Taxpayers to pass up to £1.6bn to energy suppliers through price freeze
The cost of supplying homes is predicted to reach more than £80bn over the next year
Company
Centrica PLC
LON:CNA
Centrica plc is an integrated energy company operating predominately in United Kingdom and North America. In the United Kingdom, it operates three segments: upstream, downstream and storage.
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Centrica and SSE stay on Goldman Sachs' 'buy' list after Truss's energy package
The US investment bank sees three positive implications from Truss's plan
FIVE at FIVE: Truss rules out windfall tax, Musk and Bezos wealth rivalled, Lloyds, Aviva and other bosses meet chancellor and Heineken now owns 100% of Beavertown
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Energy companies jump as new PM Truss rules out windfall tax
New business secretary Jacob Rees-Mogg has also been given responsibility for energy, which has led to optimism and pessimism in different corners of the sector
Centrica is coining it so why does it need more cash?
Reports suggested the British Gas owner was potentially looking for “pre-emptive” extra funding
Centrica looks for more funds to help British Gas cope with energy crisis
Meanwhile, incoming PM Liz Truss is also looking at potential plans to help lower businesses energy bills
Gas prices surge after Nord Stream shut down
UK benchmark gas prices surged by 37% to reach highs of 560p per therm at one point on Monday but eased lower in the afternoon
UK energy cap forecasts cut on potential decoupling from European wholesale gas and electricity prices
This resulted in Auxilione slashing its energy price cap forecast for January by £620 to £5,012, while it lowered its prediction for April by over £1,400 to £6,269
Energy price cap to intensify spotlight on oil companies' profits
Harbour Energy uncomfortably in the spotlight ahead of energy threshold hike on Friday as it reported 12-fold increase in profits
British Gas to donate 10% of profits as energy price cap expected to rise
UK's largest energy supplier says the donation will make it easier for people to cope with soaring energy bills and living costs
Scottish Power boss proposes £100bn plan to cap energy bills for two years
Business secretary Kwasi Kwarteng, who is tipped to become chancellor if Liz Truss wins the Tory leadership race, is said to be considering the proposal
Energy cap forecast for next year hits £6,500
UK regulator Ofgem announces the price cap level for three months from the start of October on Friday
UK energy regulator to unveil price cap change on Friday
Ofgem will reveal the new limit for yearly energy bills next Friday
Centrica, Octopus among UK suppliers backing freeze on energy bills
Ministers met with energy bosses to discuss plans to raise a tariff deficit fund aimed at capping energy prices for two years
Centrica's Rough North Sea gas storage facility to be recommissioned after five years offline
Business secretary Kwasi Kwarteng has reportedly asked that Rough, 18 miles off the Yorkshire coast, be taken out of mothballs as the UK looks to ensure its energy security
Labour lays plans to pay for energy price cap freeze with 'windfall' tax
Party leader Keir Starmer said £8bn could be raised from taxing oil and gas profits, which could fund a freeze on the energy price cap this winter
Rishi Sunak proposes 'up to £10bn' to help with energy bills if he is PM
Opposing Tory candidate, Liz Truss, suggested her own proposals in her Q&A session at the event
Centrica agrees to multi-billion-pound LNG deal with US supplier Delfin Midstream
Agreement aligns with European push to diversify away from Russian gas supplies
UK energy bills could hit £4,500 next year as costs rise more than expected
Energy bills may reach an eye-watering £4,426.94 in the second quarter of 2023 before declining
Ofgem switch to quarterly energy price cap reviews faces backlash from campaigners
Analysts and campaign groups warn that the switch to three-monthly reviews of the energy price cap could push annual energy bills over £4,000