Centrica PLC (CNA.L) Key Developments | Reuters.com
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Centrica PLC (CNA.L)

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Latest Key Developments (Source: Significant Developments)

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 PLC - UK's Competition Markets Authority proposes energy price cap for some customers - Reuters News
Wednesday, 9 Mar 2016 09:05pm EST 

Centrica PLC:Britain's competition watchdog wants to impose an energy price cap for 4 mln households on pre-payment meters, a document seen by Reuters showed, a watering down of previous proposals - RTRS.The Competition Markets Authority (CMA) proposals on Thursday are the provisional outcome of an investigation into whether the country's largest energy suppliers, also known as the "Big Six", have distorted competition in the energy market.The inquiry, which was launched in June 2014, is intended to clear up once and for all whether SSE, Iberdrola's Scottish Power, Centrica, RWE npower, E.ON and EDF Energy were abusing their control of the market.The price control for pre-payment meter customers would reduce their bills by a total of 300 million pounds a year and will remain in place until 2020, the CMA said.Last year, the CMA had proposed a price cap for all customers on the most expensive tariffs.On Thursday, the CMA said that in total, customers may have been paying around 1.7 billion pounds a year more than they would have done in a competitive market.The watchdog also proposed that a database is created, to be controlled by the energy regulator, to allow rival suppliers to contact customers who have been on more expensive tariffs for three years or more with better deals.  Full Article

Centrica PLC earnings fall on energy price slump - Reuters
Wednesday, 17 Feb 2016 09:30pm EST 

Centrica PLC:Centrica, reported a 4 percent fall in 2015 adjusted earnings per share (EPS) on Thursday and said it would cut 1,000 jobs this year as it struggles with weak energy prices - RTRS.The utility, which owns household energy supplier British Gas, said full-year adjusted EPS came to 17.2 pence as it booked pretax charges of 2.4 billion pounds ($3.4 billion) on oil and gas assets and power stations.  Full Article

Centrica PLC sells 50 percent interests in Glens of Foudland, Lynn and Inner Dowsing wind farms
Friday, 5 Feb 2016 02:00am EST 

Centrica PLC:Says Centrica and its 50% joint venture partner EIG Global Energy Partners (EIG) have agreed a joint sale of the Glens of Foudland, Lynn and Inner Dowsing wind farms (GLID).Says the sale is to a consortium, comprising UK Green Investment Bank Offshore Wind Fund and funds managed by BlackRock, for an enterprise value of 423 million pounds.Says after repayment of debt associated with GLID and other costs, Centrica's net share of the proceeds will be about 115 million pounds.  Full Article

Centrica PLC says to cut 500 jobs to rein in costs - Reuters
Tuesday, 2 Feb 2016 04:18am EST 

Centrica PLC:Britain's largest energy supplier, British Gas, said on Tuesday it planned to cut around 500 jobs as part of an ongoing cost-saving programme announced by its parent company Centrica - RTRS."British Gas is well positioned to grow, but we must ensure that our costs allow us to be competitive for our customers," said Mark Hodges, chief executive of UK energy supply at British Gas. British Gas did not say where or when the job cuts will be made. - RTRS.  Full Article

Centrica PLC - UK watchdog extends energy market probe to June 2016 - Reuters
Sunday, 20 Sep 2015 08:00pm EDT 

Centrica PLC:Britain's competition authority has extended the deadline for its investigation into the country's largest energy suppliers by six months to late June 2016 to consider feedback from industry and consumer groups, it said on Monday - Reuters.Six suppliers -- SSE , Scottish Power, Centrica, RWE npower, E.ON and EDF Energy -- control more than 90 percent of the market and are under intense scrutiny because of public outrage over rising energy bills - Reuters.The Competition and Markets Authority (CMA) said it would aim to deliver the findings "well within" the new timeframe, with a provisional decision by January and a final decision by the end of April - Reuters.An interim update to the probe, published in February, showed most British energy customers who have not switched supplier and/or tariff have missed out on saving up to 234 pounds ($360) a year - Reuters.  Full Article

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British power utilities ordered to cap prepayment tariffs

LONDON Britain's largest energy suppliers have been ordered to cap some of their most expensive tariffs by the country's competition authority after a two-year investigation that found providers have overcharged customers by billions of pounds.