The chief executive of Centrica says the UK government ought to desist from building offshore wind farms and save £96bn in the process.
Qatar is rumoured to be discussing buying a big part of British Gas owner Centrica.
The managing director of British Gas, Chris Weston, is the latest executive to depart Centrica, as the company reels from successive leadership departure announcements.
Citing ongoing poor trading conditions, Centrica’s chief financial officer, Nick Luff, said the company is to sell three of its eight larger gas-fired power plants.
Centrica chief executive Sam Laidlaw says his company will not now bid to invest in new UK gas-fired power fleet as a result of the regulator’s announcement this week that it would call for an inquiry into the country’s energy market.
The Whitegate gas-fired power plant in Cork, Ireland has passed into the hands of Centrica, after the UK energy firm purchased the Irish state-owned energy provider, Bord Gais Energy.
The UK’s energy regulator, Ofgem, has warned that the capacity margin, the amount of excess supply above peak demand, may drop below the 2 per cent level in 2015, the lowest level in Western Europe.
UK energy regulator Ofgem has today unveiled new rules for the way Britain’s ‘Big Six’ utilities must trade electricity.
Rick Haythornthwaite, Centrica's newly appointed chairman, says the threat of power blackouts in the UK is no longer the "figment of a scaremonger's imagination".
Centrica plc's North American subsidiary, Direct Energy, has agreed to sell its Texas, US gas-fired power stations to Blackstone for $685m.