The boss of the UK's largest household energy supplier has been forced to defend record profits amid warnings of worse times ahead for household bills this winter.
In evidence to the energy security and net zero committee of MPs, the chief executive of British Gas parent firm Centrica, Chris O'Shea, insisted the 889% surge in profits for the first half of this year were not a consequence of rip-off bills.
He explained it reflected a one-off recovery of additional wholesale energy costs the company had been forced to pay for in the wake of Russia's invasion of Ukraine, when prices hit unprecedented levels. The committee had earlier heard from a string of charities and consumer interest groups who said that record energy bills had led to almost 5,000 deaths last winter, warning that millions of households faced a tougher winter than last given many were now laden with debt.
Asked how he could sleep at night because"people are dying", Mr O'Shea said that 10% of British Gas profits had been voluntarily given to help vulnerable customers and small firms. Those representing consumers recommended direct, early support for vulnerable families through their energy bills given the continuing, and evolving, challenges posed by the widerOne suggested a priority support channel to be opened with suppliers so they could handle urgent cases in a more timely manner given frustrations over call waiting times.
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