Energy supplier SSE posts profit rise, says sector ‘challenging’

Britain’s second largest energy supplier, SSE, reported a 9.6 per cent increase in 2014 full-year adjusted pretax profit, boosted by a strong performance in its electricity transmission operations.

The group, a member of Britain’s “Big Six” energy suppliers, which have come under fire for consistently increasing tariffs, reported profits of £1.6 billion, ahead of average analysts’ expectations.

Despite the rise, the utility said yesterday the issues facing the energy sector were “very challenging”.

In March, it decided to freeze its energy tariffs until January 2016.

"Customers, investors, regulators, politicians and SSE all want the same thing: an energy market that works for customers, and is trusted and seen to do so," chairman Robert Smith said. – (Reuters)