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23/02/2006
Centrica profits rise to £1.5bn
British Gas owner Centrica has announced an 11% increase in profits, taking the amount to £1.5 billion.
Centrica attributed the profits to its gas production and storage operations.
The announcement is set to cause controversy, coming a week after British Gas announced that the cost of gas and energy bills would rise by 22% this year.
However, profits at British Gas plunged 63% to £90 million, which was attributed to the company delaying passing the increasing cost of wholesale fuel onto customers.
British Gas made a £75 million operating loss for the second half of 2005, largely due to the loss of customers and the increasing price of wholesale fuel.
According to the latest figures, British Gas lost more than 600,000 customers last year, as customers switched to other suppliers.
Allan Asher, Chief Executive of Energywatch, said: "As a consumer I feel aggrieved when one week I hear of a 22% price rise and the next I hear of high profits. Centrica, parent company of British Gas, is a complex international company. Its profits may not be coming from its domestic business, but today's announcement from Britain's most expensive supplier can only jar with consumers who may not be able to heat their homes properly."
(KMcA/SP)
Centrica attributed the profits to its gas production and storage operations.
The announcement is set to cause controversy, coming a week after British Gas announced that the cost of gas and energy bills would rise by 22% this year.
However, profits at British Gas plunged 63% to £90 million, which was attributed to the company delaying passing the increasing cost of wholesale fuel onto customers.
British Gas made a £75 million operating loss for the second half of 2005, largely due to the loss of customers and the increasing price of wholesale fuel.
According to the latest figures, British Gas lost more than 600,000 customers last year, as customers switched to other suppliers.
Allan Asher, Chief Executive of Energywatch, said: "As a consumer I feel aggrieved when one week I hear of a 22% price rise and the next I hear of high profits. Centrica, parent company of British Gas, is a complex international company. Its profits may not be coming from its domestic business, but today's announcement from Britain's most expensive supplier can only jar with consumers who may not be able to heat their homes properly."
(KMcA/SP)
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31 July 2008
Centrica Posts £1 Million In Profits - To Consumers Anger
British Gas owner Centrica has posted half-year profits of almost £1 billion - much to the anger of consumer groups. Centrica maintain that it has been "absolutely necessary" to raise household gas prices as profits were down 20% in the first six months of this year to £992 million - down from £1.23 billion in 2007.
Centrica Posts £1 Million In Profits - To Consumers Anger
British Gas owner Centrica has posted half-year profits of almost £1 billion - much to the anger of consumer groups. Centrica maintain that it has been "absolutely necessary" to raise household gas prices as profits were down 20% in the first six months of this year to £992 million - down from £1.23 billion in 2007.
13 January 2011
British Gas Invests For Vulnerable Customers
British Gas have announced that it is making a new investment of £37 million in support for its vulnerable customers. Each customer on British Gas' Essentials social tariff will receive £50 as a credit on their winter bill. Prepayment customers will receive the credit direct to their meter.
British Gas Invests For Vulnerable Customers
British Gas have announced that it is making a new investment of £37 million in support for its vulnerable customers. Each customer on British Gas' Essentials social tariff will receive £50 as a credit on their winter bill. Prepayment customers will receive the credit direct to their meter.
26 August 2014
200 Homes Still Without Gas After Water Leak
Around 200 homes in Wales are still without gas after a burst water pipe flooded gas lines last Thursday. Wales and West Utilities have said that some 150,000 litres of water has been pumped from gas pipes since last Thursday, with 540 of the 755 homes affected by the leak, now reconnected.
200 Homes Still Without Gas After Water Leak
Around 200 homes in Wales are still without gas after a burst water pipe flooded gas lines last Thursday. Wales and West Utilities have said that some 150,000 litres of water has been pumped from gas pipes since last Thursday, with 540 of the 755 homes affected by the leak, now reconnected.
30 July 2009
Centrica Profits Drop 5.6%
Energy giant Centrica has reported a 5.6% drop in profits in the first half of this year, but believes it will remain focused on delivering stability and growth throughout the rest of 2009. However, profits from British Gas, part of the Centrica Group, rose to £299 million from £166 million in the same period last year.
Centrica Profits Drop 5.6%
Energy giant Centrica has reported a 5.6% drop in profits in the first half of this year, but believes it will remain focused on delivering stability and growth throughout the rest of 2009. However, profits from British Gas, part of the Centrica Group, rose to £299 million from £166 million in the same period last year.
23 February 2012
Labour Slams British Gas For "Enjoying Huge Profits"
Labour's Shadow Secretary has slammed Centrica, owners of British Gas, after reporting profits of £2.415 billion. Caroline Flint MP said people will be shocked when millions of families are struggling with their energy bills while British Gas enjoys huge profits.
Labour Slams British Gas For "Enjoying Huge Profits"
Labour's Shadow Secretary has slammed Centrica, owners of British Gas, after reporting profits of £2.415 billion. Caroline Flint MP said people will be shocked when millions of families are struggling with their energy bills while British Gas enjoys huge profits.
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