British Gas’ energy supply unit on track for full year

Suzie Neuwirth

CENTRICA, which owns British Gas, today announced that average gas consumption was 18 per cent higher in the first four months of 2013 and that it expects it residential energy supply business to meet its full-year targets.

The company said that the exceptionally cold weather over the period had also increased the average residential electricity consumption by three per cent year-on-year.

“Recognising the economic pressures facing many of our customers, the board has determined that any benefit arising from the exceptionally cold weather will be used to maintain our price competitiveness,” said Centrica.

“As a result of this decision, we expect the residential energy supply business to deliver an operating profit for the full year in line with expectations, weighted towards the first half.”

The company added that its UK nuclear fleet performed well over the period, with its share of nuclear output up eight per cent over the first four months.