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....It added that it was campaigning for mandatory pay ratio reporting to be introduced for all medium-sized and larger companies in a bid to help reduce levels of pay inequality in the UK. The survey comes as Centrica's annual report reveals that chief executive Iain Conn enjoyed a near-40% rise in remuneration to £4. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 01:21:15 PM
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....The boss of British Gas’s parent company was handed a pay increase of nearly 40% last year, a raise Labour attacked as “astronomical” and a “kick in the teeth” for millions of families living in fuel poverty. Centrica chief executive Iain Conn’s remuneration jumped from £3. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 03:35:51 PM
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Latest Finance News related to Centrica

Boss of British Gas owner gets 40% pay rise as millions live in fuel poverty image
....The boss of British Gas’s parent company was handed a pay increase of nearly 40% last year, a raise Labour attacked as “astronomical” and a “kick in the teeth” for millions of families living in fuel poverty. Centrica chief executive Iain Conn’s remuneration jumped from £3. ...
Bosses' incomes are 386 times higher than Living Wage image
Source : BBC [Read Article] Wednesday 22nd of March 2017 01:21:15 PM
....It added that it was campaigning for mandatory pay ratio reporting to be introduced for all medium-sized and larger companies in a bid to help reduce levels of pay inequality in the UK. The survey comes as Centrica's annual report reveals that chief executive Iain Conn enjoyed a near-40% rise in remuneration to £4. ...
Windfarms aren’t the real reason energy bills are rising. Blame the free market image
.... Theresa May and business secretary Greg Clark have both expressed concern for billpayers. But as Iain Conn, the chief executive of British Gas’s parent company, Centrica, said last week when his company reported a 4% rise in profits: “The government aren’t sure they need to intervene. ...
Barclays: triple the profits, but still a work in progress | Nils Pratley image
Source : Guardian [Read Article] Friday 24th of February 2017 07:09:13 AM
.... The idea that salvation for RSA implied submission to the big insurers’ fashion for consolidation couldn’t have been more wrong. Are standard tariffs at British Gas a raging rip-off or are they are “actually decent value”, as Iain Conn, boss of parent Centrica, maintains? We’ll await regulator Ofgem’s next views on interplay between fixed and standard tariffs. ...
British Gas worst-value tariffs are not 'evil empire', boss says image
Source : Guardian [Read Article] Thursday 23rd of February 2017 01:28:27 PM
....The boss of British Gas’s parent company has defended the worst-value energy deals that two-thirds of households are on, saying they are not the “evil empire”. Iain Conn, Centrica’s chief executive, claimed such standard variable tariffs, which are around £200 more expensive than the cheapest fixed-price deals, are good value, customers found them attractive and chose to be on them. ...
FTSE dragged down by ex-dividend firms image
Source : BBC [Read Article] Thursday 23rd of February 2017 12:36:49 PM
. (Close): The London market ended the day in the red, with Centrica among the biggest fallers following its latest results. ...
British Gas boss: 'We no longer have highest prices' image
Source : BBC [Read Article] Thursday 23rd of February 2017 10:48:43 AM
....British Gas has said the competitive nature of the UK's energy market was one of the reasons why its profits fell last year. Iain Conn, chief executive of Centrica, which owns British Gas, told BBC Breakfast's Ben Thompson that it's a challenging time in the UK energy market, but said the company was now very well valued in terms of its pricing. ...
British Gas says competition has hit profits image
Source : BBC [Read Article] Thursday 23rd of February 2017 09:02:22 AM
.... . The owner of British Gas, Centrica, reported a 4% rise in operating profit for 2016 to £1. ...
Gas and electricity prices may have to rise further, warns industry body image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 03:11:24 PM
....7bn (£2. 3bn) in 2016, and on Thursday the parent company of British Gas, Centrica, is expected to report that full-year earnings rose from £891m to £950m for its UK energy business. ...
British Gas price freeze is unlikely to impress customers image
Source : Guardian [Read Article] Sunday 19th of February 2017 07:00:02 AM
....However, the move – which is being funded by cost cutting – could prove to be a temporary respite for consumers, given wholesale prices are still rising. Barclays analysts said: “We expect [British Gas owner] Centrica will have to raise tariffs in August, or face a retail . ...
Scottish Power customers to be hit by 7.8% price hike image
Source : Guardian [Read Article] Friday 10th of February 2017 12:26:20 PM
.... The company, which has 5 million customers, said it was able to freeze its standard variable tariff because it had “significantly” reduced its own costs. “We’re pleased to give our customers on standard tariffs the peace of mind that the price they’re paying will remain unchanged until August,” said Mark Hodges, chief executive of a new consumer division at British Gas’s parent company, Centrica. ...
Booker Tesco deal has hedge funds in a funk image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
.... Sharpish. The chief executive of British Gas owner Centrica is fast establishing a reputation as the chap in the City who is always in the wrong place at the wrong time. ...
What did Rolls-Royce directors know about bribery scandal? 'No comment' image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:00:30 AM
....Iain Conn. The chief executive of Centrica, owner of British Gas, was the senior independent director at Rolls in 2010 and was on the board from 2005 to 2014. ...
He's had three strikes. Surely Pearson's chief executive is out? image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:19:40 PM
....So what – if anything – were the non-executive directors told at the time? Did they know about the 2010 report?. Iain Conn, these days chief executive of Centrica, was Rolls-Royce’s senior independent director in 2010. ...
Centrica has donated to US climate change-denying thinktank image
Source : Guardian [Read Article] Friday 16th of December 2016 06:00:45 AM
. British Gas’s parent company, Centrica, has given tens of thousands of dollars to a US thinktank that denies climate change and is backed by Donald Trump’s energy secretary. ...
British Gas owner Centrica says it will beat targets after cost cuts image
Source : Guardian [Read Article] Thursday 15th of December 2016 09:25:19 AM
. British Gas owner Centrica has upgraded its profit outlook after cost cuts and strong trading, a day after it emerged that three-quarters of its customers are on expensive variable tariffs. ...
Pound tumbles as FTSE 100 ends higher image
Source : BBC [Read Article] Thursday 15th of December 2016 09:04:46 AM
....". Overall, the biggest riser on the FTSE was Centrica, which maintained its earlier gains sparked by the news that it was raising its profit forecast for the year. ...
New battery power-storage plants scheduled to keep UK lights on image
Source : Guardian [Read Article] Friday 9th of December 2016 06:24:39 PM
.... No new gas power station of a significant scale won a subsidy contract in the bidding process, where companies and technologies competed to provide backup power for the lowest price during the winter of 2020-21. However, the British Gas owner, Centrica, won support for a small-scale gas power plant to be built by 2019 at King’s Lynn in Norfolk. ...
Batteries charged to play bigger role in UK energy grid image
Source : BBC [Read Article] Friday 9th of December 2016 01:53:05 PM
.... . Centrica is among the energy providers who have signed deals to provide battery storage capacity in 2020-21. ...
SSE to freeze energy prices this winter image
Source : Guardian [Read Article] Friday 18th of November 2016 03:01:42 PM
....The company said prices would not rise until April 2017 at the earliest. The move puts pressure on rivals Iberdrola’s Scottish Power, Centrica’s British Gas, RWE’s npower, EON and EDF Energy to do the same. ...
Invest in equity income funds to fight inflation image
Source : Daily Express [Read Article] Wednesday 26th of October 2016 12:01:00 AM
....There are no guarantees, as cash-strapped companies are free to reduce dividends or even scrap them altogether. Barclays, Lloyds, Tesco, Sainsbury’s, British Gas owner Centrica and insurer Aviva are just some of the household names to cut their dividends in recent years. ...
AA drives into mortgage market with fixed-rate deals image
Source : Guardian [Read Article] Tuesday 23rd of August 2016 06:00:07 AM
....The mortgage launch comes a year after the AA announced its partnership with Bank of Ireland’s UK division, and adds mortgages to credit cards, savings accounts, cash Isas and personal loans. It first began offering savings products in 2004 before the business was sold by then owner Centrica. ...
British Gas profits fall as it loses 400,000 customers image
Source : BBC [Read Article] Thursday 28th of July 2016 07:34:05 AM
....Profits at British Gas fell by 7% in the first half of the year as nearly 400,000 customers switched energy suppliers. British Gas-owner Centrica said that its UK home operating profit fell to £516m in the six months to 30 June. ...
Major gas store shutdown prolonged image
Source : BBC [Read Article] Friday 15th of July 2016 09:49:09 PM
. Wholesale gas prices have jumped after British Gas owner Centrica said it had been forced to shut a major storage facility for the winter. ...

Questor: CMA threat passes but political risk remains for Centrica
 image
Source : Telegraph [Read Article] Monday 4th of July 2016 06:28:58 PM
...
Related to :
Energy bills: plans for blanket ceiling on how much firms can charge ditched image
....”. Centrica, the owner of British Gas and the largest of the big six suppliers, welcomed the final CMA recommendations. ...
Licence to drill: Centrica awarded rights to explore Barents Sea image
Source : Guardian [Read Article] Wednesday 18th of May 2016 06:04:02 PM
. Centrica has walked into new controversy by obtaining a licence to drill for oil and gas in the Arctic. ...
City news: Hotel Chocolat, Morrisons, Centrica and the service sector image
Source : Daily Express [Read Article] Friday 6th of May 2016 12:00:00 AM
....”. ENERGY giant Centrica lost 10 per cent of its market value after announcing a £750million share sale to fund acquisitions and pay off debt. ...
Centrica upsets investors with £700m sale of new shares image
Source : Guardian [Read Article] Thursday 5th of May 2016 03:07:07 PM
. Centrica has upset investors by issuing £700m of new equity as it attempts to boost its financial position in the face of tumbling commodity prices and a loss of retail customers. ...
City News: Travis Perkins, Metro Bank, British Gas and N Brown image
Source : Daily Express [Read Article] Wednesday 20th of April 2016 09:09:00 PM
....BRITISH Gas plans to axe 684 jobs in its services business with the closure of an office and call centre in Oldbury, in the West Midlands. The firm, that lost 224,000 residential customers in the first quarter, said the move was part of an efficiency drive by parent Centrica to “remain competitive in a fast-changing market”. ...
Time to turn up the heat on energy companies and seek your refund image
Source : Daily Express [Read Article] Wednesday 20th of April 2016 02:45:00 PM
....All households should submit regular readings to ensure accurate bills and avoid major credit or debt. Disgruntled customers continue to ditch big energy suppliers with results from British Gas, owned by Centrica, showing the energy giant is shedding customers at the rate of 900,000 a year. ...
British Gas to close office and axe 684 jobs in the West Midlands image
Source : Guardian [Read Article] Wednesday 20th of April 2016 11:49:45 AM
....The chief executive, Iain Conn, announced last summer that he planned to cut 6,000 positions across the group, with 5,000 in Britain. The latest cuts announcement comes two days after the parent company, Centrica, admitted it had lost 220,000 British Gas domestic customers in the first three months of the year. ...
British Gas loses 224,000 customers in three months amid anger over boss' £3.7m salary image
. The provider's parent company Centrica said the the drop in customers came as long-term fixed-price contracts finished, and consumers switched suppliers to smaller rivals - that typically offer lower costs to homes. ...
British Gas lost 220,000 customers in first three months of 2016 image
Source : Guardian [Read Article] Monday 18th of April 2016 07:22:42 AM
....British Gas lost more than 220,000 customer accounts in the first three months of this year, almost double the number for the whole of 2015, as consumers turned away from the big energy providers. Centrica, the parent company of British Gas, said the number of domestic accounts fell by 224,000 to 14. ...
Sir Martin Sorrell defends £63m pay package ahead of AGM image
Source : Guardian [Read Article] Sunday 17th of April 2016 11:01:01 PM
....”. The comments came as Centrica, the owner of British Gas, holds its annual general meeting on Monday, after suffering a significant pay protest last year. ...
Source : Reuters [Read Article] Thursday 14th of April 2016 07:26:23 AM
.... A record number of British energy users have switched from large to independent electricity and gas suppliers, Britain's energy lobby group said on Wednesday, showing that smaller providers are continuing grow retail market share. The country's big six energy suppliers, EDF Energy, Centrica's British Gas, SSE, Scottish Power, RWE npower and E. ...
BP facing revolt over CEO's $20m pay package image
Source : Guardian [Read Article] Friday 8th of April 2016 04:53:19 PM
.... On the same day, housebuilder Persimmon and mining company Rio Tinto will also meet their investors. In the coming weeks, companies such as Centrica, HSBC and Barclays are also holding annual meetings. ...
All you need to know about Hinkley Point image
Source : BBC [Read Article] Tuesday 22nd of March 2016 07:05:58 PM
.... . British Gas owner Centrica took a 25% stake which it later jettisoned. ...
Axa's Henri de Castries resigns, fuelling HSBC speculation image
Source : Guardian [Read Article] Monday 21st of March 2016 11:31:47 AM
....De Castries, who joined the HBSC board this month, said he was leaving Axa with “great emotion” . The HSBC recruitment process is being led by board members Sam Laidlaw, the former chief executive of British Gas owner Centrica, who heads the nominations committee, and Rachel Lomax, former deputy governor of the Bank of England, who is the senior independent non-executive director. ...
Mining stocks weigh on FTSE 100 image
Source : BBC [Read Article] Monday 21st of March 2016 09:40:43 AM
....6% to 495. 7p, while peers Anglo American and Centrica also dropped. ...
HSBC embarks on boardroom overhaul image
Source : Guardian [Read Article] Friday 18th of March 2016 12:29:51 PM
.... The prospect of boardroom changes has been in focus since the bank announced last month that it would keep its headquarters in the UK, where it has been based since 1992 after buying Midland bank. Headhunters have been retained by the bank and the process will be led by board members Sam Laidlaw, the former chief executive of British Gas owner Centrica, who heads the nominations committee, and Rachel Lomax, former deputy governor of the Bank of England, who is the senior independent non-executive director. ...
British Gas owner Centrica's CEO earns £3m in his first year image
Source : Guardian [Read Article] Wednesday 16th of March 2016 01:19:33 PM
. Iain Conn, the chief executive of British Gas’s owner Centrica, earned £3m in his first 12 months despite overseeing a fall in underlying profits and making thousands of job cuts. ...
If Hinkley Point doesn’t go ahead, it could be lights out for one big political career image
....Plan B for the Conservatives would, undoubtedly, involve more fossil fuels – more gas-fired power stations – with all the implications for breaking the country’s carbon emission targets. But the government has been trying to get power companies, such as Centrica, to build new gas plants by offering subsidies through the “capacity mechanism” and has so far failed. ...
Doubts over EDF's Hinkley nuclear plan image
Source : BBC [Read Article] Saturday 12th of March 2016 04:00:07 PM
....By Simon Jack, BBC News business editor. Imagine British Gas owners Centrica were in financial trouble after sinking billions into a French power station. ...
EDF 'confident' of Hinkley go-ahead image
Source : BBC [Read Article] Saturday 12th of March 2016 03:00:40 AM
....By Simon Jack, BBC News business editor. Imagine British Gas owners Centrica got into financial trouble after sinking billions into a French power station. ...
Competition regulator's energy market plan 'will lead to junk mail deluge' image
....However, the regulator has retreated from more radical proposals amid ferocious lobbying from the energy sector. Shares in British Gas’s owner, Centrica, rose slightly on Thursday as the City realised the proposed changes would not have a severe impact. ...
Storm of big six lobbying put the dampeners on energy supply reform image
Source : Guardian [Read Article] Thursday 10th of March 2016 02:37:44 PM
....However, it was not temporary precipitation that meant the CMA produced a damp squib but months of ferocious lobbying by the big six to ensure the industry is left largely in its existing state. To add insult to consumer injury, the City of London marked up the share price of Centrica, the owner of British Gas. ...
Millions could see cut in energy bills image
Source : BBC [Read Article] Thursday 10th of March 2016 07:40:12 AM
....Energy firms will receive the full report next week and there will be a period of consultation. Centrica, which owns British Gas, said that if the proposals were "thoughtfully" implemented, they should enhance competition. ...
Source : Reuters [Read Article] Thursday 10th of March 2016 07:23:23 AM
....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. ...
Source : Reuters [Read Article] Thursday 10th of March 2016 07:23:23 AM
....7 billion pounds a year more than they would have done in a competitive market. The inquiry, which is set to conclude by June 25, is intended to clear up once and for all whether SSE, Iberdrola's Scottish Power, Centrica, RWE's npower, E. ...
Npower confirms 2,400 job cuts as it makes £99m loss image
Source : Guardian [Read Article] Tuesday 8th of March 2016 08:45:49 AM
....As well as persistently low wholesale electricity prices, npower has faced competition from newcomers such as Ovo and First Utility. Its job reductions follow announcements of cuts at Centrica, the owner of British Gas. ...
Npower to cut up to 2,500 jobs in UK and overseas image
Source : Guardian [Read Article] Sunday 6th of March 2016 02:25:40 PM
....“We will be demanding urgent answers and assurances from npower over the coming days as we seek to protect as many jobs as possible,” said Kevin Coyne, Unite’s national organiser for the energy industry. A spokesman for the GMB union said npower was the third major energy firm to announce significant cuts after Centrica and EDF. ...
If we get smarter, we won’t need so much power. Tell that to British Gas image
....In Britain these utilities have for decades used their financial and political muscle to keep their vested interests and fossil fuel assets in place. The CMA should have gone ahead with breaking up Centrica, SSE and the rest – not because it would have had a dramatic impact on immediate prices, although it would have helped, but because it would undermine their power base. ...
Plans for wide-ranging cap on energy bills expected to be scrapped image
Source : Guardian [Read Article] Friday 4th of March 2016 12:01:18 AM
....The Competition and Markets Authority (CMA) is also likely to announce that it is lifting a limit on the number of tariffs that companies can offer, scrapping a policy that was introduced by industry regulator Ofgem to provide more clarity for consumers. The CMA has already retreated from other, bolder moves that it threatened to make, including the breakup of large firms such as Centrica and SSE that dominate the wholesale as well as the retail markets. ...
Why are energy firms U-turning on green agenda now? image
Source : Guardian [Read Article] Sunday 28th of February 2016 01:59:56 PM
....But do we believe this is more that just words? Has it really got the support of all his members? And why the U-turn now?. In the end these are indeed just words on a page and do not, for instance, commit companies to build much-needed power stations: British Gas parent Centrica admitted recently that it had zero investment in new plants. ...
Chancellor urged to use budget to support ailing North Sea oil industry image
Source : Guardian [Read Article] Monday 22nd of February 2016 06:44:25 PM
....But Scotland’s deputy first minister, John Swinney, has urged Osborne to cut industry taxes once again and provide extra assistance such as loan guarantees. Iain Conn, chief executive of Centrica, owner of British Gas, has also called on Osborne to intervene, citing an estimated 65,000 job losses in oil and connected industries in 2015. ...
Share Hunter: Centrica can power ahead in the long run image
Source : Daily Express [Read Article] Sunday 21st of February 2016 06:42:00 PM
....This time around, they had the worst of both worlds. Centrica’s upstream exploration and production business struggled given the fall in commodity prices. ...
What do markets do when they fear their best hope of salvation? image
Source : Telegraph [Read Article] Thursday 18th of February 2016 07:56:23 PM
Centrica and Go-Ahead battle it out for title of most-hated business in Britain image
....The two men are in charge of companies battling it out for the unofficial title of most-hated business in Britain. Conn is the boss of Centrica, owner of British Gas, while Brown is the head of Go-Ahead, which operates the Thameslink, Southern and Southeastern rail franchises through its subsidiary Govia. ...
Our economic debate on Brexit has descended into insultingly superficial scaremongering image
.... A vote to leave the European Union would trigger an immediate recession; adversely affect UK output to the tune of more than 1 per cent a year for the next decade; put millions of jobs at risk; provoke a balance of payments crisis with sterling plunging 20 per cent or more; raise inflation; erode real incomes and pole axe Britain’s credit rating. Centrica, Britain’s largest household energy supplier, has even claimed that it will send gas prices soaring, not that it needs any excuse for that. ...
Centrica urges policy overhaul as it warns of 'looming gap' in UK energy supplies image
. Britain faces a "looming gap" in its energy supplies because of a series of failures in the Government’s scheme to keep the lights on, British Gas owner Centrica has warned. ...
'Slap in the face' Fury as British Gas profits surge to £574MILLLION image
Source : Daily Express [Read Article] Thursday 18th of February 2016 11:37:00 AM
....The firm said operating profits rose to £574million from £439m the year before as demand increased, while wholesale costs tumbled during 2015. Across the wider group at owner Centrica underlying earnings came in at £1. ...
Job losses gather momentum across UK and Europe image
Source : Guardian [Read Article] Thursday 18th of February 2016 09:41:34 AM
....Shell is also slashing jobs, with 7,500 gone and 2,800 losses still to come. British Gas owner Centrica is cutting 1,000 jobs this year as part of a net 4,000 cutbacks by 2020 (it is slashing 6,000 jobs but also creating 2,000 new posts). ...
Oil and mining stocks drag FTSE lower image
Source : BBC [Read Article] Thursday 18th of February 2016 08:25:45 AM
....54 points, with Anglo American the biggest loser. Shares in British Gas owner, Centrica, were the best performer, rising through the day to end up 7% after its drop in profit was smaller than expected. ...
New energy bill row after British Gas reveals bumper profits image
Source : Guardian [Read Article] Thursday 18th of February 2016 08:09:47 AM
....However, critics have always argued that the cuts have been small compared with the savings made from tumbling wholesale costs, partly caused by the collapse in the global price of oil and gas. Iain Conn, chief executive of British Gas’ parent group Centrica, denied the company was profiteering arguing it made a margin of £55 per residential customer each year, up from £42 in 2014 but in line with past averages. ...
British Gas profits rise 31pc to £574m image
Source : Telegraph [Read Article] Thursday 18th of February 2016 07:31:48 AM
.... . Iain Conn, chief executive of parent company Centrica, insisted it had passed on “all the impact of falling gas prices” so far but said there would be scope for further price cuts if costs remained low. ...
British Gas profits jump by 31% image
Source : BBC [Read Article] Thursday 18th of February 2016 07:25:52 AM
....British Gas said gas usage rose by 5% despite the warmest December on record, as 2015 had more normal temperatures compared with a very mild 2014. However, profits at its parent company, Centrica, fell by 12% to £1. ...
British Gas profits expected to have fallen as global commodity price plunge continues image
....3 million business and customer accounts. The moves come after Centrica completed a strategic review last July, under chief executive Iain Conn, which is aimed at delivering savings of £750million over five years. ...

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