The owner of British Gas is braced for a political blow which could knock between £150m to £200m from its profits by cracking down on energy prices. Centrica will face shareholders at its annual general meeting on Monday, the same day that the Conservative party is expected to confirm plans to cap the price of standard rate energy bills. A price cap on standard tariffs could slice around £100 from household bills and slash earnings at Centrica’s supply business by £150m based on conservative estimates. The hit is a 25pc drop from the £600m in earnings before interest and tax from its supply business last year and could potentially crush its share price by 16pc to 160p.
Telegraph 6th May 2017 read more »