Profits soar for cheapest energy provider

There has been a 45 percent increase in profits for the energy provider that is said to be Britain's cheapest provider of gas and electricity. Also trading as Southern Electric in London, Scottish and Southern Energy admitted that profits had smashed through the one billion pound barrier for the first time, and that shareholders would be seeing a big increase in the amount that they receive.

According to reports the energy giant does provide the cheapest prices on dual fuel, where gas and electricity are both taken through Scottish and Southern Energy. However, the pricing has also seen profits swell by 45 percent, and has seen pre-tax earning hit well over one billion pounds. Shares are also going up by more than eighteen percent. The energy giant has become a leading provider in the country, with many people switching to this provider because of its low cost dual fuel pricing.

The chairman of 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.'

Despite being the cheapest supplier and recently topping the leagues as the most popular supplier, Scottish and Southern Energy, along with other major energy suppliers throughout the UK, are still being slated by campaigners for charging prices that generate such massive profits. However, the energy supplier has promised that households that cut their fuel consumption by at least ten percent, and use energy efficient appliances, will receive a one hundred pound credit.