British Fuel has introduced it should donate 10% of its income to assist its poorer prospects handle rising fuel and electrical energy payments for the “period of the power disaster”.

Forward of an anticipated rise within the worth cap on power on Friday, the corporate’s proprietor, Centrica, stated it might donate £12m this autumn into an present assist fund. Grants of £250 to £750 could be given to poorer prospects, and the pledge to donate 10% of income each six months would final at some stage in the power disaster “backdated to the beginning of 2022”, it added.

The Centrica boss, Chris O’Shea, stated: “As a accountable enterprise we need to do extra to assist our prospects throughout this troublesome time. This elevated funding in supporting our prospects provides to the monetary assist and recommendation we already supply and ensures extra grants might be obtainable as we go into this winter.

“We’re proud to have put collectively a £25m-plus buyer assist package deal, which can develop.”

The regulator Ofgem will publish its newest replace to the power worth cap on Friday, with a uniform expectation of a steep improve within the worth households pay for power.

The typical annual home power invoice is at the moment capped at £1,971, however that is forecast to hit £3,582 within the autumn and as a lot as £4,400 in April.

Centrica reported adjusted working income of £1.3bn within the six months to June – up from £262m a yr earlier – most of which got here from oil and fuel drilling.

Nonetheless, the newest supply of assist might be primarily based on British Fuel’s retail provide income, which have been £98m.

The federal government has promised a package deal of assist however there have been warnings many individuals will face vital monetary hardship with out additional assist.

The announcement got here after the top of EDF Power’s retail enterprise warned on Tuesday that the UK faces a “dramatic and catastrophic winter for purchasers” as power costs soar.

Philippe Commaret, the power agency’s managing director for purchasers, known as for additional authorities intervention, together with assist for households to insulate their houses and a VAT minimize for small companies as costs jumped to file ranges.

“We face, regardless of the assist the federal government has already introduced, a dramatic and catastrophic winter for purchasers,” Commaret advised BBC Radio 4’s As we speak programme.

“In January, half of the UK households is likely to be in gasoline poverty.”