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Centrica plc is an integrated energy company operating predominately in United Kingdom and North America. In the United Kingdom, it operates three segments: upstream, downstream and storage.
Centrica’s British Gas unit cuts average prices by 7%February 04 2010, 12:50pm
Centrica (LSE: CNA) said residential energy supplier British Gas has cut its standard gas prices by an average 7%, the third price cut in the past 12 months.
The move, which Centrica claims will benefit 8 million households in the UK, takes effect immediately and will save the average gas customer £55 a year.
According to Centrica, its operating subsidiary is now the cheapest gas and electricity supplier throughout Britain. Last year British Gas cut both standard gas and electricity average prices by 10%. The company’s comparison is based on consumption of 20,500kWh for gas and 3,300kWh for single rate electricity as at 4 February 2010.