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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.