Centrica has appointed a new non-executive director to the company. Steve Pusey will become a member of its audit, nominations and remuneration committee. Mr Pusey is currently the chief technology officer of Vodafone after joining the company in 2006 but is set to retire in July this year.
British Gas owner Centrica and rival SSE saw nearly £1.5 billion wiped off their combined market values today after Labour called for new powers to force energy companies to cut household tariffs. Labour wants to give regulator Ofgem the ability to force the companies to pass on falls in the price of wholesale oil and gas to consumers which it was today estimated could knock £136 off the average bill. It set off nervousness among investors about the uncertainty surrounding the sector in the approach to May’s general election, with party leader Ed Miliband already having committed to a price freeze.
Centrica is celebrating a ground-breaking date in the history of UK gas exploration and production today. Gas from the Irish Sea was extracted, processed and piped into the National Grid for the first time on January 9th 1985, marking 30 years of production from Morecambe Bay, one of the country’s biggest gas reservoirs. At peak, the region produced enough gas to meet 20% of the UK’s domestic demand.
Centrica, the UKs biggest energy supplier, has announced its managing director of international downstream Chris Weston, will leave the company in December. Mr Weston has been with company for the past 11 years, leading a number of businesses in both North America and the UK.
Trust in energy companies is at an all-time low in Aberdeen.