British Gas doesn't expect energy prices to rise in 2014


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Centrica, the owner of big six energy supplierBritish Gas, has stated that it expects to keep gas and electricity prices at the current level for the remainder of 2014.

The announcement came as it admitted that British Gas had lost 180,000 residential accounts since the beginning of the year - leaving customer numbers at their lowest levels for at least eight years.

Customers figures for its service offerings - i.e. boiler maintenance - have also dropped - by  100,000.

Meanwhile, British Gas's profits are expected to fall this year as a result - by around 25 per cent to £425 million.

The company commented on the prospect of its residential energy prices remaining unchanged. It stated: "Assuming that energy market conditions remain benign, and recognising the competitive conditions in the UK energy supply market, we do not currently expect to change our residential energy prices during 2014."

Like many suppliers, British Gas raised its energy prices last winter (2013). Its dual-fuel prices increased by 9.2 per cent. However, these prices were later reduced at the start of this year - by 3.2 per cent - as a result of the reduction in green levies implemented by the government.

Other big six energy suppliers have moved to freeze energy prices. SSE stated that it would freeze domestic gas and electricity prices until 2016.

When questioned why it wasn't taking similar action, British Gas finance chief told the Mirror: "Different companies follow different strategies."

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