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Centrica reports increased profits from protracted winter

13 May 2013 12:00 AM | Anonymous

An increased price rise of 6 percent during December 2012 led to boosted profits for British Gas, with a long winter seeing rising energy consumption levels delivering £602 million in profit.

The long periods of low temperature saw customers consume on average 18 percent more year-on-year during the first four months of 2013 compared to 2012, with the price increase coming into place just before the long winter.

British gas owners Centrica, said in a statement that: “Against a background of sustained cold weather and periods of higher commodity prices, Centrica has performed well in the year to date."

Overall profits were slightly reduced on last year’s total, however profits managed to deliver on-line with expectations, based on rising costs and the impact of the European recession.

The company has said that its ability to offer competitive energy prices has contributed strongly to the success in meeting overall profit expectations.

The energy giant has said that it will use the increased profits generated from the winter period to help to “hold prices for as long as possible."

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