SSE rakes in ‘offensive’ £4million a day in profits as fuel bills soar

Energy Giant SSE Nets £4 Million Daily Profits Amid Rising Fuel Bills

Scotland’s energy giant, SSE, has come under fire for amassing a staggering daily profit of £4 million while households struggle with escalating fuel costs and fuel poverty. The Perth-based firm reported pre-tax earnings of £714 million in the six months leading up to September, equating to approximately £3.92 million per day.

Critics have raised concerns about SSE’s commitment to sustainability, particularly in light of its proposal to construct a second gas-fired power station in Peterhead. Anti-fuel poverty group, Warm This Winter, expressed outrage at energy companies reaping “obscene sums” while many Scots face challenges heating their homes. The group advocates for a social tariff system that offers discounted energy deals to vulnerable individuals, funded by levies on industry profits.

With nearly a third of Scottish households living in fuel poverty and a fifth experiencing extreme fuel poverty, the need for affordable energy solutions is urgent. Despite SSE’s focus on renewable energy sources and a £20 billion investment plan in clean power infrastructure, environmental activists question the company’s green credentials due to its operation of 16 fossil fuel plants in the UK and Ireland.

The controversy surrounding SSE’s profit margins is further compounded by concerns over the environmental impact of the proposed Peterhead gas station. While SSE and Equinor maintain that carbon capture technology will offset emissions, campaigners argue that the project’s true climate implications must be transparent.

In response to criticisms, Alistair Phillips-Davies, SSE’s chief executive, defended the company’s financial performance, citing a commitment to clean energy transition and alignment with the UK government’s clean power goals by 2030. However, environmental advocates and consumer groups continue to call for greater accountability and social responsibility from energy corporations.

In a climate where energy costs are soaring and fuel poverty remains a pressing issue, the moral and ethical obligations of energy companies like SSE are increasingly scrutinised. As the debate on sustainable energy practices and fair pricing strategies intensifies, the public demands greater transparency and tangible solutions to address the widening gap between corporate profits and consumer welfare.