British Gas sees 11per cent increase in profits

The giant energy company British Gas reported an increase in profit to £606 million following 2012

15:52 27 February 2013

The well-known energy group British Gas have reported an 11per cent increase in profits, with a figure of £606million for last year. They witnessed an increase in gas usage of 12per cent.

The firm has said that this could be due to their customers using more energy because of the colder weather the UK experienced in 2012.

 

The results come just months after the ‘big six’ energy firms increased their energy prices, much to the dismay of the country’s general population. British Gas increased its prices in November, but the group explained to the BBC that for each house, profit margins decreased to approximately £50 per house.

 

The Managing Director of Residential Energy for British Gas Ian Peters told BBC Breakfast: “We will move heaven and earth to keep our customers’ bills down and we have the lowest bills in the industry.”

 

But it is apparent that many Britons may have to tighten their belts over energy prices being hiked, given the current climate of the economy and the unemployment situation in the UK.

 

British Gas is owned by the large utility firm Centrica, who have their headquarters based in the UK.