Summary
Gas group Centrica has warned that household bills may have to rise for a second time this year as it battles against rising energy costs. Centrica, which sold its AA business for pounds 1.75 billion earlier this month, warned the rest of 2004 was likely to be 'even more challenging' with margins set to be considerably lower following a 28 per cent rise in wholesale gas prices.
The company last raised household bills by almost six per cent in January but then saw its share of the residential gas market fall to 60 per cent by the end of June, down from 63 per cent a year earlier, with 12.3 million customers. Rising energy costs will affect group margins.See the full content of this document
Extract
Centrica Warns Gas Bills May Rise
Market prices for gas and electricity in 2004 are 28 per cent and 20 per cent higher than in 2003, with ...
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