Bills increase costs Centrica custom
BRITISH Gas group Centrica admitted today that it is losing more customers than it had expected after it cranked up household gas and electricity bills by nearly 6% in January.
The company also said high wholesale energy prices will hurt group profit margins.
Speaking at the company's annual meeting in London, chief executive Sir Roy Gardner said: 'The impact on British Gas Residential's customer churn levels as a consequence of its January price increase has been slightly higher than had anticipated.
'There has been a net reduction of 220,000 energy accounts in the first four months of the year.
'Wholesale gas and electricity prices have continued to rise and are now 20% and 14% respectively above levels anticipated when the last price increase was announced.
'As a result, British Gas margins are expected to be lower than previously anticipated.'
