|Bid||136.00 x 534900|
|Ask||149.10 x 144700|
|Day's range||144.00 - 147.70|
|52-week range||123.10 - 213.00|
|PE ratio (TTM)||24.09|
|Earnings date||31 Jul 2018|
|Forward dividend & yield||0.12 (7.97%)|
|1y target est||152.56|
PRAGUE/FRANKFURT (Reuters) - Two Czech power companies are targeting fossil fuel-fired plants in Germany as part of a contrarian strategy to snap up older, polluting assets on the cheap from European energy giants going green. EPH and Seven Energy have submitted rival offers for French group Engie's (ENGIE.PA) plants near Munich and Bremen, as well as its 52 percent stake in a plant in Wilhemshaven, according to two utilities banking sources familiar with the matter. EPH and Seven Energy both told Reuters they were interested in acquisitions in Germany, but declined to comment on whether they had bid for the Engie plants.
PRAGUE/FRANKFURT, May 18 (Reuters) - Two Czech power companies are targeting fossil fuel-fired plants in Germany as part of a contrarian strategy to snap up older, polluting assets on the cheap from European energy giants going green. EPH and Seven Energy have submitted rival offers for French group Engie's plants near Munich and Bremen, as well as its 52 percent stake in a plant in Wilhemshaven, according to two utilities banking sources familiar with the matter.
** Centrica down 4.4 pct; bottom of FTSE 100 index ** Morgan Stanley cuts rating to "underweight" from "equal-weight" and TP to 115p from 160p ** Morgan Stanley says company continues ...
British Gas lost 110,000 customer accounts over the first four months of the year but remained on track for its full-year targets as the cold weather saw customers turn up their heating. Centrica (Frankfurt: A0DK6K - news) , which owns the energy firm, said the exodus - amid intense competition - had slowed compared to levels seen last year. It was not the only one of the Big Six energy firms to see large numbers of customers leave, with npower on Monday reporting a fall of about 120,000 customer accounts in the first quarter of 2018.
UK shares fell slightly on Monday following a strong run, while a potential bidding war for IWG triggered a surge in the serviced office provider's stock, the latest deal in a flurry of mergers and acquisitions. ...
FRANKFURT/DUESSELDORF, May 14 (Reuters) - Innogy CEO Uwe Tigges acknowledged on Monday that staff are leaving ahead of a merger that will see parent RWE (IOB: 0FUZ.IL - news) and rival E.ON split up the German energy company. The deal to split up of Innogy's renewables, networks and retail operations has sparked fears among management and workers, who fear they might have to bear the brunt of up to 5,000 job cuts E.ON is planning as part of the asset swap. Innogy, RWE and E.ON last week agreed with unions to cut jobs in a socially responsible way, a step that Innogy said went in the right direction.
PLC (CNA.LN) said Monday that it is on track to hit dividend and other financial targets for 2018, although it warned that costs linked to cold weather will hit its U.K. adjusted earnings in the first half. The utility company said adjusted operating profit in U.K. services for the first half will be lower than the year-earlier period, hit by higher costs due to extreme cold weather. In one week, Centrica fixed 145,00 breakdowns, its busiest week ever and more than double the normal weekly number, it said.
Centrica, which has been refocusing on core customer-facing energy and services business, said that net consumer customer account losses slowed materially despite strong competition. British Gas has said it will raise the price of its most widely used standard tariff for customers getting electricity and gas by an average of 5.5 percent from May 29. Other major suppliers among the "Big Six" who dominate the British energy market have followed suit, prompting criticism from politicians and consumer groups.
British Gas owner Centrica (Frankfurt: A0DK6K - news) stuck to its financial targets for the year, citing higher energy demand after a cold end to winter and a slowdown in consumer account losses. The company, which stepped up plans for job cuts and cost savings in February after posting a 17 percent fall in 2017 operating profit, also said there had been "good progress" on the delivery of the next phase of cost efficiency. Centrica, which has been refocusing on core customer-facing energy and services business, said that net consumer customer account losses slowed materially despite strong competition.
* Centrica on Monday said its Rough gas storage site will produce 9-11 million barrels of oil equivalent this year, slightly above expectations * Rough, which provides around 70 percent of Britain's gas ...
PLC (CNA.LN) said Monday that it is on track to hit its targets for 2018, although it warned of disruptions at its exploration and production division. The U.K. utility company said revenue growth is expected to be weighted to the second half of the year at its connected home and distributed energy and power segments. Net consumer customer-account losses in year to date have slowed materially relative to the average of 2017, Centrica said.
Britain's dominant energy companies have been under scrutiny by the government, which is putting a price cap on standard variable tariffs to combat what it has called "rip off" energy prices. The rise represents a 64 pound increase on annual bills and a direct debit customer on the tariff will typically pay 1230 pounds ($1,664) a year.
Npower will raise domestic fuel costs for one million British customers, saying its standard variable dual fuel price for gas and electricity would increase 5.3 percent from mid-June. Friday's price rise announcement comes despite intense political scrutiny of energy bills and follows hikes by Centrica (Frankfurt: A0DK6K - news) -owned British Gas, Iberdrola (Amsterdam: ID6.AS - news) -owned Scottish Power and EDF Energy, part of France's EDF (Paris: FR0010242511 - news) .
British regulators have launched an in-depth investigation into the tie-up between the retail power unit of SSE Plc and Npower, owned by Germany's Innogy, saying it may reduce competition and increase prices for some households. The merger would create Britain's second-largest retail power provider and reduce the "Big Six" dominating the market to five companies when they are already facing political scrutiny for their tariffs and pressure from smaller rivals. It also comes as German energy giants RWE (IOB: 0FUZ.IL - news) and E.ON plan to carve up Innogy.
The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, ...
(Reuters) - British Gas parent firm Centrica Plc (CNA.L) said Chairman Rick Haythornthwaite plans to step down in the next 12 months after more than 4 years in the role. Haythornthwaite joined the board ...
British Gas parent firm Centrica Plc said Chairman Rick Haythornthwaite plans to step down in the next 12 months after more than 4 years in the role. Haythornthwaite joined the board in 2013 and became ...
LONDON--(BUSINESSWIRE)-- 8 May 2018 Centrica plc (“the Company”) Centrica plc Board Announcement Centrica plc (“Centrica”, the “Group”) announces in advance of its AGM next week that its Chairman, Rick ...
Norway's state-owned grid operator Statnett is convinced blockchain technology can improve efficiency in the energy sector but there is a lack of specialist staff, its research and development director Sonja Berlijn told Reuters. Blockchain provides a secure platform for consumers to buy and sell directly from each other and is being explored by several European utilities which say it could revolutionise the energy sector. Implementing blockchain and artificial intelligence (AI) in the electricity system will reduce daily power consumption peaks and distribute utilisation across the day, possibly curbing the length of any consequent demand-related price spikes, said Berlijn.
Britain is so cold it’s keeping more of the natural gas it produces and imports for itself. Usually, with winter past and heating demand subsiding, Britain would have ample supplies to ship to the continent. Instead, cooler weather and outages at fields in the North Sea are supporting prices in Britain relative to rates on the continent.
British energy supplier Centrica (Frankfurt: A0DK6K - news) will launch a local energy market trial later this year using blockchain technology, it said on Monday. Blockchain provides a secure platform for consumers to buy and sell directly from each other and is being explored by several European utilities which say it could revolutionise the energy sector. Centrica said its trial is likely to be the largest blockchain project in Britain carried out by one of the big six energy suppliers.
LONDON/FRANKFURT, April 27 (Reuters) - German gas supplier VNG is attracting interest from private equity-backed energy firms including Chrysaor and Point Resources for its Norwegian Norge oil and gas business, which could fetch up to $500 million, three sources said. VNG, which last year hired U.S. investment bank Citi to sell a 51 percent stake in its Norwegian and Danish portfolio, is the latest European utility looking to exit offshore assets on the Norwegian continental shelf, which require heavy investment to develop. One of the sources said Chrysaor, backed by Harbour Energy, an investment vehicle of EIG Global Energy Partners, and Point Resources, which is majority owned by private equity firm HitecVision, would be joined by petrochemicals firm Ineos, which bought oil and gas business from Dong Energy (LSE: 0RHE.L - news) last year, and two more unidentified bidders at the mid-May auction set by VNG.
Britain's competition watchdog said the planned merger of SSE (LSE: SSE.L - news) 's retail power and gas business in the UK with Npower, owned by German rival Innogy , could lead to higher prices for customers and warrants further scrutiny. The watchdog said the merger would be referred for a longer Phase 2 investigation unless the parties offer acceptable undertakings to address the competition concerns. "We know that competition in the energy market does not work as well as it might," said Rachel Merelie, senior director at the Competition and Markets Authority (CMA).