London, March 17, 2026, 21:16 GMT.
Centrica shares added 1.78% on Tuesday, notching another 12-month high. According to Hargreaves Lansdown, the stock reached 214 pence during the session—topping last year’s 213.9 pence high—then finished up 3.7 pence from Monday’s close.
This latest move extends the bounce that started after Feb. 19, when Centrica trimmed its 2026 guidance for the Optimisation energy-trading business, hit pause on its buyback, and watched its shares sink 8%. Back then, JPMorgan analysts flagged that the reduced outlook and transformation expenses might drag on near-term estimates and the stock.
Hive, Centrica’s smart-home unit, landed in the news Tuesday after announcing a tie-up with Daikin. The deal bumps Works With Hive compatibility up to roughly a third of the UK’s air-source heat pump market. Those pumps use electricity to extract heat from outside air. Hive says it’s sticking to its forecast of supporting 80% of net-zero home tech devices by end-2026. “It’s not just about installing a heat pump,” Hive commercial director Tom Pakenham pointed out. Over at Daikin UK, executive Pieter Devloo said the partnership should help households manage their heating more efficiently. Centrica Plc
Broader gains lifted the mood. London’s FTSE 100 ended up 0.83%, its strongest session in a week. The FTSE 350 energy index surged 1.82% to an all-time high, with both BP and Shell advancing close to 2%. Energy shares across Europe climbed 2.3%, and utilities tacked on 1.6% as investors positioned ahead of central bank calls coming up this week.
Oil added fresh momentum, with Brent climbing 3.2% to close at $103.42 a barrel. The move came after Iran resumed attacks on the United Arab Emirates and ongoing disruption rattled the Strait of Hormuz, a crucial corridor for both oil and liquefied natural gas flows.
Back in February, Centrica put its 2026 Retail EBITDA outlook at somewhere between 500 million and 800 million pounds, with Infrastructure guided to 500 million-650 million pounds. Optimisation, though, got trimmed to around 250 million pounds—lower than the previous range. Chief Executive Chris O’Shea described the buyback pause as a move to “prioritise investment.” Centrica Plc
Connected home energy is running into a more challenging retail climate. Just last week, Reuters reported that Tesla secured a license to supply electricity to homes in Britain, putting it in direct competition with long-standing names like British Gas, Octopus Energy, and EDF.
Still, there’s a risk the rally may backfire if rising wholesale prices end up inflicting more pain on customers than any boost to market sentiment can offset. Earlier this month, Reuters flagged that analysts are now eyeing a possible 10% hike in Britain’s regulated household energy cap from July, assuming current volatility sticks around—a move that could pile fresh pressure onto suppliers and policymakers.
