In a short trading update, Centrica revealed that its full-year Retail cash profits (EBITDA) are now expected to land at the lower end of its £500-800mn guidance range. This reflects warmer weather and challenges with bad debt collections.
In Optimisation, the group’s energy trading arm, cash profit guidance has been maintained at around £250mn.
Infrastructure cash profit guidance has been moved to the top end of its £500-600mn guidance range.
Centrica also announced the £370mn cash acquisition of the Severn gas-fired power station from the Calon Energy Group. This adds 850MW of capacity to Centrica’s portfolio, and the plant is expected to generate cash profits of between £30-60mn from 2027.
The shares fell 4.7% in early trading.
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Centrica key facts
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