Tag: British Gas

Centrica to legally challenge energy price cap

Centrica to legally challenge energy price cap

Centrica has announced plans to launch a legal challenge against Ofgem over the energy price cap that is to be introduced to some energy bills next month. The company that owns British Gas confirmed it was seeking judicial review of the way in which the energy regulator calculated the cap […]

Charles Berry announced as new Centrica chair

Charles Berry announced as new Centrica chair

British Gas’ parent company Centrica has appointed Charles Berry as its next chairman, who will take up the new position in February 2019. The current chairman of international engineering company, Weir, will replace Rick Haythornthwaite, who announced he would step down earlier this year after six years in the position. […]

Low-carbon economy threatens 28,000 UK jobs

Low-carbon economy threatens 28,000 UK jobs

The UK Government’s drive to a low carbon economy could cost the north of England up to 28,000 jobs over the next 12 years, according to the Institute for Public Policy Research (IPPR). The report said the region faced economic decline under current plans, which fail to mention the damaging […]

British Gas pays £2.65m for overcharging

British Gas pays £2.65m for overcharging

Big Six energy firm British Gas has been forced to pay out £2.65 million after it overcharged 94,000 customers and imposed exit fees of thousands of households wrongfully. Ofgem stated the Centrica owned company had incorrectly moved customers that switched to a new supplier to a more expensive tariff as […]

British Gas hike energy bills by £44 in second 2018 rise

British Gas hike energy bills by £44 in second 2018 rise

British Gas will increase the average fuel bill of 3.5 million customers in its second price increase this year. The country’s largest energy supplier blamed the rising costs of wholesale energy prices for the 3.8% increase in standard variable tariffs (SVTs), which came just four months after April’s 5.5% rise, […]

Centrica profits down during H1

Centrica profits down during H1

Increasing wholesale costs and the extreme weather conditions during the beginning of 2018 saw adjusted operating profits at Centrica fall 4% to £782 million during the first half of the year. In the FTSE 100 firm’s consumer business, adjusted operating profits fell by as much as 20% to £430 million […]

Centrica questioned by shareholders

Centrica questioned by shareholders

Centrica’s board of directors faced a grilling from its shareholders at its recent annual meeting over the company’s poor performance and resulting decline in stock price. Over the course of four years, shareholders have seen the value of their holdings lose half their value as British Gas has been hit […]

UK price cap will be forced up by green policies

UK price cap will be forced up by green policies

Leading analysts have said household electricity bills could rise by a third, £200, by 2025 as a result of rising wholesale prices and green subsidies. Research by Aurora Research suggests upward pressure, caused by underlying costs, could cause government to increase its energy price cap multiple times, despite ministers condemning […]