Centrica eyes bid for RWE assets November 27, 2011 Centrica, the owner of British Gas, has been eying a possible bid for RWE’s North Sea oil and gas assets for up to €2bn (£1.7bn). The FTSE 100 energy company has been working with bankers from Citigroup, the Telegraph reported this weekend. The move comes as German power company RWE looks to sell assets, including [...]
Centrica issues profit warning November 17, 2011 British Gas owner Centrica issued a profit warning, saying customers were shopping elsewhere following price hikes and using less electricity and gas in response to the weak economy and warmer weather. The utility, whose British Gas unit is Britain’s biggest household energy supplier, said on Thursday that customer churn had increased following increases in its [...]
ANALYST VIEWS: WILL THESE DEALS BE GOOD FOR CENTRICA? November 21, 2011 KEITH MORRIS | EVOLUTION Centrica says the deal strengthens its energy hedge ie reduces a structural short. Centrica’s desire to improve its energy hedge would suggest it doesn’t see commodity prices going lower and therefore the implication is that the value of North Sea assets are the very least underpinned at these levels. JONATHAN JACKSON [...]
Centrica blow as customers desert firm November 17, 2011 CENTRICA yesterday issued a profits warning as customers left to chase cheaper energy tariffs and unseasonally warm weather cut back on their fuel consumption. The owner of British Gas said that after it raised its prices by as much as 18 per cent, account numbers had dropped since the start of the year to 15.9m. [...]
Centrica blow as customers desert firm November 17, 2011 CENTRICA yesterday issued a profits warning as customers left to chase cheaper energy tariffs and unseasonally warm weather cut back on their fuel consumption. The owner of British Gas said that after it raised its prices by as much as 18 per cent, account numbers had dropped since the start of the year to 15.9m. [...]
Centrica signs £14bn Norway gas deal November 21, 2011 Energy giant Centrica has signed a £14bn deal with Norwegian oil major Statoil to develop oil and gas assets in the North Sea and supply gas to the UK for a decade. Centrica, the owner of British Gas, said it had acquired £1bn of energy assets in Kvitebjørn in the Norwegian North Sea from Statoil [...]
CCS funding attracts 16 bidders May 16, 2012 At least 16 companies are interested in participating in Britain’s £1bn competition to fund one or more carbon capture and storage (CCS) projects, the government said yesterday, hoping to encourage competitors to link projects together. Companies including Shell, National Grid and Centrica have signalled an intention to apply for funding but the government does not [...]
City’s finest in full bloom at Chelsea Flower Show preview May 21, 2012 Cairn’s Sir Bill Gammell arrives at last night’s Chelsea Flower Show Charity Gala Preview in aid of the RHS MITIE’s Ruby McGregor-Smith was fresh from the firm’s upbeat results Simon Borrows was named as the new chief exec of 3i last week Ex-Lloyds boss Eric Daniels proved he’s still on the City’s best guestlists RBC’s [...]
Trap signs lucrative North Sea deal with Centrica and Nippon November 23, 2011 TRAP Oil has inked a potentially lucrative North Sea oil deal with energy heavyweights Centrica and Nippon, City A.M. can reveal. The AIM-listed company has been paid £2.5m in cash for its Kew exploration site and will retain a 20 per cent stake to give it a share of future earnings. The company is due [...]
E.ON freezes its tariffs for 2012 May 14, 2012 E.ON, one of Britain’s biggest energy suppliers, said yesterday it will not increase energy tariffs for its UK residential customers this year, despite rising wholesale energy prices. Last week, Centrica said gas costs would be 15 per cent higher next winter, while other pressures would add another £50 to the cost of supplying energy to [...]