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thomas davison

Poor households bear brunt of �16m payouts to gas bosses as we freeze
FIVE bosses at the owners of British Gas have shared a �16.4million payout as families face soaring bills amid freezing temperatures.
By: Mark Reynolds
Published: Thu, March 28, 2013

8-5million-British-Gas-customers-are-shivering-in-the-coldest-spring-for-43-years rs

The six per cent rise in pay, bonus and benefits for the Centrica directors was called �insensitive beyond belief� last night. It comes after British Gas reaped a profit of �606million in 2012, yet hiked bills by six per cent for 8.5 million customers now shivering in the coldest spring in 43 years.

Chief executive Sam Laidlaw raked in almost �5million, with his salary of �950,000 topped up with bonuses and long-term share awards of over �2.6million, plus benefits. Critics described the windfall as �excessive greed�.

And TUC general secretary Frances O�Grady said: �At a time when the poorest households are struggling to make ends meet and are spending over a quarter of their incomes on fuel bills, these huge payouts are insensitive beyond belief.

�We keep being told bills have to rise to pay for investment in our future energy supply. However, these figures suggest the price rises are in fact being used to fund exorbitant pay hikes.�

Outgoing British Gas managing director Phil Bentley saw his total remuneration leap to �3.1million in 2012 from �2.1million a year earlier. His basic salary was �635,000.

�16m, poor households, gas bosses, payout, freeze, weather,Chief executive Sam Laidlow raked in almost �5million

These huge payouts are insensitive beyond belief

Head of power generation Mark Hanafin, finance director Nick Luff and North American boss Chris Weston each received between �2.5million and �3million. Gary Smith, for the GMB union which represents gas workers, said: �We condemn these salaries, paid from the budgets of hard-pressed households.

�It is obscene and is the straw that could break the back of corporate excess.� Unite general secretary Len McCluskey said: �Enough is enough. This excessive greed sees casino bankers and the corporate elite running British business pocket millions while working people struggle to pay their soaring household bills. It must stop. As Britain goes through the worst March weather in half a century, the sun shines brightly on Centrica�s bosses while those struggling to pay the bills shiver.

�An increasing number of people are faced with fuel poverty where more than 10 per cent of their income goes on fuel costs.� Families are forking out an extra �2.2billion in total to heat their homes during the coldest March since 1970, when average temperatures were -2.5C (28F). Clare Francis, of MoneySupermarket, said: �Before the cold winter months really took hold, our research found that 1.4 million households were already in debt to their gas and electricity supplier � with each bill payer owing on average �128.

�Those in the red are likely to find it difficult to change supplier until the debt is cleared � and with the weather we�ve experienced this year so far that debt is more than likely to have �spiralled.�

She encouraged consumers to negotiate with their energy provider to try to keep bills as low as possible.

A Centrica spokesman said last night: �Pay and bonuses are based squarely on performance.

�In 2012, we delivered another year of consistent earnings growth and invested �2.7billion to secure energy supplies for our customers.

�In the current climate there is understandably a wider debate in society about pay differentials. We are focused on ensuring pay and bonuses are fair.�

More than 10 per cent of shareholders voted against the company�s remuneration report last year.

This year�s annual meeting is due on May 13.

Underlying earnings at the Centrica group jumped 14 per cent to �2.7 billion in 2012.

In 2012 we delivered another year of consistent earnings growth.......of course you did.

In fact it's pretty much guaranteed that you will every year when all you have to do is sit in your office and say "put the prices up by 6%"

One wonders how the lower echelon Centrica employees feel....in debt to their employer due to energy bills yet seeing their employer getting massively bonuses.

Rather reminiscent of the old days when we saw the rich lighting cigars with paper money in front of the poor who had not seen a hot meal in days.

Re-nationalize them all, Gas,Electric, Water, Transport and get these parasites off our backs, just a thought, how could the government sell off something the people own and not give them anything???????