British Gas profit could trigger switches of energy supplier

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

Consumers who are angry about the huge profit announced by British Gas may be persuaded to make a switch of energy supplier in order to find the cheapest tariff.

Mike O'Connor CBE, chief executive at Consumer Focus, says individuals have a right to be perplexed by the company's decision to raise its prices while it is making so much cash.

"We need successful energy companies but consumers may look at today's profits and at recent prices rises and question how one justifies the other," he states.

The expert goes on to note the firm is one of the only power providers to offer a breakdown of its financial performance – and he suggests more transparency in the industry can only be positive.

Mr O'Connor urges the regulator to work with householders across the UK to seek middle ground on energy pricing.

Over the winter months, five of the UK's six largest dual fuel providers increased their charges.

Posted by Richard Eden

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