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British Gas profits hit by warmer weather

British Gas has reported a sharp drop in profits for the first half of the year due to warmer weather.

Residential supply operating profit fell by a quarter to £265m, owner Centrica said. Operating profit at the parent company was down 35% at £1.03bn.

Centrica said the average annual British Gas customer bill would be £90 lower this year than in 2013.

Earlier, regulator Ofgem said the big six energy firms were set to double profit margins over the next year.

John Moylan reports.

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