Jul 31, 2018

British Gas owner Centrica loses more customers

British Gas owner Centrica lost 340,000 customer accounts in the UK in the first half of this year, group chief executive Iain Conn has told the BBC. His comments came as Centrica said operating profits at its consumer business fell 20% to £430m in the six months to the end of June. British Gas still has 3.5 million customers on standard variable tariffs. The continuing fall in customer numbers and the number of services they buy will be a disappointment to the company that has been trying to stem the decline by offering new services, including allowing customers to monitor and manage their energy usage through mobile phone apps. That push towards connected services has seen some growth but if the acid test is whether customers want to stay with you - British Gas is failing. Centrica is much more than just British Gas, of course - it also has businesses in the US and Europe but overall performance has been roughly flat.

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