HC Deb 05 December 1983 vol 50 c47W
Mr. Eastham

asked the Secretary of State for Energy pursuant to the reply he gave to the hon. Member for Manchester, Blackley on 28 November, Official Report,c. 430, what was the basis for the gas profits to which he referred.

Mr. Buchanan-Smith

In accordance with normal accounting practice, British Gas report figures both for current cost operating profit before taxation and interest, and for net profit available for retention in reserves. The £188 million figure to which my right hon. Friend referred was for current cost profit retained by the corporation for 1982–83, which is the comparable figure to the net profit for the electricity supply industry quoted by the hon. Member for Manchester, Blackley, (Mr. Eastham).