British Gas owner Centrica reports £1.3bn profit

British Gas owner Centrica reports £1.3bn profit

British Gas owner Centrica has reported operating profits of £1.3bn in the six months to 30 June, down 19% on the same period last year.

The results include a 54% fall in operating profits at its residential energy division, British Gas, to £270m.

British Gas says higher wholesale gas prices are responsible for the fall in profits.

The news comes as the firm prepares to raise gas prices by 18% and electricity prices by 16% in August.

Higher bills

The increase will push up the average bill for around nine million customers by £190 a year.

Richard Lloyd from consumer group Which? warned that customers would be angry.