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Centrica PLC (CNA.L)

CNA.L on London Stock Exchange

138.00GBp
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

CMA Confirms Removal of Centrica's Rough Storage Site Undertakings
Wednesday, 13 Dec 2017 05:05am EST 

Dec 13 (Reuters) - COMPETITION & MARKETS AUTHORITY (CMA)::CMA SAYS HAS CONFIRMED ITS DECISION TO REMOVE UNDERTAKINGS FROM BRITAIN'S ROUGH GAS STORAGE.CMA SAYS REMOVING THESE WILL FACILITATE THE CLOSURE OF THE NORTH SEA GAS STORAGE FACILITY, WHICH HAS BEEN DEEMED UNSAFE BY ITS OPERATOR.CMA SAYS IN JUNE 2017 ROUGH'S OPERATOR, CENTRICA STORAGE LIMITED (CSL), ANNOUNCED THAT IT INTENDED TO CLOSE THE PLANT nEON3NS2PP.CMA SAYS FOLLOWING A REVIEW IT HAS DECIDED TO RELEASE THE FACILITY’S OWNERS, CENTRICA PLC (CENTRICA) AND CENTRICA STORAGE LIMITED (CSL), FROM THE UNDERTAKINGS.  Full Article

Centrica Plc says Spirit Energy Launched Following Completion E&P JV
Monday, 11 Dec 2017 02:14am EST 

Dec 11 (Reuters) - Centrica Plc ::SPIRIT ENERGY LAUNCHED FOLLOWING COMPLETION OF CENTRICA AND BAYERNGAS NORGE E&P JOINT VENTURE.  Full Article

Government Of Canada Names Direct Energy Business As Their New Natural Gas Provider
Friday, 8 Dec 2017 02:25pm EST 

Dec 8 (Reuters) - Centrica PLC ::DIRECT ENERGY - GOVERNMENT OF CANADA NAMED CO THEIR NEW NATURAL GAS PROVIDER FOR CORRECTIONAL SERVICES CANADA, DEPARTMENT OF NATIONAL DEFENCE.DIRECT ENERGY - CO ALSO NAMED NEW NATURAL GAS PROVIDER FOR PUBLIC SERVICES AND PROCUREMENT CANADA; TO PROVIDE SERVICES FOR NEXT 10 YRS​.  Full Article

Centrica sees FY ‍2017 adjusted EPS to be around 12.5 pence​
Thursday, 23 Nov 2017 02:00am EST 

Nov 23 (Reuters) - CENTRICA PLC ::‍TRADING CONDITIONS COMPETITIVE, PERFORMANCE DELIVERY SINCE MID-YEAR IN CENTRICA BUSINESS ENERGY SUPPLY BUSINESSES HAS BEEN DISAPPOINTING​.‍REMAINS ON TRACK TO ACHIEVE 2017 TARGETS​.‍SEES FY ADJUSTED OPERATING CASH FLOW TO BE ABOVE £2BN​.SEES ‍FY GROUP CAPITAL INVESTMENT TO BE BELOW £1BN LIMIT WITH E&P CAPEX AROUND £500M​.‍SEES INCREMENTAL REVENUE INVESTMENT OF AROUND £100M IN GROWTH AREAS​ FOR FY.SEES ‍LIKE-FOR-LIKE DIRECT HEADCOUNT REDUCTION OF OVER 1,500​ IN FY 2017.‍SEES NET DEBT TO BE WITHIN TARGETED £2.5-£3.0BN RANGE​ AT YEAR END.‍2017 FULL YEAR ADJUSTED EARNINGS PER SHARE ARE EXPECTED TO BE AROUND 12.5P​.‍ONE-OFF NON-CASH POST-TAX CHARGE OF £46M IN NORTH AMERICA UNIT, RELATING TO A REASSESSMENT OF HISTORIC RECOGNITION OF UNBILLED POWER REVENUES​.  Full Article

Centrica ‍signs balancing and hedging contract for onshore wind installation​
Tuesday, 7 Nov 2017 08:12am EST 

Nov 7 (Reuters) - Centrica Plc :SIGNS BALANCING AND HEDGING CONTRACT FOR EUROPE'S SINGLE BIGGEST ONSHORE WIND INSTALLATION​.NEAS ENERGY ENTERED ROUTE TO MARKET CONTRACT WITH SPONSORS OF ONSHORE WIND INSTALLATION MARKBYGDEN EET IN SWEDEN BASED ON BALANCING,HEDGING STRUCTURE.  Full Article

Centrica buys Restore NV for 70 mln euros
Friday, 3 Nov 2017 03:09am EDT 

Nov 3 (Reuters) - Centrica Plc ::CENTRICA PLC ACQUISITION.‍CENTRICA PLC HAS ACQUIRED RESTORE NV ("RESTORE"), EUROPE'S DEMAND RESPONSE AGGREGATOR, FOR EUR 70 MILLION (£62 MILLION)IN CASH​.‍BUSINESS WILL FORM PART OF CENTRICA'S INTERNATIONAL DISTRIBUTED ENERGY & POWER UNIT​.  Full Article

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

Premier Oil to sell North Sea pipeline stake to CATS

Dec 11 Premier Oil Plc will sell its 30 percent stake in a North Sea pipeline to UK gas infrastructure company CATS Management Ltd for up to 23.6 million pounds ($31.68 million), it said on Monday.