The head of Centrica, the parent company of British Gas, received over £4.7 million in total compensation last year, which included a salary of more than £1 million and bonus payments of almost £3.6 million. Despite a decrease in profits to £814 million in 2025 from £1.55 billion in 2024, Chief Executive Chris O’Shea’s pay package increased. This decrease was attributed to various factors, including warmer weather impacting British Gas operations and more customers opting for cheaper energy tariffs.

The total compensation for Mr. O’Shea in 2025 was £4.73 million, slightly lower than the £5.08 million he received in 2024. This significant pay package comes in the face of dissent from shareholders, with nearly 40% voting against the company’s pay plans at the annual general meeting last year. Mr. O’Shea’s pay is set to increase by 3% to £1.13 million annually, with the wider workforce also seeing average pay rises of 3% to 4%.

Despite the challenging environment, Centrica reported strong operational performance and customer growth in its retail businesses. British Gas witnessed a 1% increase in household customer numbers in the UK and Ireland, reaching 7.96 million, with additional customers gained from failed suppliers Rebel Energy and Tomato Energy. However, British Gas lost its position as the largest household energy supplier to rival Octopus Energy.

Industry analysts predict a 7% reduction in Ofgem’s energy price cap, which could lead to a decrease of £117 in annual energy bills for a typical dual fuel household starting April 1st. This reduction follows Chancellor Rachel Reeves’ announcement in the previous Budget to cut £150 from average household bills by scrapping the Energy Company Obligation scheme introduced by the previous government.