Sparks Fly as British Gas Report Record Profits

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Confused.com advises consumers to shop around for the best deal as British Gas posts profits of £595 million

Gareth Kloet, head of energy prices at Confused.com comments on British Gas' recent record profit report:

"Whilst it's easy to bash British Gas for making a profit (and let's face it, that's a big profit), it's undeniable that they have been able to do so by taking advantage of the favourable trading conditions that can be attributed, in part, to apathy.

"Falling wholesale prices and mixed messages from the regulator have meant it's been open season for Britain's largest energy supplier. Due to its nationalised legacy, British Gas benefits from a legion of loyal customers who have not yet investigated shopping around for better deals.

"After sensational conclusions from OFGEM in its Discovery Report about having an infrastructure that's simply not fit for purpose, making profits should be seen as a positive thing. This profit can be invested in securing supply in future for the UK, and upgrading that all important network which came under extreme pressure in Britain's coldest winter for nearly 30 years.

"Our advice remains consistent: if households want to reduce their energy bills, the best way of doing that is simply to use a Consumer Focus accredited energy price comparison website. Opting to pay by direct debit, switching to an online tariff and becoming more aware of their energy consumption are three easy steps customers can take to reduce their bills significantly."

For further information please contact:
Press Office
Confused.com
02920 434 398
pressoffice(at)confused(dot)com

Notes to editors

About Confused.com:
Confused.com is one of the UK's biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com has all of the 'big six' energy providers on its panel, customers can save £250* on their annual energy bill by switching with Confused.com

Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com's service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.

*Confused.com customers saved an average of £252.37 on their annual energy bill in 2008.

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