Scottish and Southern's profits pass £1bn for the first time

Scottish & Southern Energy, the UK's third largest supplier of electricity and gas, has announced full year profits of £1.08bn, up 24% on last year.

It has also announced an increase in customer numbers from 6.7m to 7.75m and unveiled plans to encourage customers to reduce their energy consumption.

Karen Darby, Founder of SimplySwitch.com said, "Scottish and Southern has gained over a million customers in the last year. It held off longer than other suppliers in passing price increases on and has remained relatively competitive throughout the year. This huge increase shows that if you are competitive, customers will flock to you.

"Scottish and Southern has announced plans to reward energy efficient customers. Through the scheme Scottish and Southern believe that the average household will be able to save £100 on their energy bills if they reduce their consumption of electricity and gas and invest in energy saving products. Any move to cut bills and greenhouse gases is welcome but we urge customers to look at all their options. Other providers offer similar incentive schemes and their tariffs may be cheaper.

"The energy market is consolidating and Scottish & Southern is often mentioned as a takeover target. British Gas and Scottish and Southern are the only UK owned energy suppliers remaining. It is important that it continues to fight off potential take over bids as further consolidation in the industry can only be bad for competition."