LONDON, May 19 (Reuters) – National Grid (NG.L: Quote, Profile, Research, Stock Buzz), Britain’s
biggest energy distributor, said investment in its home market
and ongoing U.S. restructuring meant the outlook was positive,
when meeting forecasts with a 25 percent jump in year profit.
National Grid also said on Thursday the process of finding a
new chairman was well under way. Management declined to comment
on reports that former BP (BP.L: Quote, Profile, Research, Stock Buzz) chief executive John Browne was
in the running, on a call with reporters.
LONDON, May 9 (Reuters) – British utility Centrica Plc
(CNA.L: Quote, Profile, Research, Stock Buzz) warned that rising taxes on North Sea oil and gas
production would erode profit growth this year and prompt it to
scale back investments, sending its shares to a nine-month low.
In March, Britain unexpectedly raised a supplementary tax
charge on North Sea oil and gas producers to 32 percent from 20
percent to help lower fuel duty for motorists. [ID:nLDE72M1PB]
LONDON, May 6 (Reuters) – Britain’s competition regulator is
looking at ways to open up the bus transport market after
finding operators face little or no competition in a move likely
to cap profits in the industry.
The Office of Fair Trading referred the local bus market to
the Competition Commission in January last year, following its
study on the sector and public consultation.
The Indian cricket team has not had a full-time local coach in over a decade since John Wright took over possibly the second most challenging job in world cricket in 2000. Barring the Greg Chappell debacle, the two other foreign coaches the team has employed have delivered.
India made the finals of the 2003 World Cup under Wright, and Gary Kirsten signed off after the team were crowned world champions in 2011. Interestingly, both Kirsten and Wright had inherited a team full of superstars low on confidence.
LONDON, April 11 (Reuters) – With oil prices at two and a
half year highs, UK-based investment manager Ecofin expects to
benefit from investing in cheaper, more efficient natural gas
and in renewable energy over the next two years.
Crude oil prices have risen 75 percent since the second
quarter of 2010, but natural gas prices have been largely flat,
partly due to prolific U.S. shale gas production, a market many
expect to remain over-supplied for years.
LONDON (Reuters) – Energy regulator Ofgem has told the nation’s biggest utilities that they must offer simpler and fairer tariffs so consumers can more easily compare prices.
The regulator said competition was being stifled by tariff complexity and a lack of transparency, and that it had found evidence that the ‘big six’ had raised prices in response to rising costs more quickly than they cut them when costs fell.
LONDON, March 21 (Reuters) – Britain’s energy regulator
Ofgem has proposed that the nation’s biggest utilities auction
up to a fifth of their electricity generation, as it tries to
break their control over the market.
Ofgem’s review found competition was being “stifled” by
tariff complexity, poor supplier behaviour, and a lack of
transparency, and the regulator said the influence of the “big
six” on the market had not diminished since its 2008 probe.
LONDON, March 18 (Reuters) – Asset management firm Foresight
Group expects Britain’s installed solar capacity to rise sharply
this year despite a government proposal to reduce support
tariffs for large-scale solar projects.
Britain proposed on Friday cutting financial support for new
solar plants with a capacity over 50 kilowatts (KW) from Aug. 1
because it wants to focus instead on supporting smaller
household and community-level projects. [ID:nLDE72H125]
LONDON, March 10 (Reuters) – British temporary power
provider Aggreko (AGGK.L: Quote, Profile, Research, Stock Buzz) forecast no growth in trading profit
this year due to a lack of major sporting contracts,
disappointing investors who had hoped for a stronger outlook.
The company had helped power the soccer World Cup, the
Vancouver Winter Olympics and the Asian Games in 2010, with the
events adding 87 million pounds ($140.7 million) to 2010
LONDON, March 3 (Reuters) – British engineering firm IMI
(IMI.L: Quote, Profile, Research, Stock Buzz) raised its long-term margin outlook at its key fluid
controls business, where the company plans to shift more
manufacturing to low-cost economies.
The maker of power generation equipment and drink dispensers
set a margin target of 20 percent for its fluid controls unit,
compared with an earlier target of 15 percent.