British Gas owners joins Shell and bp in posting huge profits

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Centrica, which owns British Gas, has revealed large profits after energy prices soared last year in its latest accounts.
Centrica's full-year profits hit £3.3 billion (€3.7 billion) last year, more than triple the £948 million (€1.06 billion) it made the year before.
Energy firms have seen record earnings since oil and gas prices jumped following Russia's invasion of Ukraine.
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 £72 million (€81 million) out of the large profit.
Centrica said British Gas Energy profits had decreased by 39% compared to 2021's levels, which was largely down to "voluntary donations made to support customers" and the repayment of furlough funds it received during the height of Covid.
The company said it paid about £1 billion (€1.12 billion) in tax relating to its 2022 profits. Some of that was as a result of the windfall tax - called the Energy Profits Levy - which was introduced by the government last year to recoup some of the "extraordinary" earnings made by firms and help fund lower gas and electricity bills for households.

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