Energy bills: Customers are missing out on up to £234 savings from big six energy suppliers February 18, 2015 The majority of people are missing out on big savings by not switching energy supplier. An investigation into the dominance of the big six energy firms – Centrica, EDF, NPower, SSE, E.On and RWE- has found customers are missing out on hundreds of pounds of savings. The interim findings from the Competition and Markets Authority [...]
Centrica prepares to slash jobs after profit plummets in 2014 February 15, 2015 Utility firm Centrica, owner of British Gas, is expected to announce profits dropped by a third in 2014 when it publishes its results on Thursday. The company is also likely to reduce projected spending for 2015, and is reportedly preparing to cut jobs. These results are the first set of numbers that have been delivered [...]
Centrica’s new chief executive Iain Conn could cut British Gas dividends by 15pc February 15, 2015 Centrica will release its full-year results for British Gas on Thursday, but there is little optimism among analysts. Not only has the falling price of oil weighed down the company's success – it is also going through a competition inquiry and faces a continuing crisis in the North Sea, where a large part of its [...]
British Gas buys smart home company AlertMe for £44m as Centrica bets on Internet of Things February 13, 2015 British Gas has just splashed some major cash on AlertMe, the smart home technology company behind its Hive service, which controls heating remotely at the touch of a smartphone screen. The Centrica-owned energy company will pay £44m to acquire AlertMe, the east London company which provides a platform for connected “smart” devices throughout the home, [...]
Centrica gives in as British Gas cuts bills by five per cent January 19, 2015 British Gas owner Centrica has become the latest energy company to cut its bills, slashing household gas prices by five per cent. In a statement today, the company said the cut will reduce average household energy bills by £37, benefitting 6.8 million customers. The price cut, which will take place from 27 February, "reflects the [...]
Centrica exec Colette Cohen takes top spot at The National College for onshore oil and gas January 18, 2015 The National College for onshore oil and gas has appointed Centrica’s Colette Cohen as its first chair. Cohen, who heads up Centrica’s UK oil and gas production business, will lead the college’s development board and help with business planning. She commented: “To build a successful shale gas industry it’s vital we attract young people to [...]
Mild winter and lower use hit Centrica outlook November 20, 2014 BRITISH Gas owner Centrica yesterday reduced its earnings forecast, as milder winter weather cut into its revenues. The firm said the average residential gas consumption for the first 10 months of the year was 21 per cent lower than in 2013, while the average electricity consumption was down seven per cent. It added that the [...]
Centrica shares fall on profit warning as winter gets off to a mild start November 20, 2014 We might be enjoying the milder-than-usual start to winter, but for Centrica it's been the source of lower-than-usual profits. The multinational utility company, which owns British Gas, admitted in a statement this morning that it had inaccurately read the meter on its earnings estimates issued earlier in the year, and that its profit estimates [...]
Last winter of discontent hits Centrica profits July 31, 2014 The temperature just wasn’t right for profits at British Gas owner Centrica last winter, as group profits were walloped by an extreme polar freeze in the US, contrasting with a mild UK winter. Operating profits at Centrica plummeted 40 per cent in the first half of 2014, down to £890m from £1.49bn over the same [...]
London Report: Lloyds and Centrica pull down FTSE but Shell prevents rout July 31, 2014 BRITAIN’S top equity index yesterday fell as Lloyds Bank pulled down financial stocks, while concerns about the impact on Europe from tensions between Russia and Ukraine also made traders wary. The blue-chip FTSE 100 index closed down by 0.6 per cent, or 43.33 points, at 6,730.11 points. Shares in Lloyds, which had risen for the [...]