Energy supplier SSE has announced a profit boost of 28%, helped by high demand for gas during a long, cold winter.
An exceptionally cold winter caused a 21% increase in gas consumption as SSE customers kept their heating on for longer than usual. This extra demand has contributed to SSE’s 28% jump in profits compared to the previous year.
The profit announcement will be difficult news for customers. SSE, which operates through brands including Southern Electric, increased prices by an average of 9% in October 2012 and has recently received a record fine of £10.5m for misselling energy.
Shocking winter bills
Which? executive director Richard Lloyd said: ‘Such a large profit announcement will be a slap in the face for SSE’s customers who have been hit with an inflation-busting price rise and seen this company given a record-breaking fine for misselling.’
Rising energy prices are consistently one of consumers’ top financial concerns .The long winter will have left millions of customers with large bills for gas and electricity.
Mr Lloyd added: ‘Bills will only be kept as low as possible if there is more effective competition, easier switching between suppliers and every tariff presented in a clear, consistent and simple way so people can easily spot the cheapest deal.’
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