Drumbeat: February 18, 2012

British Gas owner stokes profit anger

The backlash against the “big six” energy providers will intensify this week when British Gas-owner Centrica announces a profit leap in the face of growing fuel poverty and high utility bills.

Centrica is expected to unveil a group operating profit of about £2.5bn for 2011 on Thursday, up four per cent on 2010, according to consensus analyst estimates.

It comes against a backdrop of growing fuel poverty, with more than 5.5 million UK households spending at least a tenth of their disposable income on gas and electricity.

British Gas shivers as profits fall by ...

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