UK Energy Bills Frozen By Centrica OnCold Snap Profits
By Cynthia Taylor
Centrica, Britainís largest energy supplier is to freeze customers bills, using the profits they made, from the high gas demand, during the recent cold snap.
A statement issued by the interim management of Centrica, the company will keep their energy tariffs at the current levels, because residential gas consumption increased by 18%, during the first 4 months of 2013, this is 18% more than consumption the previous year.
Centrica said that any benefits that arose from the exceptionally cold weather over the 4 months will be utilized to maintain their competitiveness in the market.
This announcement was made 6 months after they increased their electricity and gas prices by 6%.
During November 2012, SSE increased their power and gas tariffs by 9%, and EDF Energy increased their tariffs by 10.8%, that was the largest increase of the Big Six suppliers.
Over the past few years, energy suppliers including Centrica have been accused of excess profits from their supply of energy to householders that are cash strapped.
In the statement Centricia has promised to hold their prices at the current levels for as long as they possibly can.
The statement continued that the board recognized the economic pressures that faced many consumers, and this determined their decision to use the benefits from the cold weather to maintain their competitiveness.
Centrica also said that as a result of this decision, they expect that the residential supply of energy business, would be delivering an operating profit for the wholeyear,that is in line with their expectations and should be weighted towards the first half of the year.
The company forecasts that their full years earning will be in line with expectation in the market.
Head Office: EATON HOUSE, STATION ROAD, LEEDS, LS20 8XB Company Registration: 4704157 Vat Registration: 817013852