We would love to hear your thoughts about our site and services, please take our survey here.
Incredible hypocrisy and denial, O’Shea writes if he was writing the business plan it would not be as the company is now. Well thank goodness for that but I’m pretty sure he was part of Conn’s team that made the decisions that left the company as it is. ‘We are not an Orsted he mentions..... NO your not but you could have been better placed with heavily subsidised wind farms, flexible CCGT’s closed far too early or sold for ridiculously low sums. CCGT’s are now making millions covering shortfalls in the system!!!! A perfect example of the ‘Peter principle’ The Rough storage field could be a life saver but it’s not the only one in the mix. Centrica have tried fir subsidies on this field before and no surprise they got sweet nothing. This company could thrive but the board needs to be replaced.
I agree and it’s unfortunate because with the correct leadership this share is worth closer to £2. If you compare the customer base and price paid by OVO for SSE customers, take or pay LNG gas contacts and potential Hydrogen manufacture and storage at the Rough Field and the list goes on. I think 0’Shea wants to sell and so do the board and they can get out with bonuses based on the current share price and get rid of the most unfairly over regulated and scrutinised leper of a company. It’s a shame because in a couple to 3 years there would be a lot of value here.
I believe Centrica could be worth far far more, they have the benefit of a large market share and so much data. They could lead in H2 manufacture and storage. They have a leader now who will just cut and cut but you have to leave a core of staff who are onboard, that staff has to be the face of the company who will go the extra mile for stakeholders. The government started the decline of this company and the directors inability to respond could not prevent it because they kept their hands in the Cooke jar. Once O’Shea completes his cuts get rid of him and get a good Chief Executive, that and the good fortune of having some assets critical to the green revolution and large customer base could mean Centrica could soar. Just my opinion
To borrow a quote:
If you look after your staff they look after your customers. It’s that simple!!!!
A good idea when you are a customer facing company don’t you think unfortunately it’s Centrica management that are simple with management tactics from the 1950’s
Haha learn to accept change!!! I have been a change manager in Utilities fir many years and I have done due diligence on Centrica assets and it’s comical and embarrassing, when their philosophy is sell at all costs it’s easy.
Centrica management need to change the whole lot of them. The price sensitivity you speak of is not a factor when the service is rubbish which it is from the call centres and IT and over promoted so called leaders . Centrica is customer facing and the technical staff are very good. If you think I’m stuck in the past that’s fine the companies I worked for are booming and so could Centrica but once the assets are sold and the staff are no longer incentivised what then? Oh and Pimlico Plumbers, HomeServe and Worcester will hire most of the engineers I Suspect. Look back at what is successful it doesn’t change much. Have you ever wondered why no other companies ever fire and rehire? No thought not!!!!!!
Haha, I’m not a union member and the revenue controls how many shares an employee can buy. I would say that the trade Union movement thankfully have ordinary people a chance to have a fair standard of living. Go and ask O’Shea how much he pays for his life coach ffs. Another example of the Peter Principle.
Dear oh dear keyboard warriors. If they do go to other companies then so will the customers you half wit. O’Shea was one of Conn’s boys and he is paid millions and will happily sell the company for a £1.
Look at their record sold power stations for a loss to EPH who are now making millions from them, sold wind farms for a loss when the subsidy had grandfather rights. Bought crap IT systems, stuck with Nuclear assets when they could have been sold 5 years ago and what a great strategy sell Spirit may dog could figure that out. I hope you are losing thousands because you sound like a pair of particularly nasty individuals.
As a shareholder I am disappointed about how gullible, spiteful and jealous a lot of people are on here especially employees in non technical jobs within the company. Centrica reputation for good service to households is in my opinion second to none. I used to be in a senior engineering role on a large Power Station and know when I’m being blagged. I have had a service contract with BG for as long as I can remember and they have been exemplary, polite and nothing was too much trouble, I have policies on my elderly parents and disabled sisters homes too.
The only issues I have is when they send half trained, half witted contractors when their own staff are too busy, I know insist on no contractors visiting my properties and BG agreed immediately.
The Engineers/ Techs what ever you want to call them aren’t the problem, it’s the dim witted board formerly upheld by Ian ‘coco Conn who made disastrous decisions and only ever hire people who told him what he wanted to hear and got paid Millons.
These are technical customer facing roles that need staff who can not only repair lot but also ensure homeowners are satisfied and in my case they certainly do.
Reward the technical staff properly or lose them then when you have a problem call a contractor who will rip you off, probably won’t understand the issue or rubs his chin and puts the price up £200.
Centrica have realised through all the naive staff from IT and customer service etc that if they demonise all the Engineers and blame them for managements incompetence then they will get this cost saving through, then once the dust has settled the same IT and customer service people who took the additional benefits will then be regarded as over paid by some imaginary compare ratio and they will be redundant because anyone can do that.
Divide and conquer at its most obvious and envy and spite.
Look at SSE, RWE, EDF, etc all well paid and the staff have mutual respect and better performance. Centrica are wanting to be taken over O’Shea wants a quick job if you are a long term holder he most certainly isn’t the answer to get your money back
The Telegraph today suggests Centrica to store Hydrogen in the depleted Rough storage field. If that is successful then that is the golden ticket. They have the infrastructure to the beach then all Transco costs. There will be subsidies and links in with Humberside carbon capture project. In my opinion a game changer
When you compare OVO buying SSE 3.4 million customers for £500 million in what was a fire sale, what is the value ofCentrica’s 6.9 million customers plus Spirit and all the other business interests? Stuffed if I know surely this company is massively under valued?
If you think about it OVO paid SSS
£500 million for 3.2 million customers and Centrica has about 25 million plus all of the maintenance contracts and Hive. Then you have the industrial contracts and green investments then once the sales and cost cutting are complete the market should regain confidence in this share. Add a return to dividend payments and they tell me data is the new gold!!! Who knows this could be a steal at this price.
Surely under redundancy law they would default to a standard package and anyone in some of the pensions schemes would have immediate pension depending on age . Centrica are a terrible company I remember people like Simon Merryweather turning up at a meeting I was attending with his life coach and entourage trying to tell experienced engineers how to run a major outage. That was when the share price was £3.80 so his advice was invaluable!!!!! He will be destroying another company somewhere now. I believe the current management team has a remit to get the company ready for a takeover, cut and sell everything start paying a dividend and sell to a company who want an immediate customer base. I saw this strategy of cut and streamline before when National Power was split to maximise the share price and attract buyers. International Power and Innogy were both taken over with a very healthy uplift. Watch this space.
Surely this is in the early days of a turn around. Debt reduction, 50 million of cost cutting, dividend costs saving, healthy asset sales, smaller suppliers going out of business because they have to pay their green taxes. Once the industrial relations issues are resolved and a hint of a dividend then in my opinion this share will slowly increase to well in excess of £1 per share then onwards and upwards hopefully