07 июля, 13:55

New Fortress Ends Centrica LNG Deal (Update)

Terminating the agreement will allow New Fortress to buy much cheaper LNG on the open market.

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22 июня, 15:39

Centrica plans cut-price 'British Gas X' to take on digital rivals

Supplier hopes to win back lost customers but not compete with ‘premium’ siblingThe owner of British Gas plans to challenge its cut-price competitors by setting up a new digital energy brand to offer discounted deals on electricity and gas.The online-only spin-off will compete directly with the rising number of low-cost startups which have lured millions of customers away from British Gas in the last decade. Continue reading...

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31 мая, 02:01

Cybersecurity, DIY and gaming to come up trumps in FTSE reshuffle

Predictably, travel and aviation stocks are set to drop out of the top 100 firms in this week’s stock market reviewIn the words of 1978 song The Gambler, recorded so memorably by country crooner Kenny Rogers, “You’ve got to know when to hold ’em, know when to fold ’em.” There has of late been more folding than holding from FTSE 100 investors, leading to one of the biggest reshuffles of the index in recent memory.The term “blue chip” has its origins on the poker table, where blue was the colour of the highest-value tokens. Rarely have the gambling idioms so beloved of investing commentary felt so appropriate as when the pandemic saw many companies land on zero revenues during lockdowns. Continue reading...

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22 апреля, 22:22

British Gas owner needs more than cost-cutting and energy prices prayer | Nils Pratley

Everything is going wrong at once. Sale of North American business may be only way out for CentricaSpare a thought, amid the oil price rout, for beleaguered Centrica, trying to flog its oil and gas exploration assets in a world where buyers have evaporated. The owner of British Gas “paused” its search for a buyer for its 69% stake in Spirit Energy a fortnight ago, but bowing to the inevitable has merely highlighted the financial strain across the group.Everything is going wrong at once. Power usage in the UK has plunged as offices and factories have shut. Bad debts will inevitably rise among small businesses and British Gas consumers. “Material headwinds are ahead,” said Jefferies’ analysts on Wednesday as they slashed their estimate of Centrica’s earnings by a mighty 30% for this year, 2021 and 2022. Continue reading...

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14 апреля, 21:30

Not even Wall Street titans know the true cost of the coronavirus crisis

JP Morgan’s $8.3bn bad loan provision is steep but it’s guesswork – no one has a clue about the final billAn $8.3bn provision for bad loans is steep, even for JP Morgan Chase, the biggest bank in the US. Is it even roughly the correct number, though?Jamie Dimon, unrivalled titan of Wall Street, didn’t quite shrug his shoulders nor did he indulge his normal habit of assessing the state of the world for lesser mortals. The provision was taken because of “the likelihood of a fairly severe recession”, which is stating the obvious, but then his finance director said the reserves “could be meaningfully higher in aggregate over the next several quarters relative to what we took in the first quarter”. Continue reading...

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02 апреля, 13:29

British Gas braces for steep drop in revenues because of coronavirus

Owner Centrica says business accounts have closed sites and warns many households will delay paymentsCoronavirus – latest updatesSee all our coronavirus coverageBritish Gas is bracing for a steep fall in revenues due to the coronavirus pandemic, as households delay paying their bills and its business customers close their sites.The owner of Britain’s largest energy supplier abandoned its cash flow forecasts for the year because it cannot predict how many households will be able to pay their energy bills, or how long they may defer payments to weather the coronavirus lockdown. Continue reading...

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04 марта, 22:27

British Gas and VW unveil three-year electric vehicle deal

Engineers to install fastest home car-charger available in exclusive one-stop packageBritish Gas has teamed up with Volkswagen to accelerate the rollout of its electric vehicles (EV) across UK roads by helping drivers to charge up at home at a lower price.The UK’s biggest energy company has agreed a three-year deal with the carmaker to offer owners of new electric VW vehicles a one-stop package to help plug into home charging. Continue reading...

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29 сентября 2019, 18:08

Centrica to use customers' hot water tanks to stop blackouts

British Gas owner to harness smart appliances to help balance National GridCentrica, the owner of British Gas, plans to use its customers’ hot water tanks to create a virtual power plant which could help National Grid prevent future blackouts.The UK’s biggest energy supplier hopes to harness household gadgets with energy capacity equivalent to a large power plant by 2025. The plan could help to balance the energy system without any perceptible impact for British households. Continue reading...

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04 августа 2019, 13:01

Lower price cap could mean cheaper energy bills for 11m UK homes

Ofgem plans would cut average annual cost for standard variable energy tariffs by 6%Millions of homes in the UK could be in line for a reduction of £80 on their energy bills this winter under plans from the industry regulator to lower the energy price cap.This week, Ofgem is widely expected to announce a lower cap on energy bills for 11m homes using standard variable energy tariffs, which could cut the average annual bill by 6%. Continue reading...

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03 августа 2019, 17:59

How ‘smart homes’ and price caps drained Centrica’s power

Whoever takes over at the UK’s biggest energy provider must do more than just deliver gas and electricity to consumersWould any other chief executive have done things differently? The question has been the topic of conversations in the energy industry since Iain Conn, Centrica’s chief executive, said last week that he would step down.The boss of British Gas’s parent company will move early next year, leaving a company shaken by seismic shifts in Britain’s energy industry and facing an existential crisis. Continue reading...

30 июля 2019, 20:23

As sterling falls, will PM alter course or risk price hikes as election looms?

Money markets did not take a disorderly departure seriously, but do now. So should JohnsonBritish holidaymakers heading abroad for their summer holidays might not thank him for it, but the fall in the value of the pound to its lowest level in 28 months is evidence that Boris Johnson’s Brexit strategy is having an impact.The currency markets never took the idea seriously that the UK would leave the EU without a deal when Theresa May was prime minister. That has changed in the past five days as the new government has rammed home the message that the 31 October deadline for departure is set in stone. Continue reading...

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30 июля 2019, 10:10

Chief of British Gas owner Centrica to step down as it posts loss

Company cuts dividend as it announces Iain Conn will leave next yearCentrica, the owner of British Gas, has said its chief executive, Iain Conn, is to step down next year, as it slashed its dividend after a first-half loss.The former BP executive said he had agreed to step down from the company, after almost five years in the role, by next year’s annual general meeting. Continue reading...

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08 июля 2019, 02:01

British Gas and SSE to purge petrol and diesel from fleets by 2030

Two of big six energy companies sign up to pledge organised by the Climate GroupTwo of Britain’s biggest energy suppliers are accelerating the drive towards greener vehicles by pledging to replace their existing fleet of vans with all-electric models by 2030.British Gas owner Centrica and SSE have committed to switch to electric cars and vans a decade ahead of the government’s ban on the sale of new combustion engine vehicles. Continue reading...

20 июня 2019, 09:00

UK's big energy firms accused of failing to tackle climate crisis

Shell, BP and Centrica have talked of backing EU emissions target but withheld support The UK’s largest energy companies have withheld support for a legally binding target to reduce the EU’s emissions to net zero by 2050, even while publicly backing the plans.Royal Dutch Shell, BP and British Gas’s owner, Centrica, have all publicly thrown their weight behind more ambitious EU emissions cuts, but none supported the Brussels proposals for a tougher target in an official consultation. Continue reading...

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19 июня 2019, 18:42

Centrica, owner of British Gas, plans to axe 700 jobs in the summer

Group blames falling customer numbers and government cap on standard energy tariffsThe owner of British Gas will axe another 700 staff from its UK offices this summer as part of a total cut of 4,000 intended to weather challenges in the energy market.The latest blow to Centrica employees comes after the FTSE 100 energy firm reduced its workforce by 2,200 jobs last year and announced plans to cut another 500 in April. Continue reading...

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12 мая 2019, 08:59

Investor anger rises over pension pay and bonus bumps at Lloyds and Centrica

Two well-remunerated FTSE 100 bosses will be in the spotlight this week as a mood of rebellion grows among shareholdersIt is bad enough being responsible for slumping customer numbers and rising bills at British Gas, but Centrica’s boss, Iain Conn, now finds himself lumped in with senior banking executives in controversies over pay.Conn’s bedfellow in shareholder discontent is Lloyds Banking Group’s chief executive, António Horta-Osório. Both face their investors at annual general meetings this week, having ruffled feathers in recent months over their excessive pay packets. Conn’s remuneration has grown with the help of two bonuses, each worth £388,000, while Horta-Osório is feeling the heat over annual pension payments viewed by many shareholders as little more than a backdoor pay rise. Continue reading...

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21 февраля 2019, 20:47

Centrica's profits may not be the only casualty of the energy price cap | Patrick Collinson

If price cap becomes the target, rather than the ceiling, it will be customers who payIs the energy price cap working? Iain Conn, the chief executive of the British Gas owner, Centrica, has 300m reasons why he thinks it has failed, as it has lopped that much off the firm’s profits. The cap, he says, is strangling competition in the market and could also strangle supply, as energy companies stop investing.The knee-jerk response will be “well, he would say that”. But there are lots of things not working in this market: 11 “challenger” providers have collapsed in recent weeks; the number of tariffs available to customers has fallen; and the standard dual-fuel price has jumped alarmingly – not least British Gas’s own 10% price rise last week. Continue reading...

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21 февраля 2019, 13:56

British Gas owner loses 742,000 customers and issues price cap warning

Centrica says it will take £300m hit on cap on energy bills and lowers 2019 cashflow outlook The owner of British Gas, Centrica, lost about three-quarters of a million customers last year and warned it will take a £300m hit from the government’s price cap on energy bills.Shares in Britain’s biggest energy company dropped more than 10% after the company lowered its cashflow outlook for 2019, leading investors to fear Centrica’s dividend could be cut. Continue reading...

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22 ноября 2018, 22:17

British Gas masks customers' intense rush for the exit | Nils Pratley

Owner Centrica’s shrunken share price shows its investors are losing faithCentrica is making progress, apparently. Look, British Gas customers are fleeing at a rate of only 93,000 a month this year, as opposed to the 100,000-plus that were deserting on average every month during 2017. Related: Centrica shares sink to near 15-year low as customers numbers fall Continue reading...

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22 ноября 2018, 20:17

Centrica shares sink to near 15-year low as customers numbers fall

British Gas owner loses more than 90,000 customers a month amid intense competitionShares in Centrica, the owner of British Gas, have tumbled to a near 15-year low after it revealed it was losing more than 90,000 customers a month and faced a £70m hit from the forthcoming price cap.The UK’s biggest energy company has also been affected by two nuclear power stations being taken offline and outages at its oil and gas fields. Continue reading...

06 марта 2014, 00:40

Centrica: энергобезопасность Британии под угрозой

Великобритании необходимо срочно искать новые источники энергии. Собственная добыча нефти и газа падает, при этом зависимость от импорта энергоносителей растет. С такой оценкой ситуации выступил Сэм Лэйдлоу, глава крупнейшей газовой компании Centrica.

06 марта 2014, 00:40

Centrica: энергобезопасность Британии под угрозой

Нефтяные платформы Gullfaks А и Gullfaks С в Северном море Великобритании необходимо срочно искать новые источники энергоносителей. Собственная добыча нефти и газа стремительно падает, при этом зависимость страны от импорта энергоносителей растет. С такой оценкой ситуации выступил Сэм Лэйдлоу, глава крупнейшей в Великобритании газовой компании Centrica.  Комментарии главы Centrica прозвучали в рамках ежегодной конференции по энергетике CERAWeek в Хьюстоне, США.  Сэм Лэйдлоу, генеральный директор Centrica   "Сегодня Великобритания импортирует около половины необходимого газа. При этом добыча нефти и газа в Северном море за последние три года упала на 38%. К 2020 г. доля импортируемого газа в энергобалансе Великобритании вырастет до 70%. Мы находимся в зависимом положении от стран-экспортеров энергоносителей, это ослабляет энергетическую безопасность Великобритании. Нам нужно срочно найти какое-то решение в этой ситуации”.   Импорт нефти и газа в Британии на максимуме с 1976 г В Великобритании падает добыча и растет импорт нефти В последние годы на фоне истощения месторождений в Северном море в Великобритании наблюдается четкая тенденция по сокращению собственных объемов добычи нефти и газа и существенный рост импорта энергоносителей. Об этой ситуации в 2012 и 2013 гг. сообщало Министерство энергетики и изменения климата Великобритании. Министр энергетики и развития бизнеса Великобритании Майкл Феллон в ноябре 2013 г. заявил, что к 2030 г. доля импорта природного газа со стороны Великобритании вырастет до 75%.