Autumn price rises of up to 10 per cent expected at British Gas September 22, 2013 BIG SIX energy supplier British Gas is expected to raise its prices by up to 10 per cent this autumn, far above the inflation rate and a greater increase than last year. Reports claim that the firm will raise its prices in the next few weeks, in time for the winter when most gas and [...]
Gas and construction man Mark Clare joins United Utilities October 18, 2013 The group chief executive of Barratt Developments Mark Clare is joining United Utilities, the UK's largest water company, as a non-executive member, said the water company today. (Release) Clare, who has held his position at Barratt since 2006, was executive director of Centrica and managing director of the British Gas Residential Energy operation before moving [...]
London Report: Slide in energy shares helps to drive FTSE down September 25, 2013 BRITAIN’S top shares fell yesterday, led down by Carnival after a profit warning triggered downgrades, while Centrica and SSE fell after the opposition Labour Party talked of an energy price freeze. Carnival slid 6.7 per cent to 2,098.26 pence, the FTSE 100’s top faller for the second session in a row, after Tuesday’s warning of [...]
Big six suppliers dispute Ofgem wholesale data October 28, 2013 A NEW energy row has erupted over data from industry regulator Ofgem, which claims that wholesale gas and electricity costs have been almost flat over the past year, rising by only 1.7 per cent. Alongside government policies, the big six energy suppliers have attributed rising wholesale prices as a key driver for raising consumers’ bills. [...]
Energy firms in talks to extend green targets September 29, 2013 ENERGY companies are in advanced talks with the government to delay the start of a costly energy-saving scheme, as they argue that implementing it too quickly will cause customers’ bills to rise. A spokesperson from SSE told City A.M. yesterday that the big six energy supplier thinks an 18-month delay would be sensible to avoid [...]
SSE defends energy price rise as Archbishop hits out at Big Six October 20, 2013 ENERGY firm SSE last night defended its decision to raise prices, blaming wholesale prices and government policy for the hike. Its remarks come after the Archbishop of Canterbury squared up to Britain’s energy companies over their plans to up fuel bills this winter. Justin Welby, a former oil trader, said the so-called big six firms [...]
City Moves for 04 December 2013 | Who’s switching jobs December 3, 2013 Baker Tilly The professional services firm has appointed Suneel Gupta as partner in its South Asia advisory group, with a focus on the UK Asian business market and cross-border work between India and the UK. He was previously a partner at BDO, and qualified at PwC. State Street Global Advisors State Street’s asset management business [...]
Threat of price cap knocks £3bn off energy firms September 26, 2013 ED MILIBAND’S pledge to freeze energy prices continued to weigh on the UK’s energy giants yesterday, with almost £3bn taken off the value of British suppliers Centrica and SSE. British Gas-owner Centrica’s value fell by £1.78bn between the Labour leader’s speech on Tuesday afternoon and market close yesterday, while peer SSE lost £1.15bn over the [...]
Erratic and arbitrary UK renewable subsidies are likely to end in failure December 8, 2013 WITH Centrica threatening to pull the plug on a £2bn offshore wind farm if the government did not increase already exorbitant subsidies, ministers agreed to do just that. Yesterday, they announced they would slow the planned reduction in the guaranteed strike price for offshore wind by adding £5 to the subsidy – to £140 per [...]
Labour declares war on business September 24, 2013 Miliband hits energy firms with plot for £4.5bn price freeze British Gas owner Centrica threatens to quit UK over plan Policies on tax, energy and construction slammed ED MILIBAND yesterday launched an extraordinary attack on swathes of British business as he returned his party to its left-wing roots by unveiling a range of punitive policies [...]