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British Gas Profits Soar in 2023: Are You Getting the Best Energy Deal?

In a year marked by economic upheaval, British Gas has reported a staggering ten-fold increase in profits, hitting the £750 million mark for 2023. This significant financial upswing comes in the wake of Ofgem's decision to allow the recovery of substantial losses incurred due to geopolitical unrest.

An analytical businessman reviews energy contracts amid a backdrop of financial growth charts, symbolizing the evaluation of energy costs in response to British Gas's reported profit surge.

While this is a notable turnaround for British Gas, it poses a critical question for consumers and businesses alike: with such profits, are customers potentially overpaying for their energy?

British Gas's Profit Surge: A Closer Look

The leap from £72 million to £750 million in profits is no small feat. This has been largely facilitated by Ofgem’s regulatory support, allowing British Gas to recoup £500 million following the economic impact of Russia's invasion of Ukraine.

Despite this profit for British Gas, its parent company Centrica saw a decrease in overall profits by 17%, totalling £2.8 billion. Chris O’Shea, Group Chief Executive, underscored the company's focus on customer aid during these trying times, with a promise of £140 million directed towards customer support.

What This Means for Your Business's Energy Bills

As British Gas celebrates a year of fruitful returns, it's crucial for businesses to scrutinise their energy contracts. Are these increased profits a sign of higher costs being passed down to consumers? Could your business secure a more competitive rate elsewhere?

Finding Cost-Effective Energy Solutions with Smart Energy Co.

At Smart Energy Co., we specialise in analysing the market to find the most advantageous energy contracts for our clients. Our dedicated team understands that, especially during times of market volatility, securing a fair energy deal is more important than ever.

Our Services Include:

  • Comprehensive Market Analysis: We keep our fingers on the pulse of energy market trends, ensuring you're not caught off-guard by shifts in pricing.

  • Tailored Energy Contracts: Your business is unique, and your energy contract should reflect that. We offer customised solutions designed to maximise your savings.

  • Ongoing Support and Advice: Navigating the energy market can be complex. Our experts are here to guide you every step of the way.

In light of British Gas's profits, it's an opportune moment to reassess your current energy contract. With Smart Energy Co., you have a partner committed to finding you an energy deal that ensures you're not paying over the odds.


While British Gas's profit increase is a testament to their corporate resilience, it's essential to ensure that resilience doesn't come at your expense. Let Smart Energy Co. empower your business with an energy contract that's not only cost-effective but also tailored to your specific needs.

For a no-obligation review of your energy bills and to explore how we can help save your business money, reach out to Smart Energy Co. at 0151 459 3388 today.

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Have More Questions?

  • Is it possible to change multiple business utilities at the same time?
    Our switching service allows you to switch multiple utilities simultaneously. We have successfully assisted multiple businesses in the UK by helping them save on various services such as energy and water with savings within 2023 already over the £2 Million mark.
  • How much can I save on my business utility bills?
    The amount you can save on your business utility bills will depend on various factors such as your current usage, the rates offered by different providers, and the specific deals available in your location. However, our switching service is designed to help you find the best deals and save as much as possible. By comparing multiple suppliers and negotiating competitive rates, we aim to maximise your potential savings. Get in touch with us to discuss your specific needs and get personalised information on potential cost savings for your business utility bills.
  • How does switching business utilities work?
    Switching business utilities involves a straightforward process. Here's a general overview of how it works: Evaluation: Start by assessing your current utility bills and usage patterns. This will give you an idea of your current costs and help identify areas where savings can be made. Comparison: Use a switching service like ours to compare different utility providers in your area. We provide you with quotes from multiple suppliers, allowing you to compare prices, contract terms, and services offered. Selection: Based on the comparison results, choose the utility provider that best meets your needs and budget. Consider factors such as price, customer reviews, contract terms, and any additional services or benefits offered. Contract Negotiation: Once you've chosen a new provider, our team can help negotiate the contract terms and rates on your behalf. Switching Process: The switching service will coordinate the transition with your current supplier and the new provider. This may involve submitting termination notices, arranging meter readings, and scheduling the activation of new services. Enjoy the Savings: After the switch, you'll start receiving services from your new provider, typically at the agreed-upon rates. You will notice savings on your utility bills, providing you with cost advantages for your business. Remember, the exact process may vary depending on the type of utility you are switching, but our switching service aims to simplify the process and assist you at every step.
  • Who are the cheapest business utility providers?
    As market conditions and prices fluctuate regularly, it's challenging to provide an up-to-date and definitive list of the cheapest business utility providers. The prices we provide you are valid and available on the day of the quote and will provide most current and competitive deals available. Our switching service helps you compare prices and offers from multiple suppliers, ensuring you have the most accurate and relevant information to make an informed decision about your business utility provider.
  • What is energy procurement?
    Energy procurement is the process of sourcing, negotiating, and securing energy contracts to meet the specific needs of a business. It involves analysing energy consumption patterns, understanding market trends, and negotiating with suppliers to obtain the best possible rates and contract terms.
  • Why is energy procurement important for my business?
    Energy procurement ensures that your business secures energy contracts that are both cost-effective and aligned with your operational needs. Proper energy procurement can lead to significant cost savings, budget predictability, and reduced risks associated with volatile energy markets.
  • How does The Smart Energy Company help with energy procurement?
    We specialise in analysing your energy consumption, understanding your specific needs, and leveraging our relationships with over 20 suppliers to negotiate the best possible contracts on your behalf. Our team ensures you get optimal rates, flexible terms, and contracts that align with your business goals.
  • How do you ensure I get the best energy rates?
    Our team continuously monitors the energy market, staying updated with trends, price fluctuations, and supplier offerings. Coupled with our in-depth analysis of your energy needs and consumption patterns, we negotiate with suppliers to secure rates that are both competitive and suited to your business.
  • Are there any hidden fees associated with your energy procurement services?
    Transparency is a core value at The Smart Energy Company. We provide a clear breakdown of any commission we earn as a company when you come to agree any new energy contract. This is typically included as an uplift in your unit rate and paid to us by the supplier you chose to go to. Our primary goal is to secure the best energy deals for you, with no hidden costs.
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Why not schedule a complimentary consultation with one of our energy experts today? Let's find the perfect energy solution tailored to your business.

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Very helpful, quick expert advice. We have been using Smart Energy for a while.


Ian Hughes

Operation Manager

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