British Gas ads say bumper profit “good for Britain”

British Gas has taken out full-page press ads across the tabloids and broadsheets today (25 February) in an attempt to reassure consumers its record profits are “good for Britain”.

/a/m/a/britishgas160.jpg

Yesterday (24 February) British Gas reported a 24% rise in full-year profit to a record £742m, following a 7% price hike in domestic energy bills.

There has been a backlash from politicians and consumer advocates about British Gas’ profit and many have who called for regulator Ofgem to refer the sector to the Competition Commission.

Ofgem is currently investigating the profit margins of the “big six” energy providers, following a series of price rises across the sector. It is due to publish its findings in March.

British Gas says it is reinvesting its profits into helping customers by offering free insulation and credits to vulnerable people.

It also says it is boosting Britain’s job market and helping the economy by contributing over £700m to the country in tax.

The energy company says its plans to invest £15bn over the next 10 years in new energy will also help future generations.

The ad says: “British Gas is a healthy, growing British company. We believe that’s good for our customers, good for our people and good for the future energy needs of Britain.”

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here