British Gas owner Centrica sees profits soar as energy bills rise

British Gas owner Centrica has posted huge profits after energy prices soared last year.

Centrica's full-year profits hit £3.3bn for 2022, more than triple the £948m it made the year before.

Energy firms have seen record earnings since oil and gas prices jumped following Russia's invasion of Ukraine.

The figures come after British Gas was criticised over its use of debt agents to force-fit prepayment meters in the homes of vulnerable customers.

The majority of the bumper profits came from Centrica's nuclear and oil and gas business, rather than from the British Gas energy supply business, which contributed £72m out of the £3.3bn profit.