LONDON: The owner of British Gas is expected to announce it raked in profits of £1.9 billion last year or £60 a second as customers were handed paltry cuts in bills.
Centrica’s predicted windfall will infuriate hard-up households who are making savings as low as 71p a week, despite wholesale costs plunging.
Energy fatcats have been waltzing off with huge profits while cutting customer bills by a measly 5% and delaying the change until the end of this month.
Critics believe Centrica raked in an extra £50million by putting off the reduction while toothless regulator Ofgem does nothing to tackle the scandal.
Shadow Energy Secretary Caroline Flint said: “If wholesale costs fall, the savings should be passed on to customers, not kept by the energy companies.
These massive profits show why the Tories and Lib Dems were so wrong to vote against Labour’s plans to give the regulator the power to cut energy prices.
