SSE to freeze energy prices this winter

SSE, one of the UK’s ‘big six’ energy firms, confirmed on Friday that it will freeze standard household energy prices this winter, capping them at the current level until at least April next year.

Will Morris, managing director of retail at the group, said: “We understand that the prospect of increasing bills during the colder months is a real concern for customers, particularly as they start to turn up the heating. So today we’re giving them peace of mind that no matter what happens we will not increase our standard household energy prices during the winter, until at least next April.

“This follows our unique two and a half year price freeze in March 2014, since which time we’ve also cut prices three times for our standard customers as we work to keep prices as low as possible for as long as possible.”

Earlier this week, The Sun claimed gas and electricity firms could be making six times more profits than they state.

According to regulator Ofgem, UK energy companies make a 4% profit margin on the average dual fuel bill. However, The Sun – whose claims were based on a report commissioned by Energy UK from accountancy firm PwC – suggested they could in fact be making a 24% profit margin.

At 1556 GMT, SSE shares were down 0.7% to 1,442p.