Iain Conn - Centrica

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Last quote by Iain Conn

It's a bit frustrating to end up always being blamed for it.feedback
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Aug 01 2017
Iain Conn has been quoted 24 times. The one recent article where Iain Conn has been quoted is British Gas hikes electricity prices by 12.5%. Most recently, Iain Conn was quoted as having said, “Centrica delivered a solid first half financial performance despite reduced energy demand due to warm weather and strong competitive pressures, and we remain on track to achieve the 2017 targets we set out in February.”.
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Iain Conn quotes

May 08 2017

We haven't actually seen the policy yet and so we need to keep a cool head. What I've been trying to do is simply point out that there are many examples of unintended consequences. In New Zealand, a price cap resulted in price bunching up around the cap and a loss of competition. A price cap in Spain actually resulted in a €24 billion deficit as a result of the artificial suppression of bills when the cost of transforming the energy system still needed to be paid for. That then fell to the government to pay for all of that.feedback

May 08 2017

Now I'm not suggesting that something like that will happen in the UK but I want to try to avoid some of the unintended consequences happening.feedback

May 08 2017

It's wrong to suggest supply companies have caused bills to rise.feedback

Apr 25 2017

I'm the first to admit that the UK market is not perfect. I just don't think that capping prices is the right way to help the market and it probably will have unintended consequences. I think there are some at the heart of government who just don't believe in free markets and I find that concerning at a time when this market is highly competitive and the UK is seeking to forge a new future relying upon free trade with the rest of the world.feedback

Apr 22 2017

Our average bill has increased by about 3pc a year since 2007 and all of this has come from distribution costs and policy costs. Our profits have been flat to falling. The facts do not support that the market is broken and the increases to bills are the result of supplier behaviour.feedback

Apr 22 2017 - Brexit

Re-regulating free markets will be watched closely in other sectors at a time we are preparing for Brexit. Price regulation will result in reduced competition and choice, stifle innovation and potentially impact customer service. This will negatively impact consumers.feedback

Mar 17 2017

A cap would almost certainly remove choice from the market. I would worry that if there is price regulation, more companies would find it difficult to manage and would probably go out of business or more companies would say: This market is no longer attractive, therefore, I don't want to be in it.feedback

Mar 17 2017

This market is littered with interventions that have gone wrong.feedback

Feb 08 2017

This reorganisation enables a more coherent strategy built around the end-customer and gives us the ability to ensure capability is developed globally and efficiently in support of that strategy.feedback

Dec 15 2016

Our performance in the second half of the year has been strong and we expect to exceed our 2016 targets.feedback

Apr 21 2016

This acquisition will allow us to accelerate our energy marketing and trading growth strategy and serve renewable and distributed energy customers at a wholesale level across Europe.feedback

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