British Gas announces 31 per cent profits rise

Citizens Advice responds to news that profits at British Gas have risen by 31 per cent to £574m for the 12 months to 31 December, 2016.

Gillian Guy, Chief Executive of Citizens Advice, said:

“Energy prices don’t add up for customers.

“British Gas’ profit increase of 31 per cent in the last year dwarfs the small price cuts passed on to consumers.

“While it is good the ‘big six’ have cut gas bills in recent weeks, significant profits and tumbling wholesale costs show suppliers could be cutting bills further and faster.

“It’s crucial the CMA investigation into the energy market finds ways to improve competition.”

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Notes to editors

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