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Centrica, the owner of British Gas, issued a "strong 2023 financial result" today, as the company's retail division saw a sharp jump in profits for the year.
British Gas scored just over 50 per cent on overall customer satisfaction
Centrica begins trading this week having suffered a sharp fall in its share price, with analysts calling on investors to cash in profits.
Four years of heavy losses and instability in the energy industry were upended last week when British Gas posted record profits.
London’s FTSE 100 bumped higher today after a manic morning of company earnings gave a lift to market sentiment. The capital’s premier index added 0.21 per cent to reach 7,692.77 points, while the domestically-focused mid-cap FTSE 250, which is more aligned with the health of the UK economy, climbed 0.45 per cent to 19,273.37 points. [...]
British Gas has posted record profits, fuelled by Ofgem's lucrative allowances in the energy price cap, totalling nearly a billion pounds.
British Gas owner Centrica has signed a new £6.2bn ($8bn) mega deal with Delta Midstream for 1m tonnes per annum of LNG for 15 years.
Centrica has expanded Rough but has called for changes in the investment regime for it to bring the site back to full capacity again.
British Gas has announced it will stop using contractors to fit prepayment meters under court warrant - but will still use them.
Centrica would have seen its legal challenge over Octopus' deal refused even without the "undue delays," court documents show.
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