Centrica Reports Tripled Profits in 2022 as Critics Call for Energy Reform

todayFebruary 16, 2023

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Centrica, the owner of British Gas, has reported a significant increase in profits in 2022, with full-year profits of £3.3bn, more than triple the £948m it made the previous year. The majority of the profits came from the company’s nuclear and oil and gas businesses, rather than from British Gas. The company faced criticism for its use of debt agents to force-fit prepayment meters in the homes of vulnerable customers. The energy market has come under pressure to pay more tax, and Centrica said it paid approximately £1bn in tax relating to its 2022 profits. Trade unions, campaigners, and opposition politicians criticised the company’s profits, calling for energy retail companies to be brought into public ownership and for a “proper” windfall tax on energy companies.

Written by: Relaks Radio

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todayFebruary 16, 2023

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