SCOTTISH & Southern Energy posted profits of more than £1.3bn, despite a fall in power use among its 9.16m customers.
The 1.7% increase to £1.31bn in the year to March 31 means that the supply and generation firm, which owns Southern Electric, Swalec and Scottish Hydro, has lifted annual adjusted profits for 12 years in a row.
It was helped by changes in electricity distribution prices following a regulatory review, which offset higher-than-forecast wholesale gas prices and disappointing output from renewable energy and hydro electric schemes.
Electricity use by households fell by 2.5%, the group added.
SSE followed British Gas owner Centrica in warning that domestic customers faced a possible further hikes in bills.