front of So just how big is your pension? POWER BOSS QUIZZED ON EXIT PAY Rip-off electricity firm urged to reveal what chief will leave with EXCLUSIVE.
Rip-off power giants SSE are being called on to reveal the payoff given to their fatcat boss.
Chief executive Ian Marchant is set to walk away from the company with a pension pot of between PS9million and PS15million.
And he could even leave with a golden goodbye despite the company being fined PS10million for duping their customers.
But SSE are refusing to reveal the size of his payoff until June, just days before he leaves the firm.
Labour Scottish energy spokeswoman Rhoda Grant said: "The test for all of these severance packages should be whether you can justify this generosity when families are struggling with energy costs.
"By failing to disclose Ian Marchant's goodbye package, it would suggest they do not have the confidence to do that.
"There is no doubt that there have been some damaging business practices at this company under Ian Marchant.
"People will question whether it is appropriate for him to walk away with these rewards in light of the ongoing revelations over mis-selling."
SSE were fined PS10.5million by Ofgem for ruthless mis-selling on doorsteps, over the phone and on the high street.
Their sellers lied to prospective customers and promised far greater savings than were possible.
Staff were trained in psychological techniques and issued with a misleading script designed to confuse.
Many victims tricked into paying more to heat their homes were elderly and vulnerable.
Last week, the Sunday Mail confronted the millionaire SSE boss. The 52-year-old, who lives in a PS1.1million Edinburgh mansion, refused to personally apologise for the mis-selling.
Asked if he had a message for his company's victims, he dismissed the scandal as "issues from the past".
An SSE spokeswoman said yesterday: "The details of Ian Marchant's final remuneration will be set out by the company's remuneration committee in June and any numbers reported in advance of that are entirely speculative."
they admitted door-to-door staff were not trained to give customers last year paid PS3.5million to customers rather than face vital information. Call centre workers a larger fine and made a PS1million donation to Citizens Advice for energy advice campaigns.
investigati British Gas were not Fuel giants double their profit margins Fuel fatcats have been accused of "cold-blooded profiteering" after more than doubling their profit margins.
The big six energy firms, including SSE, are earning an average of PS95 from each UK home.
Figures from regulators Ofgem show fuel bills are on average PS1420 a year, a profit of PS95 per customer - a profit margin of seven per cent.
This is up from an average of PS1030 and a profit margin of 3.2 per cent in 2011.
Sam Robertson, of Fuel Poverty Action, said: "This cold-blooded profiteering has to stop."
Shadow energy and climate change secretary Caroline Flint said: "Energy firms always claim that when they put up people's bills they're only passing on increased costs.
"These figures show energy firms have increased profits on the back of spiralling bills for hard-pressed consumers."
power to to proactively normally be open on Sunday. PS1.4bn profit and compensate those customers who were mis-sold." profits were boosted by a nine per cent price rise last to pret" Tom Greatrex MP, Labour's UK shadow November - which added PS119 to the average figures show that Britain's power firms have more energy minister, said: "If SSE really mean it when they apologise for mis-selling, "So if customers feel issue, they can absolutely have my personal assurance them seriously. I stand by we have said publicly on " But when questioned"That's all I am going to say, to say any more." household bill. than doubled the profit they take from every then most decent people would expect their chief executive to have the decency SCANDALOUS How we confronted Marchant about SSE mis-selling rip-off to apologise as well. "To the delight of shareholders, this year will "Compared to their profits this year, mark the 14th consecutive rise in profits at the firm hit customer. The average bill for gas and electricity is now
GRILLING Marchant in front of MPs
|Printer friendly Cite/link Email Feedback|
|Publication:||Sunday Mail (Glasgow, Scotland)|
|Date:||Apr 14, 2013|
|Previous Article:||New alert after bird flu kills girl; Update.|
|Next Article:||TANNADICE STARLET RYAN IS OUR PRECIOUS SILVA.|