Centrica reports triple profit in 2022

Published February 16th, 2023 - 11:25 GMT
British Gas owner Centrica
A laptop screen displays the Latest News page from the website of Centrica in Brenchley, south east England on June 11, 2020. British domestic energy provider Centrica will axe 5,000 jobs, or almost one fifth of its workforce, as it responds to the coronavirus pandemic fallout and intense competition, it said Thursday, June 11. / AFP / Ben STANSALL
British Gas owner Centrica

ALBAWABA - British Gas owner Centrica said its profit more than tripled to 3.3 billion pounds ($3.9 billion) last year.

The figure compared with 948 million pounds ($1.1 billion) recorded in 2021, the firm said.

It said the increase was due to a steep rise in the price of oil and gas following Russia's invasion of Ukraine a year ago.

The profitability sparked calls for energy firms to pay more tax on their profit, as many households struggle with soaring gas and electricity bills, the BBC reported.

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