British Gas’s retail operation has reported a substantial spike in profits despite a squeeze on the energy sector which has caused many rivals to go out of business.
Parent company Centrica said that British Gas Energy had reported a 44 per cent jump in adjusted operating profit, which reached £118 million in 2021, helped by households using more gas in the first six months of the year.
The unusually warm weather in the last three months of the year also allowed it to sell gas and electricity it had bought in advance, cashing in on high energy costs.
