THE boss of British Gas’s parent company admitted that he “can’t justify” his £4.5 million pay package today.
His humble admission came as thousands of customers struggle to pay their bills.
Chris O’Shea, who runs Centrica, told BBC Breakfast that he “can’t justify a salary of that size.”
Asked why he accepts such high pay, the CEO shirked responsibility and pointed to the presenters interviewing him.
“All of us sitting here on this sofa will make substantially more than £30,000,” he said.
“It’s not for me to set my own pay. It’s not for you to set your own pay.
“When you’ve got people who are struggling — and I look at my mum who’s on the basic state pension — it’s just impossible to justify, so there’s no point in trying to do that.”
Jan Shortt of the National Pensioners Convention called the comments “astounding.”
She said it was proof of the need to bring energy into public ownership and “rid the system of not just salaries of this enormous level, but other profits going to shareholders that should, in this climate, be going towards the crippling bills that everyone is seeing land on their doorstep.”
British Gas reported a record £969m in profits in the first half of 2023.
Fuel Poverty Action accused regulator Ofgem of allowing British Gas to reap in the “obscene” earnings, pay and bonuses.
“Even British Gas is admitting Ofgem’s winter price cap is inflated, just when we need most energy to stay alive” a spokesperson said.
In the interview, Mr O’Shea indicated that if the price cap was reset now, households could see a potential decrease of over £200.
End Fuel Poverty Coalition co-ordinator Simon Francis argued that it is still up to 50 per cent more than what they were before the energy bills crisis began.
He said: “Big salaries, bonuses and dividend payouts characterise the energy industry.
“The firms that run the networks, the market traders who help set the prices, the overseas funds that control our gas grid — all of them are making profit from the misery of UK households.”
He urged the government to take action instead of “wasting valuable parliamentary time on a political Oil & Gas Licensing Bill which will do nothing to bring down energy bills or improve energy security.”
