SSE Airtricity will give this year’s profits away to vulnerable customers and charity, the company has announced.
Sanctions on Russia have caused the profits of energy companies to surge, as sanctions sent the price of fossil fuels soaring.
SSE Airtricity supplies energy to 700,000 homes in Ireland and recorded a profit of €17 million in the first half of this year.
This morning, the company announced that they intend to use it to support the vulnerable.
“Now they’re going to give that money to support 65,000 financially vulnerable customers,” Newstalk’s Business Editor Joe Lynam said.
“They’re going to give money to Vincent de Paul and they’re going to give money to the Bryson charity north of the border as well.”
CEO Alistair Phillips-Davies described it as “the most comprehensive support package of any energy company in Ireland” and said it was the responsible thing to do.
“This is reflected in our decision to forego any profits we make in SSE Airtricity. Whilst this will not shield everyone from market volatility, we are doing everything we can to support our customers this winter,” Mr Phillips-Davies said.
Main image: Electricity Pylons silhouette against a dawn sky at Ringaskiddy, County Cork. Image: David Creedon / Alamy Stock Photo