British Gas slated over profits hike
British Gas has come under pressure to drop its prices after a “shocking” 23 per cent hike in profits triggered a consumer backlash as it emerged more than a million Scots are now facing annual bills of more than £1260.
The UK’s biggest energy supplier, owned by utility giant Centrica, admitted last year’s hefty price rises helped its residential arm to an operating profits haul of £345 million in the six months to the end of June.
That equates to £1.9m a day, or an average of £3.64p a month from the 15.8m accounts its serves, sparking criticism it is making too much money.
Centrica put gas and electricity tariffs up by 18 per cent and 16 per cent respectively last August blaming higher wholesale costs and has warned of further rises this winter.