We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Centrica Plc | LSE:CNA | London | Ordinary Share | GB00B033F229 | ORD 6 14/81P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.30 | 1.75% | 133.70 | 133.95 | 134.05 | 135.20 | 131.60 | 131.60 | 17,261,230 | 16:35:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electric Services | 26.46B | 3.93B | 0.7326 | 150.93 | 593B |
By Adam Clark
Centrica PLC (CNA.LN) has claimed that the U.K. government's proposed price cap on energy could force suppliers into cutting investment and damage the roll-out of smart meters.
In written evidence to parliament, published on Monday, the owner of British Gas said it was "concerned" about the government's claim that a price cap will remove 100 pounds ($133.82) from the average customer's bill.
Centrica said it posts an average profit per customer of GBP50 and the cap would therefore assume suppliers recorded no profit.
The company said it believes the case for the price cap has been built on the Competition and Market Authority's (CMA) estimate that customers were losing out on GBP1.40 billion in average on bills between 2012 and 2015--a figure that Centrica said has been "widely discredited" by former regulators and economists.
Centrica also said the price cap risks lowering customer engagement in having a smart meter installed, and could leave suppliers unable to recover the costs of the program.
The company said it opposes the introduction of a cap and proposes instead the phasing out of standard variable tariffs--more expensive pricing plans that are triggered when introductory fixed deals end.
Centrica also said that if a cap is introduced, it should be subject to appeal to the CMA, and be kept under constant review.
Shares are down 2.30 pence, or 1.6%, at 141.80 pence at 1422 GMT.
Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones
(END) Dow Jones Newswires
December 11, 2017 09:46 ET (14:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
1 Year Centrica Chart |
1 Month Centrica Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions