Lowest profits in 3 years for British Gas

British Gas is due to announce its profits and they will be the lowest the company has seen for three years, it has emerged.

The amount expected to be revealed this week will be £550 million which equates to around £50 per household each year.

Despite the dip in profits for British Gas, Centrica, its parent company, it set to report an increase of £2.5 billion, profits.

It comes after EDF Energy announced that its Group profits had risen to £1.6 billion last week, despite an 8% drop in sales in the UK for the past year.

In a recent survey carried out on behalf of pressure groups, 70% of respondents said a levy should be imposed on energy firms reporting high profits and it should be ring fenced in order to help those unable to heat their homes.