Gas and electricity Updated:
RWE, the parent company of energy provider npower, has announced an operating profit of £390 million for 2012, a 34% increase from 2011.
The substantial profit increase will be a kick in the teeth for households who have been hit hard by rising gas and electricity prices this winter. All six major energy providers hiked their rates late last year, angering millions of consumers already struggling with escalating living costs.
Mark Todd, director and co-founder of energyhelpline, said: "Prices up and then profits up – it seems to be the same story in the energy market. Today, consumers are dealing with yet more news of double digit profit from another major energy supplier.
"There are only two ways to cut your energy bills – use less and pay less.
"To use less, homeowners need to take advantage of all the help they can, with cut-price insulation and other energy efficiency schemes. To pay less, bill-payers need to switch regularly," he advised.
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