British Gas owner Centrica has revealed earnings in its household supply arm more than halved last year as profits continued to pull back following record highs seen during the energy crisis.
The group said underlying earnings in its British Gas energy supply division for households and businesses tumbled to £297 million last year, from £751 million in 2023.
Centrica also revealed it 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.
The wider Centrica business reported a 40% drop in underlying operating profits to £1.55 billion for 2024, down sharply on the £2.75 billion the previous year.
It announced further returns for its army of small shareholders, with a 13% full-year dividend increase and an extra £500 million in share buybacks, taking the total program to £2 billion, which will be completed around the end of 2025.
