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Centrica PLC (CNA.L)

CNA.L on London Stock Exchange

228.00GBp
20 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Centrica secures UK capacity agreements for 500 MW of new plants
Friday, 9 Dec 2016 03:36am EST 

Centrica Plc : Centrica says confirmed plans to build flexible power facilities having secured 15-year agreements for over 500 MW of new capacity in UK capacity auction . Centrica says 370 MW combined cycle gas turbine at King's Lynn awarded capacity agreement . 49 MW battery storage facility in Cumbria; two 50 MW fast-response distributed generation gas-fired plants at Brigg in North East Lincolnshire and Peterborough in Cambridgeshire also secured capacity agreements . Centrica says construction of new power facilities to start next spring .Centrica's Langage, South Humber Bank and Brigg gas-fired power stations and all 16 reactors in the UK's operational nuclear fleet, in which Centrica has a 20 percent equity interest, have also been awarded one-year capacity agreements starting in October 2020..  Full Article

Centrica to sell its equity interests in Trinidad and Tobago gas assets to Shell
Wednesday, 30 Nov 2016 07:00am EST 

Centrica Plc : Disposal . Agrees to sell its entire equity interests in Trinidad and Tobago gas assets to Shell . Deal for an initial cash consideration of $30 mln (£24 mln) . Assets consist of a 17.3 percent interest in producing NCMA-1 block . Assets also consist of 80 percent and 90 percent operated interests respectively in undeveloped blocks NCMA-4 and Block 22 . In addition to initial consideration, Centrica will receive further payments subject to block 22 and NCMA-4 reaching agreed project milestones .Transaction is subject to government and partner approval and is expected to close in first half of 2017.  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

UPDATE 1-Centrica completes exit from wind power with Lincs wind farm sale

LONDON, Jan 13 Britain's Centrica has completed its withdrawal from wind power generation with the sale of a 50 percent stake in the Lincs offshore wind farm to the Green Investment Bank and its offshore wind fund, the companies said on Friday.