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Centrica’s power and gas sales dipped by 7% in 2023 (UK)

The UK energy group Centrica has released its 2023 results, posting a GBP2.75bn (€3.2bn) adjusted operating profit, a 17% decrease compared to its 2022 profit of GBP3.3bn (€3.86bn). This is notably due to lower seasonal demand in the second half of 2023. However, the company’s statutory operating profit reached GBP6.5bn (€7.6bn), compared to a loss of GBP240m (€280m) in 2022.

Centrica Business Solutions supplied 20.7 TWh of gas and electricity in 2023, a 7% decrease compared to 2022, as the group is shifting away from supplying energy to the lower margin large-scale Commercial and Industrial sector. The group's nuclear power generation fell by 14% to 7.5 TWh, due to the Hinkley Point B and Hunterston B closures in 2022. Centrica's renewable capacity under management increased by 3% to 13 GW.

Centrica owns British Gas Energy (7.5 m residential customers and 0.5 m small business customer sites, stable and +15%, respectively, in 2023), British Gas Services & Solutions (2.9 m customers, -8%) in the United Kingdom and Bord Gáis Energy (0.5 m customers, -4%) in Ireland.