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Energy News: Sam Laidlaw Decries CMA Energy Investigation

In a piece of corporate ineptitude that could only be eclipsed by a non-apology from a government minister in an expense scandal (step forward Maria Miller), Sam Laidlaw has put up a good showing this last week.

Laidlaw, Chief Executive of Centrica, British Gas Business’ parent, decried the call for the CMA investigation into the energy markets saying:

“Prolonged period(s) of uncertainty could damage investment at a time when Britain’s energy security is being seriously challenged.”

Was pilloried by Alistair Phillips-Davies of SSE, with him saying:

“Throughout any inquiry it is time for this industry to listen and change, not be defensive or scaremonger.”

In direct reference to Laidlaw’s claims.

Gave his £851,000 cash bonus to charity gaining some measured praise and just a few days later…

Received just fewer than 600,000 new shares in Centrica that would generate him £1.9m in three years’ time when the scheme vests.

A Centrica spokesperson pointed out shares were of “no value at the moment” and would only be worth anything if Laidlaw could meet tightly drawn-up performance targets.

No wonder Laidlaw was so tetchy about a CMA investigation and its impact on his business and his package.

And there was us believing he was worried about the poor business and domestic consumer!

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