LONDON--(BUSINESS WIRE)--

24 June 2016

Centrica looks to a new era of innovation, strengthening competition further

Centrica plc has contributed fully to what has been a thorough, in-depth and challenging investigation by the Competition and Markets Authority (CMA) into the UK energy market. We now look forward to working with regulators and other interested parties as we implement the outcome to deliver even further competition in the market to benefit customers.

The CMA began its investigation into the energy market in June 2014, and concluded that competition works well in the energy markets in many respects. Since the CMA started its investigation, competition has continued to intensify, with the number of suppliers growing from 25 to more than 40.

We have reviewed the executive summary of the CMA's Final Report and believe that many of the remedies will further enhance the market and benefit customers. The full report and appendices containing the detailed analysis will be available later today. We will review these carefully because precisely how the headline remedies are designed and implemented will be critical in determining the degree to which they will benefit customers.

Following the publication of the Final Report we will continue our focus on developing innovative products, giving customers in the UK more choice and competitive offerings.

Iain Conn, Chief Executive of Centrica plc, said:

'Delivering for the changing needs of our customers is at the heart of what we do at Centrica. We are determined to ensure that our company and the market in which we operate best serve consumers of energy and services.

'Our focus now is to understand in detail how these remedies will be implemented and to work to create an even more effective market for those customers.'

Enquiries:

Investors and Analysts:

tel: +44 (0)1753 494900

email: ir@centrica.com

Media:

tel: + 44 (0)1753 494105

email: media@centrica.com

View source version on businesswire.com:http://www.businesswire.com/news/home/20160624005197/en/

Centrica plc

Source: Centrica plc

Centrica plc published this content on 24 June 2016 and is solely responsible for the information contained herein.
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