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Centrica PLC (CNA.L)

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Latest Key Developments (Source: Significant Developments)

Gaslog places a newbuilding order at Samsung Heavy Industries
Thursday, 20 Oct 2016 07:26am EDT 

Gaslog Ltd - : Charter to Centrica for seven years and places a newbuilding order at Samsung Heavy Industries . Centrica will charter the vessel from Gaslog for a period of seven years commencing in the second half of 2019 . Gaslog Partners Lp has the right to acquire the vessel pursuant to the omnibus agreement between Gaslog and Gaslog Partners .Securing a seven-year charter on vessel extends Gaslog partners’ dropdown pipeline of future vessels from thirteen to fourteen.  Full Article

Sterling Resources announces gas trading and services agreement
Thursday, 8 Sep 2016 05:22pm EDT 

Sterling Resources Ltd : Announces gas trading and services agreement . Says agreement replaces gas trading and services agreement with Vitol SA which expires on October 1, 2016 . Agreement is valid for a minimum two year period with gas made available to BGT commencing October 1, 2016 . Says entrance into a gas sales agreement with British Gas Trading Limited, a subsidiary of Centrica Plc .Deal provides co's share of Breagh nominated gas volumes to be sold on a day ahead basis to uk reference price at national balancing point.  Full Article

Centrica buys UK water leaks detection business
Tuesday, 30 Aug 2016 03:30am EDT 

Centrica Plc : Acquisition .Acquired Flowgem Limited, an early stage UK-based business developing unique and innovative technology to remotely detect water leaks, for 13 mln stg.  Full Article

Centrica names Stephen Hester as senior independent director
Thursday, 28 Jul 2016 04:00am EDT 

Centrica Plc : Appointment of Stephen Hester as senior independent director with effect from 1 October 2016 .Stephen succeeds Ian Meakins who steps down from board as senior independent director with effect from 1 October 2016..  Full Article

Centrica loses 399,000 customers in the first half of 2016
Thursday, 28 Jul 2016 02:31am EDT 

Centrica Plc : Adjusted operating cash flow up 19 pct to 1,372 million stg, including working capital delivery in UK business. . Impact of low commodity prices on E&P and central power generation, partially offset by cost efficiency. . Focus and investment in customer service resulting in improved service metrics. . Home accounts in North America and Ireland stable. . CMA final report provides clarity on UK regulatory framework. Focus is now on bringing new innovative products and services to market. . 2016 full year adjusted operating cash flow on track to exceed 2 billion stg . 2016 first half net debt down to 3.8 billion stg, a reduction of 23 pct compared to first half of 2015 . Interim dividend of 30% of last year`s full year dividend in line with established practice . As previously stated, full year dividend will be determined based on our assessment of sustainable growth in operating cash flow. . E&P production was down 7%, largely reflecting natural portfolio decline, however we expect a first contribution from large scale cygnus development in q4 of 2016 . We have now installed over 360,000 connected hubs in uk. . We made very good progress in our cost reduction programme in first half of 2016, from which we expect to be delivering £750 million of savings per annum by 2020 . Adjusted earnings down 14% to 507 million stg, primarily reflecting extreme warm weather in north america.  Full Article

Centrica says CMA reforms will enhance energy market
Friday, 24 Jun 2016 05:51am EDT 

Centrica Plc : Reg-Centrica Plc Competition and Markets Authority . Now look forward to working with regulators and other interested parties as we implement outcome to deliver even further competition in market to benefit customers .Believe that many of CMA remedies will further enhance market and benefit customers.  Full Article

UK's CMA accepts undertaking in Centrica deal with Dynegy Storage and Onshore unit
Thursday, 26 May 2016 07:18am EDT 

UK's CMA : UK's CMA says accepts Rough undertaking in completed acquisition by Centrica of Dynegy Storage and Dynegy Onshore Processing UK . Independent panel members found that as Rough ages its performance may become more unpredictable; so CSL cannot meet previous capacity obligations .UK's CMA says varied undertakings introduce adjustment mechanism which would allow OFGEM, as energy regulator, to vary the capacity obligations on CSL.  Full Article

Centrica buys combined heat and power supplier ENER-G Cogen for 145 mln stg
Monday, 16 May 2016 11:00am EDT 

Centrica Plc : Acquired ENER-G Cogen International from ENER-G Holdings Plc for 145 million stg .Business will form part of Centrica`s new international distributed energy & power business.  Full Article

Centrica PLC to acquire Neas Energy A/S
Thursday, 21 Apr 2016 02:00am EDT 

Centrica PLC:Says has agreed to acquire Neas Energy A/S (Neas), one of Europe`s providers of energy management and revenue optimisation services for decentralised third-party owned assets, for DKK1.6 billion (£170 million) in cash plus adjustments for cash and net working capital.  Full Article

Centrica PLC says Direct headcount expected to reduce by around 3,000 in 2016 - Reuters News
Monday, 18 Apr 2016 06:45am EDT 

Centrica PLC:Direct headcount expected to reduce by around 3,000 in 2016; reduction of around 800 in first three months of year.  Full Article


Centrica sells Trinidad and Tobago gas assets to Shell

LONDON British utility Centrica said on Wednesday it has agreed to sell its gas assets in Trindad and Tobago for $30 million to Royal Dutch Shell .