Centrica Shares Trade Lower Ahead of Ofgem Announcement
Centrica slipped in London trading on Tuesday, trailing the FTSE 100, with investors eyeing a coming UK household energy price announcement and a new British Gas tariff. Shares were off around 0.4% at 199.55 pence by 10:20 BST after starting the session at 200.70 pence. The FTSE 100 was up roughly 0.6% according to delayed market data. Ofgem is set to announce the household price cap for July through September by May 27. The cap now stands at 1,641 pounds for a typical dual-fuel direct debit customer, but it doesn’t cap the total bill. Instead, it limits what suppliers can charge per unit of gas and electricity and sets the daily standing charge, which covers the cost to stay connected.