Centrica expects annual profits to rise

British Gas has pledged to hire 500 staff to help customers with rising bills

Big Zero Report 2022

Centrica has predicted that its annual adjusted earnings will be “around the top of the range of more recent analyst expectations”.

British Gas owner said it has delivered “strong operational performance” in the first four months of the year.

The energy giant added that volumes from its nuclear and gas production assets in the UK have been “strong”.

However, there are still “uncertainties” and pressure in the market – it said: “significant uncertainties remain over the balance of the year, including the impacts of weather, commodity prices movements, asset performance and the potential for increased bad debt charges given the current inflationary pressures in the UK.”

Centrica has also committed to investing more than £50 million in creating 500 additional customer service roles in British Gas Energy, 1,000 engineering apprenticeships and an Energy Support Fund.

The scheme provides grants of up to £750 to help customers pay their energy bills.

Earlier this week, Keith Anderson, Chief Executive Officer of ScottishPower predicted that the price cap could go up to £2,900 on 1st October.

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