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105

Ed Miliband slams British Gas after obscene £969 million profit (leftfootforward.org)

submitted 1 year ago by Syldon to c/uk_politics

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The country is actually taking on more national debt to pay these profits out. We adding to the burden for the young to finance Tory donors.

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[–] Syldon 8 points 1 year ago (1 children)

British Gas Energy continued the migration of customers onto its new digital energy platform (ENSEK) during the year. As at 31 December 2022, £2.1bn of revenue (2021: £0.4bn) was recognised from customers on this platform. Revenue from customers on the ENSEK platform is presented within the overall revenue figure in note 4

Quote from your link. That is £400m profit just from customers that were brought in through an emergency scheme. This is also 2022 data, the article suggests that the profits are from Q1 and Q2 of this year.

The UK’s biggest energy supplier reported profits of £969m for the first six months of 2023, up nearly 900% from £98m in the same period last year.

Octopus also made a huge killing because of the cheap deal they got for taking on Bulb's customers. This is a story that is being repeated. The crime is not the profits, the crime is the lack of interest from government to protect the consumer. There needs to be an inquiry into donations Vs legislation in the next government imo.

[–] Buelldozer@lemmy.world -2 points 1 year ago

Hmmm, good information. When I have more time I'll dig deeper.