British Gas to give 10% of profits to help cut bills
British Gas is to donate 10% of its profits to help customers cope with soaring bills for the "duration of the energy crisis".
And Paul de Leeuw, director of the RGU Energy Transition Institute at Robert Gordon University in Aberdeen and a former executive at Centrica, British Gas's initial donation would only benefit 0.5% of its 7.5 million customers. The typical home energy bill is forecast to reach £3,553 a year in October - up from £1,971 currently - with further rises expected for January.
Sceptics say that it is a token gesture that represents a tiny fraction of the overall cost to households, made possible by having a parent company that is making huge profits on its gas production business which other energy retailers don't have. Centrica boss Chris O'Shea said the support package was worth £25m. "As a responsible business we want to do more to support our customers during this difficult time," he said.
Mr Anderson said he had submitted the idea to Business Secretary Kwasi Kwarteng who was "seriously considering" it.
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