Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Centrica    CNA   GB00B033F229

CENTRICA

(CNA)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

E.ON UK to raise energy prices by 10 percent from April

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/11/2019 | 07:38am EST
A shareholder carries a bag with the logo of E.ON during the company's annual shareholders meeting in Essen

LONDON (Reuters) - E.ON will raise its standard variable energy prices by just over 10 percent from April, becoming the first of Britain's "big six" energy firms to announce a rise in line with regulator Ofgem's new price cap.

Last week, Ofgem said the cap on duel-fuel bills - both gas and electricity - would rise by 117 pounds a year, or 10.3 percent, to 1,254 pounds a year from April 1 for average energy use.

"In line with that, we'll be making changes to our standard variable tariff prices from 1st April and expect to see similar movements across the energy industry," an E.ON UK spokeswoman said via email.

Ofgem was told by parliament last year to set a limit after lawmakers said customers were being overcharged for electricity and gas. Prime Minister Theresa May had called the tariffs a "rip-off".

The regulator last week said the cap would rise from April to reflect higher costs for energy suppliers such as wholesale prices, which it said were 17 percent higher than during the last cap period.

Several of Britain's biggest suppliers, a group known as the big six, which control around 70 percent of the market, complained the cap was initially set too low and most are expected to up their prices to match the cap level.

Innogy's npower said the cap was partly why it announced plans last month to shed 900 jobs.

Britain's other big six energy suppliers are Centrica British Gas, SSE, Iberdrola Scottish Power and EDF Energy.

(Reporting by Susanna Twidale; Editing by David Goodman and Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
CENTRICA -0.07% 137.45 Delayed Quote.1.96%
E.ON -0.02% 9.638 Delayed Quote.11.74%
ELECTRICITÉ DE FRANCE -2.79% 13.6 Real-time Quote.1.38%
IBERDROLA -0.11% 7.242 End-of-day quote.3.31%
INNOGY SE 0.57% 40.78 Delayed Quote.-0.44%
SCOTTISH AND SOUTHERN ENERGY 0.29% 1202 Delayed Quote.10.82%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CENTRICA
04:58aLONDON STOCK EXCHANGE : FTSE 100 lower as investors book in profits, Reckitt shi..
RE
02/12EDF Energy becomes second UK supplier to announce 10 percent price rise
RE
02/12CENTRICA : PGNiG - Eleventh LNG spot delivery
AQ
02/11E.ON UK to raise energy prices by 10 percent from April
RE
02/09Shell, Centrica and Tokyo Gas buy natural gas to be extracted in Mozambique
AQ
02/08LONDON STOCK EXCHANGE : FTSE 100 buckles under global growth worries
RE
02/08CENTRICA : From dirty coal to state-of-the art battery storage
PU
02/07CENTRICA : and ENGIE to trade power from Moray Offshore Wind Farm
AQ
02/07TOKYO GAS : Mozambique LNG project partners sign offtake deals for 4.6MTPA of LN..
AQ
02/07Energy bills set to rise for millions of Britons as regulator ups cap
RE
More news
Financials (GBP)
Sales 2018 27 145 M
EBIT 2018 1 422 M
Net income 2018 533 M
Debt 2018 3 262 M
Yield 2018 8,73%
P/E ratio 2018 12,81
P/E ratio 2019 11,57
EV / Sales 2018 0,41x
EV / Sales 2019 0,40x
Capitalization 7 836 M
Chart CENTRICA
Duration : Period :
Centrica Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CENTRICA
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 1,44  GBP
Spread / Average Target 4,5%
EPS Revisions
Managers
NameTitle
Iain C. Conn Chief Executive Officer & Director
Richard Neil Haythornthwaite Chairman
Christopher O’Shea Group Chief Financial Officer & Executive Director
Mike Young Group Chief Information Officer
Margherita Della Valle Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CENTRICA1.96%10 103
ELECTRICITÉ DE FRANCE1.38%47 563
ENGIE12.73%38 836
NATIONAL GRID PLC10.21%37 029
SEMPRA ENERGY6.53%31 542
ORSTED8.86%30 176