The boss of British Gas owner Centrica defended it raking in tens of millions of pounds in profits as families woke up on Friday to sky-rocketing energy bills.
With the nation heading into the worst cost-of-living squeeze for nearly 70 years, energy firms faced growing questions over the profits they are making and the Government over whether it should be doing more to help struggling households. Centrica chief executive Chris O’Shea admitted the energy giant’s pre-tax profits jumped by more than £500 million from its oil and gas exploration and production businesses last year.
