British Gas could offer additional cheap energy rates - 27/02/2009
The chief executive of Centrica, British Gas' parent company, has revealed that the energy supplier may offer more reduced prices later in the year, reports the Daily Mail.
Sam Laidlaw said that the company may be in a position to cut prices once again in time for next winter if wholesale costs continue to fall.
British Gas made a substantial profit loss throughout the course of last year but has been criticised for failing to implement a cost reduction more dramatic than its recently-announced ten per cent gas tariff cut.
Mr Laidlow told the paper: "Our price cut was quite a courageous decision, given it came with quite a bit of the winter to go. We could still have a situation where wholesale gas prices run up."
He added that Centrica's profits are much smaller than figures reported by some of the UK's major supermarket chains.
Several additional energy suppliers have announced tariff reductions in recent weeks but winter will be fading by the time these cuts are implemented.
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