The privatisation of British Gas was supposed to be a great equaliser: in 1986, the British government released its “Tell Sid” ad campaign, in which various moustached men (and one old dear) reminded each other how easy it was to buy shares in the company. Two million people took advantage of the offering, buying up 64 per cent of the company.
Last month British Gas – now called Centrica – reported that its profits quintupled in the first six months of 2022, and that it is reinstating its dividend for the first time since 2020. Centrica isn’t the only one profiting: on August 2, BP announced similarly impressive results: underlying profits more than trebled to $8.45bn (£6.9bn), and it raised its dividend by 10 per cent.
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