FTSE grows despite Centrica woes

FTSE grows despite Centrica woes

The FTSE 100 has grown this morning reaching 7,548.38 just before midday, following global trends as tensions over the future of Catalonia ease.

 

Centrica shares have fallen significantly following the UK government’s announcement of an energy price cap. The company’s shares have fallen 9.7%.

 

The head of energy at comparethemarket.com Peter Earl said criticesed the cap and said: “For a sustainable, functional market, consumers need to be engaged. There are over 17 million households on standard variable tariffs missing out on over £5.5 billion in savings every year. We need to encourage customers to move on to cheaper, fixed tariffs and save hundreds of pounds a year.”

 

“One way to do this is the introduction of an energy billing revolution. People are confused by an overload of energy jargon in their bills and so forcing energy suppliers to adopt a simple, standardised, jargon-free bill format is an essential step.”

 

Brent Crude meanwhile fell 0.52 to $56.42 as data emerged of growing US inventories

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