The head of Centrica, the owner of British Gas, has openly admitted to the BBC that his annual pay of £4.5 million for the previous year is "impossible to justify." Chris O'Shea, reflecting on his

salary, bonus, and shares package, acknowledged the significant sum and expressed his awareness of being incredibly fortunate.

During an interview with BBC Breakfast covering various topics, O'Shea addressed concerns about fixed standing charges and the escalating costs of gas and electricity that have contributed to the financial challenges faced by households. However, when the conversation shifted to his own compensation, he conceded that attempting to justify such a sum was futile.

"I'm incredibly fortunate," O'Shea stated. "I don't set my own pay; that's set by our remuneration committee. You can't justify a salary of that size. It's a huge amount of money to anyone looking at it."

Recognizing the financial struggles of customers, he drew attention to the presenters' salaries, which surpass the average wage, emphasizing that they, too, don't determine their own pay.

O'Shea, who had previously declined a £1.1 million bonus in 2021 due to customer hardships, faced criticism when his latest bonuses were disclosed in March. Centrica defended the bonuses, attributing them to O'Shea's delivery of "shareholder value" and his handling of "regulatory and political issues."

The acknowledgment comes in the wake of an investigation revealing British Gas debt agents breaking into homes to install prepayment meters, prompting a temporary ban on such fittings. Centrica's 2022 profits reached £3.3 billion, boosted by soaring oil and gas prices following Russia's invasion of Ukraine, with the retail arm of British Gas contributing £150 million to this total. Photo by  John Grayson, Wikimedia commons.