Photograph by Herman
Energy giant SSE is set to make a £1.54 billion profit this year, an increase of 8.8% on 2012/13, and increase payouts to its shareholders after announcing a sharp increase in energy bills for customers.
This news is likely to spark anger from customers affected by the price hikes of an average of 8.2% the company announced just before Christmas.
SSE, which trades as Southern Electric, Swalec and Scottish Hydro, blamed government green levies, rising network costs, and and increase in wholesale energy prices for their price hike. After the government cut the green levy in response to the energy bill price hikes from the “big six”, SSE has now said that they will pass this saving onto consumers with a 3.5% price cut, but this still leaves customers with an above-inflation price rise overall.
The company’s profits are expected to increase 8.8% on 2012/13, despite the company losing 350,000 customers and average consumer consumption of electricity falling by 4.3% and gas by 9.5%.
