ALBAWABA - British Gas owner Centrica said its profit more than tripled to 3.3 billion pounds ($3.9 billion) last year.
British Gas owner Centrica triples profit from £948m to £3.3bn.— Prem Sikka (@premnsikka) February 16, 2023
Profit made by picking people's pockets, forcibly putting the poor/vulnerable on prepayment meters & expensive tariffs.
Govt says wage rises are inflationary, but doesn't curb profiteering.https://t.co/1TexI4TclZ
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.
British gas parent Centrica reports a record profit and will hand some of that windfall to shareholders https://t.co/RxgTz4xPyM— Bloomberg (@business) February 16, 2023
It said the profits "come after British Gas was criticized over its use of debt agents to force-fit prepayment meters in the homes of vulnerable customers."