Centrica Share Discussion Threads

[disc0dave45] 11/4/2022 12:05

Current PE over 20x, forward PE over 40x, massively overvalued and value will out in the end! Back to SMA50 or not?Lovely weather for surfing :)

[diohohku] 11/4/2022 10:05

Well done Centrica, share price up 140% over the last 2 years. It's good to see we are still on the rise!

[disc0dave45] 11/4/2022 08:50

HTTPS://www.examinerlive.co.uk/news/uk-world-news/big-power-switch-uk-april-23652500.amp

[disc0dave45] 10/4/2022 10:13

Nothing wrong with smart meters, when they work (see the article), it's a personal choice that's my point and not mandatory even if BG try to make out it is.Just set your own payments anyway, it's not rocket science, BG's estimations will always be higher, they need good payers to compensate for bad debt.

[4spiel] 09/4/2022 21:19

Well what is wrong with a smart meter? If you suddenly use more they could up your monthly payments but if you just send them a payment for the extra use they cannot do anything in the short term unless it becomes regular.

[disc0dave45] 09/4/2022 19:40

Be careful BG customers, they will over charge if they can. Solution - pay by DD if possible and set your own payments, just be realistic!.They will try and get you on a smart meter too, tell them to go forth, it's not mandatory (unless a condition of a fixed contract).HTTPS://www.dailypost.co.uk/news/north-wales-news/customers-say-something-fishy-going-23624478

[disc0dave45] 08/4/2022 17:29

Quiet lately! :) (big smiley face)Still massively overvalued here and a long wait now for news (interims late July).

[disc0dave45] 08/4/2022 15:33

Back to 84 or down to 75?

[disc0dave45] 08/4/2022 09:37

HTTPS://www.thetimes.co.uk/article/centricas-chris-oshea-speaks-for-all-those-bosses-who-say-pay-is-no-motivation-dont-believe-them-xhr0rlnp0

[disc0dave45] 08/4/2022 09:36

HTTPS://www.naturalgasworld.com/no-room-for-gas-storage-in-new-uk-energy-strategy-97480

[the grumpy old men] 08/4/2022 09:29

Centrica should do well from the new strategy believes Barclays

Power generator Drax (980p target), Centrica (112p target price) and SSE (2000p target) are the key UK utility beneficiaries of the new energy strategy unveiled by the government today, says Barclays.

[waldron] 08/4/2022 09:22

GASWORLD NEWS

Natural Gas News
No room for gas storage in new UK energy strategy
Apr 7, 2022 3:55:pm

Summary

Whitehall did not mention a proposed scheme to revive Centrica's Rough storage facility.

by: Callum Cyrus



The new UK energy strategy paper makes no mention of introducing new gas storage following the closure of Centrica's aging Rough storage facility in 2017.

Centrica ceased gas injection and storage at the North Yorkshire facility due to safety concerns surrounding the infrastructure, which had endured past its intended lifespan. The gas field is still active, but the Competition and Markets Authority concluded that degradation of its facilities meant it was "no longer capable of safe injection operations."

The closure left the UK with few gas storage centres. As of April 5, the national reserve held just 5 TWh in storage, a position in stark contrast to most of the UK's western European peers, notably Germany (63.8 TWh), Italy (58.2 TWh) and France (29.3 TWh). The UK, however, does produce significant amounts of indigenous gas.

Whitehall's new energy strategy sets out to support all areas of the energy transition, from legacy fuels through new offshore licensing agreements to the potential end of the moratorium on shale gas, and renewable energy plants that could further reduce CO2 emissions as the UK continues towards its 2050 carbon neutrality objective.

The government unreservedly has stated that upstream oil and gas should be seen as a core energy source for years to come, and the industry widely welcomes that stance. That makes the absence of any gas storage policy in the document all the more surprising, particularly as plans to revive Rough with the state's backing had surfaced last year.

Greg McKenna, chief executive of Centrica Storage, had said the upgrades would go ahead if the government could establish regulated revenues to generate £1.6bn ($2.1bn). He told Tees Business at the time: "It is a £1.6bn development, no one is going to spend £1.6bn if there isn't some guaranteed return.

"We are looking for some government support model – it doesn't need money to go into it. If we can get a regulated model from government, we are prepared to go ahead and convert."

[waldron] 08/4/2022 09:17

PROACTIVE


Philip Whiterow

12:07 Thu 07 Apr 2022

)
Centrica, SSE and nuclear clear winners from new energy policy, says Barclays

Boris Johnson made nuclear and offshore key planks of his new energy strategy
Gas
Centrica should do well from the new strategy believes Barclays

Power generator Drax (980p target), Centrica (112p target price) and SSE (2000p target) are the key UK utility beneficiaries of the new energy strategy unveiled by the government today, says Barclays.

Nuclear energy in particular is poised to become a huge investment theme following the policy update, according to the bank’s analysts.

Boris Johnson’s proposals target 25Gw of new nuclear capacity by 2050, or 25% of Grid supply, compared to 4.5Gw currently.

The statement also included details of nuclear plans, technology types and plans for waste fuel disposal, including underground.

Eight new reactors are planned this decade alone with new small reactors or mini-nukes to form part of the pipeline.

Sizewell C, a 3.2GW reactor to cost c.£20bn, and Wylfa (2.7GW) are likely to get the go ahead as soon as possible believes the bank.

“We believe nuclear will become a huge theme.”

Offshore wind targets were also raised to 50Gw by 2030, against 40Gw previously.

The UK recently allocated offshore wind leases with 25Gw in ScotWind and 8Gw in England and Wales.

“With 10Gw already commissioned, 7Gw under construction, and a further 12Gw of sites under development this 50GW target is eminently achievable – albeit it would need some floating wind farms in the mix – the Govt estimates this at 5GW.”

Hydrogen capacity targets were also doubled from 5GW to 10GW hydrogen by 2030, with at least half from green hydrogen – utilising excess offshore wind power.

Shares in SSE rose by 0.4% to 1,812p, British Gas owner Centrica by 1.4% to 81.7p and Drax 1% to 840.5p.

[disc0dave45] 07/4/2022 17:29

O'Shea is a clownHTTPS://www.telegraph.co.uk/radio/what-to-listen-to/british-gas-boss-smooth-operator-excuses-dont-wash/

[disc0dave45] 07/4/2022 17:27

Don't think they are aware that Centrica don't know what they are doing with their share of nuclear assets and also it seems they aren't aware also that Macron will nationalise them anyway.HTTPS://www.proactiveinvestors.co.uk/companies/news/979124/centrica-sse-and-nuclear-clear-winners-from-new-energy-policy-says-barclays-979124.html

[waldron] 07/4/2022 12:08

The U.K. government on Thursday published details of its new energy security strategy, which includes renewed support for oil-and-gas extraction and 120 million pounds ($156.8 million) of funding for new nuclear power.

The government's strategy aims to accelerate the deployment of clean technologies, such as wind, nuclear, solar and hydrogen, but also support the domestic production of oil and gas.

The statement confirms that a new license auction for offshore oil-and-gas projects will be held this year.

"A licensing round for new North Sea oil and gas projects planned to launch in Autumn, with a new taskforce providing bespoke support to new developments--recognising the importance of these fuels to the transition and to our energy security, and that producing gas in the U.K. has a lower carbon footprint than imported from abroad," the government said.

However, this won't have an immediate effect on the current gas supply crisis in the U.K. and the rest of Europe, Professor John Underhill from the University of Aberdeen said. "Any gas and oil production that follows from an exploration licensing round is years away and so, is not a short-term solution for the U.K.'s gas supplies," he said.

Downing Street is also setting a new ambition to have an offshore wind capacity of up to 50 gigawatts by 2030, of which 5 gigawatts would be floating facilities, supported by lower approval times and overall streamlining.

Moreover, the strategy reaffirms the government's support for nuclear power, which is intended to meet 25% of the country's power demand by 2050. The government is launching a GBP120 million Future Nuclear Enabling Fund this month, and setting up a new body to bring forward new projects.

It also includes higher hydrogen production ambitions, consultations to accelerate onshore wind and solar deployment, and up to GBP30 million for heat pump manufacturing.

"We support the government's commitments in the Energy Security Strategy to accelerate the deployment of domestic clean power sources, build a modern energy system, and reduce demand for volatile international gas," Emma Pinchbeck, chief executive of industry lobby Energy UK, said.

FTSE 100 paper and packaging firm DS Smith PLC said that the government's strategy should be more far-reaching. "Diversified energy is to be welcomed, but the proposed renewable sources, along with nuclear power, won't deliver lower carbon energy at scale until 2030 and that is simply too late," Alex Manisty, the company's head of strategy, said.

Climate organizations and unions, which had been pushing for a windfall tax on oil-and-gas profits, reacted with skepticism.

Greenpeace said that the strategy fails to tackle soaring energy bills and take control of the climate crisis. "While there are some improvements on renewables targets, they have prioritised slow solutions, dishing out rewards to vested interests in the nuclear and the oil and gas industries, which won't tackle the cost of living crisis or reduce our dependence on gas," Greenpeace U.K.'s head of politics Rebecca Newsom said.

"Energy producers are making more cash than they know what to do with. A targeted windfall tax could get cash directly into the pockets of the people in this country who are facing the terrifying dilemma of heat or eat," Sharon Graham, general secretary at the Unite union, said.

"Looking beyond the 'aims' and 'ambitions' of this plan, there are serious questions about the worrying lack of specific commitments on U.K. jobs," said Gary Smith, general secretary at the GMB union.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

April 07, 2022 06:37 ET (10:37 GMT)

[disc0dave45] 07/4/2022 11:38

Will the UK's energy strategy work? HTTPS://www.bbc.co.uk/news/business-61019261

[jonojubb] 07/4/2022 10:59

What's peoples thoughts of a dividend coming back any time soon?

[misca2] 06/4/2022 17:11

Centrica
80.58 +1.10%

[misca2] 06/4/2022 17:10

PENSIONS Age



Centrica pension schemes appoint Schroders Solutions as OCIO
By Jack Gray 6/4/22

The trustees of Centrica’s pension schemes have appointed Schroders Solutions as their outsourced chief investment officer (OCIO) for their £10bn of assets.

The schemes’ assets will be managed in an open architecture framework, supported by asset management and investment solutions capabilities, and Schroders’ sustainability expertise.

In its role as OCIO, Schroders Solutions will help the trustees develop the schemes’ investment strategy, construct the portfolio, and manage and oversee third-party managers.

Furthermore, the trustees will be assisted by Schroders Solutions in fulfilling the schemes’ regulatory requirements.

As part of the mandate appointments, seven Centrica in-house investment specialists, led by its CIO, Chetan Ghosh, will join Schroders Solutions.

Schroders Solutions noted that the appointment, which is expected to be effective during Q2 2022, will reduce key man risk while ensuring continuity of service to the trustees.

Commenting on the announcement, Centrica pension schemes chair of trustees, Allan Whalley, said: “After a thorough selection process, supported by Isio’s investment team, we are very pleased to announce that we are partnering with Schroders Solutions under an OCIO model to take forward our investment strategy and deliver security for the members of the three Centrica pension schemes.”

Schroders Solutions head of OCIO and specialist situations, Neil Walton, added: “I am looking forward to welcoming Chetan Ghosh and his team into Schroders Solutions and working together to deliver a fully tailored OCIO service to the Centrica pension schemes.

“This appointment reaffirms Schroders Solutions’ aim of being the provider of choice for OCIO and fiduciary management services by offering an end-to-end solution through to buyout with a specific focus on robust portfolio construction, sustainability and bespoke service and reporting.”

[misca2] 06/4/2022 11:29

The U.K. government said Wednesday that it will create a new system operator to oversee the country's entire energy system.

The Future System Operator will look at Great Britain's energy system as a whole, integrating existing networks with new technologies such as hydrogen, the government said.

The body will be founded on the existing capabilities of current electricity-system operator National Grid ESO, and on National Grid Gas where appropriate.

The FSO will work to balance the electricity systems, ensure energy resilience and security, and provide strategic oversight of the system, the government said.

National Grid ESO said in a statement that it welcomes the announcement and that it will work with all parties to enable a smooth and successful transition.

"A fully independent system operator will help to transform Great Britain's energy system and cut customers' energy bills. Critically, the FSO will ensure that we will build a smart, efficient and flexible system that will mean that Britain moves to a secure low carbon and low-cost system," Jonathan Brearley, chief executive of energy regulator Ofgem, said.

Shares in National Grid PLC at 0927 GMT were up 0.04% at 1,211.5 pence.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

April 06, 2022 06:01 ET (10:01 GMT)

[disc0dave45] 05/4/2022 19:11

SMA50 77.3
Reckon 75 next
Still massively overvalued IMO, even at 75 gives a PE of 18.7, that’s a forecast forward PE of 37x……wow, a growth rating with growth halving!.