CMA energy market investigation report pushed back six months September 21, 2015 Plans by the competition watchdog to remedy the energy market and make it easier for people to switch between providers have been put back by six months. The Competition and Markets (CMA) watchdog will now conclude their investigation by next summer rather than by the end of the year, as had been expected, giving energy [...]
Wind energy subsidies will end next April June 18, 2015 The government has moved forward the end date for onshore wind energy subsidies, it revealed yesterday. The Department of Energy and Climate Change will close the renewables obligation to new onshore wind generating stations from 1 April 2016. The Conservatives had pledged to stop the subsidies in their manifesto ahead of the General Election, however [...]
Best of the Brokers for 30 July 2015 July 30, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA Whitman Howard reiterated its “buy” recommendation on the utility company ahead of today’s interim results. The broker said: “Given we do not foresee any surprises in the results themselves, of greater interest might be the outcome of the strategic review.” Target price [...]
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 [...]
Best of the Brokers for 12 June 2015 June 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA Whitman Howard reiterated its “buy” rating on the utilities firm. The broker said that, following what it calls the “kitchen sinking” that accompanied the FY14 results, it believes that the intrinsic value in Centrica should begin to feed through as the dust [...]
Npower, EDF Energy, E.On UK, Scottish Power and SSE to follow British Gas price cuts July 15, 2015 Analysts forecast last night that Britain’s remaining big five energy groups will quickly follow British Gas and cut gas prices for a further 28m households. British Gas, owned by Centrica, yesterday cut gas bills by five per cent – the second reduction in six months. The cut will come into effect for its [...]
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 [...]
Best of the Brokers for 15 May 2015 May 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com CENTRICA Jefferies initiated coverage of the energy company with a “buy” rating. The broker said that although the last 18 months “have been abysmal for Centrica”, with market and political condititions stabilising the risk/reward for the shares now looks modestly favourable. CHIME COMMUNICATIONS [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
Britain facing winter of blackouts as National Grid warns of tightest power supply in a decade July 15, 2015 Britain could be facing a winter of blackouts, with National Grid warning of the tightest winter power supplies in a decade. The country now has just 1.2 per cent of spare capacity in the system, down from 4.1 per cent last year, according to the winter review and consultation showed. It is mostly because [...]