British Gas owner forecasts strong first-half profit in UK retail unit

The increase is driven by the positive impact from UK domestic default tariff cap allowances

Centrica, the parent company of British Gas, has revealed its positive projections for the first half of the year, expecting a notable surge in adjusted operating profit for its UK retail unit.

This growth is primarily fueled by the positive effects of UK domestic default tariff cap allowances, which effectively address costs incurred in previous periods by British Gas Energy, the company has said.

It added that the company’s diverse portfolio has exhibited robust performance in the initial months of the year, bolstering confidence in the anticipated full-year group adjusted earnings per share.

Centrica is positioned to approach the higher end of the estimated range, thanks to its strong showing across various sectors, including Energy Marketing and Trading.

Centrica’s infrastructure operations, encompassing gas production, nuclear assets and gas storage, have also demonstrated solid availability and volumes.

This has effectively offset the impact of lower wholesale commodity prices, contributing to the company’s overall performance.

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