Centrica reports strong trading

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

Leading UK energy supplier Centrica has reported strong trading over the first half of the year.

The company, which owns British Gas, says that trading has risen as a result of "ongoing low spot gas prices" in the UK.

Its forecast results for the half year have been improved as a result - and analysts expect full-year profit to rise from £1.2 billion to £1.7 billion.

In early trading, the company's shares fell slightly by 2.125 pence or by 0.55 per cent in a generally lower London market.

The trading update released update did not address rumours that the company might be the subject of a possible takeover bid - with Russian firm Gazprom said to be eyeing the UK's largest energy provider.

In May of this year, the company said that it expected full-year profits to come in above forecast "due to the significant out-performance already seen in the first half".

The Windsor-based company has cut its prices twice over the year so far and it has boosted its residential customer base to the 15.8 million mark.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.