Centrica

Centrica will cut around 4,000 jobs in the next few years as the company recorded a ‘significantly reduced profit’ in its business supply division.

The progress being made by battery storage technology was indicated by the awarding of contracts by the National Grid to several such projects in its capacity market auctions last week.

Six major energy companies have come together to call on the European Union to develop a more effective emissions trading system or ETS.

The chief executive of British Gas owner, Centrica, Iain Conn, says that the era of domination by the big six energy companies in the UK has come to an end.

GE’s recent acquisition of Alstom’s Power & Grid businesses gives the company a more robust global business presence at a time when the world is expected to invest a projected $17 trillion in power and grid technologies over the next 20 years to help develop more sustainable modern economies and improve the quality of life for the world’s population.

UK utility Centrica has proposed building a new gas-fired backup power plant at the site of the existing 360 MW Peterborough power station.

An 18-month investigation into the UK’s energy market has confirmed consumers were overcharged a total of £1.7bn but not recommended splitting the country’s ‘Big Six’ utilities as a remedy to failings in the market.

Centrica’s top management have used the occasion of their annual results announcement to call on the British government to re-draw the country’s capacity market scheme.

Centrica is preparing a bid of more than €1bn for Viridian, Northern Ireland’s biggest power company, according to people familiar with the deal.

Les Echos newspaper in France has reported that state utility EDF is considering selling assets worth $6.45bn later this year.