Rise in profits at British Gas raises questions over price cuts and policies

Despite taking their time to cut energy prices in line with the drop in wholesale energy price reductions and only doing so following significant public pressure, British Gas has just recorded a profit spike of 31%, its owners, Centrica, have recently reported.

Overall, the British Gas owner reported an £857m loss across the group after writing down the value of its North Sea assets, a news source can reveal.

Centrica CEO Iain Conn commented on this announcement: ‘The reason the profits went up in 2015 versus 2014 is actually very simple,’ he said. ‘It’s about the weather and about consumption. And we saw a very mild 2014 and we saw a more normal 2015 and therefore the amount of energy that our customers used went up and therefore the actual total profit went up.’

On the other hand, Ann Robinson, director of consumer policy at uSwitch.com said, ‘Hearing news of rising profits when wholesale energy prices have tumbled will leave many British Gas customers wondering if they’re being treated fairly.’

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While the cut in energy prices will certainly be welcomed by all British Gas customers, the truth of the matter is that being proactive in one’s energy spending and implementing a solid energy management system could prove to be a significantly better approach on the long-term.

The HeatingSave Building Energy Management System helps customers save more than 30% on their bills by optimizing any heating system’s overall functionality. This is done by taking into account a variety of factors, such as internal and external temperatures, occupancy, time of the year, the particular characteristics of installed boilers, etc.

All of the data is used in order to determine the best heating patterns for the various heating zones within any building, using our proprietary heat-loss algorithm.

The end result is that users still get a very good level of comfort, while in the same time saving energy and money in the process.

If you’d like to find out more details on all the features HeatingSave has in store, just contact our dedicated product team, they’ll be more than happy to provide you with all the necessary information.

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