Segmentation Update

As part of Centrica’s ongoing commitment to simplification, the Group has aligned its management and reporting structures to the three pillars of Retail, Optimisation, and Infrastructure. Beginning with full year 2025 Preliminary Results, which will be reported on 19th February 2026, Centrica’s financial statements will reflect this new structure and disclose three reportable segments in the Group’s Segmental Analysis1.

Details of the substantive changes to segmentation are outlined below.

Retail 

  • Retail includes both Home and Business.
    • Home comprises all residential retail activities across the UK and Ireland, including:
      • Home Energy Supply – previously the residential supply components of British Gas Energy and Bord Gáis2.
      • Home Services – previously British Gas Services & Solutions and the residential services component of Bord Gáis2.
    • Business comprises all business energy supply and business services activities across the UK and Ireland. These activities were previously included within British Gas Energy, Bord Gáis and Centrica Business Solutions.

Optimisation

Optimisation comprises the trading activities previously reported as Centrica Energy, and the optimisation activities formerly reported as part of Bord Gáis2.

Infrastructure 

Infrastructure includes Power, Gas, and Customer Assets.

  • Power comprises all power generation assets:
    • Existing nuclear operations
    • Sizewell C
    • Other power assets – principally the Irish power stations formerly reported as part of Bord Gáis, and the flexible and renewable assets previously reported as part of Centrica Business Solutions.
  • Gas includes:
    • Spirit Energy
    • Centrica Energy Storage+ (Rough gas storage)
    • Grain LNG
  • Customer Assets represents the Meter Asset Provider (“MAP”) business, previously reported within British Gas Energy.

At our 2025 Preliminary Results, we will realign our guidance ranges to reflect these segmentation changes and move from adjusted operating profit (AOP) to adjusted earnings before interest tax depreciation and amortisation (EBITDA) as our primary guidance metric.

To aid comparability, the Group’s financial performance for the year ended 31 December 2024 on the basis of the updated reporting segments is shown below.

 

Adjusted EBITDA3
 

Previous basis

New basis

Year ended 31 December 2024 (£m)

Total

Retail

Optimisation

Infrastructure

Other
 

 

        

British Gas Services & Solutions

 114

 114

 -

 -

 

British Gas Energy

 364

 362

 -

 2

 

Bord Gáis Energy

 79

 10

 33

 36

 

Centrica Business Solutions

 109

 125

 -

(16)

  

Centrica Energy

 348

 -

 348

 -

 

Nuclear, Spirit and CES+

 1,335

 -

 -

 1,335

 

Other (Colleague profit share and MAP consolidation adjustment)

(44)

 -

 -

 -

(44)

Total

 2,305

 611

 381

 1,357

(44)

 

 

Adjusted operating profit
           
 

Previous basis

New basis

Year ended 31 December 2024 (£m)

Total

Retail

Optimisation

Infrastructure

Other
 

 

        

British Gas Services & Solutions

 67

 67

 -

 -

  

British Gas Energy

 297

 297

 -

 -

  

Bord Gáis Energy

 63

 2

 32

 29

  

Centrica Business Solutions

 73

 92

 -

(19)

  

Centrica Energy

 307

 -

 307

 -

  

Nuclear, Spirit and CES+

 789

 -

 -

 789

 

Other (Colleague profit share and MAP consolidation adjustment)

(44)

 -

 -

 -

(44)

Total

 1,552

 458

 339

 799

(44)

 

Notes

1. Prior to this change, our reporting segments were British Gas Services & Solutions, British Gas Energy, Bord Gáis Energy, Centrica Business Solutions, Centrica Energy and Upstream.

2. Previously, Bord Gáis residential energy supply, residential services, business energy supply and trading were all reported as part of Bord Gáis Energy.

3. Adjusted EBITDA including share of EBITDA from joint ventures and associates, updated for the allocation of corporate depreciation across relevant business units.