SSE rake in profits as customers cope with price hike

Commenting on SSE’s yearly results which reported a 9.6 per cent increase in profits to £1.551 billion and follows their price rise last year which added over £50 to the average household energy bill, Tom Greatrex, Scottish Labour’s Shadow Energy Minister and MP for Rutherglen and Hamilton West, said:

“However you look at it, there’s no hiding the fact that under David Cameron and Alex Salmond the energy companies have increased their profits on the back of spiraling bills at a time when consumers in Scotland are facing a cost-of-living crisis. SSE has already said it will freeze prices until 2016. Today’s profits show it can afford to freeze them until 2017 – and if SSE can do it, so can the other energy companies.

“The next Labour Government will undertake the biggest overhaul of our energy market since privatisation. Our plans will break up the big energy companies, put an end to their secret deals and make tariffs simpler and fairer. And until these reforms kick in, we will put a stop to unfair price rises by freezing energy bills until 2017, saving Scotland £500m and the average household £120.”

Scottish Labour’s welfare spokeswoman Jackie Baillie said: “The SNP has failed to tackle fuel poverty which has risen to a staggering 900,000 households since they came to power. Alex Salmond has met with the big six energy companies eight times in the last four years yet he has failed to get them to cut energy prices.

"We need a government in Scotland that is on the side of people who are coping with rising fuel costs and are struggling to keep their homes warm. Yet the SNP have failed to spend the money in their budget to help our most vulnerable to reduce their energy bills and they refused to work with us on an energy task force to tackle the problem. Only a Labour government will help tackle this crisis by introducing an energy freeze.”

21 May 2014