Press & PR

Energy supply giant British Gas has reported record earnings for 2007, racking up over £1,000 in profits every minute.

Price comparison site uSwitch reports that the firms takings increased by 500 per cent from 2006, reaching £571 million by the end of last year.

It follows a recent price hike that saw 9.7 million British Gas customers paying 15 per cent more for their energy supply.

The firm's dual fuel deals now cost an average £1,055, up £143 from £912 in 2007.

British Gas' price hikes are estimated to have plunged 192,000 people in to fuel poverty.

Defra reports that for every one per cent rise in energy prices, 40,000 people enter fuel poverty, where households struggle to keep warm.

The organisation states that high energy prices are a principal cause of the escalating problem.

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