British Gas Energy has pledged to provide help for customers facing spiraling energy costs this winter by donating 10 percent of its profits to helping struggling families.
The energy giant, whose owner Centrica recorded profits of £1.3 billion in the six months to June 2022, will donate the money to the British Gas Energy Support Fund for the duration of the energy crisis.
The money will go towards helping customers who are struggling to pay their bills.
The fund will be boosted by an initial £12 million payment, which the company says is higher than 10 percent of profits.
This is double British Gas’s previous contribution.
British Gas says this is the biggest voluntary aid package a UK energy supplier has made to its customers.
The company has contributed £18 million to the fund over the last eight months.
Chris O’Shea, Chief Executive of Centrica, parent company of British Gas Energy, said: “The current cost of living crisis requires all of us to think differently.
“As a responsible business we want to do more to support our customers during this difficult time.
“Committing 10 percent of our profits for the duration of the energy crisis will mean we can target help at those who need it the most.
“This increased investment in supporting our customers adds to the financial support and advice we already offer and ensures more grants will be available as we go into this winter.
“We’re proud to have put together a £25+ million customer support package which will grow: so far, we’ve donated £18 million to the British Gas Energy Support Fund; we contribute £6 million annually to the British Gas Energy Trust for all consumers; and an additional £2 million investment was made through the British Gas Energy Trust to fund another 20 money advice centres.”
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British Gas Energy made a £98 million pre-tax profit of its own in the first half of 2022.
Jessica Taplin, CEO of British Gas Energy Trust said: “We’re delighted to receive this financial boost from British Gas which will enable us to support tens of thousands of households in need this winter and beyond.
“As a charitable trust, we’re helping thousands of people every month who are struggling with bills including energy costs – we know that many people in debt feel they have nowhere else to turn.
“But help is often available – whether it’s through grants or through charities who provide money and energy advice.
“Advisors listen and support with household budgets and energy efficiency, they can help people access support such as unclaimed benefits as well as managing debt – this huge amount of new funding will help us to support tens of thousands more households at risk and in fuel poverty.”