At Centrica we live by our Purpose – ‘energising a greener, fairer future’ – because we believe in energy that works for colleagues, customers and communities, today and into the future. It’s why we exist. Our strategy is driven by our Purpose, and our enduring values underpin how we operate.

Centrica in numbers


Employees worldwide




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Top 50

Ranked in The Times Top 50 Employees for Gender Equality


Route to market for renewables under our management

Our strategy is driven by our Purpose of energising a greener, fairer future for colleagues, customers and communities.

Our Strategy

Since 2020, Centrica has been on a journey to simplify and
de-risk our business, strengthening our balance sheet and delivering material performance improvements along the way. In our Interim Results announcement in July 2023, we laid out our disciplined capital allocation framework, which comprises five key elements:

Our Strategic Framework

Strategic framework

Market Changes

Evolving market conditions

After a tumultuous year in UK energy markets, 2023 saw market volatility return to pre-energy crisis levels, although energy prices remained relatively high. Consumer energy bills were somewhat shielded through the Energy Price Guarantee during the first half of 2023. Macroeconomic conditions, including elevated inflation and interest rates, negatively affected asset returns and capital costs.

How we’re responding

  • Our vertically integrated model has allowed us to capture value across our business, demonstrating the benefits of having a balanced and diversified portfolio
  • The progress we have made in strengthening our balance sheet will allow us to continue to invest in a diversified asset portfolio despite the challenging investment environment
  • Our strategy is designed to remain robust under all market conditions, and positions us for growth and value creation

Macro Trends

The drive to net zero

Climate change and the imperative to decarbonise remain central concerns for our customers and key stakeholders across society. The last several years have brought the impacts of climate change to our doorstep, as we’ve experienced hotter summers, extended droughts, unprecedented flooding and extreme weather with increasing frequency. As a UK and Ireland energy industry leader and a responsible business, our strategy remains focused on the drive to net zero.

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Macro Trends

Enabling system flexibility

Unlocking the full benefit of renewables will require more fast-acting generation and storage, flexible energy consumption, and intelligent systems working in the background to seamlessly manage the two. Centrica already plays a key role in this area by optimising energy flows to and from grid-side assets, as well as within the home. Through further investment and continued customer engagement, we will continue unlocking opportunities for flexible energy generation and use to reduce cost and carbon.

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Macro Trends

Opportunities to deliver value with AI

Customers rightfully expect a lot from their home energy and services providers, which drives competition in the market and requires us to constantly innovate and improve. With recent advances in artificial intelligence and machine learning, we see an opportunity to further leverage the power of technology and data to create a step change in our service delivery and customer value proposition.

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The drive to net zero

How we're responding

  • We committed to an ambitious investment programme that aims for >50% of total capex invested in green taxonomy investments through 2028, thereby underpinning our transition to net zero
  • We created a new business intended to be a one-stop green home services shop for residential customers
  • We are working with partners to explore decarbonisation opportunities for our existing conventional power generation and molecule storage assets

Enabling system flexibility

How we're responding

  • We create additional value for renewable asset operators and investors through our advanced trading and optimisation business
  • We help customers to reduce the cost and carbon footprint of their biggest household energy devices, like electric cars and home batteries, through British Gas and Hive’s myriad of smart energy propositions
  • We are investing in batteries and gas peakers to meet the near-term flexibility needs of the grid, and looking into other forms of energy storage that will meet the needs of the future energy system.

Opportunities to deliver value with AI

How we're responding

  • We appointed a Chief Data Analytics Officer, who will work across the business to identify and execute on opportunities that harness the power of data to personalise our propositions and service delivery
  • We are closely collaborating with leading technology companies to implement AI tools and systems across our business, helping our colleagues to do more and better for our customers
  • We are in the midst of a digital transformation that will fundamentally change the way we work in the digital environment, providing material cost savings to the business and unlocking new capabilities needed for future propositions

Pathway to Parenthood

In June 2023 we launched our biggest support package yet to help our colleagues who are struggling with fertility.

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Pathway to Parenthood

Our ‘Pathway to Parenthood’ package, which is available to all our UK employees as part of their healthcare plan, offers comprehensive financial support towards fertility treatment. This can be used for IUI, IVF, and egg or sperm donation and storage. It can also be used to cover costs for adoption or surrogacy. Additionally, we offer colleagues five days paid leave for their fertility treatment, adoption, or surrogacy appointments per year. We are already seeing the positive impact that the package is making, helping our employees feel supported whilst they go through huge changes in their personal lives.

Annual Report 2023

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

Our Businesses
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