Annual profits at gas firm Centrica have fallen 35% to £1.75bn (€2.4bn) in a "very difficult year" for the company, it said today.
Profits from residential energy supply were down 23% to £439m as the warmer weather meant each household spent around £100 less on bills than in 2013.
Centria owns British Gas and last year acquired Bord Gáis Energy for €1.12bn.
Iain Conn, the former BP executive who took over as Centrica boss last month, said the company would cut investments and slash costs. He has launched a strategic review of the business.
He said the group had taken the "difficult decision" to rebase its shareholder dividend. The full-year pay-out for 2014 will be 21% lower at 13.5p.
Mr Conn said: "2014 was a very difficult year for Centrica and the recent fall in oil and gas prices creates further challenge. We are cutting investment and costs in response."
