The chief executive of British Gas owner Centrica pocketed a £2.4 million pay packet last year, despite the firm losing hundreds of thousands of customers as it embarked on a major jobs cull.
British Gas owner Centrica has warned that its financial performance in 2019 will be hit by the energy regulator’s tariff price cap as it reported a double-digit increase in annual operating profits.
Scottish Power has joined British Gas and three other “big six” suppliers in raising its prices to meet Ofgem’s latest cap.
British Gas has become the fourth “big six” supplier to announce it is to raise the cost of its standard variable tariff to match Ofgem’s price cap.
The energy regulator has increased its price cap on variable tariffs due to rising wholesale prices.
British Gas has announced it is to hike its electricity tariffs by 12.5% in September in a move affecting 3.1 million customers, including those on Scottish Gas.