Scottish and Southern Double Profits

molerat

http://www.electric.co.uk/news/scottish-southern-to-announce-huge-profit-increases-for-2009-12341252.html

Scottish & Southern Energy, a large utility giant which serves mostly the UK, is nearing an announcement which will show that the energy company has more than doubled its profits next month. The announcement is anticipated to insight many of their customers with anger, as the company has not reduced rates, despite doubling it’s earnings.

In fact, the profits are expected to be a great deal higher than market analysts had previously anticipated causing Scottish & Southern to publish a trading update indicating that their profit margins would be considerably higher than the same time last year. The company’s pre-tax profits are going to be reported in the range of £600 million, which compared to last year’s £302.6 million, is considerable. Scottish & Southern Energy boasts nine million customers across the UK.

I hope OFGEM has made an appointment at the dentist to get some teeth fitted !!

icefall

With some incisors hopefully...

Somniac

I have just left them for British Gas.

Farway

Thanks, just had over £60 in dividends from SSE in September

If you can't beat 'em, join 'em

adprob

How much of this profit is from domestic electric and gas supplies and how much is from other aspects of their business (ireland, generation, transmission, etc)

mech_2

adprob wrote: »

How much of this profit is from domestic electric and gas supplies and how much is from other aspects of their business (ireland, generation, transmission, etc)

Doesn't a large chunk of the profit from generation and transmission also come from domestic customers at the end of the day?