SSE Airtricity owner posts 89% jump in annual profit

SSE is looking for ways to deploy the windfall it earned from high profit margins at its gas-fired power plants — exempt from the government’s generator levy — during the energy crisis.

British power generator SSE, which owns Irish energy company SSE Airtricity, reported a near 89% rise in annual profit, buoyed by performance in its renewables business.

The company posted adjusted pre-tax profit of £2.18bn (€2.5bn) for the year ended March 31, up from £1.16bn reported a year earlier, amid the ongoing energy crisis.