We are unique amongst energy companies in the UK and Ireland, operating across the energy value chain through our distinct, but complementary businesses.
Our Purpose is to energise a greener, fairer future as we look to deliver net zero for our customers and Centrica.
British Gas Energy
British Gas has been supplying energy to British homes and small businesses for over 200 years.
Highlights
Adjusted operating profit
£751m
2022: £72
£679m
Residential customers
7.529m
2022: 7.516m
0%
In British Gas Energy, we continue to invest in strengthening our operational foundations to drive innovation, retention and better customer outcomes in order to underpin long-term profit sustainability. The number of residential customers remained broadly flat over the year, as price competition remained low in the market and suppliers competed more on service and brand. The number of small business customer sites increased by 15% in the year. We saw lower complaints and a higher NPS, reflecting our conscious decision to invest in customer service.
British Gas Services & Solutions
Our team of around 7,000 engineers provides services and solutions to residential customers in England, Scotland and Wales.
Highlights
Adjusted operating profit
£47m
2022: -£9m
£56m
NPS for engineers
71
2022: 64
7 pt
In British Gas Services & Solutions we have significantly improved our operations, as we look to stabilise our core activity of contract service and repair, whilst driving growth in on-demand and heating installs. Operational metrics continued to improve over the year, including a halving of job reschedule rates to 3%. This improved operational performance underpinned improved customer satisfaction, which was reflected in lower complaints and higher engineer NPS. Our improved operational performance and increased engineer capacity means we can now better target the significant opportunity that exists in the on-demand and heating installation markets.
Bord Gáis Energy
Bord Gáis Energy is one of Ireland’s leading energy and service companies, supplying gas, electricity and energy services.
Highlights
Adjusted operating profit
£1m
2022: £31m
-£30m
Customers
503,000
2022: 526,000
-4%
In Bord Gáis Energy we are focused on creating value from our integrated energy model, while investing in the future energy system to help underpin energy security and decarbonisation in Ireland. We continued to invest in customer service, resulting in lower complaints per customer compared with 2022 and and a 5pt improvement in NPS over the second half of the year, following a reduction in the first half. In line with our commitment to support our customers, we donated an incremental £3m to our energy support fund to help vulnerable customers struggling with bills, doubling the total to £6m over the past two years.
Centrica Business Solutions
Centrica Business Solutions partners with organisations to supply energy and deliver integrated energy solutions that accelerate their journey to a low-carbon future, balancing commercial success and environmental responsibility.
Highlights
Adjusted operating profit
£104m
2022: £44m
£60m
Net Investment
£114m
2022: £19m
500%
In Centrica Business Solutions we continue to focus on strengthening our customer service foundations and delivering improved margins and sales performance in energy supply while also building a portfolio of flexible, green-focused assets. Having announced our new green-focused investment strategy in July 2023, we made incremental early stage progress in developing our asset pipeline over the second half of 2023. CBS net investment was £114m (2022: £19m) as we made progress on a range of solar, battery and gas-peaking investments.
Centrica Energy
Centrica Energy is our global energy trading and logistics business that helps move
energy from source to use, managing energy procurement & risk.
Highlights
Adjusted operating profit
£0.8bn
2022: £1.4bn
-£0.6bn
Renewable capacity under management
13GW
2022: 12.6GW
3%
Centrica Energy had another strong year in 2023, against the backdrop of much lower market volatility than experienced in 2022. We continue to build out our portfolio of physical contractual positions, delivering a 3% increase in renewable assets under management in Renewable Energy Trading and Optimisation (RETO) to 13.0GW. Total renewable and flexible assets increased to 16.3GW (2022: 15.8GW). We also added to our global LNG portfolio. In July 2023 we signed a 15-year Sale and Purchase agreement with Delfin to take 1 million tonnes of LNG, free on board, from their floating facility in the Gulf of Mexico. Volumes are expected to commence towards the end of this decade.
Upstream
Our Infrastructure businesses consisting of our ownership in the Spirit
Energy gas production business, our 20% interest in the UK’s Nuclear fleet, and Centrica
Energy Storage+, the operator of Rough, the UK's largest gas storage
facility.
Highlights
Adjusted operating profit
£1.1bn
2022: £1.8bn
-£0.7bn
Nuclear power generated
7,456GWh
2022: 8,719GWh
-14%
Our Infrastructure businesses continue to play an important role for UK energy security. In May 2023, Spirit Energy was was awarded a carbon storage licence for Morecambe Bay. Its potential to be one of the UK’s largest carbon storage hubs provides us with long-term net zero optionality. An increase in capacity at Rough to 54bcf was announced in June 2023. We continue to develop plans to enable us to increase capacity at the asset, and ultimately convert to a hydrogen storage facility, with any material investment subject to an appropriate regulatory support mechanism.
Our Stories
Uniquely Integrated
The real value-add that makes Centrica unique is how our businesses integrate with each other. We Make energy, we Store it, we Move it, we Sell it and we Mend it. It means we are incredibly well-positioned to adapt to any future changes in the energy landscape and to drive the transition to Net Zero fairly and affordably.
More than a career
Our employee-led networks help challenge us to think differently, act differently and open opportunities for learning across our business. Friendly and inclusive, our colleague networks are there to support anyone. Everyone's welcome.