London, Feb 15, 2026, 13:54 GMT — Market closed.
Centrica plc shares ended Friday down 0.98% at 191.45 pence, after trading between 190.40p and 194.60p, with about 37.5 million shares changing hands. (Hargreaves Lansdown)
London markets reopen on Monday, with the British Gas owner set to report full-year results on Feb 19. Centrica said the numbers will be published shortly after 0700 (UK time), with a live webcast at 0930. (Centrica Plc)
The timing matters because the group is also changing the way it reports. Centrica has said the 2025 preliminary results will be the first to reflect three pillars — Retail, Optimisation and Infrastructure — and that it will shift to adjusted EBITDA as its primary guidance metric. (Centrica Plc)
Regulation is the other near-term driver. Ofgem is due to announce the next energy price cap on Feb 25 for the April-to-June period. (Ofgem)
The current cap, which runs through March, implies an annual bill of £1,758 for a typical dual-fuel household paying by Direct Debit, Ofgem said. The cap limits unit rates and standing charges; it does not cap the overall bill, which still depends on usage. (Ofgem)
Centrica, meanwhile, used Friday to push its cost-of-living message. It launched a £2.4 million, three-year partnership with The Multibank charity and said it would link referrals into the British Gas Energy Trust for help such as fuel vouchers and debt support. “Poverty doesn’t happen in silos,” Chief Executive Chris O’Shea said. (Centrica Plc)
For investors, the bigger question is what the earnings print says about 2026 — especially retail supply margins and cash generation as competition stays sharp in the household market.
The price cap decision will apply across suppliers serving customers on default tariffs, including Centrica’s British Gas and rivals such as Octopus Energy, EDF Energy and E.ON Next.
Markets will also listen for any steer on shareholder returns. With UK utilities, dividends and buybacks can matter as much as the headline profit number, sometimes more.
But the downside case is easy to sketch. A warmer end to winter can soften demand, and any surprise move in the price cap or supplier bad-debt assumptions could squeeze retail margins. Trading earnings are also volatile by nature, which can jar sentiment fast.
The next catalysts are Centrica’s Feb 19 results (0700 UK time) and Ofgem’s Feb 25 price-cap announcement, which should frame expectations for margins into spring.
