Feb 21, 2019
Centrica says 2019 profit to be hit by energy price cap
British Gas-owner Centrica said its profit this year will be hit by the energy regulator's tariff price cap. "We have been very clear that we do not believe a price cap is a sustainable solution for the market," Centrica said. The new energy price cap came into force on 1 January. Ofgem has estimated that the cap will save 11 million people an average of £76 a year. Centrica said on Thursday that regulator Ofgem's tariff cap "Is likely to have unintended consequences for customers and competition".
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