British Gas profits down as Centrica hit by UK warmer weather and US polar vortex July 31, 2014 Pre-tax profits at British Gas owner Centrica fell 40 per cent in the first half of the year as British Gas felt the effects of warmer weather in the UK. British Gas operating profit dropped 26 per cent as gas consumption fell 24 per cent and electricity use dropped nine per cent. Customer numbers at the [...]
Iain Conn named new boss of Centrica July 29, 2014 Iain Conn has been appointed chief executive of Centrica, the company that owns British Gas. He will take up the position at start of next year, after current chief executive Sam Laidlaw retires from the board. Conn is currently the head of refining and marketing at BP, and has been appointed by Centrica [...]
BP’s Iain Conn in talks to take Centrica top job July 24, 2014 CENTRICA finally confirmed yesterday that it was in talks with BP’s Iain Conn over the possibility of him taking over the top role from Sam Laidlaw. Oil major BP announced yesterday afternoon that Conn was stepping down by the end of the year after almost three decades at the company, prompting a statement from the [...]
Centrica puts Caribbean gas sites up for sale amid disposal plans June 23, 2014 British-Gas owner Centrica has appointed Canadian finance giants Macquarie to auction off the energy firm’s gas operations in Trinidad. The FTSE 100 firm, run by chief executive Sam Laidlaw, is hoping to sell its gas operations in the Caribbean state along with assets in Tobago for a price tag in the region of £250m, it [...]
Centrica boss Laidlaw gets cold feet over top job at BG Group June 16, 2014 CENTRICA chief Sam Laidlaw will not be moving to take the vacant top spot at BG Group, according to reports that he has privately ruled himself out of the position. The chief executive has been regularly named in connection with the opening at BG group. Laidlaw indicated earlier this year that he wishes to step [...]
Centrica loses MD for the top job at Aggreko May 29, 2014 Aggreko, the temporary power hire company, has appointed Chris Weston as its new chief executive officer, confirming reports leaked last night. He has handed in his resignation at Centrica, where he was managing director of the company's international downstream division. Weston will replace Rupert Soames, who has taken the top job at Serco, after 11 [...]
Centrica set for major shakeup May 28, 2014 BRITISH Gas managing director Chris Weston is to step down this week, and is now reportedly in advanced talks to take over as chief executive of Aggreko. The move would indicate that a major reorganisation is in the offing at Centrica, the parent company of British Gas. Chief executive Sam Laidlaw is also said to [...]
Centrica slides after surprise profit warning May 8, 2014 CENTRICA’S share price dropped yesterday, after the energy giant issued its second profit morning in six months. The FTSE 100 firm, which owns big six supplier British Gas, said lower energy consumption due to mild winter weather in the UK and losses from its UK gas-fired power stations had caused the company to lower its [...]
Centrica shares dive on profit warning May 8, 2014 Shares in Centrica have shed well over four per cent this morning, after it slashed its earnings outlook for this year. The Big Six energy firm now expects full year adjusted earnings per share to be in the range of 22p-23p, with growth returning next year. The average British Gas residential energy bill was about [...]
Centrica slides on British Gas’ £5.6m penalty April 10, 2014 CENTRICA’S share price slumped over one per cent yesterday, after its supply arm British Gas was fined £5.6m by the regulator for unfairly blocking business customers from switching. Energy firms can prevent customers from switching in certain cases, such as if the customer owes money on the account. But Ofgem found that between 2007 and [...]