Posted on: 1st August 2014 6:50pm
British Gas domestic supply operating profits have fallen following a previous price increase in 2013. Customers rushed to turn off their heating thermostats as a result of the warmer weather in an effort to save money on energy bills. This in turn resulted in British Gas profits plunging by 26% brining their profit down by £265 million in the first six months of 2014, from 2013.
Posted on: 26th March 2014 6:10pm
Scottish & Southern Energy PLC, one of the UK's big six energy providers has decided to freeze their domestic energy tariffs until 2016. This twenty month commitment comes after most of SSE's competitors raised their tariffs at the end of 2013. SSE is the UK's second largest energy provider and serves five million households. SSE chief executive Alistair Phillips-Davies has indicated that profits will suffer which will in part be offset by five hundred job cuts and the scaling back of its offshore wind farm operations. SSE estimate a saving of £100m in operational costs as a result of these measures.