Mar 26, 2024

British Gas chief's pay package jumps to £8.2m

BBC. Chris O'Shea said in January that he could not justify his pay package. The boss of Centrica, the energy giant which owns British Gas, has seen his pay package rise by almost £4m.Chris O'Shea's remuneration was £8.2m in 2023, up from £4.5m in 2022, according to the firm's annual report. In 2023 British Gas announced profits had increased tenfold to £750m after regulator Ofgem allowed it to take a bigger slice of profits to recoup £500m it lost in the aftermath of Russia's invasion of Ukraine. Ofgem sets the maximum amount suppliers can charge for each unit of gas and electricity but not the total bill - so if you use more, you will pay more. British Gas boss: 'I can't justify my £4.5m pay'.

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