BG first-half profits rise 23%

MillicentBystander

ihateyes wrote: »

Yip as pointed out above.....

Sky report 345,000,000 profit with 15,800,000 customers.

So if you divide that its around £21.71 profit per customer.

Hardly profiteering.. remember your domino's pizza at 11.99 carries a profit of around £8.......

Per customer account. BG do NOT have 15.8 million individual customers. The distinction should be made here for accuracy.

[Deleted User]

macman wrote: »

The average weekly visit to Tesco probably brings them more profit than BG make per customer in a year...

proberbly Tescos do a bit more to earn their money than just contracting call centres ( like Circo ) for cust sevices, and meter reading companys( like G4S ) and setting the automatic billing sytems going

antrobus

MillicentBystander wrote: »

Per customer account. BG do NOT have 15.8 million individual customers. The distinction should be made here for accuracy.

I estimated on the basis of data from the Ofgem Retail Market review and the fact that there are 26.3m households in the UK, that British Gas served about 12.2m of them. Since Centrica itself states that "British Gas serves around 12 million homes" that guess looks about right. On that basis, the £522m of operating profit that British Gas Residential made in 2011 is consistent with Ofgem's rolling net margin figures of £45 per duel fuel customer, £35 per electricty customer, and £40 per gas customer.

Ofgem's most recent figures show a rolling average margin of £40 per duel fuel customer on a customer bill of £1,310, which is 3%.

bankhater_1965

Consumerist wrote: »

We all suspected it and now the truth is out.

What now for energy prices next winter?

funeral directors will be rubbing there hands again with the elderly this winter i reckon !
i wonder how many old people british gas have sent to there graves through sheer greed profit ?

MillicentBystander

Do Centrica publish BGs annual turnover?

Hundleton1

antrobus wrote: »

I estimated on the basis of data from the Ofgem Retail Market review and the fact that there are 26.3m households in the UK, that British Gas served about 12.2m of them. Since Centrica itself states that "British Gas serves around 12 million homes" that guess looks about right. On that basis, the £522m of operating profit that British Gas Residential made in 2011 is consistent with Ofgem's rolling net margin figures of £45 per duel fuel customer, £35 per electricty customer, and £40 per gas customer.

Ofgem's most recent figures show a rolling average margin of £40 per duel fuel customer on a customer bill of £1,310, which is 3%.

Nice brake down there, 3% is one hell of a tight margin. Hell I ran my own business for 10 years and I certinally would not of survived on 3%.

As has been said 3% is not masively ripping people off

antrobus

MillicentBystander wrote: »

Do Centrica publish BGs annual turnover?

Yes, £8,110m for 2011

bankhater_1965

Hundleton1 wrote: »

Nice brake down there, 3% is one hell of a tight margin. Hell I ran my own business for 10 years and I certinally would not of survived on 3%.

As has been said 3% is not masively ripping people off

any profit margin that scares the elderley not to switch there heating on in winter is massive regards to %

antrobus

bankhater_1965 wrote: »

funeral directors will be rubbing there hands again with the elderly this winter i reckon !
i wonder how many old people british gas have sent to there graves through sheer greed profit ?

As far as I'm aware there is no statistical relationship between energy prices and the level of excess winter deaths (as it is known). Besides, the level of excess winter deaths has been declining. About 25,000 a year these days, it was more like 40-50,000 a year back in the days when British Gas was in public ownership.

bankhater_1965

antrobus wrote: »

As far as I'm aware there is no statistical relationship between energy prices and the level of excess winter deaths (as it is known). Besides, the level of excess winter deaths has been declining. About 25,000 a year these days, it was more like 40-50,000 a year back in the days when British Gas was in public ownership.

the centrica group that owns british gas has made £2.5bn profit whilst we live in fuel poverty and the chairman of british gas will recieve £700,000 bonus on top of his £650,000 annual wage while alot of pensioners are scared to turn there heating on ,these people should be damm shot for such a crime on humanity
i cannot believe british gas is not responsible for no deaths over the last years due to price increasing putting the fear of god up the elderly