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UK must decarbonise heating, but not through hydrogen, Centrica boss says after government commitment March 19, 2019 Britain and other countries must remove carbon from their heating and cooling, British Gas owner Centrica said today, but warned a move to make the gas grid run on hydrogen is “unlikely to be practical”. Centrica chief executive Iain Conn said natural gas would be “crucial” in the transition to reducing carbon emissions, and that Britain [...]
Ofgem price cap: What to do if your energy bills shoot up February 21, 2019 Around 11m customers are facing higher energy bills from April, as SSE became the last of the Big Six energy suppliers to hike tariffs this morning. The energy firms have said that they need to put up prices as they are squeezed by higher wholesale costs. Read more: Households told to cough up as Ofgem [...]
British Gas owner Centrica sees shares fall to 20-year low as it warns of energy price cap hit to cash flow February 21, 2019 The owner of British Gas grew profits last year, but shares dropped 11 per cent this morning to a 20-year low as the company warned a new energy price cap will impact cash flow. The figures Revenue grew six per cent year on year to £29.7bn at Centrica and adjusted operating profit was up 12 per cent to [...]
Earnings are electric at Scottish Power owner February 21, 2019 Spain's Iberdrola has said it will bring forward its growth plans by a year after profits rocketed. The Scottish Power owner said it now expects to hit 2022 targets, including net profit of €3.5bn to €3.7bn (£3bn to £3.2bn), by 2021. The supplier, is on a major investment spree, having poured €4.1bn into its networks and renewables business. [...]
Five of the Big Six energy providers announce price hikes following Ofgem cap increase February 19, 2019 Five of the UK's Big Six energy suppliers have increased their prices following Ofgem's move to raise the energy price cap. Scottish Power today became the fifth of the major players to announce price increases, coming on the back of British Gas's decision this morning and Npower, Eon and EDF last week. The move leaves [...]
Households could lose hundreds of pounds by failing to switch as their energy plans run out this month January 23, 2019 Hundreds of thousands of customers could have up to £302 added to their energy bills each year if they don’t switch from plans which are set to end in January. Switching service Uswitch warned that it has identified around 200,000 households on 20 different energy plans which are set to conclude this month. Read more: Households [...]
As competition heats up, meet the energy company taking on the Big Six by cutting consumption January 14, 2019 You know the drill: energy companies lure you in with a cheap introductory rate, and once it expires, you’ve either got to repeat the hassle of shopping around for a new deal, or you’re automatically moved onto the provider’s expensive default tariff – otherwise known as the standard variable rate (SVR). This isn’t a glitch [...]
British Gas owner Centrica wades into legal battle with regulator Ofgem over price cap December 20, 2018 Centrica, the owner of British Gas, this evening confirmed it will tomorrow kick start a legal battle with regulator Ofgem over the energy price cap soon to be introduced in the UK. The energy giant will apply for a judicial review of the regulator’s decision to change the dates within which wholesale prices were used [...]
British Gas owner Centrica expects £70m hit from government’s energy cap November 22, 2018 Shares in British Gas owner Centrica dropped almost eight per cent this morning as it revealed a new cap on energy bills will cost £70m in the first quarter of next year. The £1,137 cap, revealed by regulator Ofgem earlier this month, is £68 lower than prices paid by 3.1m British Gas customers. It has [...]
FTSE 100 roundup: Today’s winners and losers November 2, 2018 The FTSE 100 lost ground today, with the index down 8.05 points at 7,106.61 shortly before the market close. Markets globally reacted positively to suggestions that the US and China may be coming towards a deal to end their recent trade war. However, looking at the week just gone, it appears that the FTSE 100 [...]