SSE post bumper profit rise of 48%
From April to September this year SSE made £549M in profit, up 48% on last year.
SSE, also known as Scottish & Southern Energy, has posted bumper profits for the first half of their financial year. From April to September they made £549M in profit up 48% on last year. For the full year they are on track to make £1.5 billion in profit.
SSE were the slowest of the Big Six suppliers this year to pass on a gas price cut. Based in Perth in Scotland, they are one of the biggest investors in the UK energy industry running power stations, wind farms, and distribution networks as well as supplying millions of customers.
Mark Todd co-founder of energyhelpline said: “Christmas has come early for SSE as they post booming profits. We urge them to take this opportunity to spread some festive cheer by passing some of the extra money they have made on to customers as a price cut. British Gas did it just before they posted increased profits in the summer. Come on SSE!”
The boss of SSE instead stressed how much they are investing in the UK and unfortunately did not hint at any drop in prices for customers. “The last six months have seen us invest substantially in the UK’s energy infrastructure…. We’ve upgraded our fleet of gas power stations, opened our new multi-fuel power plant and completed the Beauly to Denny transmission link.”
It would be particularly good for a power giant like SSE to cut prices now as research shows that a worrying number of people in the UK don’t turn up the heating when they feel very cold in winter as they are worried about their bills.
Naturally one great way to feel more comfortable about heating your home properly is to switch and save. Living in a properly heated home is important to stay healthy.