There have been heated debates over energy price capping and the UK government has declared that it would take strict action to offer cheaper energy bills to loyal customers. The Big Six energy suppliers have always been under the scanner of the energy regulator as they are touted as big profit makers. Proving it again, SSE has turned out to be the highest profit making Big Six supplier.
By clearly ignoring the warnings given by Ofgem and the government, the UK energy supplier has shown a record braking profit in the last year. As per the latest reports from Ofgem, the gas and electricity supplier has taken a plunge from 3.94pc in 2013 to 6.95pc last year. This is way ahead of the average profit percentage of the Big Six energy suppliers, which is 4.48pc. By doing so, they have proved that they have no empathy for its 7.7million home energy customers.
According to the Ofgem Spokesperson, the profit margin has seen a sharp fall due to the pre-tax loss made by EDF and Npower, which was recorded as 0.87pc and 6.26pc respectively. She revealed that the profit margins of SSE are at par with British Gas which made a profit of 7.18pc last year. However, British Gas and E.On have faced low profit times and so have the other Big Six suppliers. SSE has been the only exception in the last three years and has shown a rising profit curve. This is a clear warning for the energy customers who are desperately seeking cheaper energy bills.
Speaking on the matter, Shay Ramani, an energy price comparison expert said that “It’s high time Britons look beyond the Big Six suppliers.”
He added that “SSE would not sustain customers in long term basis, if it focuses only on profits. Millions of customers are switching to cheap energy suppliers and so, the monopoly of the Big Six would come to a stop in the near future.”
To sum up, the best way to save on energy bills is to make a quick energy price comparison and switch to a cheaper energy supplier. It’s proved time and again that loyal customers are not being taken care-off by the UK energy suppliers and so energy switch is the best way to maintain your household budget.
If you find energy comparison a tedious task then you can rely on our quick energy price comparison service. We are one of UK’s most trusted energy price comparison experts and have a huge customer base of satisfied customers. You can rely on our services to get the cheapest home energy bills. Again, our energy experts are ready to help you at any point of time. Feel free to check our website https://freepricecompare.com/ or call our friendly energy price comparison team on 02034757476.
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