MENUMENU
  • Home
  • Free Subscription
  • Latest digital editions
  • Market reports
  • Events
        • The EV Event
          • Photos
          • 2019 presentations
          • Register
        • The Energyst Event
          • 2019 Videos
          • 2019 presenations
          • 2019 Agenda
          • 2019 Photos
          • Exhibitors
        • Battery storage event
          • 2018 Photos
          • 2018 presentations
          • Photos
        • DSR Event
          • Register
          • Photos
          • 2019 presentations
          • 2018 presentations
          • 2017 presentations
  • Advertise
    • Our Publications
  • About Energyst Media
    • Contact Us

theenergyst.com

  • Policy & Legislation
  • Procurement
  • DSR, storage, flex
  • Energy Management
  • Electric Vehicles
  • Renewables
  • December 8, 2019
You are here: Home / Energy Procurement / SSE business energy profit plummets 93 per cent

SSE business energy profit plummets 93 per cent

November 13, 2019 By Brendan Coyne Leave a Comment

SSE’s business energy supply division saw operating profit fall 93 per cent to £2.9m for the six months to 30 September.

The utility cited increased bad debt, lower volumes of energy sold, industry mutualisation and disposals.

SSE said the collapse “reflects challenging market conditions” within business energy supply but said profitability is expected to improve for the full year.

The company’s domestic supply business was excluded from its financial result as its sale to Ovo progresses. It shed 330,000 accounts since September 2018. The firm has now installed 1.5m smart meters.

Overall, SSE reported an adjusted pre tax profit of £263.4m up around 15 per cent.

Click here to see if you qualify for a free subscription to the print edition of The Energyst, or to renew.

Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.

Share this article:

  • Tweet
  • Email
  • Print
  • WhatsApp

Filed Under: Energy Procurement

About The Author

Contributing editor at Energyst Media

Leave a Reply Cancel reply

Your e-mail address will not be published. Required fields are marked *

2019 Energy outlook podcast

Top Posts & Pages

  • Hydrogen fuel cell electric vehicle charger aims to solve capacity crunch
  • After Npower, where next for UK energy retail market?
  • Ofgem confirms £97.5m renewables obligation shortfall
  • National Grid outlines future of frequency response
  • Flow storage firm Red T plans merger with Avalon Battery Corporation
  • Eon wields the knife at Npower, big cuts ahead
  • Capacity Market: 33 suppliers owe £38m in payments
  • Proton Power Systems signs deal to make big fuel cells, shares soar
  • SEEIT: 2020 will be a big year for renewable energy PPAs
  • WPD and ENW plan substation arrays to power electric vehicles

RECENT COMMENTS

  • Kayla Ente on After Npower, where next for UK energy retail market?
  • Steve Broderick on Study: smart charging trumps V2G value – for now
  • Oliver on The promise and pitfalls of private wire electricity supply
  • Andrew Warren on Utilities take evasive action against nationalisation
  • David Howard on Net zero: We’ll need 10 times as much hydrogen
  • Bill Parker on SSE: 40GW of offshore wind ‘will not be a walk in the park’
  • Louis Fairfax on Ofgem confirms plans for new network charges
Tweets by @EnergystMedia

Subscribe to The Energyst e:news

We will never share your email address and you can easily unsubscribe from every email we send you.

theenergyst® | Copyright © 2019 Energyst Media Ltd

Website users agree to abide by our Terms & Conditions and Cookie Policy

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.