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High supply costs hit Centrica profits

21 Feb 2014 12:00 AM | Anonymous

Centrica, the owners of British Gas, have revealed a 2 per cent drop in profits over 2013 after rising supply costs for electricity and gas reduced revenue.

The energy giant announced that overall operating revenues fell to £2.695 billion due to a combination of factors including rising costs, a increasingly challenging market and a fall in customer numbers with business and residential customer accounts lower by 1 and 2 per cent respectively year on year.

The main UK energy companies are all expected to see a reduction in customer numbers towards the end of 2013 due to negative PR surrounding rising energy bill costs.

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