British Gas owner Centrica warns of ‘challenging’ markets as customer losses continue. The home energy giant blamed the Government’s energy tariff cap, warm weather and falling natural gas prices for a “challenging” environment in the first four months of the year, as it lost another 234,000 UK household customers.
Telegraph 13th May 2019 read more »
Britain’s biggest energy supplier has warned of lower profits after being battered by an almost “perfect storm” of problems in the first four months of the year. Centrica, which owns British Gas, said that low gas prices, prolonged nuclear plant shutdowns, the energy price cap and unseasonably warm weather had together made for an “extremely challenging trading environment”. Centrica also disclosed that British Gas had lost a further 234,000 gas and electricity customer accounts, or 183,000 households, as the energy price cap rise led to a surge in switching. Centrica has a 20 per cent stake in Britain’s nuclear plants, which it is looking to sell. Two of the plants, Hunterston B and Dungeness B, have remained shut for longer than expected this year for safety checks.
Times 14th May 2019 read more »