Centrica announces British Gas profits dropped six per cent in 2013

British Gas profits have dropped six per cent to £571m in 2013 according to the latest report from its parent company Centrica: By comparison, last year the profits stood at £606m.

Despite the loss in profits however, Centrica's overall revenue in 2013 rose 11% to £26.6bn, with British Gas also seeing a rise in revenue.

*Between 1 July and 31 December 2020, people who have switched energy supplier for both gas & electricity with Uswitch saved an average of £216

Should politicians interfere with the energy market?

Centrica's new chairman, Rick Haythornthwaite, took the profits announcement as the perfect opportunity to point out political bickering surrounding the energy sector and 'difficult market conditions' were putting not only the energy industry, but the entire country in danger.

Centrica chairman, Rick Haythornthwaite, said: "I think it's immensely damaging not just for Centrica but for the nation.

"I think the reputation of Britain as a place in which to invest is under threat and the time to correct that is now not after the 2015 election, by which time the possibility of the lights going out in Britain will be looming much larger.

"And I don't see this as the figment of a scaremonger's imagination.

"I think right now we've got to restart collaborative, constructive dialogue around these key issues, we cannot afford to wait, hostilities have got to cease."

Aside from political issues over energy prices and bills, British Gas also claimed the milder weather had played a part in the drop in profits.

Centrica's operating profits across all divisions also fell two per cent to £2.695bn.

British Gas is the largest of the UK's 'Big Six' energy suppliers and provides more than 15.2 million customers with gas and electricity.

The firm did however lose 362,000 customers last year,  with the firm's energy bill price hike of 9.2% no doubt playing a part in a number of those lost customers switching to another supplier.

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Les Roberts - Energy Expert at UKPower

Les Roberts - Energy Expert at UKPower

If you’ve got an issue with your energy supplier, our consumer champion Les is on hand to help. A decade in consumer affairs means Les understands how confusing energy tariffs can be, so he'll cut through the jargon to help make sure you get the best deal.