£800m British Gas profits 'a kick in teeth'

Gas is set to reveal BRITISH eye-watering profits of more than £800million for last year, sparking fresh anger.

- Graham Hiscott

The predicted figures were last night called a "kick in the teeth to households" struggling through the cost-of-living crisis.

British Gas, with 7.5 million customers, made £72million profit in 2022, lower than in 2021 because of soaring wholesale energy costs after Russia's invasion of Ukraine.

But the country's biggest supplier has benefited from industry watchdog Ofgem allowing it to claw back money through higher bills.

Payout

Analysts expect a big turnaround when owner Centrica reports its group results on February 14.

Investment bank Investec predicts British Gas's supply arm raked in £816million last year. Rival UBS has pencilled in a haul of £895million.