Today, SSE announced a massive annual profit of £1.55bn - a 9.6 per cent increase on last year. We're caling on SSE to pass this windfall onto their customers by offering them a price cut, rather than a cynical price freeze. Read our statement below.
Jonathan Senior, Head of Research at ThisIsTheBigDeal.com, said:
"SSE's announcement of a £1.55bn profit is a kick in the teeth for consumers when their prices went up by 8.2% last year. So we're stunned that they've announced a massive profits increase of 9.6 per cent after losing 370,000 customers in the past year.
When SSE announced a price freeze in March, we said it was cynical to offer a freeze when prices are unaffordable. We stand by that. And in light of today's announcement, we're calling on SSE to put the customer first and turn their profit windfall into a price cut."
Please contact Jonathan Senior on 07929 721 219 or Jono@ThisIsTheBigDeal.com.
ThisIsTheBigDeal.com is a national campaign for cheaper energy bills. It brings people together to harness their collective buying power and deliver lower bills. 10,000 people have already signed up, over 60% of whom have never or hardly ever switched. People can sign up online at ThisIstheBigDeal.com, or by calling 0333 222 5871.
When SSE announced its price freeze in March, The Big Deal
"SSE's price freeze is a cynical move to pre-empt the referral of their industry to competition authorities. Such gestures are easily affordable after energy bills have doubled and profits quadrupled. A competitive energy market does not announce price freezes in response to government pressure; it offers price cuts in response to consumer demand. The best way for consumers to achieve that price cut is to join a collective switch like The Big Deal, and bargain together for a fairer tariff. Then we will see if the Big Six are serious about competition."