Bord Gáis owner Centrica shares rise amid relief over UK windfall tax   

Shares rose as much as 4.9% to a three-year high on Friday, putting the shares on track for their best week since June 2020, with a gain of 17%

Analysts were relieved the windfall tax levy announced by chancellor of the exchequer Jeremy Hunt will be based only on revenue above £75 per megawatt-hour, a higher threshold than many had expected.

All UK utility stocks benefited from a higher-than-expected windfall tax threshold in the British budget statement, but Centrica, in particular, stood out.

The British Gas and Bord Gáis owner —which is also Citigroup’s favourite share in the industry — rose as much as 4.9% to a three-year high on Friday, putting the shares on track for their best week since June 2020, with a gain of 17%.