Centrica and British Gas profits announcement

£992 million profit for Centrica and £166 million for British Gas - Scott Byrom, utilities manager at moneysupermarket.com, comments: "Despite two price rises this year which has left British Gas customers facing a total rise of 56 per cent for gas and 25 per cent for electricity, British Gas parent company Centrica today reports a 19 per cent fall in profits.

"With almost £1bn profit under the belt for Centrica and £166 million profits for energy giant British Gas, a 69 per cent decrease on the same period last year, this news comes a day after phenomenal price hikes of 35 per cent on gas alone and nine per cent on electricity.

"British Gas now has the most expensive standard tariff on the market at over £1300 a year - that's more than £110 a month. However, its Click Energy 5 online deal is still the best tariff in the whole of the energy market at £845 a year, saving customers £40 a month.

"British Gas has pledged not to increase prices again this year for customers on standard tariffs. I advise all customers, especially those languishing on a standard tariff, to look for the best possible deal. While online tariffs still offer the market leading deals, these products are variable and are at risk to further price hikes.

"For those less willing to take a gamble, a fixed tariff is by far the best option. However, with prices jumping up and with providers such as Scottish Power already pulling attractive fixed tariffs from the market, these fixed rates are unlikely to hang around for long. I advise Brits to act now.

"Centrica pledges to continue its commitment to tackling fuel poverty through British Gas - we welcome this and believe action needs to be taken now to prevent the number of people in fuel poverty escalating."