, which guarantees a “strike price” for electricity over a set period. SSE
But the dip on Tuesday is a reminder that utility shares can still swing with the tape. Big grid and renewables programmes carry timing risk — permits, supply chains, and the cost of capital — and markets are twitchy on geopolitics.
Next up, investors will look to SSE’s interim dividend payment on Jan. 30 and its Q3 trading statement on Feb. 4 for updates on delivery and spending priorities.
