Annual profits

Centrica expects higher annual profits

Image: chrisdorney/Shutterstock

Centrica predicted that its annual adjusted earnings would be “at the high end of analysts’ more recent expectations.”

The owner of British Gas said it delivered “strong operational performance” in the first four months of the year.

The energy giant added that volumes from its nuclear and gas generation assets in the UK have been “strong”.

However, there are still “uncertainties” and pressures in the market – he said: “significant uncertainties remain for the remainder of the year, including the impacts of weather conditions, commodity price movements, asset performance and the potential for bad debt to increase given the current inflationary pressures in the UK.

Centrica has also pledged to invest over £50m in creating 500 additional customer service jobs at British Gas Energy, 1,000 engineering apprenticeships and an energy support fund.

The scheme offers grants of up to £750 to help customers pay their energy bills.

Earlier this week ScottishPower CEO Keith Anderson predicted the price cap could reach £2,900 on October 1.

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