UK’s Centrica Expects Earnings Boost From Home Energy Supply
- Ofgem allowing companies to claim more costs back from bills
- Customers unable to pay bills jump as living costs rise
Cyclists pass the headquarters of Centrica Plc at Windsor, U.K.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
The UK’s biggest energy supplier, Centrica Plc, expects “significantly higher” earnings from its household business after regulatory changes allowed it to reclaim some losses from customers who couldn’t pay their bills during the pandemic.
Full-year earnings per share are expected at about 24.7 pence, the top end of a range estimated by analysts, the company said in a statement Tuesday ahead of its annual general meeting. The boost comes after regulator Ofgem increased the allowance within the energy price cap for suppliers to recoup losses from bad customer debt.