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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Centrica PLC    CNA   GB00B033F229

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Centrica: Shale Gas Won't Transform UK Energy

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05/03/2012 | 05:47pm CET

The U.K.'s shale gas resources could prove to be important, but they won't totally transform the energy landscape in the U.K., said Mark Hanafin, managing director of the energy production division of U.K. utility Centrica PLC (>> Centrica PLC) Thursday.

"U.K. shale production--I think it's important and we should develop it, but I don't think it's going to be a game changer," Hanafin told reporters on the sidelines of the Petrostrategies conference in Paris.

"I don't think it changes the British government's desire, which is the right one, to have a very diversified energy mix. That means nuclear, it means gas, it means renewables," he said.

Centrica, and its partner Electricite de France SA (>> EDF), are still talking to the U.K. government about ways to support and minimize the risk of investment in a fleet of new nuclear power stations, Hanafin said.

There is a lot of work still to do before the final decision to build new plants can be taken at the end of this year, he said.

-By James Herron; james.herron@dowjones.com; +44 207 842 9317

Stocks mentioned in the article : Centrica PLC, Centrica PLC, EDF
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EBIT 2016 1 345 M
Net income 2016 812 M
Debt 2016 4 280 M
Yield 2016 5,75%
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EV / Sales 2016 0,59x
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Average target price 2,27  GBP
Spread / Average Target 6,6%
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Iain C. Conn Chief Executive Officer & Director
Richard Neil Haythornthwaite Chairman
Jeff Bell Group Chief Financial Officer & Director
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Mark Hanafin Group Executive Director & CEO-Energy Production
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