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THE PARENT COMPANY HAS SEEN ITS HOUSEHOLD SUPPLY EARNINGS PLUMMET BY MORE THAN HALF IN 2024, WITH PROFITS FALLING FROM £751MILLION TO £297M. 12:03, 20 Feb 2025Updated 12:40, 20 Feb 2025
British Gas has come under fire after making £310 off each UK household as the owner reports a slump in annual profits to £2.3bn. The parent company has seen its household supply earnings
plummet by more than half in 2024, with profits falling from £751million to £297m. Centrica reported adjusted earnings of £2.3bn for last year, down by a third from 2023 when its profits
reached £3.5bn after a £500m windfall from the energy regulator. British Gas serves 7.46m households compared with 7.53m in 2023. Centrica’s chief executive, Chris O’Shea, said it was “a
good year” for the company after it improved operations and ramped up investment. He said: “This has resulted in happier customers and more innovative propositions, but there is so much more
we can do. Looking ahead, I want to see Centrica continue to focus on the areas that make the biggest difference. READ MORE 19 COUNTIES IN ENGLAND FACE MARCH SNOW STORM WITH EXACT DATE IT
HITS ANNOUNCED after newsletter promotion Article continues below “We are investing in the energy transition, ensuring our customers have the energy they need, when they need it at a price
they can afford.” Caroline Simpson, a campaigner for the Warm This Winter campaign, criticised the energy system's "stark inequality", noting that just 20 companies like
British Gas have made over £483bn since 2020. Since 2020, Centrica has accumulated nearly £9bn in operating profits, equivalent to £310 per household. "Our bills are high because of
greedy gas and oil companies," she said. Simon Francis, a campaigner from the End Fuel Poverty Coalition added: "Centrica continues to post massive profits while households
continue to struggle in cold damp homes." He criticised the company's share buyback programme, suggesting the money should help struggling households instead. Gill Marchbank, CEO
at ResQ, said: “We’re experiencing a particularly grueling winter right now, with the UK having experienced mass snowfall and recorded its coldest January night in 15 years in recent weeks.
Article continues below "These conditions can have real human impacts – especially on the most vulnerable in our society - and make our recently published Don’t Freeze report all the
more timely. The data is clear; many billpayers are worried or already struggling to pay their energy bills and expect to receive support and empathy from their providers. "But what
many are experiencing is a customer-compassion rift, with some providers failing to identify the personal impacts of poor customer care – as well as the commercial incentives behind
providing the right support."