Centrica, the recently demerged supply arm of British Gas, may seek
out a PR agency to assist with its financial communications.
The company, which split off from exploration and pipeline business BG
in February, is considering recruiting an agency to supplement its
ten-strong group corporate affairs department. Centrica also intends to
hire a permanent investor relations chief to replace Jenny Younger, who
joined Glaxo Wellcome last year.
Director of corporate affairs Simon Lewis stressed that there was as yet
no active search for an agency and that it was still unclear what
responsibilities a chosen adviser would be expected to assume.
’We will at some stage appoint a financial PR agency,’ he said. ’It’s
something which a new company like ours has to think about. Financial PR
is a specialist area and having an external adviser is best
Since the demerger Centrica has been embroiled in controversy over its
decision to offer selective price cuts to domestic customers in the
south-west where competition was introduced in May. Independent gas
suppliers argue that the price reductions threaten competition and the
industry regulator Clare Spottiswoode has launched an inquiry into the
Centrica is also struggling to lessen the financial burden from its
’take-or-pay’ contracts with oil companies by which it is compelled to
buy gas at inflated prices.