Energy company SSE has reported a bump in profits helped by the electricity it produces at gas power plants as reports emerged that the Government is considering including energy generators in a potential windfall tax. The company said that adjusted operating profit rose 15% to £1.5 billion in the year to March, while pre-tax profits hit £3.5 billion, up 44%.
A good part of this rise came from the SSE Thermal unit of the business which runs several gas power plants that supply electricity to the grid. This unit saw a 91% rise in adjusted operating profit, hitting £306 million.
“This was a year in which our resilient business mix and balanced portfolio of assets helped us navigate volatile markets and meet our financial objectives whilst making record investments in the critical UK infrastructure needed to tackle climate change and deliver more secure, independent energy supplies,” said chief executive Alistair Phillips-Davies.
