Tuesday 27 September 2016

Bord Gais Energy makes a first-half profit of €32m for UK parent Centrica

Published 31/07/2015 | 02:30

Shane O’Donnell, Clare, Cian Lynch, Limerick, Conor McDonald, Wexford, and Cian O’Callaghan, Dublin, at the launch of the 2015 Bord Gáis Energy GAA Hurling U-21 All-Ireland Championship at Glendalough, Co Wicklow, in May
Shane O’Donnell, Clare, Cian Lynch, Limerick, Conor McDonald, Wexford, and Cian O’Callaghan, Dublin, at the launch of the 2015 Bord Gáis Energy GAA Hurling U-21 All-Ireland Championship at Glendalough, Co Wicklow, in May

Bord Gais Energy made a "good first contribution" to British energy firm Centrica's bottom line during the first half of the year, generating gross revenue of £400m (€569m) and a £23m (€32.7m) profit.

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Centrica revealed the performance as it issued first-half results yesterday. Bord Gais Energy was sold by the State to Centrica last year for €1.1bn.

Centrica said that it had 600,000 residential customers at the end of June compared to 608,000 at the end of December , a 1pc drop.

"Bord Gais Energy performed well, having also experienced colder than normal weather which resulted in higher than normal gas consumption," according to Centrica.

Centrica claimed a price reduction Bord Gais Energy introduced in March positioned it as the cheapest standard dual energy offering among major competitors.

JOHN MULLIGAN

Irish Independent

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