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Centrica rises on benign price cap proposals

Centrica rises on benign price cap proposals

Shares in British-Gas owner Centrica (CNA) closed the day trading up 5 per cent, after energy regulator Ofgem published details of a price cap on standard variable tariff energy bills that was higher than analysts had been anticipating. The regulator proposed a cap at £1,136 per year for a typical dual fuel customer paying by direct debit. All but one of the 11 largest suppliers charge rates above this level, but analysts had expected the cap to be marginally lower. RBC Capital Markets put the consensus at £1,130, with a range of £1,101-£1,166. 

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