British Gas Makes Huge Profits And Wants To Charge You Even More
Perhaps British Gas hopes that we have forgotten that they increased their profits by a staggering 98% in the first half of this year.
That wasn’t a typo. They really did make operating profits of £585m for the first half of 2010, which were up 98% on the same period last year.
And now they want to hit their customers with a 7% price hike in their gas and electricity charges.
It’s hard not to be cynical about the timing of their price rises. They say it is because of a 25% rise in wholesale energy costs since Spring. Well, why have they not announced a smaller price rise earlier then?
No, instead, they’ve been storing up their intended price rise until there were moves in the market from other big six energy suppliers such as Southern Energy.
The fact that Winter will be firmly upon us on 10th December, when the price increases come into effect, may well have something to do with it too.
So when you are wearing two jumpers, hand poised twitching upon the central heating control, at least you can get a nice warm feeling that you are helping to boost the already huge British Gas profits even more.
That £585m profit was only for the first six months. Imagine what it will be by the end of this year.
If we have another hard winter imagine how that will pour money into the burgeoning British Gas Bank account.
Now is the time for British Gas customers to vote with their (double stockinged) feet. Find a better deal while you can. Do it. Do it now.