The £4million-a-year fatcat Iain Conn denies “profiteering” and said the government were to blame for soaring fuel bills.
THE £4million-a-year boss of British Gas has claimed that Tory plans to cap energy prices could mean bigger bills for hard-pressed families.
Edinburgh-born fatcat Iain Conn also threatened to react to the planned move by sacking even more of his workers.
Conn said “we will have to look at all options” if price controls hit profits. And in words that will alarm British Gas staff, he added: “One of the choices we have is to accelerate our cost efficiency programme.”
British Gas parent company Centrica are already part-way through a cull of 6000 staff, announced in 2015.
Standard variable tariffs would be set by regulator Ofgem. Reports say the move could save households £100 a year.
But Conn and other bosses of the Big Six energy companies claim the cap could backfire. Centrica said yesterday: “Evidence from other countries suggests this will lead to reduced competition and choice, and potentially higher average prices.”