Scottish Gas owner Centrica lost 107,000 household energy accounts in the four months to October as it upped its annual cost savings by £50 million.
The UK’s biggest gas and electricity supplier said it had eased the rate of customer losses, which was lower than the first half of the year.
The group also said it now expects annual cost savings of £300m from the previous target of £250m, while it is trimming planned investment spend by £100m to about £800m.
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Centrica confirmed it expects full-year results to be skewed towards the second half of the year, with the result dependent on weather and wholesale energy prices.
The company also said while UK household supply accounts fell, this was offset by stronger demand for services and homes solutions, leaving total consumer accounts 136,000 higher in the four months to October.
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Centrica’s outgoing chief executive Iain Conn, who recently announced plans to step down next year, said: “Our performance has been solid so far in the second half of the year and we remain on track to achieve our full-year targets. “
Shares lifted six per cent.
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