Centrica Share Discussion Threads

[nemesis6] 29/9/2021 14:53

Yes i need about £1.25 to get out....other than metro which is my biggest ever mistake these are second followed by ukog deb and Zenith all piles of dung but mtro may turn around dont think ill recoup losses there tho

[waldron] 29/9/2021 14:52

happy to do it hifc

[hifc231] 29/9/2021 13:19

You won’t see this above 60p until after 16th Nov (if you do), until they make their "Market Day" announcements .

Simply Centrica is so out of favor with the City, Media, Customers, and investment institutions etc, even if they issued a dividend, gained extra millions of customers, was the cheapest in the market it still wouldn’t move rapidly.

Yet we see firms (Rolls Royce, First Group, Tullow Oil) with massive debt, bad market conditions thanks to covid, yet they have recovered to respectable levels from their lowest, yet this one is still 72% off its pre pandemic price (95p). I’m afraid this is a one step forward 3 steps back kind of share. No fast mover here under any circumstances, just look at the irregular movement of the share price up tiny amounts and then down same amounts.

Very Strange share as if its kept artificially low for takeover, nationalization etc. but who knows, I just want 152p and im out (long long way to go).

[action] 29/9/2021 11:53

This should be above 60p looking at oil price.

[waldron] 29/9/2021 07:48

European markets head for mixed open after U.S. sees rate-induced sell-off

Published Wed, Sep 29 20211:15 AM EDT

Holly Ellyatt
@HollyEllyatt
cnbc


Key Points

European stocks are expected to open in mixed territory on Wednesday as markets become nervous after a rate induced sell-off in the U.S. in the previous session.

The U.K.’s FTSE index is seen opening 2 points lower at 7,031, Germany’s DAX 14 points higher at 15,285 and France’s CAC 40 14 points higher at 6,425, according to IG data.

[jayson26jay] 28/9/2021 14:31

Can't see this being a win for any energy supplier. That sale of direct energy was timely, will provide well needed working capital. If the £800 million costs from failed suppliers is correct, British Gas share is approx £150 million, long term the customers will pay, however some will need to come from greater efficiencies. Not good for customers or staff, or shareholders. Can say goodbye to any wishful thinking that the price cap will be removed or any return of the dividend.

[waldron] 28/9/2021 09:37

Al Gore's firm buys £483m stake in Octopus Energy Group

Published

1 hour ago

Wind Turbineimage source, Octopus Energy

A clean energy investment fund run by former US vice-president Al Gore has bought a 13% stake in British energy company Octopus in a deal worth £438m.

It means the supplier is now valued at £3.36bn, which is more than the owner of British Gas, Centrica, at £3.28bn.

The agreement comes after several UK energy suppliers have gone bust due to soaring wholesale prices making price promises to customers undeliverable.

Octopus is to use the cash injection to boost its green energy production.

Mr Gore's firm, Generation Investment Management, will initially make an investment of £219m, followed by a further £219m by June next year, subject to certain conditions, Octopus said.

The founder and chief executive of Octopus, Greg Jackson, told the BBC's Today programme that he believed Mr Gore was looking to invest in the "changes that we need to see in the energy system globally".

"After all, if we had more renewables here in the UK prior to the recent fossil fuel price crisis, we wouldn't be seeing such high prices for energy," he said.

Recent rises in wholesale gas prices have hit the UK energy market hard, with the country now having around 30 suppliers, compared to more than 70 in 2018. Seven smaller firms have collapsed since the start of August alone.

Over the weekend, Octopus, the UK's fifth largest energy supplier, announced it was taking on 580,000 customers from collapsed supplier Arvo Energy, after it was appointed by the regulator Ofgem.



Gas prices have risen four-fold in recent months, but Ofgem has rejected claims from the industry that the current energy crisis represents a failure to adequately regulate the market.

However, senior executives in the industry told the BBC the regulator knew full well that many smaller suppliers would not be resilient in the face of price rises that should have been part of the regulator's stress testing of the sector.

Mr Jackson said taking on customers from failed companies was "definitely not as financially attractive as growing customers in the normal way", but said it was an "incredibly important" move to make in the current crisis to restore confidence in the energy market.

"They (customers) did the right thing," he added. "They went and chose a great deal, it's no fault of their own."


As well as Generation Investment Management funding, Australian firm Origin Energy, which took a 20% holding in Octopus in May 2020, is also planning to inject a further £36.5m into Octopus to maintain the size of its shareholding.

Established less than six years ago, Octopus supplies 3.1 million households, and has operations in the US, Japan, Germany, Spain, New Zealand and Australia.

It currently creates enough green energy to power about 1.5 million homes and its Kraken technology, which enables customers to access power when it is cheaper and greener, has also been licensed to rivals.

[waldron] 28/9/2021 06:44

Europe heads for positive open as region continues to digest German election fallout

Published Tue, Sep 28 202112:18 AM EDT

Holly Ellyatt
@HollyEllyatt
cnbc

Key Points

European stocks are expected to open tentatively higher on Tuesday as markets in the region continue to monitor the latest developments after Germany’s inconclusive federal election.

The U.K.’s FTSE is seen opening 8 points higher at 7,071, Germany’s DAX 21 points higher at 15,603, France’s CAC up 7 points at 6,654 and Italy’s FTSE MIB 30 points higher at 25,824, according to IG.

[skinny] 27/9/2021 13:07

Highest since May - 56.20p.

[grupo guitarlumber] 27/9/2021 12:59

Centrica
55.44 +2.63%

[florenceorbis] 25/9/2021 05:13

An Unstoppable Natural Gas Rally

By Editorial Dept - Sep 24, 2021, 1:30 PM CDT


1. Oil Supply Disruptions Set To Ease

- With September seeing crude supply disruptions across continents, the upcoming months should bring most of that idled capacity back, also boosted by the end of field maintenance in Kazakhstan and Canada.

- Russia’s condensate supply was derailed by an August explosion at Gazprom’s condensate treatment plant, whilst Nigerian exports were hindered by oil spills and pipeline attacks.

- Shell, the main producer in the US Gulf of Mexico, indicated that repairing the West Delta-143 platform will take at least several months, shaving off some 250,000 b/d of production over Q4 2021.

- More than 16% of US Gulf of Mexico production is still shut-in, equivalent to almost 300,000 b/d as the pace of restoring output has weakened substantially this week.


2. Gas Prices Continue Their Insane Run

- Europe’s benchmark TTF pricing has netted another all-time high this week, with front-month ICE prices reaching €75 per MWh ($25 per mmBtu) this Monday, before dipping closer to the €70 per MWh threshold.

- In the meantime, spot LNG prices in Asia continued their upward movement, too, surging past $25 per mmBtu this week in unison with Europe.

- Russia’s pipeline gas monopoly Gazprom has still failed to book additional October capacity as it continues to replenish domestic inventories, while landed LNG prices in Europe are more than fourfold their seasonal average.

oilprice.co

[florenceorbis] 25/9/2021 05:02

EU Ministers Unveil Plan to Weaken Russian Grip on Gas Supply

5 hours ago

Europe’s energy ministers have joined forces to establish a plan that will reduce their dependence on foreign gas and purchase supplies as a bloc as part of a larger effort to combat Russia’s stake in the highly-coveted resource.

The plan is to purchase strategic gas reserves as a bloc with the goal of allegedly “countering221; Russian efforts to cut supply and hike prices.

The Times reported that prior to the European Union energy meeting on Wednesday, discussions were largely overshadowed by global gas shortages and forthcoming price spikes that many believe will prompt an energy crisis across Europe over the cold winter months.

“We’ve seen huge price increases,” said Dimitri Vergne, head of the energy team at the European Consumer Organization. “It’s worrying ahead of the winter, when gas consumption will necessarily increase.”

Gas accounts for over a fifth of the European Union’s energy mix, although it varies across the bloc — Russia provides 41% of the bloc’s gas.



Globally, the demand for gas has risen tremendously, and since the start of the year, wholesale gas prices in Europe have risen by 250%.

Some of the European nations at stake include Germany, France and Spain.

Alexey Miller, the head of Russia’s Gazprom, has warned that gas prices across Europe are more than likely to “reach new record highs” in the coming months.

The decrease in the volume of natural gas exports from Russia to northern Europe is a result of last year’s harsh and prolonged winter that caused a storage capacity — the maximum volume of natural gas that can be stored at a storage facility.

Individual EU countries are already intervening to ease the energy crisis, with Spain taking the lead after announcing emergency measures to cap energy prices and profits.

France has promised one-time payments of €100 (£86) for households struggling to pay their energy bills.

More recently, Annalena Baerbock, a German election candidate and leader of the Greens party, joined in on the chorus of individuals who have laid blame on Russia for gas issues.

Baerbock said that the German government should send a message to Moscow quoting, "Russia must stick to its promises and supply enough gas through the existing pipelines like it used to.”

Meanwhile, the energy ministry's spokeswoman, Suzanne Ungrad, said on Wednesday that Russia was fulfilling existing supply deals and did not disregard any long-term contracts.

sputnik international

[skinny] 24/9/2021 09:06

mroalan - I assume that's why the smaller companies are going under?

[waldron] 24/9/2021 07:31

cheers

dipa11
24 Sep '21 - 07:26 - 3875 of 3876
0 0 0

[dipa11] 24/9/2021 07:26

https://m.marketscreener.com/news/latest/ADRs-End-Higher-BP-Centrica-Among-Companies-Actively-Trading--36506420/

[waldron] 24/9/2021 07:13

European stocks set to edge higher as traders monitor Evergrande situation

Published Fri, Sep 24 20211:44 AM EDT

Matt Clinch
@mattclinch81
cnbc


Key Points

Shares of China Evergrande Group in Hong Kong fell around 7%.

The Wall Street Journal reported Thursday that Chinese authorities have told local officials to prepare for a potential demise of Evergrande.

LONDON — European stocks are set for a fairly flat open on Friday as investors react to central bank policy decisions and monitor developments surrounding China Evergrande Group.

The U.K.’s FTSE 100 is set to open higher by 2 points at 7,077, Germany’s DAX up 10 points at 15,650 and the French CAC up 1 point at 6,698, according to IG.

[jayson26jay] 23/9/2021 18:33

that direct energy cash is going to be useful this winter.

[waldron] 23/9/2021 18:18

U.K. fund managers see the U.K.'s gas crisis as a boon to the largest listed energy companies.

The gas crisis will spark consolidation and lead to more favorable policymaking that will boost their competitiveness, say big shareholders including RWC fund manager Ian Lance, whose holds British Gas parent Centrica PLC across his Enhanced Income and UK Equity Income funds.

Soaring wholesale gas prices, which are up 250% since January, are battering the sector. Seven energy suppliers have gone bust in recent weeks--smaller providers Avro Energy and Green said on Wednesday that they would cease trading. And Bulb, the U.K.'s sixth largest energy supplier with 1.7 million customers, is working with investment bank Lazard to secure funding, according to the Financial Times.

Those losses may be a win for the Goliath players--Centrica shares have surged almost 7% since Monday.

With small energy providers on the brink of collapse, Harrison Williams, an equity research analyst at Quilter Cheviot, said Centrica and E.ON SE are "both positioned well for further market consolidation."

Mr. Lance added: "If the industry consolidates around the remaining six to 10 players, that could also help restore the industry's profitability."

Another U.K. fund manager who holds Centrica stock said the supplier can take advantage of the crisis, given its large number of long-term contracts.

"This provides a degree of resilience to the U.K.'s gas and electricity needs, which up to this point has been underappreciated by policy makers," the fund manager said.

Russ Mould, investment director at AJ Bell, said it is possible that energy suppliers like Centrica and E.On, as well as multi-utility Telecom Plus PLC, emerge the stronger from the current turmoil.

"After all, smaller rivals are folding and less competition can mean more customers, better pricing or both," said Mr. Mould.

"Any consumers whose supplier had gone broke maybe tempted to head for a bigger, branded supplier and Centrica's British Gas brand fits the bill here."

Energy suppliers are unable to pass on the full increase in costs to customers due to the introduction of a price cap by industry regulator Ofgem in 2019, which sets the maximum price suppliers can charge customers per unit of electricity or gas.

Mr. Lance said the crisis shows that the energy price cap was a "poorly thought out policy that was politically motivated."

There are currently around 47 energy suppliers in the U.K., according to online price comparison website The Energy Shop. Less than 10 suppliers might survive, said Mr. Lance.

"To the extent that this forces U.K. government to re-think the price cap, it could be good for the remaining suppliers," said Mr. Lance, who estimates the policy has reduced Centrica's margins in U.K. residential supply from around 7% before the cap was introduced to between 2% to 3%.

The unnamed Centrica shareholder said he expected the U.K. company to take on more books of customers as more smaller rivals collapse but opt for those with "higher lifetime value."

"After a long period of declining customer numbers, it is likely [Centrica will] emerge with its customer numbers building from 7 million to maybe 8 million, and its competitive position enhanced."

"What we are finding in various areas--CO2, gas storage and the like--is that supply chain resilience is an area that has been underappreciated by policymakers," the anonymous shareholder said.

Centrica declined to comment.

British Gas said on Monday that it had agreed to take on customers of People's Energy after the supplier ceased trading. People's Energy had around 350,000 domestic customers and some 500 business clients.

Mr. Williams said there are also signs the industry regulator will "weigh the financial resilience of suppliers in its decisions alongside its desire for competition."

"The gas crisis may also result in the U.K. government tweaking or dropping entirely recent proposals for further increasing competition in the space with the proposals for opt-in switching from 2023 and a trial for opt-out switching to make it easier for consumers to find a cheaper deal," said Mr. Williams.

"Both proposals would have hampered the legacy suppliers, so any changes to the proposals following these market developments could be a positive for these firms in the sector."



Website: www.fnlondon.com



(END) Dow Jones Newswires

September 23, 2021 11:06 ET (15:06 GMT)