Cold weather boosts Centrica performance

<p>Centrica’s performance has been strong so far this year.</p>

British Gas owner Centrica has stated it is having a strong year so far as a result of the extremely cold winter weather experienced by much of the UK.

The company revealed in its interim management statement that the number of accounts in its residential energy supply business increased by 28,000 over the first four months of 2013.

Average residential gas consumption was 18 per cent higher in the first four months of 2013 than in the same period in 2012, it was noted by the firm, which also pointed out that average residential electricity consumption was three per cent higher.  

"Recognising the economic pressures facing many of our customers, the board has determined that any benefit arising from the exceptionally cold weather will be used to maintain our price competitiveness," said a statement from the company.

Following the release of the interim management statement, Centrica's share price has risen slightly in the early stages of this morning's (May 13th) trading.

Its stocks are selling for 379.20 at 08:17 BST, up 0.45 per cent on the start of the day.

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