Power firm hints at higher household bills down line

SSE became the latest major UK energy supplier to warn of higher wholesale costs yesterday, raising the prospect of increased household electricity and gas bills.

The Perth-based firm, whose businesses include Scottish Hydro Electric, said operating profits from its domestic supply operation fell 20% to £321.6million over the year to March 31 as it battled higher costs and falling consumption.

It added that uncertainty over Scotland’s future was creating increased investment risks, saying the prospect of regulatory and legislative change meant it would have to decide if it should apply an independence-linked premium to investments north of the border.

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