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Centrica, the owner of British Gas, issued a "strong 2023 financial result" today, as the company's retail division saw a sharp jump in profits for the year.
Global Witness figures show UK production has fallen 60 per cent during a time when 1,680 new exploration licenses were granted.
British Gas scored just over 50 per cent on overall customer satisfaction
Some of the UK's biggest energy suppliers have agreed to cough up £10.8m in redress payments, after missing smart meter targets.
Centrica begins trading this week having suffered a sharp fall in its share price, with analysts calling on investors to cash in profits.
Four years of heavy losses and instability in the energy industry were upended last week when British Gas posted record profits.
London’s FTSE 100 bumped higher today after a manic morning of company earnings gave a lift to market sentiment. The capital’s premier index added 0.21 per cent to reach 7,692.77 points, while the domestically-focused mid-cap FTSE 250, which is more aligned with the health of the UK economy, climbed 0.45 per cent to 19,273.37 points. [...]
British Gas has posted record profits, fuelled by Ofgem's lucrative allowances in the energy price cap, totalling nearly a billion pounds.
British Gas is expected to post record profits next week, powered by Ofgem's decision to temporarily hike allowances for suppliers.
Ofgem has moved to make its protection rules for prepayment meter customers permanent as it continues its clampdown on the energy industry.
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