Centrica shares drop after SSE price freeze receives warm welcome March 26, 2014 SSE’s business plan and price freeze until 2016 has proved popular across the board today. Unless you’re in the renewable energy camp, who are pretty peeved that the energy firm is cutting its offshore wind portfolio to offset said price freeze. Politicians were battling to take credit for the consumer-friendly move at PMQs, with Labour [...]
How a Budget carbon tax freeze would affect SSE and Centrica March 18, 2014 A freeze to the carbon price floor looks increasingly likely in the Budget tomorrow, which would have mixed effects on FTSE 100-listed energy giants SSE and Centrica. There is pressure on the government to freeze – or even cut – this controversial tax on fossil fuel emissions, which some argue is making energy-intensive industries in [...]
Aggreko share price jumps despite revenue hit by strong pound November 14, 2014 If Aggreko is missing former boss Rupert Soames, it isn't showing it. Shares in the temporary power provider rose more than four per cent in early trading, as the company announced third-quarter figures in line with expectations. Soames, the grandson of Winston Churchill, departed earlier this year to take the helm at embattled outsourcer Serco. [...]
Centrica bosses defend firm as profits decline February 20, 2014 CENTRICA executives yesterday emphasised the benefits of the company’s size to Britain in the wake of energy secretary Ed Davey’s suggestion to break up the power giant, as it unveiled disappointing but in-line full-year results. “The benefit of integration is that because we have the size and scale we have we are able to contract [...]
Centrica profits dive as political pressure mounts February 20, 2014 Energy giant Centrica has reported a fall in profits before tax to £1.6bn for the year to 31 December 2013. The fall is heavy blow to the energy company which recorded profit before tax in 2012 of over £2.4bn. Centrica also announced a six per cent dip in profit for its British Gas residential arm [...]
FTSE Shades of Grey: Why markets should not fear election uncertainty February 12, 2015 Many may well be planning their Valentine’s weekend around the much-anticipated Fifty Shades of Grey film, released today. But the fact we’re now 82 days away from the long-awaited General Election is more likely to get investors slightly hotter under the collar. Of course, in most cases, elections don’t matter very much at all to [...]
UBS fuels up the energy debate with Centrica downgrade February 18, 2014 Centrica was given another blow after UBS downgraded its rating on the stock from sell to neutral, causing shares to tumble over three per cent earlier today. UBS also lowered its price target on the energy giant, which owns big six supplier British Gas, from 340p to 280p. The analysts attributed the downgrade [...]
Best of the Brokers for 11 September 2014 September 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ROYAL BANK OF SCOTLAND Investec has upgraded to “hold” from “sell”, and raised the target price to 355p from 340p. Investec expects a no vote in the Scottish referendum to ease recent share underperformance, and continues to expect a gradual recovery across RBS’s [...]
Centrica’s chief warns UK will import 70pc of its gas by 2020 March 5, 2014 THE UK’s reliance on gas imports will rise to 70 per cent by 2020, the chief executive of big six energy firm Centrica warned yesterday. “Political uncertainty is the enemy of investment,” Sam Laidlaw told an energy conference in Texas. “As a result, investment in new UK generating capacity has virtually ground to a halt.” [...]
Overcoming Blue Monday blues: There are plenty of reasons to be cheerful about the future January 19, 2015 Today is supposedly the most depressing day of the year. It's dark, it's cold, all the festivities are over and our bank accounts are suffering for it. Now it's just a long wait until the gradual arrival of spring. It's no wonder the Monday of the last full week in January is labelled [...]