Centrica Stock

Centrica plc operates as an energy services and solutions company.

Segments

The company operates through Centrica Consumer, Centrica Business, and Upstream segments.

Centrica Consumer

This segment focuses on three areas, such as energy supply, in-home servicing and home solutions. This segment had 722,000 customer accounts in 2019.

In the U.K., the company is the largest energy supplier; major provider of contract energy services; and the primary installer of boilers and smart thermostats.

In North America, the company is an energy supplier in each of its chosen geographies of Texas, the U.S. North East and Canada. The company has a significant services position in a highly fragmented market. In Ireland, the company is the largest gas supplier and the second largest energy supplier overall.

This segment engages in the supply of gas and electricity to residential customers in the U.K., North America and to residential and commercial and industrial customers in the Republic of Ireland; the installation, repair and maintenance of domestic central heating and cooling systems and related appliances in the U.K., North America and the Republic of Ireland, as well as the provision of fixed-fee maintenance/breakdown service and insurance contracts in the U.K. and North America; power generation in the Republic of Ireland; and the supply of new technologies and energy efficiency solutions in all geographies in which the company operates.

Centrica Business

This segment focuses on three areas, such as energy supply, energy optimization, and business services and solutions.

Centrica Business has built enhanced capabilities across a range of activities, including distributed energy, route-to-market services and energy optimization. The company is the largest energy supplier to small and medium enterprise (SME) customers in the U.K. and retains a significant presence in the industrial and commercial market, where the company focuses on customers who want to take business services and solutions, as well as energy supply.

In North America, the company is the second largest supplier of gas and power to business customers and has significant wholesale and optimization positions. The company has major global route-to-market and demand response optimization positions, managing around 25 gigawatts of route-to-market capacity and 2.5 gigawatts of optimization capacity across the U.K., North America, and Continental Europe.

This segment engages in the supply of gas and electricity and provision of energy-related services to business customers and trading counterparties in the U.K. and North America; the supply of energy efficiency solutions, flexible generation and new technologies to commercial and industrial customers in all geographies in which the company operates, as well as flexible merchant generation is also provided to the U.K. system operator; the generation of power from the Spalding combined cycle gas turbine tolling contract and other thermal assets in the U.K.; and the procurement, trading and optimization of energy in the U.K. and North America. This income stream is included in re-measurement and settlement of energy contracts.

Upstream

This segment consists of the company’s exploration and production (E&P) and nuclear power generation businesses.

In E&P, Spirit Energy, the company’s joint venture with Stadtwerke München, is a self-financing business. The company continues to own and operate the Rough field and the onshore Easington gas processing terminal. The company’s focus is on maximizing the value of both these assets. The company also owns a 20% interest in EDF Energy’s nuclear power generation fleet. In 2018, the company announced its intention to dispose of this stake by the end of 2020.

This segment engages in the production and processing of gas and oil and the development of new fields, principally within Spirit Energy, to maintain reserves in the U.K. and Europe; and the generation of power from nuclear assets in the U.K.

History

The company was formerly known as Yieldtop plc and changed its name to Centrica plc in 1996. The company was incorporated in 1995.