SSE posts 9.6% profit - but no price freeze for customers

21 May 2014

sse Another day, and another energy company posts a massive profit while insisting that energy prices should remain sky high. First it was E:On, and now SSE have announced a pre tax profit of £1.5bn.

This, of course, might have something to do with the fact they hoiked energy prices by a whopping 8% last year.

But SSE says no, nothing to see here. They insist that the majority of the profit comes from investment in their wholesale business, not from retail.

In fact, they say their retail arm made just £300m, down 28% from last year due to a warm(ish) winter and the fact that NOBODY CAN AFFORD THEIR STUPIDLY HIGH PRICES.

Critics such as Labour and Which!!! have said that the profits indicate that they could well afford to freeze prices for longer and pass on more savings to consumers, but SSE said it was working really hard to keep retail prices steady – and if they freeze them until 2017, then they would lose £100m.


Still, profits were up 9.3% for SSE’s transmission and distribution businesses, and they also bought a North Sea gas field which gave them a nice £90m profit. And they can’t spread the dosh around a bit for the customers? Apparently not.

And the cats get fatter and fatter…

1 comment

  • Reg
    So no price freeze for customers then. Apart from the price freeze until 2016 they announced back in March, obviously. But then you're calling for a price freeze while saying the prices are "STUPIDLY HIGH". So why would you want to freeze them? Basically this whole article is a mess.

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