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For months, households across the UK have been struggling with rocketing energy bills.
The energy giant Centrica, which owns British Gas, tripled its profits last year to more than £3 billion – despite the squeeze on consumers hit by soaring bills – with some vulnerable households forced onto prepayment metres.
The owner of British gas will cut 4,000 jobs following weak performances last year – placing some of the blame on the government’s plans for an energy price cap. British Gas lost 1.4 million accounts in 2017. Iain Conn, the Chief Excutive of Centrica earns £4.1 million a year – so will he be taking…
There is an over supply of gas around the world. Wholesale prices are almost rock bottom. And yet British Gas has hiked its electricity prices by a searing 12.5 %. Faced with a barrage of outrage, it states that this is the first rise in 4 years, and blames government energy subsidies and the rising price…
Siobhan Kennedy
British Gas has announced a five per cent cut in gas prices which will come into effect at the end of February, although it fails to match the scale of the drop in the wholesale price of gas in recent months.
The energy secretary says claims that British Gas paid its staff bonuses if they inflated customers’ bills are “deeply disturbing”. But the energy company denies the allegations.
Centrica Chief Executive Sam Laidlaw told Channel 4 News such pressure is undermining investor confidence and means vitally needed new power stations may not be built.
British Gas reports a small drop in profits for 2013 as its chairman warns political intervention could increase the chance of the “lights going out.”
On the same day British Gas announces that energy bills will rise by ten per cent, it launches a question and answer campaign for its customers on Twitter. But it perhaps hasn’t gone quite to plan.
Centrica, the parent company of British Gas, is forced to defend the huge profits made by its residential division in 2012, and insists it was forced to hike gas and electricity prices.
And of course, it isn’t all doom and gloom for Centrica when wholesale prices go up, because the giant doesn’t just buy gas and electricity at source. It produces it and sells it wholesale too.
British Gas is set to increase its gas prices, adding £100 a year to the average fuel bill. Sarah Smith reports.
“We think the suggestion that today’s figures are just a return to the norm after a particularly lean spell last year is dubious.”
British Gas reveals profits of £270m for the past six months, weeks after announcing plans to raise electricity and gas prices.
British Gas has rejected as “disporportionate” a £2.5m fine handed to the firm by energy regulator Ofgem over basic failures in the company’s customer services.