British Gas owner Centrica blamed the new price cap in the UK as it swung into a major loss for the year.
A trade union has warned energy giant Centrica that it "can't cut its way out of a crisis" as it looks to slash jobs and make £250 million in efficiencies on the back of poor half-year financial results.
British Gas owner Centrica has confirmed that chief executive Iain Conn will step down next year, putting an end to a five-year tenure which has been beset by upheaval in the energy industry and a tumbling share price.
Centrica has announced plans to dispose of its interests in North Sea explorer Spirit Energy by the end of next year.
Centrica, the owner of British Gas, is set to update the market on Tuesday with its latest set of half-year results.
The loss of hundreds of jobs at a British energy firm is down to "rotten leadership", according to a UK workers union.
Scottish Gas owner Centrica suffered a sizable shareholder revolt over bosses’ pay at its annual general meeting (AGM) in London yesterday.
Institutional shareholders at energy giant Centrica are being urged to block a big pay rise for its chief executive.
The chief executive of British Gas owner Centrica pocketed a £2.4 million pay packet last year, despite the firm losing hundreds of thousands of customers as it embarked on a major jobs cull.
Centrica boss Iain Conn has called time on the Big Six energy era.