Centrica warns over price controls

Press Association
Updated
File photo dated 08/08/13 of the Centrica Head office in Windsor, Berks as the British Gas owner has revealed a ?571 million profit haul from its residential energy arm for 2013 months after hiking gas and electricity prices. PRESS ASSOCIATION Photo. Issue date: Thursday February 20, 2014. See PA story CITY Centrica. Photo credit should read: Steve Parsons/PA Wire

%VIRTUAL-SkimlinksPromo%Bosses at British Gas parent Centrica have warned that political intervention and price control threats increase the chance of "the lights going out" in Britain as the group revealed a customer exodus and falling residential energy profits.

New chairman Rick Haythornthwaite said political moves such as Labour leader Ed Miliband's pledge to freeze prices if the party wins power were "immensely damaging" and threatened crucial investment in the country's energy market.

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