Centrica expect 2011 losses

The owners of British Gas have announced likely reduced profits for this year and are blaming the milder weather. According to Centrica’s Interim Management Statement, average residential gas consumption was […]

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By Tom Gibson

The owners of British Gas have announced likely reduced profits for this year and are blaming the milder weather. According to Centrica’s Interim Management Statement, average residential gas consumption was 17% lower than for the same period in 2010 and average residential electricity consumption was 3% lower.

Centrica announced that average consumption by business customers has also been affected by the mild weather, which together with the impact of economic conditions has led to a reduction in consumption of 15% for gas and 12% for electricity.

The company also announced a drop in their customer numbers, but wouldn’t clairify how many they had lost. Some reports claim British Gas have lost 200,000 since they announced their price rises in August.