Friday June 8, 11:30 AM
Recent British Gas price cuts bringing in the customers
By Mike Collins
Centrica (LSE: CNA.L - news) , the owner of British Gas, has said that annual profits might exceed forecasts as recent price cuts have
brought in 900,000 new customers, bringing the total number up to 15.8 million.
Due to lower wholesale charges, British Gas has already cut its charges twice this year, making up for the loss of customers it experienced in 2006 when prices were increased to reflect higher wholesale prices.
Centrica said that if wholesale prices stay where they are now then it was on course to beat profit forecasts for the year.
All of the energy companies have come under pressure to cut their prices as wholesale costs have decreased, but some have resisted calls for this to happen, much to the annoyance of energy watchdog Energywatch.
However, the news that British Gas has signed up nearly one million extra customers came as a survey by consumer group Uswitch showed that the company came last in a customer satisfaction survey.
“I am glad that British Gas has cut our bills, but I’m not over the moon about the service we get,” said customer George Mills. “Last year I was seriously thinking about switching but I will probably stay with British Gas for the time being.”
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