Member Info for jedclampit

I think it's normal for a share to go down the day before results, many just don't want to sit on shares that could easy go down tomorrow.
No matter how positive the result could be share often still go down on the day or for a few days after results, better for many just to sit on cash and then buy back in. I mean it could be 55p tomorrow who knows.

PFD makes / cooks many of their products with heating gas or electric and as such I would have thought that PFD heating overheads would be going up for the next 6 months maybe by 20%-50%.
OK they must have hedged or been on some fixed costs but they will come to an end at some point just like us consumers.
Therefore I would have thought we could be looking at a big drop in profits at a later stage, which I guess will drop the sp .

Cannot understand why anyone is selling, they have just re-confirmed the offer of 400p. Think we should all be buying as much as we can at £2.95 ish

That might be the case but come on guys it doesn't matter how much you want to push the sp higher, nothing much is going to change until after the results come out. I am also still holding but what's the point in taking a big gamble now about where the sp is going just to be proved wrong. So I am not buying or selling anything until we know more next week. unless of cause it falls to 50p ish then I might be tempted to buy more.

I guess CNA must have thought they have enough gas for the next 6 months or so to cover all the new customers taken on within the last week without the help from the government. Otherwise why would they agree to take them on.
Does beg the question / comment Green boss Peter McGirr also made about the large companies also being in trouble in the coming months, unless that was just sour Grapes.

I think we all know / believe this should be much higher than this and maybe 75p by now, so is it just the chip shortage and the lack of new cars holding this down or what?

So are we getting to the place where we should be topping up or wait another few days for the results and any possible rights / placing which could send the SP down a little more?

Green's boss, Peter McGirr, told the BBC he had done nothing wrong and said bigger firms would soon face problems.
However, the government has cooled on the idea of loans to the industry, says BBC business editor Simon Jack.
Mr McGirr predicted: "You will see larger suppliers feeling the pain as well and they will come cap in hand for a bailout."

The BBC's Simon Jack says that while the government had been talking of state-backed loans for larger energy firms, that idea is now "very much on the back burner" and its intention is to "tough this one out".
The BBC has been told that ministers believe the current system for managing the failure of energy companies, which allows companies to recoup losses through an industry-wide levy, is working satisfactorily, even though it will add costs to millions of customers' bills.
So maybe at the moment no one is saying buy CNA , and maybe we should just wait a little longer to see what happens ?

I was watching a meeting between the government / uk energy and Ofgen and they were saying an approx cost of moving someone from an energy company that's gone bust to a major energy company like Centrica I guess was about £600.
I think that includes the cost of extra admin and more gas needed by the company, So maybe that's the sort of support that the government is giving to companies like Centrica to cover the 6- 12 months trade.
But if that is the case I don't really see any downside for Centrica as long as they have hedged enough gas at the right price for the next 6-12 months.

Avro Energy and Green both collapsed on Wednesday afternoon, hours after the sector's regulator warned "well above" hundreds of thousands of customers will have to be moved to new suppliers.

Avro Energy has 580,000 customers while Green Supplier Limited has 250,000.

Could that be more customers

Green Energy has become the latest provider to go bust following a sharp rise in wholesale gas prices.
The company, which employs 180 people, blamed "unprecedented market conditions and regulatory failings" for its collapse. It said that another energy provider would take on its 250,000 customers.

To come to Centrica from UK energy company Green to stop trading - BBC
Who knows , perhaps we will get another RNS today.!!!

Now there I agree 100%, we should never have got involved with china or EDF to fund these new power plants and just built another 10 as we all know it's the correct way to go but will the government ever get round to doing it.

OK skier1, what should be done ?
Make some suggestions rather than all this doom about brink of collapse

This cmarket is NOT about to collapse and in a few months will be forgotten about apart from the one's that went bust.
Centrica will should be one of the main benefiters from this as they could end up taking on another few million customers and replacing many / most of the one's they have lost over the last few years.
Centrica have hedged ahead by buying up gas at what maybe 1/4 of the current price and if they can keep all these new customers for a year or so they will end up making more profits, and I guess many of the customers that have / will move to Centrica will want to stay with a large company for safety and won't want this to happen to them again later on.
Just my view but this could be the start of Centrica taking it's rightful place at the top with a sp to match whatever it will be.

The government has struck a deal with a US firm that supplies 60% of the UK's carbon dioxide to restart production following food shortages warnings.
CF Industries stopped work at two of its fertiliser factories, which also produce CO2, due to soaring gas prices.
Carbon dioxide is widely used in the food industry, including in brewing and the packaging process for meat and salads to prolong shelf life.

It is not clear yet what incentives the government have offered the firm.
It could take as long as three days for the plants to start producing CO2 again at its plants in Cheshire and Stockton-on-Tees.
The move comes after one food industry group warned that consumers could start noticing gaps on supermarket shelves within days if there was no intervention in its supply.
Carbon dioxide, produced at the two plants as a by-product, is used when slaughtering pigs and chickens to stun them.

The government has struck a deal with a US firm that supplies 60% of the UK's carbon dioxide to restart production following food shortages warnings.
CF Industries stopped work at two of its fertiliser factories, which also produce CO2, due to soaring gas prices.
Carbon dioxide is widely used in the food industry, including in brewing and the packaging process for meat and salads to prolong shelf life.

It is not clear yet what incentives the government have offered the firm.
It could take as long as three days for the plants to start producing CO2 again at its plants in Cheshire and Stockton-on-Tees.
The move comes after one food industry group warned that consumers could start noticing gaps on supermarket shelves within days if there was no intervention in its supply.
Carbon dioxide, produced at the two plants as a by-product, is used when slaughtering pigs and chickens to stun them.

So we all know that the government wants us to switch to electric for heating your house and running electric cars, but at what costs.
Let’s take gas C/Heating to be replaced by electric which will cost maybe double to do the same job without the flexibility.
Now take cars, if you can re-charge your electric car at home it will be on overnight rates / economy 7 or similar which is cheaper than day rates but as soon as you go on to economy 7 set up your day tariff rates also go up, so you pay a lot more throughout the day on everything you use.
OK I would love to change to electric for all this but just how many solar panels would you need to cover normal use in the home and to also cover all your heating, would it ever pay for itself or take 25 years and for many never see a return and if you were young and moved could you take all the panels with you.?
Far too many question.

So we all know that this price hike is going to be short lived maybe what 3-6 months and it just looks like profiteering, so we can sign up / take over all these new customers on todays prices and because Centrica has forward bought at much lower prices that when the price drops back down Centrica can make much bigger profits.

We all know there hasn't been a winter yet and the useage for gas world wider shouldn't be any higher now than it was before the covid virus. OK Russia is building another pipeline to Europe and they have been playing games or trying to hold Europe to ransom about things.
For the last 3-5 years many have been saying including Centrica that they need more storage for gas but the industry and government have never got round to it so stocks are lower even before the winter sets in. Also I think the government have been thinking we will all move over to Solar / electric for heating and cars etc so we won't need so much gas, just how wrong are they and so short sighted all about going green.
So for the next few years we will all be held to ransom by Europe and russia for gas and electric because we can't make the move to build more N/power stations and generate more gas ourselves.What's the point in going very green if we have NO gas for homes or power staions and everyone has to pay another £1k - £2k a year for heating but have No money left for food and/ or enjoyment, just to say to the rest of the world UK are/ have gone green.
Come goverment get your act together, build more gas storage, use more coal, stop going so green in a short period of time and let's keep our standard of living.