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The boss of SSE has said they do not plan to make more profit this year than they did last year.
Answering questions in an industry survey, SSE chief executive Alistair Phillips-Davies said the price increase faced by customers will not add to his company’s profits.
He said: “When we did announce an increase, we kept it as low as we could.
“We raised prices by just enough to cover our increased costs, and we do not plan to make any more profit.”
Phillips-Davies added the company aims to make a 5 per cent profit from supplying energy to domestic customers, and highlighted that last year SSE posted a profit margin of 4.2 per cent.
He added: “I don’t expect any significant increase this year.”
The SSE boss also said that his company would “like to go further than Labour’s policy [the price freeze] by not just freezing energy prices but cutting them further”.
Phillips-Davies added that SSE is “happy to pass on cost savings when we get them” and called on the government to remove “the remaining environmental and social levies off bills and into general taxation” so they would be able to reduce customer bills.
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