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Energy profits: Why have British Gas profits soared by 889%?

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The parent company of British Gas, Centrica, has revealed half-year profits for its UK household supply arm are up by nearly 900%.

Centrica said that underlying earnings at British Gas rose to £969m compared to the £98m achieved a year earlier.

It said the bulk of the growth, however, was not down to any trading windfall from high energy prices but an ability to recover earlier trading losses through the energy regulator Ofgem's price cap.

Read more on the story here: https://news.sky.com/story/british-gas-profits-soar-by-889-but-not-for-the-reason-you-might-think-12928285

#britishgas #centrica #skynews

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News and politics
Tags
profits, british gas, british gas profits

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