Profits rise at British Gas - Gas and electricity - News - Moneyfacts


Profits rise at British Gas

Profits rise at British Gas

Category: Gas and electricity

Updated: 27/02/2013
First Published: 27/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

British Gas has announced its annual profits from residential energy supply grew to £606 million during last year, up by 11% from 2011.

The energy provider also confirmed that profits rose by 16% to £312 million within its residential services unit, responsible for maintenance services such as fixing boilers.

The news will reignite anger amongst many consumers who have been hit hard by increases to their energy tariffs this winter. All of the six major energy providers in the UK hiked up their energy prices in October and November last year, with British Gas increasing its electricity and gas costs by 6%.

Prime Minister David Cameron waded into the energy price debate following the series of increases, stating that all providers should be forced to automatically place customers on the cheapest rates possible.

British Gas declared that its rise in profits was a result of increased energy use by households over the winter months as temperatures plummeted, despite figures suggesting that seven in ten UK households (69%) resorted to having no heating at some point this winter in an effort to save money.

What next?

Are your energy prices rising? Save up to £331 a year by using our energy comparison service.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Are you worried about paying for winter heating?

Autumn is here, temperatures are dropping, and the nation is battling with one key question – when should I put the heating on? For some it’ll be an easy answer, but others may have more to consider, with many wondering how they’ll pay their bill.

Energy switching up by 30%

Not happy with your current energy supplier? You’re not alone. Not only have recent figures highlighted a worrying level of complaints, but many customers could simply feel that they’re paying too much, and happily, they’re doing something about it!

Gap widens for energy complaints handling

The customer service a utility provider offers is important. Unfortunately, the latest report from Citizens Advice shows that complaints are still a big issue, with the worst performing energy supplier now 80 times worse than the best.