Centrica boss calls for social tariff

Posted at February 16, 2024 » By : » Categories : News » Comments Off on Centrica boss calls for social tariff

Chris O’Shea, the chief executive officer of Centrica, has reiterated his call for the implementation of a social tariff aimed at aiding the financially disadvantaged in accessing affordable gas and electricity.

This appeal comes in light of Centrica’s retail arm, primarily consisting of British Gas, recording a significant surge in profits, soaring from £94 million in 2022 to £799 million last year.

Mr O’Shea underscored the importance of companies generating profits to maintain their viability, emphasising the detrimental impact on households when suppliers become financially unstable, a situation that has incurred an average cost of £88 per household.

The boss of Centrica told reporters: “The poorest in society are really struggling but it’s not just the energy. It’s energy, it’s rent, it’s mortgages, it’s food and all manner of costs.

“What I’m focused on is how do we fix this in energy and that’s why we need a social tariff, that’s why we need the standing charge to disappear.”

Chris O’Shea added: “I think that’s the best thing we can do for consumers. That will reduce the cost for the poorest in society, the people that are really struggling.”

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