2018 Annual Report

Our purpose is to provide energy and services to satisfy the changing needs of our customers

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Chairman's Statement

After five years as Chairman of Centrica, this marks the end of my time helping to guide the destiny of this great company.

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Group Chief
Executive's Statement

2018 was another year in which we had to navigate key uncertainties in our operating environment.

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Group Highlights

Centrica Group Revenue


2017: £28.0bn


Adjusted operating profit


2017: £1,247m(1)


Adjusted basic earnings per share (EPS)


2017: 12.5p(1)


Adjusted earnings


2017: £693m


Adjusted operating cash flow


2017: £2,069m


Group net debt


2017: £2,596m


Our Approach

Our Strategy

Three macro-trends are driving the energy transition: decentralisation, power to the customer and digitisation. These trends are at the heart of our strategy as we continue to satisfy the changing needs of our customers.

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Our Business Model

Our business model is designed to deliver returns and growth through efficient operations and a focus predominantly on our customer-facing businesses. This ensures we are well placed to deliver for our customers and to meet our broader obligations to society.

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Stakeholder Engagement

Engaging with stakeholders is fundamental to our business success. By listening to and collaborating with stakeholders, we can grow our business and deliver for our customers and society over the long term.

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Digital Transformation

At Centrica, we are now in the second phase of our transition into a customer-facing, international energy and services company. This is what we set out to be when we unveiled our strategy in 2015 and we are beginning to demonstrate that transition.

"There is clear evidence that we are starting to build momentum in our customer-facing businesses by providing the type of products and services that our customers value."

Iain Conn
Group Chief Executive

Centrica Innovations

Transforming our offerings and services through technology and innovation

Investing in tomorrow’s
energy solutions for our customers

Centrica Innovations is backing an electric vehicle charging system which is already being used by 200,000 drivers around the world.

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Centrica Consumer

Here for you when you need us most


incoming calls in one 45-minute period during ‘Beast from the East’


increase in renewals at Home Warranty of America

Protecting our customers during the ‘Beast from the East’

Thousands of our customers were hit by ferocious winter weather conditions. Faced with unprecedented demand for help, our colleagues showed unwavering commitment to keep them safe and warm.

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Transforming customer experience at Home Warranty of America

Unexpected issues at home are stressful. Something has gone wrong; your family is affected, and you want to make things right as quickly as possible. With our new claims system, we’re able to get the right contractor to a customer’s home, communicate more clearly to them and get their homes back in order quickly.

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Centrica Business

A trusted energy partner for business customers

How we helped a valued customer to make the most out of saving energy

Centrica Business Solutions enabled paper maker Sappi to double its earnings from Demand Side Response (DSR).

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Forging a partnership in patient care

How we helped a major hospital to cut its energy costs and meet tough new environmental targets.

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increase in DSR payments for Sappi


reduction in CO2 at major hospital

Exploration & Production

Securing energy supplies


estimated barrels of oil


UK homes supplied with gas

Drilling for the future West of Shetland

A new offshore prospect has the potential to double Spirit Energy’s current production.

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New lease of life until 2030 and beyond

How we’re working with others to secure the future of one of the UK’s key gas processing sites.

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Our Responsible Business Ambitions

Helping to deliver our strategy and tackle challenging environmental and societal issues

Helping you run your world in ever more sustainable ways

We are introducing our 2030 Responsible Business Ambitions – a set of 15 goals that contribute to a more sustainable world. We will focus on delivering for our customers, enabling all our customers to use energy more sustainably and building the workforce of the future – all of which will help us to create stronger communities.

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Cumulative Connected Home products sold


Customer carbon savings from measures installed since 2008


Young people who developed new skills via Movement to Work