Centrica reported a 18% drop in first-half adjusted EBITDA to £737m but raised its interim dividend 9% as it reiterated long-term earnings targets.

"Sizewell B is critical to delivering the reliable, zero-carbon baseload power that supports Britain's energy security, protects skilled jobs and underpins a more resilient economy," said Chief Executive Chris O'Shea.

The British Gas owner will pay £20m into Ofgem’s Voluntary Redress Fund, review prepayment meter records dating back to 2018 and write off up to £70m of energy debt for vulnerable customers.

Centrica now expects retail adjusted EBITDA for 2026 to be towards the lower end of guidance and infrastructure adjusted EBITDA to be above the top end, with optimisation guidance unchanged.

Centrica has completed the £370 million enterprise‑value acquisition of the 850MW Severn combined‑cycle gas turbine, increasing its Power portfolio to 4GW and targeting £30-60m annual EBITDA from 2027.