May 15, 2008 Centrica : Profits and price rises
Centrica's "management statement" set off a "storm of protest" (Times, 13 May) by issuing a strong signal that domestic gas prices will rise again this year and that the other energy suppliers would follow Centrica's lead. Tim Wolfenden of price comparison site USwitch.com warned "The situation is starting to look pretty drastic for a lot of customers…[but] this is not exclusive to British Gas" (Guardian, 13 May). Centrica's announcement explained that
profits were "materially down" but that the company would "take the necessary action to deliver reasonable profit margins" (ITV.com, 12 May).
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