UK gas supplier, Centrica has posted a drop in first-half adjusted operating profit, due to mild weather, falling wholesale energy prices and weaker returns from gas storage.
British utilities have been facing increasing challenges in recent months with mild weather hitting energy demand, low wind speeds impacting renewable output, and subdued wholesale prices squeezing margins.
"There is still much more to do across the group, including improving our commercial performance in services & solutions," CEO Chris O'Shea said in a statement, as the division's customer base fell 2% in the first half of the year.
Centrica, which disclosed it had taken a 15% stake in the Sizewell C nuclear plant this week, reported an adjusted operating profit of £549 mill for the first six months of this year, down from the £1.04 bill reported for 1H24..
