The Competition and Markets Authority (CMA) have announced that they have extended the deadline for their energy investigation by six months although it aims to publish its provisional decision on remedies in January 2016 with a view to reaching its final decision by the end of April 2016. After the publication of the initial findings […]
Centrica argue against CMA energy market proposals
Energy giant and owner of British Gas, Centrica have blasted the Competition and Markets Authority (CMA) for its recommendations towards the energy market. Centrica claim the proposals are based on “unsound” analysis. Centrica claimed that the proposed safeguard regulated tariff for sticky customers is “disproportionate” to the actual level of disengagement and questions the pool […]
Centrica job cuts as profits plummet
British Gas Business profits in the first half of 2015 have plummeted by 95% to just £3 million from £61 million last year after a new billing system caused billing issues, raising costs and hitting customer service levels. Centrica said the delay to issuing customer bills resulted in an increased bad debt charge and additional […]
Centrica increases dependence on Russian gas imports
Centrica are set to increase and extend its gas contracts with Norway and Russia, leaving the UK relying precariously on imports to meet domestic demand. Centrica will increase its contracted supply with Norway’s Statoil by 50 per cent, and with Russia’s Gazprom by 75 per cent in order to make up the shortfall left by […]