British Gas owner on course for eightfold rise in profits from high energy prices

Surge in earnings comes as 8 million households face fuel poverty

Centrica reopened its Rough gas storage site last year (PA)

British Gas owner Centrica is on course for bumper profits on the back of soaring energy prices that have left millions of consumers struggling to pay their bills.

The energy giant has predicted an eightfold increase in full-year profits, with earnings of 30p per share.

The profit windfall comes amid soaring oil and gas prices following Russia’s invasion of Ukraine, largely driven by sanctions on Moscow. Prices peaked in 2022 but remain historically high.