SSE Thermal
SSE Thermal is SSE plc's flexible thermal generation, gas storage and low-carbon infrastructure division, operating gas-fired power stations and salt-cavern storage across the UK and Ireland while developing carbon capture and hydrogen projects to serve electricity system operators, industrial offtakers and the GB Capacity Market.
- Company typePublic
- Founded-
- HeadquartersPerth, United Kingdom
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What SSE Thermal does
SSE Thermal is the flexible thermal generation, gas storage and low-carbon infrastructure division of SSE plc (LSE: SSE), operating under the legal entity SSE Generation Limited. It owns and operates an integrated portfolio of gas-fired power stations across the UK and Ireland — including Keadby 2 (Europe's most efficient CCGT at ~63% efficiency), Marchwood, Seabank, Peterhead, Saltend, Medway and Great Island — together with two underground salt cavern gas storage facilities (Aldbrough as a 66/34 JV with Equinor, and wholly-owned Atwick) representing approximately 40% of UK conventional underground gas storage capacity. The company is developing a pipeline of low-carbon projects: Keadby 3 Carbon Capture Power Station (first UK power CCS project to secure a Development Consent Order, December 2022), Keadby Next Generation (a 900MW hydrogen-capable station), Peterhead CCS, Aldbrough Hydrogen Pathfinder/Storage (≥320GWh planned), Ferrybridge Next Generation, plus Ireland's Tarbert Next Generation biofuel peaker (under construction from December 2025) and Platin Power Station (construction from June 2026).
Revenue is generated through three primary streams: (1) wholesale electricity market sales via the Balancing Mechanism and day-ahead markets; (2) GB Capacity Market 15-year agreements secured through government-administered T-4/T-3 auctions (3,581MW provisionally secured for 2029/30 at a £27.10/kW clearing price); and (3) gas storage capacity fees and trading services. Industrial customers are served via long-term CHP arrangements (notably Saltend supplying Saltend Chemicals Park) and ancillary services contracts with National Grid. Customers are electricity system operators, industrial offtakers, energy traders and the UK Government as capacity market counterparty.
The business model is enterprise-field-sales driven, with go-to-market executed through regulated auction mechanisms (capacity markets), wholesale electricity markets, and direct B2B contracts. Strategic joint ventures with Equinor (CCS, hydrogen, Triton Power) and Copenhagen Infrastructure Partners (Slough Multifuel), together with technology alliances such as the Mission H2 Power partnership with Siemens Energy, anchor the technology and capital partnerships. The company has 600+ direct employees across UK and Ireland operations and 22 operational, development and decommissioned sites.
SSE Thermal firmographics
Firmographics- Name
- SSE Thermal
- Legal name
- SSE Generation Limited
- Website
- https://ssethermal.com
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- SSE Thermal is SSE plc's flexible thermal generation, gas storage and low-carbon infrastructure division, operating gas-fired power stations and salt-cavern storage across the UK and Ireland while developing carbon capture and hydrogen projects to serve electricity system operators, industrial offtakers and the GB Capacity Market.
- Ownership category
- akta.pro rank
SSE Thermal industry classification
Industry- Product category
- Thermal Power Generation
- NAICS
- Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111), Steam and Air-Conditioning Supply (221330)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
- akta.pro secondary industry
- Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)
Keywords
Where SSE Thermal is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
SSE Thermal business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain
Revenue model
- Electricity Generation and Sales: SSE Thermal generates and sells electricity through its fleet of flexible gas-fired power stations. Revenue is derived from the wholesale electricity market, with plants providing power during periods of high demand or low renewable generation.
- Capacity Market Agreements: The company secures agreements through UK Government capacity auctions, providing de-rated electricity generation capacity for delivery years. These 15-year agreements provide stable revenue streams for assets like Keadby 2.
- Gas Storage Services: SSE Thermal operates gas storage facilities providing flexibility and hedging services to UK and interconnected gas markets. Revenue comes from storage capacity fees and trading activities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | GB Capacity Market auction pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
SSE Thermal product offering
Product offeringCore offering
SSE Thermal operates an integrated portfolio of flexible gas-fired power generation (CCGT and OCGT plants across the UK and Ireland), underground salt cavern gas storage facilities (Aldbrough and Atwick), and low-carbon development projects including carbon capture (Keadby 3, Peterhead CCS), hydrogen-fired power generation (Keadby Next Generation, Aldbrough Hydrogen Pathfinder), and biofuel peaker plants (Tarbert Next Generation, Platin). The company sells electricity into wholesale markets and the GB Capacity Market, gas storage capacity to energy traders and suppliers, and combined heat and power to industrial customers such as Saltend Chemicals Park.
Product overview
SSE Thermal operates an integrated portfolio of energy infrastructure across three core areas: flexible generation (gas-fired power stations providing reliable back-up power to complement renewable energy), energy storage (underground gas storage facilities offering flexibility and hedging services), and low-carbon solutions (carbon capture and hydrogen technologies for decarbonisation). The company owns and operates power stations including Keadby 2 (Europe's most efficient CCGT), Marchwood, Seabank, Peterhead, Saltend, Medway, Great Island, and others across the UK and Ireland. Its energy storage assets include Aldbrough Gas Storage and Atwick Gas Storage. Development projects include Keadby 3 Carbon Capture, Keadby Next Generation (hydrogen), Peterhead Carbon Capture, Ferrybridge Next Generation, Tarbert Next Generation, Platin Power Station, and Aldbrough Hydrogen Pathfinder.
Differentiator
Problem solved
Functional benefit
Products and services
- Keadby 2 Power Station 840MW combined-cycle gas turbine (CCGT) power station in North Lincolnshire with approximately 63% efficiency using a Siemens Energy 9000HL turbine with 3D-printed parts; the most efficient plant of its type in the UK and Europe, capable of reaching full power in 30 minutes.
- Marchwood Power Station 840MW flexible gas-fired CCGT power station located near Southampton, providing flexible back-up generation.
- Seabank Power Station 1,140MW flexible gas-fired CCGT power station located in Hallen Marsh, Bristol, providing flexible back-up generation.
- Peterhead Power Station
- Saltend Power Station 1,200MW CCGT Combined Heat and Power (CHP) power station on the Humber Estuary in East Yorkshire, jointly operated by Triton Power, providing power and steam to adjacent Saltend Chemicals Park.
- Medway Power Station
- Great Island Power Station
- Aldbrough Gas Storage Joint venture (66% SSE Thermal, 34% Equinor) underground gas storage facility in East Yorkshire with nine salt caverns and capacity to store approximately 276 million cubic metres of gas.
- Atwick Gas Storage
- Keadby 3 Carbon Capture Power Station Development-stage power station with electrical output of up to 910MW using natural gas fitted with carbon capture technology designed to capture at least 90% of CO2 emissions; expected to become the UK's first power station equipped with CCS.
- Keadby Next Generation Power Station 900MW hydrogen-fired power station development project at Keadby designed to run on hydrogen as well as natural gas; could be operational from 2030.
- Tarbert Next Generation Power Station 300MW Open Cycle Gas Turbine 'peaker' power station in County Kerry, Ireland; the first in Ireland to run on sustainable biofuels (HVO) using an Ansaldo Energia AE94.3A turbine, with construction commenced December 2025.
- Platin Power Station 180MW Open Cycle Gas Turbine power station in County Meath, Ireland, capable of running on natural gas or sustainable biofuels with potential to convert to hydrogen; expected operational 2028.
- Aldbrough Hydrogen Pathfinder Project to unite hydrogen production, storage, and power generation on one site at Aldbrough by 2030, with planned hydrogen storage capacity of at least 320GWh, significantly larger than any hydrogen storage facility in operation today; acts as catalyst for wider hydrogen infrastructure in the Humber region.
- Indian Queens Power Station Power station operated under the Triton Power joint venture with Equinor that provides voltage support to the UK electricity market as part of an ancillary services contract with National Grid.
- Deeside Power Station Power station operated under the Triton Power joint venture with Equinor in North Wales.
- Chickerell and Burghfield Power Stations Power stations that generate electricity into the local Distribution Network Operator (DNO) network operated by SSE Networks.
- Slough Multifuel Energy-from-waste facility being developed as a 50:50 joint venture with Copenhagen Infrastructure Partners (CIP), representing significant investment in energy-from-waste infrastructure.
- Thermal Community Benefit Fund Community investment programme investing over £100,000 in first year across six operational sites, supporting around 70 community projects and engaging over 1,000 young people through STEM and educational programmes.
Quantifiable outcome
- Keadby 3 expected to offset at least 1.5MT of CO2 annually, contributing 5% of UK Government's 10MT CO2 removal target by 2030
- +3 more outcomes
Companies that use SSE Thermal
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
SSE Thermal technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
SSE Thermal partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- EquinorcoreSSE Thermal and Equinor are joint venture partners on multiple major projects including Keadby 3 Carbon Capture Power Station, Peterhead Carbon Capture Power Station, and Aldbrough Hydrogen Storage. The partnership also operates Triton Power joint venture covering Saltend, Indian Queens, and Deeside power stations. Equinor provides technical expertise in carbon capture, hydrogen, and gas storage technologies.
- Copenhagen Infrastructure Partners (CIP)coreSSE Thermal is developing Slough Multifuel as a 50:50 joint venture with Copenhagen Infrastructure Partners (CIP). The project represents a significant investment in energy-from-waste infrastructure.
- Siemens EnergycoreSiemens Energy is the EPC contractor for Keadby 2 Power Station, providing the 9000HL turbine technology. SSE and Siemens have also entered Mission H2 Power partnership to deliver gas turbine technology capable of running on 100% hydrogen by 2030.
- Atlantic Projects Company (APC)majorAPC is the lead construction partner for Tarbert Next Generation Power Station, providing balance of plant services and EPC execution for Ireland's first sustainable biofuel peaker plant.
- Ansaldo EnergiamajorAnsaldo Energia is providing the AE94.3A turbine for Tarbert Next Generation Power Station, offering the required flexibility and reliability for the Open Cycle Gas Turbine plant.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
SSE Thermal competitors and assessment
Company assessmentDirect peers
- Uniper: Major European gas-fired and thermal generation operator (re-privatised by the German government) with significant CCGT fleet and active hydrogen/CCS programs. Closest direct comparable to SSE Thermal on gas-fired flexible generation and decarbonization strategy across Europe.
- Drax Group: UK-based large-scale power generator with biomass conversion and flexible generation assets, also developing CCS (Drax Bioenergy with Carbon Capture and Storage project). Comparable as a UK-listed thermal/flexible generation peer with an active CCS pivot.
- Storengy (ENGIE subsidiary): European leader in underground gas storage and an active player in hydrogen storage and saline-cavern storage development. Comparable on underground storage asset class and the energy-transition storage pivot.
Broad incumbents
- RWE: German utility with large European gas and coal generation portfolio pivoting to renewables and hydrogen. Comparable to SSE Thermal on thermal-asset transition, hydrogen ambition, and European CCS participation, though much larger and more diversified.
- E.ON: European integrated utility with UK operations and prior thermal generation exposure (divested to RWE/Uniper). Comparable on customer/market overlap in UK energy markets and broader hydrogen/decarbonization investments.
- EDF Energy: UK subsidiary of EDF operating nuclear and some thermal/flexible assets. Comparable on UK flexible generation capacity and participation in the GB Capacity Market, though dominated by nuclear baseload.
- Vattenfall: Swedish state-owned utility with European thermal and hydrogen operations. Comparable on decarbonization of thermal generation (e.g., HYBRIT, biomass conversion) and large-scale hydrogen ambitions.
- Ørsted: Danish utility that transitioned away from fossil generation into offshore wind and is now developing hydrogen (Green Fuels for Denmark). Comparable on the strategic arc from thermal operator to green-energy and hydrogen producer.
- Centrica: UK integrated energy company (British Gas owner) with flexible generation assets including former gas peakers. Comparable as a UK utility with thermal generation exposure and energy storage ambitions.
Others
- Equinor: SSE Thermal's primary JV partner and a major operator of natural gas, hydrogen (Hydrogen to Humber, H2 Saltend), and CCS projects. Included as an ecosystem partner rather than competitor — comparable technology stack and shared asset base at Aldbrough, Saltend, Keadby 3, and Peterhead.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
SSE Thermal social profiles
Digital presenceSSE Thermal financial estimates
Financial estimateRevenue estimate
Valuation estimate
SSE Thermal leadership team
Management profileNumber of profiles
Profiles9 records
SSE Thermal subsidiaries and ownership
Company hierarchySubsidiaries5 records
SSE Thermal funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SSE Thermal M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SSE Thermal
What does SSE Thermal do?
SSE Thermal operates an integrated portfolio of flexible gas-fired power generation (CCGT and OCGT plants across the UK and Ireland), underground salt cavern gas storage facilities (Aldbrough and Atwick), and low-carbon development projects including carbon capture (Keadby 3, Peterhead CCS), hydrogen-fired power generation (Keadby Next Generation, Aldbrough Hydrogen Pathfinder), and biofuel peaker plants (Tarbert Next Generation, Platin). The company sells electricity into wholesale markets and the GB Capacity Market, gas storage capacity to energy traders and suppliers, and combined heat and power to industrial customers such as Saltend Chemicals Park.
Is SSE Thermal a public or private company?
SSE Thermal is a public company. It is classified as public and is currently operating.
When was SSE Thermal founded?
SSE Thermal was founded in -1. It employs 501 to 1,000 people.
Where is SSE Thermal based?
SSE Thermal is headquartered in Perth, United Kingdom, in the Europe region.
How does SSE Thermal make money?
Three revenue lines are on record. Electricity Generation and Sales are the primary driver. The others are capacity Market Agreements and gas Storage Services.
Who are SSE Thermal's main competitors?
Direct peers on record are Uniper, Drax Group and Storengy (ENGIE subsidiary). Broad incumbents are RWE, E.ON, EDF Energy, Vattenfall, Ørsted and Centrica. Equinor is listed as an others.
Does SSE Thermal have an API?
No public API is recorded for SSE Thermal.
What industry is SSE Thermal in?
SSE Thermal's product category is Thermal Power Generation. Its primary akta.pro industry code is EUACABAI, Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield), with a secondary code of EUALALAB, Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP). Its NAICS code is 221112 and its SIC code is 4991.