Centrica (CNA)

Sector:

Utilities

Index:

FTSE 100

136.95p
   
  • Change Today:
      0.30p
  • 52 Week High: 172.50p
  • 52 Week Low: 118.55p
  • Currency: UK Pounds
  • Shares Issued: 5,273m
  • Volume: 1,874,775
  • Market Cap: £7,221m
  • RiskGrade: 165

UK energy firms 'will have to refund' credit surpluses - Ofgem

By Frank Prenesti

Date: Wednesday 17 Mar 2021

LONDON (ShareCast) - (Sharecast News) - UK energy firms could soon be told to hand back £1.4bn of customer credit under new rules proposed by the industry regulator Ofgem.
The practice of keeping customers' cash has prompted worries that some suppliers may be the surpluses to fund otherwise unsustainable business practices.

Under the planned rules, energy firms will need to "auto-return" the extra credit to their customers every year on the anniversary of joining the supplier. Ofgem estimates that on average households stand to get £65 back.

"This is an important step in making the retail energy market fairer for consumers at a time when many are facing financial hardship," said Ofgem chief Jonathan Brearley.

Households usually build credit during the summer months when less energy is used.

Ed Dodman, a director at the Energy Ombudsman, said the new rules should help to tackle unrefunded credit balances, which accounted for more than 1,000 complaints to the ombudsman last year.

"We know from looking at complaints that suppliers can sometimes take too long to issue refunds, which can be stressful for consumers," he said.

"Just as people are expected to pay their energy bills on time, we think it's fair to expect energy suppliers to do the same with refunds."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Centrica Market Data

Currency UK Pounds
Share Price 136.95p
Change Today 0.30p
% Change 0.22 %
52 Week High 172.50p
52 Week Low 118.55p
Volume 1,874,775
Shares Issued 5,273m
Market Cap £7,221m
RiskGrade 165

Centrica Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.31% above the market average91.31% above the market average91.31% above the market average91.31% above the market average91.31% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Price Trend
42.99% above the market average42.99% above the market average42.99% above the market average42.99% above the market average42.99% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
63.15% above the market average63.15% above the market average63.15% above the market average63.15% above the market average63.15% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
64.07% above the market average64.07% above the market average64.07% above the market average64.07% above the market average64.07% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 3
Buy 6
Neutral 6
Sell 0
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Centrica Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 05-Oct-23
Paid 11-Jul-24 16-Nov-23
Amount 2.67p 1.33p

Trades for 24-Jun-2024

Time Volume / Share Price
13:37 1,875 @ 136.95p
13:37 1,001 @ 136.95p
13:37 1,989 @ 136.95p
13:37 3,733 @ 136.95p
13:37 1,478 @ 136.95p

Centrica Key Personnel

Chair Scott Wheway
CEO Chris O’Shea

Top of Page