Today marks a new chapter for SSE. I’m honoured to take on the role of Chief Executive from Alistair, whose leadership over the last 12 years has evolved the company into a focused, resilient organisation with a clear purpose: to provide the energy needed today while building a better world of energy for tomorrow.
Our transformation over the past decade is not an accident. We’ve streamlined the business to refocus on electricity networks, renewables and flexibility. And the significant investment we have made along the way has firmly established SSE as a leader in electricity grids and offshore wind while delivering falling emissions and embedding sustainability across our operations.
We now stand at a pivotal moment. The climate science has not changed. And Government ambitions in our UK and Ireland core markets require a step-change in the scale and ambition of infrastructure delivery. SSE is uniquely placed to deliver the combination of low-carbon power, networks and flexibility that society demands. Our integrated mix of businesses and assets are built to withstand volatility and deliver sustainable value for shareholders and society for decades to come.
And this growth opportunity has never been clearer in networks. The Transmission investments we will make through the next decade will unlock long-term societal value and are essential to the functioning of a low-carbon economy. Distribution is poised for the next wave of growth as electrification deepens and consumers demand a reinforced but also more dynamic grid system to match supply and demand.
In renewables, we have a pipeline of high quality opportunities for deployment later this decade and beyond. Global events over the past eighteen months have only underlined the need to deliver these options with discipline. Our market leading position in renewables means we have the depth of knowledge and experience that understands those risks – enabling us to deliver landmark projects such as Dogger Bank, which will be the largest offshore wind farm in the world.
Our flexible energy assets – from hydro to thermal power stations - not only provide valuable security of supply to the market but also provides strong risk management for the Group. Combined with our customer and energy markets businesses, they protect against market volatility while providing vital routes to market. And with a valuable pipeline of low-carbon development opportunities, these businesses are ideally placed for the future.
SSE’s integrated portfolio - networks, renewables, flexibility - is purpose built for the energy transition. It gives us options for sustainable long-term growth, with the ability to pivot our investment plans to where the best opportunities exist and to be responsive to policy or market frameworks. Delivering on this commercial potential requires discipline and focus - choosing the right opportunities and executing them with the operational excellence that will create optimal value.
Success depends on deep, enduring relationships and working together. Our employees drive delivery. Our supply chain enables scale. Policymakers shape the environment. Investors fuel our ambition. Customers and communities power our purpose.
SSE is well-set for the future. Our strategy is clear, our capital allocation disciplined, and our ambition high: to be a top-tier clean energy leader. That is how we will deliver value - for shareholders, society and the planet - for decades to come.