Responding to news that Centrica made operating profits of £516 million in UK retail energy supply in the six months to 30th June 2016, Claire Osborne, energy analyst at Uswitch.com, says: “These healthy profits could suggest that British Gas has benefited from low wholesale energy prices, particularly during a time in which it lost a staggering 400,000 customer accounts to rivals.
“British Gas is the only major supplier to have made three cuts to standard gas prices since the start of last year, so its standard variable tariff is the lowest among the big six. However, its best deal is still almost £290 a year more than the cheapest on the market, so customers are likely to find better savings by switching to other providers.
“Energy suppliers big and small continue to eat away at British Gas’ market share. The only way that British Gas can start to win back customers is by launching new, competitive deals.”
FOR MORE INFORMATION
Jason Wakeford
Phone: 0203 872 5612
Email: jason.wakeford@uswitch.com
Twitter: @UswitchPR
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