British Gas owner Centrica plans overhaul with 1,300 job cuts over two years

Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “While bosses talk of job losses, Centrica has added a further £497 million to its operating profits, taking the total made by British Gas and its successor company to more than £56 billion in the 40 years since privatisation.

“The results come two days before the fortieth anniversary of the Gas Act 1986 receiving Royal Assent, showing that privatisation has been good to Centrica’s shareholders and executives, but not for the consumers who have faced energy bill increases year after year.

“What’s worse, recent profits posted by the firm have been made on the backs of households struggling in energy debt, which itself is caused by unaffordable bills.

“While the short-term VAT electricity bills cut from the Government is welcome, the new Prime Minister must ensure his long-term vision for the country reforms an energy system which is severely flawed.”