Wednesday , June 26 2019

Centrica maintains outlook as customer defections slow

Bloomberg

Centrica Plc kept its full-year outlook and said the rate of customers leaving the UK’s biggest energy supplier is slowing. Shares rose the most since September.
The utility still sees adjusted operating cash flow for the full year of between 1.8 billion pounds ($1.38 billion) and 2 billion pounds, it said in a trading statement. Centrica lost 234,000 energy accounts in the four mo-nths through Ap-ril, compared wi- th 372,000 in fo-ur months thro-ugh November.
The governme-nt-imposed cap on consumer energy bills hit profits in the first quarter to the tune of 70 million pounds this year.
Britain’s energy market regulator boosted the cap on how much utilities can charge customers for electricity and natural gas to 1,254 pounds in February.

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