16 May 2013
The Top Penny Stocks newsletter for active penny stocks investors looking for penny stocks and pink sheet stocks
Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...
Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...
Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday
Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...
UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...
But Centrica says it will try to avoid more price rises for ‘as long as possible’ as it faces protests at its annual meeting on Mondayx
British Gas-owner Centrica enjoyed a huge boost from the cold snap, as consumers turned up the heating, driving consumption up by almost a fifth compared with last year.
The company, which raised prices by 6% shortly before the harsh winter set in, said any benefit from the “exceptionally cold weather” would be used to prevent further price rises “for as long as possible”.
Finance director Nick Luff said: “The fact is we make a margin selling gas. We will have made a higher margin because of the extra volume and we will use that to keep prices down during the rest of the year.”
But he said the cost of implementing the government’s energy efficiency scheme and higher transport costs would hit profits, while the gas price remains unpredictable – meaning there may be little extra to invest in keeping prices low.
Energy comparison and switching service uSwitch.com still welcomed the news at a time when consumers are struggling to pay bills. Ann Robinson, director of consumer policy at uSwitch.com, says: “British Gas has recognised the pressure facing customers and is using the financial gain from the extended cold weather to maintain its competitiveness. In plain English, this means that British Gas customers should expect no further increase in prices at least for the foreseeable future.”
Centrica faces protests at its annual meeting in London on Monday afternoon, as campaigners gather to challenge the company on price hikes, multimillion pound payouts to British Gas bosses, and plans for a new generation of gas power stations instead of cheaper, clean renewable energy.
Households’ average gas consumption was 18% higher in the first four months of 2013, compared with the same period last year, while electricity consumption was 3% higher. Residential customers in the UK also rose by 28,000 in the first four months of the year, which Centrica put down to competitive pricing and good customer service.
The company said this “strong performance” put it on course to meet expectations and deliver full-year profits before tax of £602m, down 1% on last year.
As an oil and gas producer, Centrica also benefited from higher commodity prices, and the group’s full-year earnings after tax are expected to be 2% higher at £1.4bn.
Findings Identify Technologies and Solutions to Improve Energy Efficiency by a Factor of 1043 in Mobile Networks and Substantially Benefit Fixed Line and Core Networks
The introduction of energy smart meters in 30 million UK homes will be delayed for more than a year, the government announces.
Read this article: Smart meter project is delayed
Energy drink maker Monster reported weak results. Investors are already worried about lawsuits alleging that the drinks are harmful.
See the rest here: Monster Beverage shares dive as legal woes mount
Changes to the state pension, clearer rights for consumers, and measures on energy and water, are among the government’s legislative programme set out in the Queen’s Speech.
View post: Plan to simplify pensions and rights