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British Gas has posted a record adjusted operating profit of £969 million for the first half of 2023, largely thanks to changes made to the price cap to allow the recovery of unexpected costs. The figure is almost 900% higher than the same period in 2022. Speaking on a conference call with journalists, Centrica chief executive Chris O’Shea stressed the record British Gas profit was a “one off”.
1 year ago
Affinity Water has said it is confident of meeting its leakage commitment for the current asset management period to 2025 after surpassing its leakage target for the past year. It reduced water lost by 15.8% against a target of 14%. This was against a backdrop of challenging weather worsening the conditions that cause pipes to crack and burst.
United Utilities has made its hardship hub available for everyone to use after online requests for support with bills increased 74% this year. The service is a one-stop shop for advice and schemes on paying bills, housing enquiries and debt advice from hundreds of local and national initiatives
South East Water has paid out a £9 million dividend and its chief executive has pocketed a six-figure bonus, despite a year of supply-related problems. The company’s annual results also reveal that the firm made a £74 million pre-tax loss, representing a £91 million swing compared to the £17 million profit recorded last year. Union bosses and consumer groups have questioned the appropriateness of the dividend and bonus payments, given the loss-making firm has also been blighted by performance issues.
