British Gas owner sees profits rocket 300% to £3.3billion as energy bills soar

British Gas owner Centrica has revealed its profits hit £3.3billion last year as millions of Brits struggled to heat their homes.

This is triple the massive £948million the energy giant made the year before – and surpasses the previous highest ever yearly profit of £2.7billion in 2012.

It comes as energy bills are due to rise again in April, when the Energy Price Guarantee will be hiked from £2,500 a year for the typical household to £3,000.

Energy prices have soared in recent months following the Russian invasion of Ukraine, resulting in astronomical profits for energy companies.

Centrica said the majority of its bumper earnings came from its nuclear and oil and gas business, rather than from British Gas which made operating profits of £72million.

It also comes after British Gas was criticised after an investigation by The Times found the energy giant had used debt collectors to “break into” the homes of vulnerable customers.

Unite union general secretary Sharon Graham said: “British Gas owner Centrica has been coining it in from our massive energy bills while sending bailiffs to prey on vulnerable consumers the length and breadth of the country.

“These energy companies are showing us everything that is wrong with the UK’s broken economy.

“Rishi Sunak should get a grip – pull the plug on rampaging energy profiteering, impose a meaningful, tough windfall tax and give the NHS a pay rise with the proceeds.”

Shell profits soared to an eye-watering £32.2billion ($39.9billion) last year, while BP profits hit a record $27.7billion (£23billion).