British Gas owner Centrica records £3.3bn in profits amid rising energy bills in UK

British Gas owner Centrica records £3.3bn in profits amid rising energy bills in UK. Photo by Eyematter

The owner of British Gas reports recorded profits worth more than £3.3 billion for 2022 as the UK suffers from a cost-of-living crisis due to rising energy costs  

Centrica, the owner of British Gas Energy has announced that they earned profits worth £3.3 billion (€3.7 billion) in 2022, as rising energy costs created a major cost of living crisis in the UK.  

The profits of the energy giant more than tripled in 2022, as they were recorded at £948 million in 2021, as per the Independent.  

The news about the profits comes at a time when other giants in the sector have also reported record profits, while anger grows to call for more windfall taxes on the sector.  

Centrica has announced that an operating profit of £72 million (€81 million) was earned by the retail division of British Gas Energy, which has dropped by 39 percent from 2021.  

The company also created controversy in the UK after it reportedly used debt collectors to forcibly install pre-payment meters, in the houses of customers, who were financially vulnerable.


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Written by

Imran Khan