Centrica’s Chief Executive Chris O’Shea will receive a bonus payment on top of his hefty salary.

On behalf of the group’s Remuneration Committee, its Chair Carol Arrowsmith said that Chris O’Shea had opted out of his 2021 annual bonus payment due to the hardships faced by the customers.

Ms Arrowsmith added: “I made it clear in my letter that if performance in 2022 justified a bonus, it was our intention to pay that bonus because we cannot expect to attract and retain leaders in the future if we do not meet our commitment to recognise and reward the performance and talent of our people.

“It is the opinion of the Committee that the exceptional financial performance against the stretching targets that were set for 2022 does justify a bonus payment for both the Group Chief Executive (CEO) and the Group Chief Financial Officer (CFO).”

As per the company’s annual report, Mr O’Shea’s yearly salary of £790,000 will be accompanied by a bonus of £1.4 million for 2022, taking his total remuneration package for the year, including other benefits, to almost £4.5 million.