British Gas: Anger as energy bill change leads to record profits

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Chippy_Tea

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People have been phoning 5 live today in total disbelief and anger saying they were sitting in layers of clothes because they didn't have the money to turn the heating on one retired lady said she bought a sleeping bag and sat in the chair inside the sleeping bag with another blanket over her, i hope labour do get in at the next election and do what they have promised and share these obscene profits amongst those that need it the most.

One asked why still pay a standing charge it should either be scrapped of built into the tariff so the more you use the more you pay.


There has been an angry reaction to British Gas reporting record half-year profits as millions of households continue to struggle to pay their energy bills.

British Gas's profits rose to £969m after price cap rises allowed it to make more money from household bills.
Regulator Ofgem said the bumper results were a "one-off" due to the changes.
But campaigners said the profits were "a further sign of Britain's broken energy system".
"The profits posted will be greeted with disbelief by those struggling through the crisis," said Simon Francis, coordinator of the End Fuel Poverty Coalition, adding that "energy firms are operating on a playing field set by the government".
British gas owner Centrica said it was important to understand that the changes were "simply a recovery of costs that we incurred in the past".
About half of British Gas's profit - £500m - was due to changes to the price cap made by the energy regulator. By comparison, the business reported a profit of £98m in the same period last year.
Two other major energy suppliers also announced large increases in profits, helped by the changes to the price cap.
Scottish Power went from a large loss last year to profits of £576m in its retail division, while France's EDF said its British operations - including nuclear and wind power generation - saw earnings jump to £1.95bn from £740m last year.

Profits have risen after the energy regulator raised how much suppliers can claim from household bills to make up for costs incurred during the pandemic.
But Ofgem said bumper profits in the first half of the year would be a "one-off" as energy firms recoup "significant costs" from the impact of the Covid pandemic and Russia's invasion of Ukraine, and that profits would then "fall back significantly".
On average, in 2022 suppliers made a shortfall for each dual-fuel customer due to the cap, but in the first half of 2023, the higher cap gave them a benefit of about £100 a customer.
Households were protected from the full rise in the cap by the government's energy price guarantee, which ran from October to June and limited typical annual bills to £2,500.
Ofgem said that billpayers, and taxpayers via government subsidies, had "supported the sector and its customers as prices rose and costs spiralled", adding that firms should not pay dividends to shareholders unless they are "financially robust".
Centrica reported underlying operating profits of £2.1bn for the first six months of the year, up from £1.3bn a year earlier. It has proposed a 33% hike in dividends and a £450m extension of share buybacks.

Prime Minister Rishi Sunak said that the windfall tax on energy firms had helped to pay "around half of a typical family's energy bill".
"That support has been worth £1,500 to a typical family," he said.
However, Labour's shadow climate and net zero secretary, Ed Miliband, said the profits "demonstrate the continuing scandal of the Tory failure to act on the windfalls of war being pocketed by the oil and gas companies".
Liberal Democrat leader Ed Davey said the government was "still allowing energy firms to rake in extraordinary profits while millions of families struggle".
Analysts at Cornwall Insight predict the energy price cap is expected to remain "significantly above pre-pandemic levels for the foreseeable future".
Advisory organisation the Energy and Climate Intelligence Unit said the government had been "prioritising oil and gas over cheaper renewables", whereas recent polls suggest that people wanted "more action on climate change".
Energy firms have continued to make big profits from oil and gas, even though energy prices are not as high as they were last year.
Russia's invasion of Ukraine in 2022 pushed up oil and gas prices and led to energy firms making record profits.
Oil and gas giant Shell said profits fell to $5bn (£3.9bn) in the April-to-June period, partly due to the fall in prices.
Shell said it had also been selling less oil and gas and making lower profits on refining.

Full article - British Gas: Anger as energy bill change leads to record profits
 
People have been phoning 5 live today in total disbelief and anger saying they were sitting in layers of clothes because they didn't have the money to turn the heating on one retired lady said she bought a sleeping bag and sat in the chair inside the sleeping bag with another blanket over her, i hope labour do get in at the next election and do what they have promised and share these obscene profits amongst those that need it the most.

One asked why still pay a standing charge it should either be scrapped of built into the tariff so the more you use the more you pay.


There has been an angry reaction to British Gas reporting record half-year profits as millions of households continue to struggle to pay their energy bills.

British Gas's profits rose to £969m after price cap rises allowed it to make more money from household bills.
Regulator Ofgem said the bumper results were a "one-off" due to the changes.
But campaigners said the profits were "a further sign of Britain's broken energy system".
"The profits posted will be greeted with disbelief by those struggling through the crisis," said Simon Francis, coordinator of the End Fuel Poverty Coalition, adding that "energy firms are operating on a playing field set by the government".
British gas owner Centrica said it was important to understand that the changes were "simply a recovery of costs that we incurred in the past".
About half of British Gas's profit - £500m - was due to changes to the price cap made by the energy regulator. By comparison, the business reported a profit of £98m in the same period last year.
Two other major energy suppliers also announced large increases in profits, helped by the changes to the price cap.
Scottish Power went from a large loss last year to profits of £576m in its retail division, while France's EDF said its British operations - including nuclear and wind power generation - saw earnings jump to £1.95bn from £740m last year.

Profits have risen after the energy regulator raised how much suppliers can claim from household bills to make up for costs incurred during the pandemic.
But Ofgem said bumper profits in the first half of the year would be a "one-off" as energy firms recoup "significant costs" from the impact of the Covid pandemic and Russia's invasion of Ukraine, and that profits would then "fall back significantly".
On average, in 2022 suppliers made a shortfall for each dual-fuel customer due to the cap, but in the first half of 2023, the higher cap gave them a benefit of about £100 a customer.
Households were protected from the full rise in the cap by the government's energy price guarantee, which ran from October to June and limited typical annual bills to £2,500.
Ofgem said that billpayers, and taxpayers via government subsidies, had "supported the sector and its customers as prices rose and costs spiralled", adding that firms should not pay dividends to shareholders unless they are "financially robust".
Centrica reported underlying operating profits of £2.1bn for the first six months of the year, up from £1.3bn a year earlier. It has proposed a 33% hike in dividends and a £450m extension of share buybacks.

Prime Minister Rishi Sunak said that the windfall tax on energy firms had helped to pay "around half of a typical family's energy bill".
"That support has been worth £1,500 to a typical family," he said.
However, Labour's shadow climate and net zero secretary, Ed Miliband, said the profits "demonstrate the continuing scandal of the Tory failure to act on the windfalls of war being pocketed by the oil and gas companies".
Liberal Democrat leader Ed Davey said the government was "still allowing energy firms to rake in extraordinary profits while millions of families struggle".
Analysts at Cornwall Insight predict the energy price cap is expected to remain "significantly above pre-pandemic levels for the foreseeable future".
Advisory organisation the Energy and Climate Intelligence Unit said the government had been "prioritising oil and gas over cheaper renewables", whereas recent polls suggest that people wanted "more action on climate change".
Energy firms have continued to make big profits from oil and gas, even though energy prices are not as high as they were last year.
Russia's invasion of Ukraine in 2022 pushed up oil and gas prices and led to energy firms making record profits.
Oil and gas giant Shell said profits fell to $5bn (£3.9bn) in the April-to-June period, partly due to the fall in prices.
Shell said it had also been selling less oil and gas and making lower profits on refining.

Full article - British Gas: Anger as energy bill change leads to record profits

I firmly believe certain services should be nationalised or mandated as not for profit this is an example of the distortion of ethics that is destroying out society
 
Won't make a difference in Wales. The new Reichs Fuhrer Gethin has already funded his campaign with 200k donated from a convicted fly tipper and refused to return it when it was made public.
He's that hard faced you could chop sticks on it.
 
British gas owner Centrica said it was important to understand that the changes were "simply a recovery of costs that we incurred in the past".
Why are people so surprised, The war in Ukraine no fault of the public, soring wholesale cost's, but is us who bear the brunt of it, the standing charge, i should as a property owner be allowed to charge them rent their meters are on my property,
 
Won't make a difference in Wales. The new Reichs Fuhrer Gethin has already funded his campaign with 200k donated from a convicted fly tipper and refused to return it when it was made public.
He's that hard faced you could chop sticks on it.
Do people believe all they money given away during covid would not be clawed back, i seriously am dumfounded how the people of this country have any faith in the elected people who run it, the biggest winner was EDF a feckin French company god help us, time to wake up and smell the coffee anybody who votes tory or labour should be lined up and shot
 
Do people believe all they money given away during covid would not be clawed back, i seriously am dumfounded how the people of this country have any faith in the elected people who run it, the biggest winner was EDF a feckin French company god help us, time to wake up and smell the coffee anybody who votes tory or labour should be lined up and shot

Well going by the last general election you are going to need a LOT of bullets the Blue wall turned my stomach one of the very few things I agree with SNP is their current drive Tories out of Scotland mantra it should be taken up nationwide after everything they have done
 
Well going by the last general election you are going to need a LOT of bullets the Blue wall turned my stomach one of the very few things I agree with SNP is their current drive Tories out of Scotland mantra it should be taken up nationwide after everything they have done
I just hope and pray labour don't win, just look at their top table 2 brain cells between them and one of them is dead
 
I just hope and pray labour don't win, just look at their top table 2 brain cells between them and one of them is dead

You keep slating Starmer at every opportunity how do you know he will not make a good PM what do you base this on?

Do you want another 5 years of Conservative?

Do you think any other party is going to jump from 12% to win the election?









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I base my findings on labours past record

And therein lies the problem dont assume Starmer and Labour cannot make things better give them a chance (if they get in) then you can put your favourite T shirt on if they dont having voted for another party.


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Well can things get worse Tories have run out of ideas and credibility full stop sooner they depart the better.

I partially agree id like to see Labour not a Tory clone, tbh I have given up Westminster

I am not a fan of Starmer and i have said it here many times (i prefer Burnham) but that doesn't mean he cannot do the job and as labour party supporters who would have preferred someone else are stuck with him lets see how he does if he fails we can all turn round and say we were right when he is replaced.
 
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It's to late once he's in

But its the party that is in not just him and if he is not up to the job they will replace him, i honestly think he is a decent bloke he just doesn't come over the same way Andy Burnham does and he wasn't my first choice so i am biased, i hope he goes on to prove his doubters (me included) wrong.
 

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