Centrica plc operates as an integrated energy company in the United Kingdom, the Republic of Ireland, Germany, Norway, rest of Europe, the United States, Canada, and internationally. The company operates through Centrica Consumer, Centrica Business, and Exploration & Production segments. It supplies gas and electricity to residential customers, as well as offers energy-related services; and generates power from combined cycle gas turbines and nuclear assets. The company also provides installation, repair, and maintenance services for domestic central heating, plumbing and drains, and gas and kitchen appliances; heating, ventilation, and air conditioning equipment; and water heaters, as well as offers breakdown services. In addition, it is involved in the procurement, trading, and optimization of energy; and supplies energy efficiency solutions and technologies to residential customers. Further, the company produces and processes gas and oil; develops new fields to maintain reserves; constructs, owns, and exploits infrastructure; and engages in the social enterprise investment fund activities. Additionally, it provides vehicle leasing, commercial, and insurance services, as well as energy management products and services; and operates a gas storage, and franchise network. The company also provides sea freight water transport services. It primarily supplies energy and services to approximately 25 million customers under the British Gas, Direct Energy, and Bord Gáis Energy brands. The company was formerly known as Yieldtop plc and changed its name to Centrica plc in December 1996. Centrica plc was incorporated in 1995 and is headquartered in Windsor, the United Kingdom. http://www.centrica.com
Six decades after British Gas imported the world’s first seagoing cargo of liquefied natural gas from the U.S., the company’s successor is preparing to repeat the act, but with a whole different set of challenges. https://finance.yahoo.com/news/more-american-lng-set-land-081017270.html
Centrica Plc said its chief executive officer will step down after a tumultuous five-year run at Britain’s largest energy supplier, which has lost two-thirds of its value and millions of customers during his term. Iain Conn, 56, announced his departure along with Centrica’s first dividend cut since 2015. He will leave the board in 2020 after he finishes an effort to fortify the utility against increasing competition and a government cap on what it can charge for its electricity and natural gas. https://finance.yahoo.com/news/centrica-ceo-step-down-first-061601740.html
Edited Transcript of Centrica PLC earnings conference call or presentation Tuesday, July 30, 2019 at 8:00:00am GMT https://finance.yahoo.com/news/edited-transcript-cna-l-earnings-194711282.html
LONDON, Sept 30 (Reuters) - Centrica has begun buying liquefied natural gas (LNG) from U.S. producer Cheniere under a long-term contract, the UK utility said in a statement on Monday. The first cargo was loaded on LNG tanker Gaslog Skagen over the weekend of Sept. 28-29 and is heading to Europe, Centrica said. Under their 20-year contract, Centrica will buy around 1.75 million tonnes of LNG per year from Train 5 of Cheniere's Sabine Pass production facility in Louisiana. The cargoes will be loaded on a free-on-board (FOB) basis, meaning Centrica chooses their destinations. (Reporting by Ekaterina Kravtsova; editing by Jason Neely) https://finance.yahoo.com/news/centrica-starts-buying-cheniere-lng-085630742.html
Centrica Plc has picked Goldman Sachs Group Inc. to advise on the potential sale of its controlling stake in exploration and production unit Spirit Energy, people familiar with the matter said. A deal could value the business at more than $2 billion, one of the people said, asking not to be identified because the information is private. Centrica is pursuing a sale of its stake in Spirit as the U.K. utility seeks to recover from a tumultous five-year period under CEO Iain Conn where it lost more than two-thirds of its value and shed millions of customers. It owns 69% of Spirit, while the remaining stake is owned by Bayerngas Norge’s former shareholders, according to the company’s website. Spirit was formed in 2017 after Centrica and Bayerngas Norge AS combined their upstream oil and gas units. The unit produces about 50 million barrels of oil equivalent a year and has an estimated 600 million barrels of resources and reserves across the U.K., Norway, the Netherlands and Denmark. Accounting firm KPMG is also working with Centrica on audit work for the transaction, according to one of the people. Representatives for Centrica and Goldman Sachs declined to comment, while a spokesman for Spirit said the company will “support the sales process as appropriate.” A representative for KPMG didn’t immediately respond to a request for comment. https://finance.yahoo.com/news/centrica-picks-goldman-2-billion-170125596.html
SAN FRANCISCO and HOUSTON, Oct. 31, 2019 /PRNewswire Intersect Power, a utility-scale renewable energy developer, and Direct Energy Business, part of Direct Energy, one of North America's largest energy and energy-related services providers, and a subsidiary of Centrica PLC, announced today that they have entered into a long-term solar power purchase agreement (PPA) for Intersect Power's Athos Solar I 250 megawatt (MWAC) project. This agreement enables Direct Energy to contract with Direct Access (DA) customers and Community Choice Aggregations (CCAs) as they decarbonize their electricity supplies. https://finance.yahoo.com/news/intersect-power-direct-energy-business-182400559.html
Centrica (LON:CNA), the owner of British Gas, said it’s on track to meet this year’s targets for net debt and cash flow after a “solid” performance by its key U.K. business in the four months through October."> Centrica (LON:CNA), the owner of British Gas, said it’s on track to meet this year’s targets for net debt and cash flow after a “solid” performance by its key U.K. business in the four months through October. Total accounts in the U.K. rose 136,000, with growth in services and home solutions more than offsetting a 107,000 reduction in energy supply accounts. “The rate of U.K. energy supply net losses was lower than in the first half of the year and significantly lower than in 2018, despite continued high levels of price competition and market switching,” it said. In North America, accounts increased by 86,000 and CEO Ian Conn also noted that regional margins improved. Centrica (LON:CNA) also said it has trimmed this year’s capital expenditure budget by 100 million pounds ($129 million) to around 800 million, and boosted expected cost savings this year by 50 million pounds to 300 million. https://finance.yahoo.com/news/premarket-london-centrica-says-track-021600592.html
Direct Energy Named A Top Five Favorite Electricity Company in Houston HOUSTON, March 9, 2020 /PRNewswire/ -- Direct Energy® has been nominated as one of the top five electricity providers in the Houston Chronicle's Best of the Best 2020 awards. The annual community choice awards celebrate and recognize companies across 11 different categories. Direct Energy was nominated in the Favorite Electricity category from more than 50 retail energy companies. North America's largest retail providers of electricity and offers many plans to meet the needs of customers. plans such as Free Nights and Weekends, and more." Plan choices include fixed term plans, 100% renewable energy plans, prepaid plans, time-of-use plans such as Free Nights and Weekends, and more. Bruce Stewart, president, Direct Energy, North America Home. "Our customers and our communities are at the center of everything that we do, and we are constantly tailoring our offerings to fit their needs. We strive to make customers' lives easier and are committed to powering what's next in their lives."">"It's an honor to be nominated by our customers," said Bruce Stewart, president, Direct Energy, North America Home. "Our customers and our communities are at the center of everything that we do, and we are constantly tailoring our offerings to fit their needs. We strive to make customers' lives easier and are committed to powering what's next in their lives." Houston community through its partnership with Texas Children's Hospital. Over the past five years, Direct Energy has donated $5 million to support a new heart center, where Direct Energy employees regularly volunteer at the hospital.">Direct Energy cares about its customers and the communities in which they live. Direct Energy has a Neighbor to Neighbor program that offers bill assistance to those in need. Annually the Neighbor to Neighbor program gives hundreds of thousands of dollars to help Texans keep their lights on. In addition to caring for customers, Direct Energy is committed to supporting the Houston community through its partnership with Texas Children's Hospital. Over the past five years, Direct Energy has donated $5 million to support a new heart center, where Direct Energy employees regularly volunteer at the hospital. March 17th online. The top three nominees will advance to the Best of the Best finalist list, and the winner will be announced at an awards gala on April 16. Direct Energy is one of North America's largest retail providers of electricity, natural gas, and home and business energy-related services with nearly four million customers. Direct Energy gives customers choice, simplicity, and innovation where energy, data, and technology meet. A subsidiary of Centrica plc (LSE: CNA), an international energy and services company, Direct Energy, its subsidiaries and/or affiliates, operate in 50 U.S. states plus the District of Columbia and 8 provinces in Canada. https://finance.yahoo.com/news/direct-energy-named-top-five-153200553.html
Coronavirus Is Starting to Hit Usually Safe Utility Earnings The outlook for Europe’s utilities and power generators is worsening as the coronavirus curbs energy demand and prices plunge. Utilities from Centrica Plc to EON SE are being hit on several fronts from lower consumption to customers not paying their bills, which may lead to earning downgrades. Analysts have also started to cut power price forecasts, indicating bleaker prospects for producers including Electricite de France SA and RWE AG. “European utilities face consensus earnings downgrades amid lower demand and prices for energy and environmental services as disruptions from the Covid-19 pandemic progress,” said Elchin Mammadov, analyst at Bloomberg Intelligence. He picked out Centrica and EON as being particularly at risk. Many of the companies were in a bind even before the virus hit. A glut in natural gas has driven prices down to their lowest in a decade, sending power down too. EDF, Europe’s biggest nuclear operator, said on Monday its profit forecast and nuclear output target could be revised down this year. While Centrica declined to comment, EON on Wednesday said the pandemic would squeeze its profitability this year, adding it was too early to gauge the size of the impact. The company expects lockdowns in the countries in which it operates will continue to curb electricity demand and hamper sales as people stay away from workplaces. It also expects the completion of infrastructure projects such as those to build electric car charging apparatus won’t be completed on time. https://finance.yahoo.com/news/coronavirus-starting-hit-usually-safe-112902585.html
