British Gas owner Centrica has seen its profits soar to more than £3 billion for 2022 amid rocketing energy prices that have sparked a cost-of-living crisis. The energy giant reported underlying operating profits of £3.3 billion against profits of £948 million in 2021.
Stripping out its Spirit Energy businesses that were sold, underlying earnings for the group jumped to £2.8 billion from £392 million the previous year. The earnings haul for last year comes as anger grows over a run of massive profits notched up in the sector and mounting calls for greater windfall taxes.
Centrica said it made operating profits of £72 million at its British Gas retail division, British Gas Energy, but this was down 39% on the year before. Its figures come amid a furore over Centrica’s use of debt collectors to install expensive pre-payment meters by force in the homes of vulnerable cash-strapped customers.
