The UK energy group Centrica has released its 2022 results, posting a £240m (€270) loss, after a £954m (€1.1bn) profit in 2021. However, excluding exceptional items and certain remeasurements, the company tripled its operating profit, from £948m (€1.1bn) in 2021 to £3,308m (€3.7bn) in 2022, owing to higher energy prices.
Centrica Business Solutions supplied 22.3 TWh of gas and electricity in 2022 (stable compared to 2021). The group owns British Gas Energy (7.5 m residential customers and 0.5 m small business customer sites, +4% and +5%, respectively, in 2022), British Gas Services & Solutions (3.1 m customers, -8%) in the United Kingdom and Bord Gáis Energy (0.5 m customers, +3%) in Ireland.
The group's nuclear power generation rose by 5% to 8.7 TWh despite the end of generation at Hunterston B in January 2022 and Hinkley Point B in August 2022, reflecting improved plant reliability. Centrica's renewable capacity under management declined by 1% to 11.6 GW.
Centrica completed the sale of Spirit Energy’s Norwegian upstream business and its interests in the Statfjord field to Sval Energi and Equinor respectively completed in May 2022. Spirit Energy is an oil exploration & production company 69% owned by Centrica. Consequently, Centrica’s upstream production volumes declined by a third in 2022 to 27 mboe.