Energy giant SSE has raised its annual earnings forecast.

The company, one of the largest renewable energy generators in the UK and Ireland, has said it now sees earnings per share to be more than 150 pence a share, up from the previous guidance of at least 120 pence.

SSE explained that this change reflects “supportive market conditions” which lead to flexible power generation and gas storage optimisation.

This increase in profit expectations is also expected to offset “lower than planned” renewables output and other business costs.

The group’s Finance Director Gregor Alexander said: “Our fully funded £12.5 billion Net Zero Acceleration Programme is progressing at pace as we build the renewables, networks and flexible energy assets needed for a cleaner, more secure energy system.”