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Centrica boss hits out at Ofgem amid price row

The boss of British Gas parent Centrica has told ITV News the company will make far less profit from energy bills than watchdog Ofgem has suggested.

Chief executive Sam Laidlaw told ITV News the energy firm would make £40 profit per customer per year - some way from the £106 Ofgem says energy companies are set to make.

The company has come under pressure to cut bills after watchdog Ofgem pointed to falling wholesale gas and electricity prices.

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U-Switch: It's time savings were passed onto customers

Online energy comparison site U-Switch says despite a fall in profits, British Gas should be passing on savings to customers.

Anne Robinson from U-Switch says the 26 per cent fall is based on the weather and it was time the energy giant passed on the low wholesale prices to its customers.

She added it was clear "loyalty doesn't pay" and consumers could save as much as £200 a year by shopping around.

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