Profits at British Gas fell to a record low of £80 million last year as customers used less energy in the warmer weather and the pandemic left households struggling to pay their bills. Its parent company Centrica reported a 31 per cent drop in operating profits to £447 million as it was also hit by the impact of lower commodity prices and businesses using less energy during lockdowns. British Gas is Britain’s biggest household energy supplier but has been losing customers for a decade and reported a further 2 per cent drop to 6.9 million households last year. Chris O’Shea, the Centrica chief executive, is attempting to revive the group’s fortunes but warned: “It won’t be easy.”
Times 25th Feb 2021 read more »