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Energy Profits: British Gas Sees 889% Soar in Profits, Amidst Cost of Living Crisis

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Summary: Centrica , the owner of British Gas , reports a profit of £2.1 billion, nearly double the previous year's figures. British Gas profits have seen a tenfold increase, with £969 million in the past year. The significant profits have been attributed to changes in the price cap imposed by off-gem. Consumer groups argue that the regulatory system for energy suppliers needs an overhaul to promote competition and fair pricing. The privatized utilities sector continues to face debates on what constitutes a fair price and reasonable profit. ...