Energy giant Centrica plans Oxford Street move for majority of trading staff

Energy supplier Centrica has announced plans to move the majority of its energy trading staff from its Windsor headquarters to a central London location, according to a company spokesperson.

Reuters has reported that around 150 of the 250 employees at Centrica Energy Marketing and Trading (EM&T) will relocate to an office on Oxford Street at some point in 2016, as the firm seeks to slash travelling costs.

The spokesperson said: “A move to London puts our Energy Marketing and Trading teams closer to counterparties.

“Most of these are in central London, so it makes sense to relocate the teams there.”

The move comes as Centrica takes steps to cut staff numbers in other areas of its business.

In 2015, the company revealed plans to axe around 6,000 jobs by 2020, due to pressure in its energy production business arising from weaker oil, gas and electricity prices.

Centrica trades as British Gas in England and Wales and Scottish Gas in Scotland.