Ofgem enables British Gas to raise prices, resulting in £1bn profit
Chris O’Shea, the CEO of Centrica’s parent company, British Gas, has defended the company’s large profits, claiming they are an isolated incident. He argues that British Gas cannot be accused of profiteering, as its profit margins are smaller than those of supermarkets, standing at around 2%. O’Shea highlights that the company plans to invest £4 …