British Gas has reported record profits of almost £1bn for the first six months of the year AlannahFrancis1 looks at how the UK’s largest energy supplier saw its earnings soar nearly 900% in the first half of the year ⬇️
Centrica said: “All suppliers had to purchase a portion of their electricity and gas at levels above the price cap.
But fuel poverty campaigners have said the profits surge is a sign that Britain’s energy system is broken. “At a time when household energy debt is spiralling to record levels and energy bills remain double what they were just a few years ago, the profits posted will be greeted with disbelief by those struggling through the crisis.
To illustrate what this means for an average person, Ofgem uses a figure of 12,000kWh for a household’s annual gas use when announcing the price cap. This is only a guide to show how the change in price cap impacts a typical household’s annual energy bill.The new energy price cap introduced at the start of July, saw annual bills fall by an average of £430 and it is predicted they will reduce again in October.
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