British Gas owner, Centrica, has announced that it raked in more than £3bn in profit in 2022, but it is unlikely customers will see their bills fall as a result ⬇️ kt_grant explains
Centrica’s profits trebled to £3.3bn, up from £948m in 2021, angering many customers who have struggled to pay their rising bills. Despite, it is unlikely customers will see their bills fall as a result.
“Like many companies in its sector, Centrica is making bucket loads of money at the moment from extremely. This is a feast and famine business, and you only have to go back to 2019 to find a year in which Centrica suffered almost £1bn of losses,” said Laith Khalaf, head of investment analysis at AJ Bell, an investment platform.
The British Gas retail division contributed only a relatively small sum, £72m, to the £3.3bn profit, with the energy trading division, and oil and gas extraction businesses, largely responsible for the huge overall figure, he added. While it is “unlikely” Centrica will slash consumer prices, there is some hope on the horizon for households and businesses desperate for respite in
. This should start to be reflected in bills the coming months, though energy prices for consumers remain prohibitively high when compared to previous years.on the likes of Centrica, BP and Shell. Some consumer groups and charities have suggested the proceeds of this tax should then be used to help fund investment in insulating the nation’s homes, an expensive undertaking, thereby helping us to curb usage.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British Gas owner Centrica sees profits soar as energy bills riseThe energy firm's profits surged after oil and gas prices jumped as a result of the war in Ukraine.
Read more »
British Gas owner Centrica reveals profits of £2.8bn in 2022, up from £392mBritish Gas owner Centrica has reported huge profits for 2022, soaring to £2.8 billion from £392 million in 2021 🔴 Energy firms have seen record profits since oil and gas prices soared after Russia’s invasion of Ukraine
Read more »
British Gas owner Centrica records billions in annual profits over the last yearBREAKING: As millions of Brits struggled to heat their homes, British Gas owner Centrica has revealed its profits hit £3.3billion for 2022. This is triple the huge £948million the energy giant made the year before.
Read more »
British Gas owner Centrica sees profits soar to £2.8billion from £392mIt is the latest energy firm to announce a huge windfall
Read more »
British Gas owners Centrica report record profits as energy costs soarOperating profits of £3.3bn were recorded at the company, up from £948m in 2021, and surpassing the firm's previous highest ever yearly profit of £2.7bn, posted in 2012
Read more »
Profits triple at British Gas parent companyCentrica, the company that owns British Gas, has reported record profits for their 2022 financial year.
Read more »