Britain's largest energy supplier Centrica is planning to voluntarily cap profits in an effort to cut household bills, the Guardian newspaper reported on Saturday, citing Chief Executive Chris O'Shea.
Register now for FREE unlimited access to Reuters.comis planning to voluntarily cap profits in an effort to cut household bills, the Guardian newspaper reported on Saturday, citing Chief Executive Chris O'Shea.
"We are prepared to offer our electricity production and our North Sea and Irish Sea gas production into this mechanism to help reduce energy bills for consumers and we hope others will follow," O'Shea said in response to a Reuters' request for comment.He did not give further details, and the Guardian said he declined to say what proportion of Centrica's profits he was prepared to relinquish.
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