May 8, 2017

British Gas loses more customers amid price cap row

The owner of British Gas has lost more than a quarter of a million customers since the beginning of the year. The Conservative Party has pledged to cap prices if it wins the general election on 8 June. "Centrica does not believe in any form of price regulation. Evidence from other countries would suggest this will lead to reduced competition and choice, and potentially higher average prices," it said in a trading update on Monday. "We have had a regular and constructive dialogue with the Government and have proposed alternative ways to improve the market further and address their concerns, without resorting to price regulation." British Gas said in February that it would freeze its gas and electricity prices until August, in contrast to the likes of Scottish Power, Npower and EDF Energy, which all announced increases in tariffs.

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