27 Jul 2023

British Gas profits almost £1 billion for first half of 2023

For months, households across the UK have been struggling with rocketing energy bills.

So the news that British Gas has reported record profits – up almost tenfold compared to last year – is not going down well.

Over the past 18 months they made £750 million purely due to the prices the company was allowed to charge its customers under Ofgem’s energy price cap.

The regulator says the profits are temporary – to offset losses. But campaigners want British Gas to face a windfall tax.