British Gas record profits are ‘sign of a broken energy system’

Record profits of almost £1 billion posted by British Gas are a sign that Britain’s energy system is “broken”, a leading fuel poverty campaigner has suggested. Simon Francis, coordinator of the End Fuel Poverty Coalition, was speaking following the news that the energy retailer had posted a record adjusted operating profit of £969 million for the first half of 2023, almost 900% higher than the same period in 2022. Centrica is not the only energy company to have announced healthy H1 results, with EDF and Scottish Power also announcing lofty profits.

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