Jun 21, 2017

Centrica sells last big UK power stations

Centrica has sold its last big central power stations in the UK for £318m as the company behind British Gas concentrates on customer-facing services and smaller, flexible energy plants that generate electricity during periods of high demand. The sale of the Langage power station in Devon and the South Humber Bank gas plant in north-east Lincolnshire to Czech group EPH is part of Centrica's strategy to reduce its exposure to large central power assets. Since 2015, Centrica has been selling big central power assets and reducing its exposure to oil and gas exploration and production to focus on services for homeowners and businesses, including energy supply. Centrica has already sold all of its wind power generation assets and the company said earlier this week that it would close Britain's largest natural gas storage site. Centrica has continued to pursue smaller power plants that can be fired up quickly to generate electricity at times of peak demand or when renewable sources are less reliable due to weather patterns.

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