In what's been called a ‘further sign of the broken energy system’, British Gas has recorded record half-year profits of almost £1 billion.
British Gas unveiled record profits of almost £1 billion in the first six months of 2023.
Owner of the energy giant Centrica nearly doubled its gain to £2.1 billion in what some have condemned as a ‘further sign of the broken energy system’ in the UK. Underlying earnings at its gas and electricity supply arm went up by 889% to £969 million in the six months to June 30 from £98 million a year earlier.Centrica said the change allowed it to recoup losses seen a year earlier to the tune of some £500 million.
The company’s record profits have angered consumer groups working to protect households struggling to keep up with their bills. Simon Francis, coordinator of the End Fuel Poverty Coalition, said: ‘The profits are a further sign of Britain’s broken energy system.
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