Centrica Share Discussion Threads

[waldron] 28/7/2022 07:44

2022 OUTLOOK POSITIVE WITH THE FOCUS ON FURTHER PERFORMANCE IMPROVEMENT

-- The strong operational and financial performance in H1 2022 leaves the business well placed as we head into H2 2022. We will continue to invest in and drive operational improvements, particularly given the uncertain economic environment which creates challenges for British Gas Services & Solutions, and also increases bad debt risk for our energy supply businesses.

-- If forward commodity prices were to stay around current levels and asset performance remains strong, we would expect full year adjusted earnings per share to be at, or even above the top end of the range of current sell side analyst expectations, which is currently 10.1p to 15.0p based on 12 forecasts published since our Trading Update on 10 May 2022.

-- However, as always there are significant uncertainties and a range of external factors we cannot control, most materially weather and commodity prices, both of which are exacerbated at current elevated commodity prices.

Balance sheet strength to facilitate growth and shareholder returns

-- We have introduced an updated financial framework which will underpin our strategy moving forwards.

Strong investment grade credit ratings

-- Maintaining strong investment grade credit ratings remain important to us for our energy procurement and optimisation activities, so maintaining a strong balance sheet will be key to our continued success. We are currently in a net cash position. However, we can see significant cash swings, particularly in times of volatile energy markets and economic uncertainty. As a result, we would expect to maintain a prudent balance sheet, providing resilience for the Group while ensuring the flexibility to invest in the attractive investment opportunities available.

-- It also means we will have the headroom to cope with further regulatory changes in the UK energy market. This includes the mandated ring-fencing of 100% of gross customer deposits, which we continue to believe is the right thing for customers.

Progressive dividend policy

-- We are reinstating an ordinary dividend and are declaring a 2022 interim dividend of 1.0p per share. We intend to retain our historic policy of paying roughly a third of the full year dividend as an interim. We expect the dividend to be progressive and dividend cover from earnings to move to around 2x over time, recognising the ratio is likely to vary each year dependent on the business cycle.

[garycook] 28/7/2022 07:26

So 3p for the year.Depending on profits !

[csalvage] 28/7/2022 07:19

1p dividend declared

[skinny] 28/7/2022 07:18

.


We have declared a 1.0p per share interim dividend, the first dividend to be paid since 2019, and intend to retain our historic policy to pay roughly one third of the full year dividend as an interim.

[supermarky] 27/7/2022 17:13

Here's hoping for a blue day tomorrow and some good strong positive news.

[mroalan] 27/7/2022 16:57

I think if they do announce a divi tomorrow there will be blood on the carpet, i can just see truss/sunack hoisting this one up, probably threaten to nationalize them.there will be a backlash but no mention that they haven,t paid one for five years ish or the price has dropped 75%.

[skinny] 26/7/2022 09:39

2+ year high @91.06p

[scemer] 26/7/2022 09:38

Supermarky whatever centrica is definitely on its way back there are lots positives now rough been looked at nuclear investment slicker and more competitive retail all to go for imho

[supermarky] 25/7/2022 20:27

As a long time holder still deep under water here i am hoping we can break out up from this resistance area on good results. After years of disappointment here is hoping.

[grupo guitarlumber] 25/7/2022 17:33

lol

one of my favourites

who would or could resist

[grupo guitarlumber] 25/7/2022 17:23

28-07-2022
Interim Results

[skinny] 25/7/2022 17:23

28th - link in the header.

[mroalan] 25/7/2022 17:21

Very quiet here since the bears departed, interims tomorrow?

[waldron] 21/7/2022 15:40

LBC

Centrica wins first approval to reopen UK’s biggest gas storage site

21 July 2022, 13:24


The North Sea Transition Authority said it had cleared a licence.

The UK’s biggest natural gas storage site has taken a step closer to reopening after the authority that governs the North Sea gave an initial go-ahead.

The North Sea Transition Authority (NTSA) said it had given a licence to Centrica – the first permission in a multi-stage process.

The authority said it was the “first stage of potential reopening” of the Rough gas storage field, which was closed in 2017.

“The award of a licence allows COUK (Centrica offshore UK) to progress with seeking the further regulatory approvals required before gas storage operations can commence, including further approvals required from the NSTA,” it said.

If Centrica wants to continue with the process it will have to get more permissions, from the Crown Estate and the Offshore Petroleum Regulator for Environment and Decommissioning.

Centrica is understood to be talking to the Department for Business, Energy and Industrial Strategy about the role Rough might play in helping to insulate the UK from shocks in the difficult gas market.

It is also looking to the future, hoping it might be able to use the site to store hydrogen.

Rough was closed in 2017 because Centrica thought the ageing site could no longer be run safely.

A review found that “as a result of the high operating pressures involved, and the fact that the wells and facilities are at the end of their design life and have suffered a number of different failure modes while testing, (Centrica) cannot safely return the assets and facilities to injection and storage operations”.

The company said major refurbishment would be needed and it would be too expensive, based on the cheap price of gas at the time.

The decision removed a large portion of the UK’s gas storage – it could hold enough gas to run the country for around 10 days.

Now gas is much more expensive, with the price beating several records in recent months, so the economics are different, and Europe is desperate for gas to see it through this winter as Russia threatens to turn off the taps.

On Wednesday the EU told member states to cut gas use by 15% until March amid tensions with the Kremlin over its unprovoked attack on Ukraine.

The proposal could be made mandatory if the European Commission wins the backing of members.

By Press Association

[norma_noog] 20/7/2022 22:07

CNA closing share price 87.82, down 0.76, minus 0.90%. Anyone heard from diohohku160?🚗;

[mroalan] 16/7/2022 12:37

Well as a very long term holder and Well above the present price, i have consistently thought they were doomed, three years at a guess, if as predicted they re start a div and i am going to change my stance to bullish.

[supermarky] 15/7/2022 17:20

good stong show lately with cna ever break out of the range on the 3 year chart?

[mroalan] 15/7/2022 08:30

Some body's new PM? over qualified perhaps? mro.

[mroalan] 14/7/2022 16:16

A second heavyweight broker has predicted British Gas owner Centrica will risk a PR furore with its first-half results by announcing bumper profits and a first dividend in three years.

[adrian j boris] 10/7/2022 06:59

Nationalisation of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in UK, according to top industry insider

By Francesca Washtell, Financial Mail On Sunday

Published: 21:50 BST, 9 July 2022 | Updated: 21:50 BST, 9 July 2022


The nationalisation of French energy giant EDF means it is unlikely to spearhead future nuclear power projects in the UK, according to a top industry insider.

The Hinkley Point C developer will instead focus investment on reactors in France, the source said.

French Prime Minister Elisabeth Borne announced last week that the state would buy the 16 per cent of shares in EDF it does not already own.