Centrica, the company which owns British Gas, has said its energy prices are not expected to change for the rest of the year.
In an interim management statement, the company revealed that the potential price freeze simply reflects the competitive market and wholesale price environment. Mild winter weather has also affected energy usage across the board, pushing the average British Gas residential energy bill down by around 10%.
“The combination of mild weather and our expectation that we will not change energy prices this year, means the average British Gas household energy bill is expected to be lower in 2014 than in 2013," said Sam Laidlaw, Centrica chief executive.
The company is also making headway in helping customers manage their energy consumption through smart connected homes systems, which Laidlaw believes is “the most sustainable way to keep bills down”.
Centrica has announced a reduced outlook for 2014 earnings, having lost around 180,000 residential accounts in the year to date. Full year adjusted earnings per share are now expected to be around 22-23p, with unspecified growth predicted for 2015.