By Maximilian Clarke
Record October temperatures and an unseasonably warm November, coupled with a 26% hike in global gas prices, have forced Centrica (LSE: CNA) to revise its profit margins.
The mild autumn has led to a 15% reduction in gas consumption, and 12% in electricity, which undermined the energy giant’s increase in customers in the UK and significant expansion in the US.
Centrica, British Gas’ parent company’ has faced mounting criticism, leading to a record Ofgem fine of £5m over its complaints handling, along with criticism over its recent price hikes despite a healthy quarterly profit margin earlier in the year.
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