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  • Glossary

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    Glossary

    SYM

     $

    Refers to US dollars unless specified otherwise

     <1 year

    Less than 1 year

     >1 year

    Greater than 1 year

     2P

    Proven and probable

    A

     AFS

    Available-for-sale

     Associate

    An entity in which the Group has an equity interest and over which it has the ability to exercise significant influence

    B

     BCF

    Billion cubic feet

     bbl

    Barrels of oil

    C

     CER

    Certified emissions reduction (carbon emissions certificate)

     CERT

    Carbon emissions reduction target

     CGU

    Cash generating unit

     CPI

    Consumer Price Index

    E

     EBITDA

    Earnings before interest, tax, depreciation and amortisation

     EUA

    European Union allowance (carbon emissions certificate)

    F

     FSA

    Financial Services Authority

     FTSE 100

    Financial Times Stock Exchange 100 share index, an average of share prices in the 100 largest, most actively traded companies on the London Stock Exchange

     FVLCS

    Fair value less costs to sell

    G

     g CO2/kWh

    Grammes of carbon dioxide per kilowatt hour

     GFRMC

    Group Financial Risk Management Committee

     GWh

    Gigawatt hour

    I

     IAS 19

    The International Accounting Standard related to Employee Benefits. These financial reporting rules include requirements related to pension accounting

     IAS 39

    The International Accounting Standard related to financial instruments (recognition & measurement)

     IFRS

    International Financial Reporting Standard

    J

     Jointly controlled entity

    A joint venture which involves the establishment of an entity to engage in economic activity, which the Group controls jointly with its fellow venturers

    L

     Level 1

    Fair value is determined using observable inputs that reflect unadjusted quoted market prices for identical assets and liabilities, for example exchange-traded commodity contracts valued using close-of-day settlement prices. The adjusted market price used for financial assets held by the Group is the current bid price

     Level 2

    Fair value is determined using significant inputs that may be either directly observable inputs or unobservable inputs that are corroborated by market data, for example over-the-counter energy contracts within the active period valued using broker-quotes or third-party pricing services and foreign exchange or interest rate derivatives valued using market-based data

     Level 3

    Fair value is determined using significant unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management's best estimate of fair value, for example energy contracts within the inactive period valued using in-house valuation techniques

     LNG

    Liquefied natural gas

    M

     mmboe

    Million barrels of oil equivalent

     mmth

    Million therms

     MWh

    Megawatt hour

    N

     NBV

    Net book value

     NGO

    Non-governmental organisation

    P

     PP&E

    Property, plant and equipment

     PRT

    Petroleum revenue tax

    R

     ROC

    Renewable obligation certificate

     RPI

    Retail Price Index

    S

     Securities

    Comprised of Treasury gilts designated at fair value through profit or loss on initial recognition and available-for-sale financial assets. The fair values of securities are based on quoted market prices, when available. If quoted market prices are not available, fair values are estimated using observable market data

     SCT

    Supplementary charge associated with UK Corporation Tax

     Spark spread

    The difference between the price of a unit of electricity and the cost of the gas used to generate it

    V

     VAT

    Value added tax

     VIU

    Value in use

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Sir Roger Carr Sir Roger Carr
Chairman (65)
Sam Laidlaw Sam Laidlaw
Chief Executive (56)
Dame Helen Alexander CBE Dame Helen Alexander DBE
Non-Executive Director (55)
Phil Bentley Phil Bentley
Managing Director, British Gas (53)
Margherita Della Valle Margherita Della Valle
Non-Executive Director (46)
Mary Francis CBE Mary Francis CBE
Senior Independent Director (63)
 
Mark Hanafin Mark Hanafin
Managing Director, Centrica Energy (52)
Lesley Knox Lesley Knox
Non-Executive Director (58)
Nick Luff Nick Luff
Group Finance Director (44)
Andrew Mackenzie Andrew Mackenzie
Non-Executive Director (55)
Ian Meakins Ian Meakins
Non-Executive Director (55)
Paul Rayner Paul Rayner
Non-Executive Director (57)
 
Chris Weston Chris Weston
Managing Director, North America (48)

Senior Executives

Grant Dawson Grant Dawson
General Counsel & Company Secretary (52)
Catherine May Catherine May
Group Director, Corporate Affairs (47)
Jill Shedden Jill Shedden
Group Director, Human Resources (46)
 

Committee Membership

  Audit Committee Remuneration Committee Nominations Committee Corporate Responsibility Committee Executive Committee Disclosure Committee
Sir Roger Carr    
Sam Laidlaw  
Phil Bentley    
Margherita Della Valle  
Mary Francis CBE  
Mark Hanafin    
Lesley Knox  
Nick Luff  
Andrew Mackenzie    
Ian Meakins  
Paul Rayner  
Chris Weston    
Grant Dawson  
Jill Shedden    
  • Chairman
  • Member