Centrica falls after British Gas hit with $27 million Ofgem redress

Centrica

15/05/2026 08:09

** Shares of British Gas owner Centrica CNA.L down 1.3% at 199.7p

** UK energy regulator Ofgem says CNA's unit British Gas agreed to pay 20 mln pounds ($26.68 mln) in redress after regulator closed investigation into forced installation of prepayment meters (PPMs)

** Probe followed issues identified in 2023, covered activity between Feb 2018-Feb 2023

** British Gas accepts it fell short in its treatment of vulnerable customers in installation of PPMs & has taken action to address these failings

** As of last close, stock up ~19.26% YTD

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))