Mixed results for energy giants - 02/03/2011
Three of the country's major energy suppliers have experienced a range of results as they announced their profits for 2010.
British Gas fared the best, seeing operating profits increase to just under three-quarters-of-a-billion pounds, whilst parent company Centrica saw profits increase by 29 per cent to £2.4bn.
The energy supplier managed to increase its gas and electricity users to 16 million and is keen to reward customers by offering a cheap new online tariff that could bring a home's annual energy bill below £900 if people decide to switch energy supplier.
However, energyhelpline.com Director Mark Todd doesn't think that cheap deals like the company's new Websaver 11 tariff will be around for long, so he encourages bill payers to "act fast" to get a cheap online deal.
Meanwhile, npower has announced that its market share now stands at 14 per cent, but performance has fallen in the home and small business energy sectors due to fierce energy price competition.
However, it has seen business grow in the industrial and corporate electricity sector.
Scottish Power’s performance also dropped as they reported a 7 percent fall in operating profits for 2010 as parent company Iberdrola invested in distribution networks to improve production.
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