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UK household energy bills to keep climbing on Russian gas supply woes, analysts say
Ofgem is currently carrying out consultations on the energy price cap and is expected to switch to quarterly rather than seasonal caps
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Centrica PLC
LON:CNA
Centrica plc is an integrated energy company operating predominately in United Kingdom and North America. In the United Kingdom, it operates three segments: upstream, downstream and storage.
654 stories · page 4 of 7
Centrica shares fall 1.8% despite plans to reinstate the dividend
The owner of British gas said underlying group earnings had surged 143% on the back of higher energy prices
Centrica reinstates dividend for first time since the pandemic
The owner of British Gas boosted earnings thanks to higher energy prices but was hit by extra charges related to derivative contracts
BT Group, Centrica and Barclays just three in a maelstrom of updates
Batten down, there's a flood of corporate updates on the way
Russia's squeeze on gas flows sends prices higher in UK and Europe
British Gas owner Centrica's shares edged higher amid rising gas prices caused by Russia's squeeze
Bust energy company bosses in line for £50mln payout
The founders of failed energy provider the People's Energy Company are not expected to be held liable for transfer costs to British Gas
Five at Five: FTSE 100 takes another beating, Sabre warning knocks insurers, JP Morgan disappoints, Centrica to go for it?
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Centrica tipped by second broker to reinstate dividend as household bills soar
Credit Suisse adds that for the first time in eight years Centrica will not be constrained by its balance sheet
Five at Five: Alaska drilling hopes, FTSE 100 flatlines, energy pain keeps growing but will Centrica dare pay a divi, is Twitter deal dead?
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Centrica tipped to resume dividends as household energy bills soar
Citi’s forecast comes on the day that energy consultant Cornwall Insight predicted household energy bills might rise to as high as £3,300 in January
Centrica exits race to buy failing energy company Bulb's assets - report
The exit leaves two remaining bidders in the process to acquire the bust energy company
Price cap up for review as energy customers face £2.7bn bill
Citizens Advice warned that a "market meltdown" costing taxpayers billions of pounds is due to regulatory failures
Bleak winter ahead as analysts predict average energy bill to break £3,000
Cornwall Insight forecasts the £3000 mark will be surpassed on 1 January, when the average yearly bill will be £3003
Ofgem unveils new financial measures to protect energy consumers
The British energy regulator says suppliers will be able to meet the challenges the industry faces in the coming months even as it helps customers
Centrica says sale of Norwegian assets should complete tomorrow
Spirit Energy will now focus on maximising the delivery of its gas production for the UK, repurposing assets for the energy transition and decommissioning activities.
Cadent faces 48-hour strike as workers reject pay offer that is way below inflation
“Bosses need to get their heads out of the sand and start listening to workers."
Centrica has reasons to cry foul on any windfall tax
Calls for a windfall tax on the energy companies are likely to increase after Centrica's profits guidance this morning but there are other companies that should be hit for taxes (you can Google them)
Centrica lifts full-year guidance but warns of increased bad debts
We're not even halfway through the year yet but already Centrica feels confident enough to guide towards the top end of full-year forecasts
Archive
FTSE 100 closes up but worrying backdrop remains for investors
The hay fever tablet shortage should be short lived, according to Boots
Scottish Power boss calls for £1,000 support for energy bills
Ofgem said that it is "too soon" to predict the level of the price cap from October
British Gas owner Centrica makes offer for Bulb customers
Centrica and Masdar were the only two of six companies who expressed an interest in Bulb to put forward non-binding bids
Energy suppliers call for special measures to offset October price hike
"I think the problem's got to a size and scale where it requires something significant "
Centrica, SSE and nuclear clear winners from new energy policy, says Barclays
Boris Johnson made nuclear and offshore key planks of his new energy strategy
Energy price crisis: Bleak Friday and when will it end?
Not soon in the opinion of the boss of one leading UK gas supplier
Energy websites crash in rush to beat tomorrow’s price cap hike
E.on blamed money expert Martin Lewis for its website problems
Household energy bills can hit £3,150 due to Ukraine crisis predicts Barclays
British Gas owner Centrica is one of the bank’s preferred stocks
Bulb rescue costs soar as gas price spikes higher
Bulb is the largest independent energy supplier to fail
Centrica reports surge in profits and says outlook is positive
The energy giant said it is on a "clear path" to restarting dividend payments
British Gas boss warns energy bills could climb even higher in August
Yesterday’s energy cap increase will see households pay on average an extra £693 more a year
UK energy bills to jump 54% to £1,971 from April
The government said households will receive a one-off £200 rebate on their energy bills this year to ease the pain
Octopus Energy boss ups pressure on UK government to ease energy price hike for households
The energy price cap set by regulator Ofgem is expected to rise by 50% to almost £2,000 a year from 1 April
Centrica will be in good shape once energy crisis eases, argues broker
“Once the dust settles, we believe CNA is likely to emerge stronger with less competition and an enhanced customer base.”
British Gas takes on 176,000 customers from failed supplier Together Energy
British Gas has taken on around 700,000 customers from failed suppliers since the crisis started
Centrica and Ineos back Equinor's planned hydrogen plant on the Humber
The new plant could reduce carbon emission by 30%, Equinor claimed
Centrica to emerge stronger from energy chaos suggests UBS
The Swiss bank has raised its price target to 75p from 54p
Centrica boss warns high gas prices could be with us for two years
In an interview with the BBC, Chris O'Shea, chief executive of British Gas' owner, said he saw no reason for costs to come down ‘any time soon’
UK households will see 'seismic' hit to energy bills, warns Money Saving Expert’s Martin Lewis
The government must "sort this now because if we leave this before it's too late it will be a disaster", Lewis said
UK energy industry warns domestic bills may soar 50% next year and urges government action
"We need action from the UK Treasury on this huge inflationary risk to business and economic security, and for all the ordinary people who will be facing a 50% increase in their bill," said Emma Pinchbeck, head of Energy UK
Energy companies face stress tests to avoid repeat of gas price chaos
Ofgem has been heavily criticised for its response to the UK energy crisis
Centrica E&P company Spirit Energy to exit in an £800mln deal
The net proceeds to the UK utility are £560mln, investors were told
UK 'turquoise' hydrogen innovator HiiROC backed by string of heavyweights in new funding round
HydrogenOne Capital Growth PLC, a specialist in investing in hydrogen assets, is also putting in £10mln as part of the fundraise
UK energy crisis claims four more victims
The companies were smaller operators. Analysts are predicting further failures
Bulb in danger of failing next week due to gas crisis - report
Bulb was founded in 2015 and has around a 6% share of the market
Gas crisis: UK’s Ofgem to consult on price cap amid soaring energy prices
The regulator said it will consult on the method it uses to calculate the price cap to ensure that it reflects the costs, risks and uncertainties facing energy suppliers
Gas prices drop as Putin sanctions more supplies for Europe
Europe saw a 12% following the Russian president’s directive, while UK prices fell 9%
British Gas warns energy bills will rise by £100 due to gas price crisis
A total of 14 energy suppliers have gone bust since the start of August, resulting in 2mln customers being switched to larger, more financially secure suppliers.
Gas crisis: Record energy prices claim another victim as Daligas goes bust
Daligas supplies energy to around 9,000 households and businesses and they will now be moved to other energy suppliers by regulator Ofgem.
Gas crisis: Chancellor appears to rule out government help as two more energy suppliers collapse
Meanwhile, CNG Group, which supplies natural gas to many retail energy companies, has warned that it will no longer supply the wholesale market
British Gas owner Centrica scraps investor day due to energy crisis
Centrica added that its performance since July has been in line with expectations
UK regulator Ofgem warns of ‘significant’ rise in energy prices next spring
Domestic customers are already facing a £139 increase to their annual energy bill following the latest price cap, which came into effect on 1 October
Centrica shares have done well so far this year, but one Wall Street bank thinks they will move significantly higher amid the chaos in the gas market
Morgan Stanley has upgraded its stance on shares in the British Gas parent company to ‘overweight’
Centrica target raised as gas crisis wipes out competition
Credit Suisse estimates that as many as 4.72mln customers might be forced to switch providers
Energy customers feel the chill as new Ofgem price cap kicks in
The hike in energy price limits overseen by the industry watchdog Ofgem will affect around 15mln customers in England, Scotland and Wales
Gas crisis: Prices reach new high as UK energy regulator enlists insolvency experts in case of emergency
Normally, Ofgem would pick a new supplier when another goes bust, but there are other emergency measures if it is a large company that stops trading
HSBC sees upside for Centrica as British Gas takes on customers from failing suppliers
"We maintain our ‘Hold’ rating on the stock as, despite the increase in the number of customers from failed suppliers, commodity price volatility remains a challenge.”
Gas crisis: What happens when energy suppliers go bust?
UK laws ensure that customers can keep their lights on even if their energy suppliers stop trading
Gas crisis: Avro Energy, Green add to list of collapsed suppliers
Ofgem will assign their combined 830,000 customers to new suppliers
UK energy cap could be hiked by 14% next year, experts say
The nature of the cap methodology means that some of the recent wholesale increases are already being priced in
Gas crisis: Energy cap to remain insists Business Secretary
Centrica was one of the suppliers at the meeting with Kwarteng alongside Shell, EDF, E.ON and Scottish Power
British Gas picks up pieces from fourth failed energy supplier
With four other suppliers reported to be in serious difficulty, there are predictions the number of small energy providers could shrink from 55 to just 10 by the end of the year
Centrica warns of price hikes in event of winter gas shortage - report
A long or cold winter could push natural gas prices higher and force some companies to limit production
UK energy bills to rise by £139 after gas prices soar in Europe
Ofgem adjusts the price cap twice a year based on estimates of the wholesale costs of gas and energy paid by suppliers
Centrica says first half was ‘broadly as expected’
“Although there is still a lot to achieve, our turnaround remains on track," said Chirs O'Shea
Centrica says electricity demand and boiler installation dropped in latest quarter
The British Gas owner recently fired hundreds of engineers after they refused to accept new terms and conditions
British Gas set to axe hundreds of engineers over 'fire and hire' contracts
The contracts had tarnished British Gas’s reputation said the GMB union
Centrica now "squarely in the value camp", says RBS
Although previously thought of as an income play, Centrica has not declared a dividend since 2019 and now “can be placed squarely in the value camp”, RBC asserts.
Energy regulator Ofgem clamps down on direct debit overpayments
“Suppliers should set the payments so that customers’ credit balance returns to £0 each year on the anniversary of when they started the payments”
Centrica drops final dividend as underlying profits slide
Covid-19, warmer weather and low commodity prices all hit the group
Centrica shares offer 30% more upside, JP Morgan reckons
The investment bank believe the share price outperformance is set to continue as the market appreciates the turnaround story
Centrica finance chief leaves after just seven months
The owner of British Gas has promoted Kate Ringrose to be its new chief financial officer
Centrica expects to beat earnings forecasts for 2020 but "remains cautious"
More people working from home mean business electricity demand saw a 15% negative impact in the second half, down from 30% in the second quarter
Centrica shares trade lower as workers launch strike action
Centrica shares were down 1.45% in Thursday morning's deals.
Archive
RBC bullish on Centrica after investor call
“We see underlying market conditions in energy supply as improving and CNA seems to be making progress on cost competitiveness."
Centrica shares trading in deep value territory, says JPMorgan
New management has begun to turn things around and full-year results next year the analysts "expect to see the benefits of restructuring on earnings and a strategic update"
Centrica says British Gas to snap up Robin Hood Energy customer base
Robin Hood currently serves around 112,000 residential customers and 2,600 business customers across 10,000 sites
British Gas pays out £1.73mln after pre-payment meter failings
Ofgem added that British Gas had no-one manning the indicated phone line on the day of the changeover
Energy cap to be reduced by £84 as coronavirus hits gas demand
The price cap for the coming winter period (October-March) will now be £1,042 against £1,126 currently
Centrica shares now worth buying, says Jefferies
Centrica shares are up 20% since the deal announcement but, the analysts noted, remain at a 45% discount to the sector
Centrica sells North American business as losses continue
Centrica said it would use the proceeds of the sale to reduce debt and to make a “material” contribution to its defined benefit pension schemes
Centrica plans digital-only brand to pick up lost British Gas customers
The energy firm is stepping up efforts against cheaper competitors after continued customer losses
Centrica unveils plans to cut 5,000 jobs, reshuffles board to accelerate restructuring
The British Gas owner is also planning to reduce its senior leadership team by half to create a "flatter, less bureaucratic organisation"
Carnival, easyJet, Meggit and Centrica poised to drop out of FTSE 100
Jostling for promotion to the blue chip index are Avast, GVC Holdings, Homeserve and a few others
Archive
Vodafone, TUI and Compass among key updates for coming week
The coming week will also see the latest UK GDP data as well as inflation and retail sales figures from the US
Centrica upgraded as Credit Suisse says coronavirus impacts now ‘priced in’
The Swiss bank moved its rating to ‘outperform’ from ‘neutral’, with a price target set at 70p (current price: 31.95p).
Centrica double upgraded to ‘overweight’ as Barclays says firm ‘could emerge relatively stronger’ from pandemic disruption
The bank said while the British Gas owner was facing a “very challenging 2020”, competitors could be even worse off, potentially reducing competition in the UK's energy market
British Gas owner Centrica makes interim chief executive permanent boss
Chris O'Shea is replacing Iain Conn, who left the energy company last month
Utilities shares 'not insulated' from coronavirus risks, analysts say
UBS and RBC Capital Markets both downgraded British Gas owner Centrica, though were both positive about National Grid
British Gas owner Centrica weak as it cancels dividend as coronavirus pandemic hits gas demand
Chris O'Shea, Centrica's interim group chief executive, praised the efforts of the utility's workforce during the crisis
Wheway or the highway: Centrica's new chairman switches CEO
Chief financial officer Chris O’Shea will take over as interim chief executive
Centrica dividend still verging on "too good to be true"
“Centrica has a plan to get back on track but the journey is likely to be very bumpy,” said one analyst
Centrica posts big loss after oil and gas write-offs
The new year will see lower adjusted operating cash flow and higher net debt due to low commodity prices
UBS warms to Centrica, upgrades to ‘buy’ as it predicts 25% upside in the shares
The Swiss bank said there were “significant corporate catalysts” for growth at the British Gas owner, particularly with the UK’s retail market improving
Centrica sells Norfolk power plant for £105mln
The plant was mothballed in 2012 but recently had a new gas turbine installed.
Centrica, SSE, National Grid dividends to be capped by regulator
Shareholders will receive dividends based on financial market conditions, while customer prices will be based on competition rather than monopoly
Centrica takes a blow to sale plans with latest drill result
Centrica plans to divest its 69% stake in Spirit Energy, partner with Hurricane at the Greater Warwick Area where well test did not show expected results
Centrica's problems underlined by Npower retrenchment
The company's rate of customer loss has been decreasing, but tough competition and political headwinds remain
Centrica rallies after mixed trading update
Adjusted operating cash flow is expected to be in the lower half of the £1.8-£2bn range and year-end net debt will be between £3bn and £3.5bn
Centrica wins appeal over Ofgem price cap
The owner of British Gas requested a judicial review over a decision by Ofgem to change the dates within which wholesale energy prices are used to calculate the price cap, a move it said cost it £70mln
Centrica a “value wildcard”, says Jefferies as it ups to buy
The US broker said the shares were trading at a 50% discount to the sector after a torrid 2019 marred by profit warnings and a savage dividend cut
Centrica chief executive to depart after slump into losses and dividend cut
The utility posted a half-year net loss of £550mln compared to a profit of £238mln