The company that owns energy giant British Gas has reported record profits for the latest financial year, causing renewed calls for additional windfall taxes to be imposed on oil and gas firms.
Centrica reported operating profits of £3.3bn in 2022 - up from £948m in 2021. The figure also surpasses the previous record of £2.7bn in 2012.
The announcement has caused anger in the wake of a Times investigation that revealed British Gas workers forced their way into people's homes to install prepayment meters - despite clear signs they were disabled or vulnerable.
Centrica said it paid nearly £1bn in tax relating to 2022 profits. However, it also revealed it handed out bumper returns to shareholders, with plans to boost its share buyback programme by another £300m and pay out a full-year dividend of 3p a share.
BP and Shell have also both previously reported a big increase in profits as prices continue to surge around the world, exacerbated by the war in Ukraine and the COVID-19 pandemic.
It's not the first time an energy company has reported such high profit. Last year, BP made a profit of £10bn and admitted it has "more cash than we know what to do with it". The excess money was used to reward shareholders.
Meanwhile, Shell has reported record operating profits of £7.2bn in 2022.
There has been criticism of the firms for profiteering when UK households grapple with sky-high energy bills, but companies would argue until recently they were losing money following a collapse of oil prices in 2020. At one point during the pandemic, prices fell to negative figures for the first time in history.
In the space of just over a year, 31 smaller energy companies collapsed, underlying the volatility of the industry, because following the spike in wholesale prices they could not increase costs higher than the price cap (which was designed to protect consumers).
Spain and Italy imposed such a tax last year.
After a raft of record profits was announced in February, shadow climate secretary Ed Miliband hit out at the government and again promised Labour would introduce a "proper" windfall tax on energy companies.
"It cannot be right that, as oil and gas giants rake in the windfalls of war, Rishi Sunak's Conservatives refuse to implement a proper windfall tax that would make them pay their fair share," Mr Miliband tweeted.
"Labour would use a real windfall tax to stop the energy price cap going up in April."
Labour's shadow chancellor Rachel Reeves also said in January her party would extend the windfall tax again to help households and businesses facing further energy price hikes in April.
Oil and gas companies already pay an elevated rate of corporation tax, at 30% on their upstream profits - compared to 19% for most other companies.
They also pay a "supplementary charge" of 10%, so the sector was already being taxed at more than twice the rate of a typical business.
There are also concerns it could deter investment in the North Sea and would leave the UK even more reliant on oil and gas from overseas. With the UK trying to wean itself off Russian imports, this could see prices rocket even further.
One of the most famous examples of a windfall tax in the UK was one announced by then-Chancellor Gordon Brown in 1997 when the privatised utilities were hit for around £5bn to pay for New Labour's "welfare to work programme".
Mr Brown introduced a windfall tax on more than 30 companies that had been privatised by previous Conservative governments.
Among them were Scottish Power, BT and BAA.
Labour said these companies had been undervalued when they were privatised and the tax raised £5.2bn over two years.
In 1981, the Conservative government imposed a similar levy on banks, arguing they had benefited from high interest rates.