Centrica has felt the strong and painful end of a pinch this year as over 110,000 customers leave. The first four months of 2018 have seen British Gas’ owner has seen its prices increase and customers are voting with their custom. Previously, British Gas announced that its costs would be going up by 5.5% back in April.
The first quarter of 2018 hasn’t been the first time that the company has increased its prices. Back in September 2017, Centrica proposed a general price increase of 12.5% for its electricity prices. These increases have since added up to a total of £1,161 per household in annual gas and electricity costs.
Centrica and British Gas lose 110,000 customers
Since last year, Centrica has lost over 1.3 million accounts across its electricity and gas customer bases. Overall, the number of people leaving Centrica and switching to a different account is record-breaking, according to Energy UK.
The company has since attributed this fall to “high levels of competitive intensity” with the number of people leaving slowing down. Recent spells of harsh weather, particularly ‘The Beast from the East’ have increased call-outs and energy use.
In the span of a week, Centrica has conducted callouts for over 140,000 breakdowns. Increases in costs for gas and electricity are due to the installation of smart sensors and emissions targets.