Centrica, which owns British Gas, is cutting 4,000 jobs, after what its chief executive called a "weak"

end to 2017.

Iain Conn said plans for a price cap in the UK was one reason for the job losses, just over half of which
will be in the UK.

The energy supplier, which also operates in North America and Ireland, said group profits fell 17% to
£1.25bn.

British Gas lost 750,000 domestic customers in 2017.

That amounts to a fall of about 9%, with the company now left with 7.8 million UK domestic
customers.

'Intense' competition

Centrica said the job losses, which are part of an extended cost-cutting programme, would fall mainly
in its UK energy supply business.

Investment in technology and the simplification of core business processes would result in cost
savings of £1.25bn per year by 2020, the firm said. It also expects to create around 1,000 additional
roles.

Mr Conn told the BBC the job losses were also due to "intense" competition and partly due to
customers using more digital services.

But he said government plans to limit what firms can charge customers also played a part.

"There is a link between our cost efficiency programme and preparing for any price cap in the UK.

"We've got to be competitive and this measure means we've got to drive more efficiency."