UK: Centrica Adds Customers at Fastest Pace Since 2001

[phantom power]

May 10 (Bloomberg) -- Centrica Plc, the U.K.’s largest energy supplier, said its British Gas unit added household customers at the fastest pace since 2001 after the company cut prices.

Residential accounts increased by 200,000 in the first four months of the year, boosting the total number of household- energy customers above 15.9 million, the Windsor, England-based company said today in a statement. Centrica reduced standard natural-gas prices by an average of 7 percent in February.

The price cut was the third since January 2009 as Centrica sought to cement its position against rivals E.ON AG and Electricite de France SA. The new customers will increase sales and help generate income in the first half, Centrica said.

“Residential energy supply is expected to perform strongly in 2010 with profit heavily weighted toward the first half,” Centrica said. The outlook for the full-year is “positive,” Centrica said.

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