The comments came as Centrica revealed earnings in its British Gas supply arm for households and businesses more than halved last year, to £297 million down from £751 million in 2023, as profits continued to pull back following record highs seen during the energy crisis.
The boss of British Gas owner Centrica has said he is hopeful of striking a deal to invest in the new nuclear power plant Sizewell C, but stressed any commitment would have to “give us the returns we need”.
Mr O’Shea said the group was also in “constructive conversation” with the Government to pave the way for Centrica to invest £2 billion in its Rough gas storage site to boost capacity.
British Gas was last month revealed to have been overtaken by rival Octopus Energy as the UK’s largest household energy supplier, in a report by energy consultancy Cornwall Insight.
Centrica also revealed British Gas shed 70,000 household customers in the year, with its total residential customer base falling to 7.46 million in 2024 from 7.53 million in 2023.
