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Being An Energy-Only Supplier, "Unlikely To Be An Attractive Business Model Moving Forward", Centrica Chief Executive Says

February 20, 2019

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Reporting by Paul Ring • ring@energychoicematters.com

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In discussing the company's strategy in reporting preliminary results (see story here on results), Iain Conn, Group Chief Executive, Centrica plc cited challenges and opportunities facing the company as a result of a changing energy sector, including decarbonization and changing customer demands and behavior

Noting that energy use per unit GDP is declining in Centrica's core markets, Conn said, "We must provide more than just commodity energy supply."

Conn further cited, "specific regulatory issues in both North America and in the U.K.," including price controls in the U.K.

As a result, "being only an energy supplier is unlikely to be an attractive business model moving forward," Conn said

Adding new services will be an important differentiator for companies with Centrica investing in connected home and related offerings (Hive, etc.) at the consumer level, and a wide range of integrated solutions for businesses' energy management, as previously reported.

For consumers, Centrica sited energy supply as an entry point for services (HVAC, warranty, etc.), which is then a further entry point for "peace of mind" offerings, home energy management, and home automation

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