23 Facts About Centrica

Centrica plc is a British multinational energy and services company with its headquarters in Windsor, Berkshire.

Centrica is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

Centrica became a separate, distinct corporation on 17 February 1997, when British Gas plc split to form three separate companies: Centrica plc, BG plc and Transco plc.

Centrica took over gas sales and gas trading, services and retail businesses, together with the gas production operations in the North and South Morecambe gas fields.

Centrica maintained the British Gas retail brand but is only allowed to use this brand name in the United Kingdom.

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However, in October 2004 Centrica paid £57 million for Dyno-Rod, the emergency drainage franchiser, who had previously been contracted to carry out work for Centrica's customers who had bought drain and plumbing insurance.

From 2005, Centrica declared a strategy of consolidating within the energy sector, upstream and downstream, including expanding operations overseas.

On 17 November 2010, Centrica acquired the assets of heat pump installation company Cool Planet Technologies Ltd.

Centrica's Germany based trading division Centrica Energie GmbH was closed in April 2012.

In July 2013, it was announced that Centrica would acquire the energy marketing unit of Hess Corporation for $1.

In March 2014, Centrica acquired the retail arm and other assets belonging to Ireland's state owned Bord Gais for a fee of around €1.

In 2010, Centrica entered into joint venture arrangements with Tullow Oil to explore for oil in the South Lokichar Basin in Kenya.

In September 2013, Centrica established Hive as part of its Connected Home offering, building on its Remote Heating Control service provided through its British Gas subsidiary.

Also in February 2015, under its British Gas brand, Centrica completed the acquisition of AlertMe, a connected home company based in the United Kingdom that provided innovative energy management products and services.

Centrica cut its dividend in July 2019, after making a loss of £446 million in the prior six months.

In June 2020, Centrica's shares were moved from the FTSE 100 to the FTSE 250 Index.

In 2020 Centrica employed about 27,000 people, with 20,000 based in the UK.

British Gas engineers employed by Centrica began a strike in January 2021, which was extended into February, and was eventually called off by the GMB union after 44 days of strike action, after members endorsed a new pay deal.

In July 2020, Centrica announced the sale of its subsidiary of Direct Energy in North America for $3.

Centrica's operations are principally the supply of electricity and gas to businesses and consumers in the United Kingdom.

In December 2017, Centrica launched a new company as a joint venture with German energy and infrastructure firm Stadtwerke Munchen.

Centrica entered the political arena in February 2014, by threatening an investment strike in response to the Labour Party's proposal for a price freeze.

Centrica has funded, in conjunction with Cuadrilla Resources, the North West Energy Task Force which on 8 January 2015 organised an Open Letter to Lancashire County Council in support of fracking.