Mass exodus: 110,000 customers left British Gas last year – were you one of them?
110,000 customers ditched British Gas and found better deals with its competitors in 2017.
Iain Conn, the chief executive of Centrica, which owns British Gas, said the reason for customers fleeing the company was due to "high competitive intensity".
Basically, customers realised they could get better deals elsewhere.
However, 3.8 million customers are still getting ripped off, paying the highest rates on British Gas' standard variable tariff.
Not only that, but with British Gas hiking its prices for standard tariff customers at the end of May, these 3.8m customers will be forking out even more!
Centrica, which released its finances to the public today, also voiced their objection to the energy price cap.
"We continue to believe that price controls in competitive energy markets are not good for customers."
"The outcome of regulations to impose a temporary cap on all default energy tariffs in the UK remains uncertain," Conn said in a statement.
The company also revealed that it will eliminate 1,000 jobs in a cost-cutting exercise.
79-year-old saved £732 by leaving British Gas
Among the 110,000 people who left British Gas last year was Constance Cuff, from Ascot, Berkshire.
At 79-years-young, Constance made her first ever energy switch, and saved £732.
"I knew I was paying far too much with British Gas – a ridiculous amount," she said.
"There is nothing to lose, you have more to gain."
Constance was smart enough to ditch British Gas and get a better deal - are you?
Most ever boiler breakdowns
The Beast from the East – which saw temperatures plunge and snow cover most of the country in Febraury and March – was also responsible for an unprecedented level of boiler breakdowns.
Centrica fixed 145,000 breakdowns in one week – the most ever in one week for the company.
The "exceptionally high number" was more than twice the normal weekly number, Centrica said.
British Gas price hike
The energy bills of millions of British Gas customers are to go up by an average of £60 to £1,161 a year.
The new prices will come into effect on May 29.
This is the second time British Gas has upped its prices within the past seven months.
It raised its prices by an average of £76, in September 2017.
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