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Centrica Plc SWOT & PESTLE Analysis

ID : 52656553| Sep 2020| 10 pages

COMPANY PROFILE -Centrica Plc

Business Sector :Utilities

Operating Geography :United Kingdom, Europe, Global

About Centrica Plc :

Established in 1997, Centrica is one of the leading providers of energy services and solutions, headquartered in Windsor, United Kingdom. The company strives to keep the carbon emissions at its minimum, and simultaneously, supply energy effectively to its customers. Previously involved in oil and gas production, Centrica exited this business vertical in 2019 and shifted its focus completely towards its customers. Centrica has two divisions, namely Centrica consumer and Centrica business. Both the divisions follow customer centric strategy and are involved in the optimized supply of energy and providing energy solutions. Centrica has positioned itself as a low-cost provider, trying to gain advantage over its competitors through cost leadership. Along with having a low cost, it also strives to provide a paradoxical combination of high-quality services to its customers. Centrica has approx. 27,000 employees as of January 2020.

Centrica’s purpose states “We are an energy services and solutions company, focused on satisfying the changing needs of our customers, enabling the transition to a lower carbon future.” Centrica’s USP or unique selling proposition, lies in being the largest supplier of gas to domestic customers in the United Kingdom, and one of the largest suppliers of electricity, popularly known with its trade name as Scottish Gas in Scotland and British Gas in England and Wales.

Centrica Plc Revenue :


£22.7 billion– FY ending 31st Dec 2019 (y-o-y growth = (-) 3%)
£23.3 billion– FY ending 31st Dec 2018

Competitive Analysis of Centrica Plc

SWOT
PESTLE
The SWOT analysis for Centrica Plc is presented below:
Strengths
Weaknesses
1. Strong trusted brand in homes and businesses across UK and North America
2. Cost leadership achieved because of operational efficiencies
3. A separate framework in place to identify and mitigate potential risks
1. Weak corporate governance in place
2. Lack of proper customer acquisition and retention programmes
Opportunities
Threats
1. Unlocking opportunities in domestic ancillary utility services for future growth
2. Leveraging opportunities in energy business solutions and marketing solutions Further investments in innovative technological
3. Further investments in innovative technological Investments in nuclear power generation
4. Investments in nuclear power generation
5. Adoption of environment friendly technology in the public energy sector
1. Steep fall in natural gas prices
2. Uncertainties arising due to Brexit
3. Regulations in utility tariffs
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Centrica Plc

Strength

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Weakness

1. Weak corporate governance in place: Due to the temporary tariff placed by the regulators in response to shortage in consumer consumption, along with certain other players in the industry, Centrica also faced a significant loss of 446 million pounds. But in between this loss-making state, the chief executive of the company, Iain Conn was reported to receive a pay hike of 44% in the year of 2018. This led to a protest among the trade unions against the company. Although the senior management took the decision of removing Conn from his position in the annual general meeting of 2020, the events leading to such outcomes denote a weak corporate governance in place.

2. Lack of proper customer acquisition and retention programmes: Over the years, the customer retention rate of the company has remained at a higher note throughout. This can be attributed to the lack of proper promotional or marketing activities as well as absence of lucrative offers for its customers. For instance, after the announcement of low earnings, Centrica saw a customer loss of nearly 6%, that is, a total of 823,000 customers out of which, 150,000 left because of the price rise by the company. In response, the company claimed to scrap the tariffs for new customers and suggested some reforms to the UK regulator, Ofgem, although these measures did not help the company effectively

Opportunity

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Threats

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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Centrica Plc Analysis Report

1. Centrica Annual Report 2019- https://www.centrica.com/investors/annual-report-2019/
2. Centrica shares suffer biggest one-day fall as British Gas loses 823,000 accounts: https://www.theguardian.com/business/2017/nov/23/centrica-shares-dive-after-british-gas-loses-823000-customers
3. Centrica as an Investment- https://www.centrica.com/investors/centrica-as-an-investment/
4. New Centrica Report Uncovers Potential for £5.6 Billion Saving on Public Sector Energy Spend by 2035- https://www.centrica.com/media-centre/news/2019/new-centrica-report-uncovers-potential-for-56-billion-saving-on-public-sector-energy-spend-by-2035/
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Centrica Plc SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Centrica Plc SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/centrica-plc/ [Accessed 27 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

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Centrica SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

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Centrica Plc SWOT & PESTLE Analysis
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