George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
They will probably invest profits in returning Rough to a storage facility in conjunction with some government subsidy and possible Hydrogen conversion. Good for the long term along with investment in better customer interface by the number of complaints although I find the service to be first class.
Article from the FT
Perhaps now is a good time to revisit your articles from September 24, 2013 (“Cold gas tests sangfroid”, Lombard, and “Centrica cancels plans to build two gas facilities” Report).
The then (coalition) government decided to rule out subsidies to support a £240m investment by Centrica to build two gas storage facilities. Apparently the government “said there was no case?.?.?.?the UK energy market functioned well”. Really? Clearly, serial incompetence and bad judgment are not the sole preserve of the Johnson administration.
That’s a very good point, the gas contract has been very expensive, a good opportunity to level things up (I have heard that somewhere) I used to run a gas power station in England and when we signed the gas contract we felt a little hard done by at the cost…… it was 15pence a share. That was a 15 year contract in 1995 on a take or pay agreement. Happy days
O’Shea bought millions of shares today I believe, what does he know that nobody else does https://www.linkedin.com/posts/chris-fisher007_centrica-to-sell-peterborough-site-activity-6807580107046232064-fuj8
Gentlemen , I don’t know where you get your info from or ideas about the power market.
Centrica own 20% of British Energy with 80% at EDF this results in less revenue. Dungeness was a base load plant and does not two shift which generally is the market for gas power stations. This is bad news and will result in no sale of these asserts.
As far as less generation equals higher power prices remember the half waits at Centrica sold or retired several gig watts of flexible plant so they will see no benefit from this at all.
The hedge they had against rising power prices was their own generation assets but no more.
A further 18 billion cubic feet of gas is now expected to be
extracted from the field, which has already produced 45 billion
cubic feet of gas over the past eight years, Spirit said.
You appear to have knowledge on this to have that opinion. Wouldn’t the extra revenue pay for the decommissioning costs at the very least so surely a win?
When you look at what OVO Energy paid for SSE customers in a fire sale; £500 million for 3.2 million customers. The market cap for Centrica is £3.4 billion. Can anyone on here work out future value? Hydrogen storage at the Rough field could be a gold mine and Spirit assets do have value and who knows about the Nuclear asserts but as coal plant stops generating and there is not the volume of green generation to replace it the Nuclear stations will make a lot of money. This company has been a disaster but I’m told data and customers a the saviours. Any ideas anyone?