UK Money News
18th February 2008
British Gas annual profits prompts mounting criticism
MPs have moved to condemn British Gas as it prepares to announce huge operating profits of £600 million.
The figure, which was revealed by the Daily Express, equates to a profit of £1,200 every minute and comes in the wake of double digit price increases for consumers, which have already been slammed by consumer groups.
Now MPs John Grogan and Peter Luff have joined the chorus of condemnation and have questioned the justification for the higher tariffs.
Mr Grogan said: "People are going to be very angry indeed to see profits on this scale at a time when millions of people are struggling with their bills.
"I have pensioners in my constituency who just don’t get out of bed now because they can’t afford to heat a room - and children who don’t have a warm room to do their homework in."
Alongside British Gas, npower, Scottish Power and EON have all confirmed increases to their gas and electricity tariffs, which average around 15 per cent.
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