British Gas owner buys gas-fired power station for £370m for energy ‘security’

British Gas owner snaps up gas-fired power station for £370m in south Wales

The need for gas-fired power stations will increase despite the race to Net Zero, the boss of energy giant Centrica has said. Centrica, which owns British Gas, has paid £370m for the Severn gas turbine power station in Wales, which it said would help keep energy supplies “secure and affordable”. Chief executive Chris O’Shea told investors that natural gas-fired generation will “continue to play a critical role in maintaining system stability thr…

British Gas owner buys gas-fired power station for £370m for energy ‘security’

The household energy business said it has completed the acquisition of the Severn gas turbine power station.

Centrica Shares Sink as British Gas Owner’s Retail Warning Overshadows £370 Million Severn Deal

Centrica shares dropped 5.16% after warning retail energy earnings will hit the low end of 2026 forecasts, despite announcing a £370 million deal to buy the Severn gas power plant. The company expects retail EBITDA near £500 million, while infrastructure EBITDA should exceed £650 million. Severn is set to add up to £60 million in annual EBITDA from 2027. Shareholders approved all AGM resolutions, including a final dividend. The post Centrica Sha…

British Gas owner buys Welsh gas-fired power station for £370m

It has acquired Severn power station in Newport

Centrica completes acquisition of 850MW Severn power station

Centrica have today announced the acquisition of the Severn Combined-Cycle Gas Turbine (CCGT) power station in South Wales from Calon Energy Group for approximately £370 million. This is a major addition to Centrica’s flexible generation portfolio bringing the company’s total UK and Ireland electricity generation capacity to 4GW, including 1GW of assets currently in planning and construction – enough to power up to 6 million homes. Commissioned …

British Gas owner buys gas-fired power station in Wales for energy ‘security’

British Gas owner Centrica has bought a gas-fired power station in Wales for £370 million which its boss said will help keep energy supplies “secure and affordable” amid a global spike in gas prices. The household energy business said it had completed the acquisition of the Severn gas turbine power station, which it said is […]