SSE’s profits soar as energy prices rise

The energy giant’s operating profit nearly doubled to £716 million

Big Zero Report 2022

SSE’s overall operating profit reached £716 million in the first half of its financial year, nearly double the figure recorded last year.

In the six months ending 30th September, the energy company saw an adjusted profit after tax of £489 million, compared to £162 million in 2021.

The energy giant has invested £1.7 billion in energy projects and explained that its financial results benefitted from the good performance of its Thermal Energy business, which includes flexible gas-fired power stations and gas storage facilities.

Alistair Phillips-Davies, SSE Chief Executive Officer, said: “We have delivered a good strategic and financial performance reflecting the strength of our business model.

“This has enabled us to invest far more than we earn – building and operating the clean homegrown energy infrastructure that will provide a sustainable solution to the current energy crisis.

“By SSE’s own estimates, if the system investment required to meet 2030 targets had been delivered by 2022, around £30 billion would have been saved in GB expenditure on gas this year.”

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