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Highlights
- Amid the spiralling cost of living crisis, the UK’s energy crisis has also been escalating.
- From October last year to October 2022, the domestic prices of gas and electricity have surged by 129% and 66%, respectively, as per the UK Government’s data.
- Several London councils have opened up public places to keep citizens comfortable and have made heat hubs.
Amid the spiralling cost of living crisis, the UK’s energy crisis has also been escalating. While inflationary pressures are at record highs, temperatures are falling, and energy prices are rising. Millions of people have been pushed towards fuel poverty this winter. Moreover, households have to make a choice among heating and eating.
From October last year to October 2022, the domestic prices of gas and electricity have surged by 129% and 66%, respectively, as per the UK Government’s data. This can be translated into a 96% hike in the yearly energy bill on average, nearly amounting to £2,500.
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Several London councils have opened up public places with the aim of keeping citizens comfortable and warm and have made heat hubs, commonly known as warm banks or warm spaces. Public buildings and community centers are used as heat hubs to keep citizens warm and cozy during the rough winter. These include temples, libraries, churches, galleries etc.
Even though government schemes are intended to support households in tackling high energy bills, there would still be cases where people struggle to pay. In such cases, the energy suppliers must be contacted as they have an obligation to assist the customers undergoing financial troubles.
Taking all this into account, Kalkine Media® explores the performance of 3 energy utility stocks trading on the London Stock Exchange.
Centrica plc (LON: CNA)
The yearly and YTD (year to date) returns offered by Centrica, which is a global provider of electricity services and solutions, stood at 41.32% and 36.34%, respectively, at around 12:50 PM (GMT). At the time of writing, CNA shares were trading at GBX 97.48, up by 0.79%, or 0.76 points. Meanwhile, the market capitalisation of the firm stood at £5,673.53 million. The FTSE100 company had an EPS (earning per share) of 0.21 and a turnover of £2,038,175.63.
SSE plc (LON: SSE)
The yearly and YTD returns offered by SSE plc, which is a prominent energy giant supplying electricity across the UK and Ireland, stood at 5.66% and 5.93%, respectively, at around 12:50 PM (GMT). At the time of writing, SSE shares were trading at GBX 1,727.00, up by 1.17%, or 20.00 points. Meanwhile, the market capitalisation of the firm stood at £18,447.93 million. The FTSE100 company had an EPS of 2.87 and a turnover of £4,289,187.94.
National Grid plc (LON: NG.)
The yearly and YTD returns offered by National Grid, which is an energy utility business focused on electricity and gas distribution, stood at -6.98% and -5.03%, respectively, at around 12:50 PM (GMT). At the time of writing, NG. shares were trading at GBX 1,006.50, up by 1.71%, or 16.90 points. Meanwhile, the market capitalisation of the firm stood at £36,222.34 million. The FTSE100 company had an EPS of 0.65 and a turnover of £10,428,355.14.
