Utilities Daily: SSE FY 2026 Results and German Network Agency Reforms

SSE delivered a modest beat on FY 2026 earnings and reiterated guidance, while German regulators proposed significant network tariff reforms.

Key Takeaways

• 1.SSE reported solid FY 2026 results with adjusted EPS of 153.5p, slightly beating the Bloomberg consensus of 150p.
• 2.The German Federal Network Agency is proposing reforms to the electricity network tariff system, including caps for households and new capacity-based pricing for large customers.
• 3.The European utility sector is entering a 'super cycle' driven by a projected 280 GW datacenter pipeline, which could boost power demand by 2% annually starting in 2028.

Table of Contents

• Research you can't miss from past two weeks
• SSE FY 2026 results: Solid numbers, guidance reiterated
• German Network Agency presents consideration on electricity network tariffs
• Other news
• Research you need to read
• Powering Up Europe: Outlook 2026: Building the foundations of the next utility super cycle
• Powering Up Europe: AI, data centers and energy needs: at Europe's inflection
• Disclosure Appendix

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