SSE Airtricity owner dampens talk of break-up of assets

SSE – through its SSE Airtricity business - counts just under 700,000 households as customers in Ireland.

Airtricity owner SSE has dampened talk of a break-up of its business and a carving up of its energy assets.

It was reported, last week, that activist hedge fund investor Elliott Investment Management is pushing for a break-up of SSE, after having built up a stake in the UK energy utility. 

Speculation surrounds the possible separation of SSE’s renewable energy portfolio and its regulated electricity business. It was reported that Elliott was already meeting, privately, with SSE representatives and major shareholders.

“There has been no decision to break up the SSE Group. The board remains fully focused on strategic choices which will drive shareholder value from the wealth of net-zero opportunities the company is creating,” the UK energy utility said.

SSE – through its SSE Airtricity business - counts just under 700,000 households as customers in Ireland.

SSE said it will update on its growth plans when it publishes half-year results in November.  

This update, it said, will include details of “significantly increased capital investment” for the period up to 2026, along with sources of funding and the group’s overall vision for further growth into the 2030s.

“SSE is currently building more offshore wind than any company in the world, expanding internationally, and investing in the low-carbon electricity infrastructure that society needs,” the group said.

SSE said that, following the recent reshaping of the group, its "clear strategic focus" is on renewables and regulated electricity networks, "supported by carefully chosen businesses."