As the pace of change continues to accelerate, we are responding by focusing colleagues and technology on helping businesses and households to use energy more efficiently and sustainably. We recognise the need to help enable a more flexible energy system and are deploying a range of technologies to help build the grid of the future with both electric and hydrogen technologies.

Our Purpose | Helping you live sustainably, simply and affordably

Our Strategic Framework

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Focusing on delivery

British Gas

Energy supply for residential and small business customers in England, Scotland and Wales

British Gas Energy is transitioning onto a new digital platform to lower cost per customer and improve service

BG, Hive, Dyno, PHJones

Services and solutions for residential customers In England, Scotland, and Wales

Services & Solutions is focused on fixing delivery and helping customers with the energy transition

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Positioned for growth

Bord Gais

Energy supply services and solutions for residential and business customers in the Republic of Ireland

Bord Gáis is an established business with opportunity to explore future growth

CBS

Energy supply and low carbon solutions for businesses, building and operating a portfolio of flexible assets


 

Centrica Business Solutions is refocusing on its strengths in supply and services and increasing investment in energy transition assets


 

Centrica Energy

Trading and optimisation of energy globally, managing energy procurement and risk


 

Centrica Energy is an established business with proven capability ready to grow further


 

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Creating value from opportunity

Storing and producing gas to manage seasonal demand and energy security

Centrica Energy Storage+ has an opportunity to explore its role in the future of hydrogen

spirit energy

Oil and gas production in existing UK assets

Spirit has an opportunity to explore its role in the future of hydrogen and carbon capture

nuclear

Minority stake in the UK's portfolio of existing nuclear power stations

We have a 20% minority stake in a declining portfolio, Centrica is exploring further investment in nuclear generation

The value we create

Market Changes

Cost of living crisis

The rapidly rising cost of living poses a major near-term challenge that affects our customers, colleagues and our business.

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How we’re responding

  • Providing vulnerable customers £50 million in support 
  • Helping customers lower their consumption and save on their bills with innovative products in Hive
  • Striving to complete the transformation of our business, lowering costs for customers while continuing to provide the energy and services they need
  • We are passionate about protecting and rewarding our colleagues with fair pay deals

Macro Trends

The need to decarbonise

We continue to face into the biggest challenge our industry, Government and customers have faced – climate change. Our ultimate long-term ambition is to support the transition to net zero by developing the green economy, finding sustainable solutions for customers, and ensuring a just transition.

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Macro Trends

Enabling system flexibility

The energy system of the future will need to be flexible, creating a greener and more intelligent grid alongside increasingly connected demand in customers’ homes and businesses is our ultimate vision. We continue to develop our market leading solutions to enable this future.

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Macro Trends

The need to support consumer change

Consumers continue to be at the core of our priorities with our focus being providing the best service and cost competitiveness throughout the transition, while providing the confidence and tools to enable the roll-out of the technology of the future.

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The need to decarbonise

How we're responding

  • Investing in green and flexible generation and storage through a range of participation models
  • Developing potential options for scale investment in low carbon infrastructure supporting the system today and in the future
  • Helping customers on their decarbonisation journeys, installing heat pumps and electric vehicle chargers while exploring the future of hydrogen
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Enabling system flexibility

How we're responding

  • We are optimising the buying and selling of renewable power through our trading business 
  • Our leading connectivity and optimised trading technology is being embedded in our customer solutions and systems 
  • Through Hive we are bringing customers along the journey and building solutions that allow them to be active participants in helping manage the UK’s energy system, accessing rewards, saving costs and decarbonising
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The need to support consumer change

How we're responding

  • Through digitalising our energy and services businesses with new, flexible platforms we will be able to ensure our customers have access to quality service at an affordable price 
  • We are committed to enabling the transition to net zero and will continue to provide the best energy and heating solutions to our customers, tailored to their homes and businesses 
  • We advocate for the policy changes needed to reach net zero and drive the market on our customers’ behalf
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Centrica Stories

Helping people with their energy bills in the UK

Customers (1)

Helping people with their energy bills in the UK

In 2022, the energy market faced unprecedented challenges as the war in Ukraine constricted already tight global energy supplies, causing energy costs to soar. With the duration of the energy crisis unknown, rising energy bills have been a real worry for many. We’ve therefore worked with stakeholders to understand what we can do to help, enabling the Directors to take swift action.

To ensure customers can get in touch more easily, we invested £25 million in customer service with the recruitment of 700 additional UK-based agents, who have guided customers through the crisis with expert advice and support.

And on top of the millions of pounds we already provide in energy bill support, the Directors recognised that more needed to be done. So, we committed £50 million to help people with their energy bills, including through our promise to donate 10% of British Gas Energy’s profit for the duration of the crisis. This enabled us to establish the UK’s largest voluntary customer support package. Of this, £25 million was given to the British Gas Energy Trust to create a dedicated cash support fund for customers and help communities. To reach those who needed it most, we collaborated closely with the Trust by running a marketing campaign urging people not to suffer in silence, volunteered at over 100 Post Office Pop-Ups at over 50 locations to share advice at the heart of communities, and collaborated with charities like StepChange, to help more people access support. The remaining £25 million is administered by British Gas and largely supports prepayment customers and businesses with grants.

At the same time, the Directors alongside specialists in Corporate Affairs and Regulatory Affairs, worked at pace with the UK Government and Ofgem. Parliamentarians were engaged to ensure they were up-to-date with the support available via information leaflets, meetings and drop-in sessions. Together, we also worked on short and longer-term improvements to achieve a more robust and sustainable market for consumers. We suspended all prepayment warrant activity until at least the end of Winter. And we increased volumes of renewable energy, reopened our Rough gas storage site, and worked with Norwegian partners to secure gas supplies sufficient to heat 4.5 million homes, which increases greenhouse gas emissions in the short-term but was vital to boost energy security and reduce costs for consumers. Meanwhile, we continued to manage price volatility through agile hedging policies and effective demand forecasting.

As we balance different stakeholder needs and the transition to net zero, we’re doing whatever we can to help people today and avoid another energy crisis in the future.

Customers (1)

Annual Report 2022

We put colleagues and customers at the heart of everything we do.

Our Businesses
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