Unite, Britain's biggest union, has branded energy company SSE's profits 'excessive' and blamed the government for failing to effectively control the industry.
Energy company SSE has reported a 38 per cent jump in half-year profits to nearly £400 million today (14 November 2012). Last month SSE raised customers' bills by nine per cent.
Unite national officer for energy, Kevin Coyne said:
"These profits are excessive, especially when price increases have caused more hardship for those customers already struggling to get by. The government have washed its hands of all responsibility and left it to the market which is clearly failing to deliver on price. This Tory government stubbornly refuses to properly regulate the energy industry.
"The government needs to give the regulator Ofgem the teeth to effectively control rising energy prices. But the government also needs to support Britain's future energy needs through investment, rather than leaving it all to the energy companies which then pass the cost of investment on to consumers with interest."
Contact: Ciaran Naidoo on 07768 931 315
Notes to editors:
Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The general secretary is Len McCluskey.