Centrica acquires £370M gas power plant, boosting infrastructure earnings despite weaker retail sales.

Centrica PLC has completed the £370 million purchase of the 850MW Severn gas-fired power plant in south Wales, increasing its power portfolio to 4GW. The plant is expected to generate £30-60 million EBITDA annually from 2027 and provide £35 million yearly in capacity payments until 2030. This acquisition supports Centrica's infrastructure growth amid a mixed quarter where infrastructure earnings exceeded guidance but British Gas retail earnings fell due to weather and commodity price challenges. The company highlights the plant's role in ensuring reliable energy as older gas assets retire and demand grows.