Big chill puts building revival under threat
Article Abstract:
Cold weather in winter 1996 to 1997 could hinder the recovery of the UK construction industry, but should help British Gas by pushing up gas prices. Cold weather halts building work and this hits suppliers of construction materials such as Hanson, Ibstock and Redland, as well contractors like Tarmac. British Gas has long-term contracts to buy gas at a higher price than long-term spot prices, but spot prices have risen in the cold spell, cutting the company's liability by around 450 million pounds sterling for every 0.01 pound rise in the long term gas price.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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The game's up, regulator tells gas investors
Article Abstract:
Ofgas, the UK gas industry regulatory body, plans a pricing regime for British Gas' pipeline operator, TransCo. The announcement led to a drop in British Gas' share price. The company's dividend is also likely to be affected. British Gas plans a demerger, and this will still be carried out, but TransCo will be less attractive. The Monopolies and Mergers Commission may be brought in to arbitrate, and Ofgas would abide by its decision.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Comment about this article or add new information about this topic:
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