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I see Chevron have purchased Noble $13 billion oil and gas assets today hopefully a sign that Spirit may be a viable sale in the not to distant future. Reducing debt and all the cost cutting should start a turn around... hopefully ??

Once all the cuts are made they will possibly be ripe for a takeover! Who knows?

That is a despicable thing to do, but I did wonder about Centrica pay rates. I had a new central heating system fitted by Centrica, an excellent job with first class technicians. I used to be a shift manager with Centrica on a large power station and earned a good salary On shift with 30 years experience . The guy who measured up for my heating system earned £10000 a year more On days Plus bonus. Best of luck to him but levels of responsibility are at nearly at both ends of the spectrum. I hope everyone is ok and the price cap and dreadful management has led to this awful situation

Just when you think things are improving

https://www.thetimes.co.uk/article/this-is-not-the-time-to-switch-to-gas-b3nflzczf

https://www.thetimes.co.uk/article/british-gas-hits-back-with-low-cost-rival-of-its-own-xn5wphj2g

Get rid of all the gremlins then introduce this to the parent company

the appointment of Johnathan Ford as Group Chief Financial Officer I believe is a good one with the direction the company is heading

Well written, they certainly don’t deserve that and this is happening because of a poor Chief Executive and good old Ed Miliband raising the idea of a price cap and then Theresa May capitulating and introducing one in a market that was already favourable small providers eg green taxes. I would think throughout the energy industry this has cost 15- 20,000 jobs, reduced their pensions and T&c’s. Good old Labour

Read the article in the Times today, it appears to be very likely!

https://www.thetimes.co.uk/article/cracks-are-starting-to-show-in-nuclear-power-generators-5hhwhvpm7

Every time it starts to climb some bad news appears. Looks like Hinckley Point and Hunterston finished.

I also read somewhere that not paying the dividend would save £250 million per year and this perfect storm of dread cannot last surely> there must be good news some time soon

I see two non execs been shipped off today, both wasters so this is a positive I would say. The clear out begins and hopefully a turn around.

more likely another British Energy restructuring

Debenhams never had any assets just lots of debt and no sales. Centrica has assets, written down I agree. Isn't a more likely scenario no dividend for 3 years, eventual asset sales in a couple of years and more cost cutting

So still massively overpaid

Well what does everyone think?
Inspirational or desperate? I would guess nobody else wanted it and pay adjusted to ability.

Thanks, I hope things improve soon.

Where did you read that?

Maybe Centrica should do this to show the government how fragile they are!
Eon furloughs workers in coronavirus crisis

https://www.thetimes.co.uk/article/eon-furloughs-workers-in-coronavirus-crisis-vtmkdns8p

I agree, holding for the long term it will be a good investment.

Cutting the dividend should have been done last year. At least they are showing corporate responsibility by doing this and stopping bonuses. I don’t believe this company will go bust, it is a long haul back for them but by not paying a dividend for several years will allow growth to return