Renewable energy schemes helped boost profits for waste management group Viridor, which rose by 34.8% to £55.4m.

Chief executive, Colin Drummond, said an expansion of energy-from-waste (EfW) schemes could offer major opportunities for growth with parent company Pennon, which also has major interests in South West Water, announcing a 14.2% increase in underlying profits to £189m.

Commenting on the figures, Mr Drummond said that while energy from wind power could be unpredictable – energy-from-waste schemes were more reliable and responsive to consumer need.

‘Energy-from-waste schemes currently account for some 1.5% of energy produced in the UK. The target is to increase this to 6% by 2015, but the Government needs to be more ambitious,' he said.

Mr Drummond said ‘few people realise that waste is virtually the largest source of renewable energy in the UK' and he called for closer co-operation between waste companies and the Department for Energy and Climate Change and the Department for the Environment Food and Rural Affairs.