British Gas owner Centrica PLC (LSE:CNA) will get £39 million after its majority-owned Spirit Energy sold its final 15% interest in the Cygnus gas field, along with all other producing assets in the Greater Markham Area and Southern North Sea, to Serica Energy for a total transaction value of approximately £98 million. The deal includes £57 million in headline consideration and the transfer of £41 million in decommissioning liabilities.
UBS said Centrica PLC (LSE:CNA) has upside potential from a UK government consultation that could extend the life of existing nuclear assets via the Contracts for Difference (CfD) scheme. The UK government yesterday published a consultation on offering CfDs for existing reactors.
British Gas owner Centrica PLC (LSE:CNA) hailed the one-year life extensions of the Heysham 1 and Hartlepool nuclear power stations, where it holds a 20% stake. Both plants are now expected to operate until March 2028, with the extensions expected to add three terawatt-hours (TWh) of electricity generation between 2026 and 2030.
Citi has backed Centrica PLC's (LSE:CNA) purchase of a stake in the Grain liquefied natural gas terminal, calling the deal “good value” and supportive of long-term earnings. Centrica will acquire 50% of National Grid's Grain facility in a joint venture with Energy Capital Partners, valuing the asset at £1.48 billion including debt.
Centrica PLC (LSE:CNA) shares gained 2% after analysts pointed to the potential upside from its planned purchase, alongside Energy Capital Partners, of National Grid's Isle of Grain LNG terminal for £1.66 billion. The terminal earned £163 million in operating profit (before interest, tax, and other charges) in the year to March 2025, meaning Centrica would be paying roughly nine times that annual profit.
British Gas owner Centrica said on Thursday it will be jointly buying National Grid's Grain LNG terminal with U.S.-based infrastructure investor Energy Capital Partners for an enterprise value of about 1.5 billion pounds ($2.04 billion).
RBC has raised its price target on Centrica PLC (LSE:CNA) shares from 175p to 200p and reiterated its 'outperform' rating, citing the group's move to take a 15% stake in the Sizewell C nuclear project as a key catalyst for long-term value. The broker says the Sizewell C deal offers “a highly attractive agreement” for Centrica, with strong, low-risk returns and limited execution risk.
Citi sees plenty of reasons to stay positive on Centrica PLC (LSE:CNA), even though the company faced some headwinds in the first half of the year. Yes, profits at Centrica Energy were softer and a mild winter weighed on the residential business.
Centrica PLC (LSE:CNA) shares fell 1.2% after the British Gas owner reported lower profits and cash flow in the first half of the year, but increased its interim dividend 22% as it felt this was a resilient performance in a challenging market. Adjusted EBITDA of £0.9 billion was down 36% from the prior year, while adjusted operating profit roughly halved to £549 million.
Shares in Centrica PLC (LSE:CNA) jumped 4% after the government gave the green light to build Sizewell C nuclear power station, with the owner of British Gas committing £1.3 billion of investment. The new total cost to build the plant has been put at £38 billion, which will be split between consumers, taxpayers and private investors.
Downing Street has approved the final investment decision to go ahead with the Sizewell C nuclear plant, where British Gas owner Centrica PLC (LSE:CNA) has agreed to acquire a 15% equity stake. A funding model has been agreed that the government said spreads the estimated £38 billion cost of constructing the 3.2 gigawatt nuclear power station in Suffolk between consumers, taxpayers and private investors.
Centrica PLC (LSE:CNA) is preparing to acquire a 15% stake in the Sizewell C nuclear power station, according to reports. The British Gas owner has been in talks for several months over a potential investment in the Suffolk-based plant, which is backed by French utility EDF and the UK government.