Cheapest energy provider enjoys huge profits
June 19, 2007
Britain’s cheapest energy provider has seen huge profits rolling in over the past year.
Scottish and Southern Energy, which is also known as Southern Electric in the London area, has seen profits soar by 45 percent, taking the firm’s profits through the one billion pound barrier for the firs time. The company has become known as the cheapest provider of gas and electricity in the UK but has still managed to rake I record profits.
According to officials from the company shareholder can look forward to big increases in the amount that they receive. Although this company is the cheapest when it comes to dual fuel, the pricing structure has enabled the energy giant to enjoy sky high profits. Shared have shot up by around eighteen percent, and company executives are very pleased with the performance.
One executive from Scottish and Southern Energy stated: ‘This excellent financial performance, with profit before tax exceeding £1bn for the first time, is a result of the implementation of a strategy to deliver strong operational performance along with our policy of responsible pricing, helping us to gain more than one million additional customers. SSE’s first responsibility to shareholders is to deliver sustained real growth in the dividend.’
In addition to enjoying a reputation as the UK’s cheapest energy provider, Scottish and Southern Energy recently topped the league in a poll of the leading energy suppliers in the UK, proving to be the most popular with its customers as well as the cheapest.
In addition to offering lower prices on dual fuel, Scottish and Southern has also promised a £100 credit to those that cut their fuel consumption by at least ten percent, and become more energy efficient. Campaigners are still not happy, however, because of the huge profits that this and other energy companies are making though their pricing.
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