Tag: Centrica

Oil surges with support from OPEC cuts

Oil surges with support from OPEC cuts

The FTSE 100 took a turn for the worse at 6,809.72 as shares in UK energy giant Centrica plummeted 4.77pc, after Jefferies lower its stance on the British Gas owner, pointing to dividend risk. Brent crude climbed 2.42pc at $58.44, achieving its biggest week-on-week gain in two years, with support […]

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 […]

Centrica names new head of consumer division

Centrica names new head of consumer division

Centrica has appointed Sarwjit Sambhi as its chief executive of its consumer division, replacing Mark Hodges who is moving to Swiss Re. Sambhi’s promotion to head Centrica’s consumer facing division, which provides energy to residential customers across the UK, US and Ireland, comes ahead of the controversial price cap that […]

Markets up as May vows to fight leadership challenge

Markets up as May vows to fight leadership challenge

The FTSE 100 rose 1.146pc at 6,884.93 as it looked increasingly likely that UK Prime Minister will survive a vote of no confidence after a wave of support from senior Tory MPs. UK energy giant Centrica was amongst the top performers on a strong FTSE 100, up 3.73pc. Brent crude […]

Centrica loses on a steady FTSE 100

Centrica loses on a steady FTSE 100

The FTSE 100 was up 0.317pc at 6,799.57 as UK GDP grew by 0.4pc in the three months to October 2018 ahead of an expected statement by UK Prime Minister Theresa May later today. UK energy giant Centrica was amongst the biggest losers on the UK index, down 4.15pc. Brent […]

Sterling rises on Brexit hopes

Sterling rises on Brexit hopes

The FTSE 100 plummeted 1.273pc at 6,960.50 as traders closed positions as a precaution to Thanksgiving day in the US. UK energy giant Centrica plummeted 8pc on the FTSE 100 after figures revealed it lost 372,000 customers in the four months to the end of October. Brent crude dropped 0.76pc […]

Centrica shares plummet as customers leave

Centrica shares plummet as customers leave

Centrica has lost 372,000 home energy customers in the four months to the end of October as high levels of competition from smaller firms mount on the Big Six. The figures revealed represent a 3% drop in the energy giant’s 12.5 million gas and electricity accounts from June, highlighting the […]

UK could face energy shortages this winter

UK could face energy shortages this winter

UK is in desperate need of more gas storage sites as supply shortages could cause power cuts this winter, according to a top energy consultancy. Wood Mackenzie have described the UK’s gas supply position as “precarious” with fears that a particular cold winter could cause blackouts. In the past couple […]