One Point Three Billion Pounds Profit

[Stargazer]

was made by British Gas (Centrica) last year. How is that written in numbers? Why can't that be handed to domestic gas users?

[klazomaniac]

1,300,000,000

[Untitled]

because it's profit and the shareholders want it instead.

[JimF]

Remember when there weren't any shareholders?

[naomi24]

You neglected to say that shareholders invest their money in companies - and the companies use that money to benefit/improve/expand the business. People don’t invest to give it away. They are not a charity.

[Untitled]

British Gas shareholders are making fivefold profits on last year... which were still pretty handsome...

obviously that's how we've set up our energy industry so they aren't really to blame... but it does seem a bit ridiculous that one of the biggest energy suppliers in the country... which was built with public money... has no obligation at all to help consumers!

[Old_Geezer]

But at that level of profit it is clearly overcharging, the return is too great, especially given the abominable service given for the fees charged.

[JDavis]

Untitled and OG,

Quite agree. And it exacerbates the already obscene gap between haves and have-nots.

[Hopkirk]

If BG subsidised the domestic market and put the opposition out of business, would that be fair?

[ToraToraTora]

0.13E10

[barry1010]

Am I right in thinking that every gas supplier, such as Bulb, Edf, Eon, in the UK buys its gas from Centrica?

[FatticusInch]

…..yet people wonder why there’s talk of a general strike?
Corporate greed skyrockets, those on the breadline struggle further.
At these figures it’ll be a revolution, not a strike.

[bobbinwales]

There's some confusion here between British gas and centrica. BG profits fell alot. Centrica is involved in alot more things

[bobbinwales]

This explains things
https://www.ft.com/content/403426e9-c3b2-4108-bab4-ff8692e789b9https://www.ft.com/content/403426e9-c3b2-4108-bab4-ff8692e789b9https://www.ft.com/content/403426e9-c3b2-4108-bab4-ff8692e789b9

[bobbinwales]

OK. Maybe guliiver fan do the link for me... or just Google' FT centrica'

[bobbinwales]

At least 600million will go to treasury in tax including windfall so there's some good news for the public financces

[10ClarionSt]

I sometimes get the impression that bobbinwales is a major shareholder in these companies as he always seems to be trying to justify their policies and profits, just as he does with many other issues that are raised on here. Maybe he's just a natural born sychophant. Yes bobb, no bobb. Yeah but no but yeah but no. :o)

[Bobbisox1]

Those massive profits should be taxed and that money should go to help the consumers so they’d get in back in the long run

[youngmafbog]

//Those massive profits should be taxed and that money should go to help the consumers so they’d get in back in the long run//

But would you be happy if the reverse happened and they fell on bad times and your taxes went up to help them?

Some good answers from Bobb there.

[DTCwordfan]

The gas is bought by the companies in the market and then Centrica ex Transco ships it through the pipeline network for a fee/fees..... The gas is bought in a variety of ways from fixed periods to spot contracts on the supply market and at different price levels, a lot of them fixed pricing but uually with a percentage of the spot price added. Think of it as a large gas 'club sandwich' each marketer having a different profile.

[barry1010]

Aren't the profits taxed already?