Скачать или смотреть British Gas owner Centrica sees supply arm profits soar on price cap boost

British Gas owner Centrica has revealed that earnings at its retail supplier business soared by nearly 900% as it was handed a price cap boost of around £500 million.

The energy giant said underlying earnings at its gas and electricity supply arm leaped 889% to £969 million in the six months to June 30 from £98 million a year earlier.

It said the result was buoyed as Ofgem’s price cap in the first half of the year – when customers saw their bills limited to £2,500 a year under the Energy Price Guarantee – allowed it to recoup losses seen a year earlier – to the tune of about £500 million.

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