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Centrica PLC (CNA.L)

CNA.L on London Stock Exchange

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2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

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 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

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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 .