Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]
Politicians clamour to take credit for SSE price freeze March 26, 2014 POLITICIANS yesterday rushed to take credit for SSE’s pledge to freeze energy prices until 2016, despite the big six supplier combining the move with plans to slash its renewables investment and axe jobs. Prime minister David Cameron said the government’s decision to roll back some green levies from customers’ bills was responsible for the decision. [...]
London Report: Takeover hope and US expansion keep FTSE 100 on a high April 23, 2014 US expansion plans for Associated British Foods and expectations of consolidation in the drugs sector kept Britain’s top share index near a two-week high yesterday. Clothing and food conglomerate AB Foods surged 8.8 per cent, its best one-day percentage gain for 14 years, after saying its fast-growing clothing chain Primark is to set up in [...]
Cold winter fires up Centrica earnings July 31, 2013 BRITISH Gas owner Centrica today unveiled a two per cent rise in adjusted earnings for the first half of the year, after an unusually cold winter boosted gas consumption. Overall revenue rose 14 per cent to £13.7bn over the period. “With our customers using more gas to stay warm during the unusually cold winter, we’re [...]
Ofgem confirms full energy market investigation March 27, 2014 British households may be paying too much for energy, according to regulator Ofgem. The energy sector has been referred to the Competition and Markets Authority (CMA). The investigation could take between 18 and 24 months. Ofgem proposed that the CMA investigate the market to consider "once and for all" whether there are barriers to effective [...]
Davey defends investment in UK energy amid blackout warnings March 31, 2014 ED DAVEY yesterday defended the investment climate for the UK energy sector, amid industry warnings that a competition probe into the market will delay projects and increase the risk of blackouts. “We have huge amounts of companies wanting to invest,” the energy secretary said on the BBC’s Sunday Politics. “If you look at independent analysis, [...]
Sir Roy Gardner heads to William Hill February 26, 2014 FORMER Centrica boss Sir Roy Gardner has joined bookmaker William Hill as a non-exec director, the firm said yesterday. Gardner, who is the former chairman of Manchester United Football Club and catering giant Compass, led the British Gas-owner from 1997-2005. He will take over as senior independent non-exec director when David Edmonds retires at the [...]
Bell Pottinger pulls the crowds at its annual summertime soiree May 20, 2014 HOT ON the heels of the Chelsea preview night, Bell Pottinger yesterday threw another City shindig, pulling Centrica’s Sam Laidlaw and hedge fund legend Sir Michael Hintze back onto the tiles for the second night in a row (although they both shot off early to catch up on beauty sleep). Communications coach to the great [...]
Sainsbury’s offer value alternative to journo barred from Tesco dinner April 10, 2014 After reports that the Financial Times' senior retail correspondent, Andrea Felsted, has been barred from a Tesco journalist dinner this evening, a rival has put forward an alternative of their own. Grocers Sainsbury's suggests that Felsted might want to check out their £10 Bistro meal deal, for "any journos who find their dinner plans suddenly [...]
Big six defend energy market ahead of competition review March 24, 2014 THE BIG six energy firms yesterday defended competition in the market, ahead of the regulators’ findings on the matter later this week. Ofgem and the Office of Fair Trading are due to decide whether to refer the investigation into whether the energy market operates fairly to the Capital Markets Authority. “Competition in the energy market [...]