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Centrica PLC (CNA.L)

CNA.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Centrica Says on track to achieve 2017 targets
Tuesday, 1 Aug 2017 02:00am EDT 

Aug 1 (Reuters) - Centrica Plc :HY adjusted earnings down 11% to £449m including a higher net interest cost.On track to achieve 2017 group targets set out at 2016 preliminary results in february.Interim dividend of 3.6p, 30% of 2016 full year dividend in line with established practice.First phase of strategic transformation of centrica expected to be complete by end 2017.Net debt down 22% over past year to £2.9bn; on track to remain in target range of £2.5-£3.0bn by end 2017.HY revenue £14.3bn versus £13.4bn.HY ebitda £1,293m versus £1,272m.  Full Article

UK's Ofgem says British Gas to pay 1.1 mln stg to compensate customers
Thursday, 20 Jul 2017 02:28am EDT 

July 20 (Reuters) - UK's Office of Gas and Electricity Markets: :British gas pays 1.1 mln stg to compensate customers after agents missed appointments​.Around 12,000, largely business, customers were affected​.Due to these actions, OFGEM has agreed to this redress package with British Gas and is not taking formal enforcement action.​.  Full Article

Centrica named in UK demand side response framework
Tuesday, 18 Jul 2017 04:01am EDT 

July 18 (Reuters) - Centrica Plc ::Named by Crown Commercial Service (CCS) as a supplier on its demand side response framework.Three-Year framework agreement names Centrica as one of six suppliers of demand side response services.  Full Article

Centrica says to create E&P JV with Stadtwerke Muenchen
Monday, 17 Jul 2017 02:00am EDT 

July 17 (Reuters) - Centrica Plc :Co, Stadtwerke München reached agreement to combine co's European oil, gas E&P business with Bayerngas Norge AS to form JV.JV to have 2 shareholding entities. Co to own 69 pct; Bayerngas Norge's existing shareholders, led by SWM, Bayerngas Gmbh, will own 31 pct.Effective date of transaction is 1 January 2017 and it is expected to close in Q4 of 2017.100-150 million stg of net present value (npv) expected through Synergies from cost savings and portfolio optimisation from deal.Portfolio of joint venture will be gas weighted, with approximately 66 pct of total reserves and resources comprising natural gas.Joint venture will comprise Centrica's assets in UK, Netherlands and Norway and Bayerngas Norge's assets in UK, Norway and Denmark.JV to control a meaningful portion of combined portfolio, with operatorship of approximately 22 pct of its expected 2017 production.Centrica expects to acquire and market all production from joint venture's assets under marketing and sales agreements.JV expects to invest about 80% of post-tax operating cash flow through cycle in organic and inorganic growth options.In near term, it is envisaged that joint venture will invest in range of £400-600 million per annum.  Full Article

Centrica would consider selling UK nuclear plant stake - CEO
Wednesday, 21 Jun 2017 06:20am EDT 

June 21 (Reuters) - Centrica Plc :Centrica CEO says would consider divesting stake in uk nuclear plants if received right offer.  Full Article

Centrica says revenue from connected home unit could reach 1 bln pounds by 2022
Wednesday, 21 Jun 2017 05:00am EDT 

June 21 (Reuters) - Centrica Plc :Centrica's ceo of consumer business says revenue from connected home division could reach 1 billion pounds by 2022.  Full Article

Centrica says on track to meet 2017 financial targets
Wednesday, 21 Jun 2017 03:47am EDT 

June 21 (Reuters) - Centrica Plc :Centrica says on track to deliver 2017 financial targets - presentation slides.Centrica says targeting 2.5-3 billion pounds net debt by end 2017 - presentation slides.Centrica says continues to engage constructively with uk government, regulator on energy market - presentation slides.Centrica says targets distributed energy & power division to break-even by 2019 - presentation slides.Centrica says to invest around 250-350 million pounds a year between 2017-2020 - presentation slides.  Full Article

Centrica to sell Langage,South Humber Bank power stations
Wednesday, 21 Jun 2017 02:00am EDT 

June 21 (Reuters) - Centrica Plc ::Centrica to sell Langage and South Humber Bank gas-fired power stations.Sale to EP UK Investments Ltd ("EPUK") for 318 million pounds in cash.Transaction is subject to EU merger clearance and is expected to complete during second half of 2017.  Full Article

Centrica To sell its 60 pct stake in Canadian E&P business​
Friday, 9 Jun 2017 02:00am EDT 

June 9 (Reuters) - Centrica Plc :Centrica Plc - disposal.‍Centrica agrees sale of its Canadian E&P business​.‍CQ Energy Canada Partnership, Canadian E&P joint venture in which Centrica Plc owns a 60 pct interest, is to be sold​.‍To a consortium comprising MIE Holdings Corporation, Can-China Global Resource Fund and Mercuria for a purchase price of c$722 million in cash​.‍Centrica's net share of sale proceeds is expected to be approximately 240 million stg after adjustments​.‍Divestment means centrica's E&P activity will now be focused solely on European assets​.‍Transaction is expected to close in second half of 2017​.  Full Article

Centrica says 86.20 pct votes favour remuneration resolution at AGM
Tuesday, 9 May 2017 06:17am EDT 

May 9 (Reuters) - Centrica Plc ::86.20 percent vote in favour of resolution to approve directors' annual remuneration report at AGM.  Full Article

UPDATE 1-Record close for FTSE as sterling slides on Brexit impasse

* Centrica, SSE recover from energy cap concerns (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)