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British Gas Loses 400,000 Customers In Six Months

Profits have fallen at Centrica (LSE: CNA.L - news) , which owns British Gas, after almost 400,000 customers switched energy suppliers over the past six months.

Operating profit at Centrica's UK Home arm dropped by 7% whilst the company's totally revenue fell by 13% to £13.3bn.

Describing the first six months of the year as "challenging," CEO Ian Conn remains optimistic.

"The first half of the year has been demanding for Centrica, but the response has been strong and I am encouraged by the progress we have made," he said.

"I remain confident in our ability to deliver both attractive returns and underlying cash flow growth, as we continue to implement our strategy."

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Claire Osborne, an energy analyst at uswitch.com, said British Gas is still not passing on the savings it is making from lower wholesale prices to its customers and that's why many people are shopping elsewhere.

"British Gas is the only major supplier to have made three cuts to standard gas prices since the start of last year, so its standard variable tariff is the lowest among the big six," she said.

"However its best deal is still almost £290 a year more than the cheapest on the market so customers are likely to find better savings by switching to other providers (Other OTC: UBGXF - news) ."