Profit margins at big six energy firms hit highest level on record

Average pre-tax margin rose to 4.48% in 2016 despite falling wholesale and environmental costs, says Ofgem data - weeks after British Gas raised pricesProfit margins at the big six energy providers have hit the highest level on record, according to regulator Ofgem, in data that comes just weeks after British Gas raised some prices by 12.5%.The Ofgem data reveals that the average pre-tax margin among the major power companies rose to 4.48% in 2016, up from 4.15% the year before and just 0.89% in 2009, when the regulator first began collecting figures. Continue reading...