Caroline Flint MP, Labour's Shadow Energy and Climate Change Secretary, commenting on SSE's annual results which showed a 5.6% increase in profits to £1.4bn, including a 27.5% increase in profits in its energy supply business, after increasing gas and electricity prices by 9% last October, said:
"It's another day and another energy company announces record profits. Like all the other big energy firms when SSE imposed inflation-busting price hikes last winter, they claimed they had no choice. But these figures show they have increased their profits on the back of spiralling bills for hard-pressed people.
"The time has come for a complete overhaul of Britain's energy market. For too long the energy companies have been able to do whatever they want, while households have been left struggling to pay their bills. The energy market must be made to work in the interests of ordinary consumers not the energy giants. While families have seen their energy bills spiral out of control, David Cameron's Tories have no answers. We need a One Nation Labour Government to break the stranglehold of the big six energy firms and create a tough new energy regulator with the power to force energy companies to pass on savings to consumers."