Centrica, British Gas’s owner, reported underlying operating profits of £2.1 billion for the first six months of the year, up from £1.3bn over the same period last year.
Shadow Climate Change Secretary Ed Miliband has slammed British Gas for ‘benefitting from the windfalls of war’, after the company recorded its highest ever first-half profits of almost £1bn, while ordinary families continue to struggle to make ends meet.
The UK’s biggest energy supplier reported profits of £969m for the first six months of 2023, up nearly 900% from £98m in the same period last year.
Centrica, British Gas’s owner, reported underlying operating profits of £2.1 billion for the first six months of the year, up from £1.3bn over the same period last year.
Miliband said that the energy firm profits highlighted the ‘scandal of the Tory failure to act on the windfalls of war being pocketed by the oil and gas companies’.
He said: “Instead of asking energy giants to be nice, as he did yesterday, Jeremy Hunt should be fixing the gaping loopholes in the windfall tax on oil and gas profits.
“Labour would act to close loopholes and bring in a proper windfall tax on oil and gas giants to help tackle the cost of living crisis, alongside our plan to make Britain a clean energy superpower so we can lower bills for families and businesses.”
British Gas’ record profits were condemned by a number of trade unions and campaign groups. We Own it, which advocates public ownership of public services tweeted: “It’s obscene. British Gas owner Centrica has today reported operating profits of a staggering £2.1bn.
“Meanwhile, our bills soar. Energy is an essential public service. Let’s bring it into public hands, move away from fossil fuels and put people and planet before profit.”
Unite’s Sharon Graham tweeted: “@BritishGas has just reported its highest ever first half year profits, raking in almost £1billion.
“We need to stop dancing around our handbags and grasp the nettle. The only way to end the chaos in our energy supply is staring us in the face – #PublicOwnership.”
Basit Mahmood is editor of Left Foot Forward
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