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Centrica to sell its UK nuclear holdings

Centrica to cut 4,000 jobs and sell UK nuclear holdings   Beleaguered British Gas owner, lost 1.4 million customers last year The Week, UK  Feb 22, 2018

Centrica, the owner of British Gas, is cutting 4,000 jobs and sellings its nuclear holdings amid plummeting profits and customer numbers.

The energy supplier says group profits across operations in the UK, Ireland and North America fell by 17% to £1.25bn for the year ended December 2017. ……..

Centrica, which lost a total of 1.4 million customer accounts last year, is also looking to sell its stake in Britain’s nuclear power stations by 2020. The company bought a 20% share in Electricite de France SA’s UK nuclear operations in 2009 as an investment.  This stake is to be divested, “subject to ensuring alignment with our partner and being sensitive to Government interests”, Centrica said in a statement. ……

February 22, 2018 - Posted by | business and costs, UK

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