Centrica profits to spark anger

CENTRICA, the UK’s biggest energy supplier, is expected to generate a storm of controversy this week by announcing pre-tax profits for last year of £2bn.

Results on Thursday are likely to show Centrica’s firm British Gas made £740m in profits last year, up from £595m the year before.

Ofgem, the industry regulator, is due to conclude a review of the retail energy market next month and criticism of Centrica’s profit could spark a full competition inquiry. Critics are likely to point out December hikes for gas and electricity prices.