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Scottish and Southern Energy announces record profits
Thursday 05 June, 2007
Energy supplier Scottish & Southern Energy’s profit before tax has reached £1billion for the first time, according to the company’s first-quarter results.
Scottish & Southern Energy (SSE) attributed the rise to a new strategy: to operate and invest in a range of regulated and non-regulated energy-related businesses.
What the company calls “our policy of responsible pricing” (SSE was one of the first energy suppliers in the UK to cut prices after the wholesale energy price drop) has helped it to gain more than a million new customers.
Customer complaints to the regulator, Energywatch, have fallen by 47% over the past year, and profit is up by 23.5% since March 2006. The company’s ‘Talk’ telecoms branch has also broken through the 100,000 customers barrier.
In the near future, Scottish & Southern hopes to launch a new energy programme that rewards customers for energy efficiency.
Chris Eagle, commercial manager at EnergyChoices.co.uk, comments: “Companies are still not doing enough to cut prices in line with cuts in the wholesale market. We want energy companies to make a big gesture to consumers, rather than maximising profits”
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