Underlying profit for the first half of 2015 is in line with management hopes although lower than in the previous year, following a new five-year regulatory settlement that drove down customer bills.
Regulatory reforms demanded by Ofgem have cost an extra £5 million as the industry has had to make its pricing easier to understand.
However, the company has gained £20 million in lower financing costs, as much of its debt is index-linked to the Retail Prices Index.
