London, Feb 16, 2026, 09:41 GMT — Regular session
- Centrica shares up about 0.3% in early London trade
- British Gas owner highlights fresh winter support spending for customers in energy debt
- Investors look to Feb 19 results and guidance reset under new reporting lines
Centrica shares nudged higher in early London trade on Monday, up about 0.3% at 191.97 pence, after moving between 190.45 and 192.00. The British Gas owner is still a touch below its 52-week high of 196.70 pence, leaving it valued at roughly 8.65 billion pounds. (Investing)
The stock is drawing attention because Centrica is due to report full-year 2025 preliminary results on Feb. 19, when it plans to start showing a new three-part structure — Retail, Optimisation and Infrastructure — and shift its main guidance yardstick to adjusted EBITDA. That metric strips out items the company treats as one-offs and can change how investors compare it with peers. (Centrica Plc)
The near-term backdrop for its retail arm is still shaped by Britain’s energy price cap — a limit on tariffs for households on default deals — which sits at £1,758 for the January-to-March quarter. Ofgem is due to announce the next cap, for April to June, on Feb. 25. (Ofgem)
European equities were slightly firmer on the day, with the STOXX 600 up 0.2% by 0844 GMT, giving UK stocks a steadier tone into the open. (Reuters)
Centrica, in a statement on Monday, said thousands of British Gas customers had received help towards energy costs this winter through the Energy Support Fund, with more than £1 million paid out. It said the fund offers grants of up to £2,000 for eligible customers with energy debt, and that British Gas has committed more than £140 million in voluntary support since 2021 — rising to just over £469 million when including Warm Home Discount scheme contributions. British Gas managing director Gary Booker said, “We know this winter has been particularly tough,” while British Gas Energy Trust interim CEO Tracey Talbot said, “Falling behind on your bills can happen to anyone.” (Centrica Plc)
The customer-support push is unlikely to shift earnings on its own, but it adds to the political and regulatory lens on suppliers as households head into the final stretch of winter bills.
Energy prices are moving the other way. Dutch TTF natural gas futures — a key European benchmark — were around 30.835 euros per megawatt hour, down from a prior close of 32.500, with the day’s range between 30.250 and 31.340. A megawatt hour is a standard unit used to price power and gas contracts. (Investing)
For Centrica, that matters less for the number on a screen than for what it implies about volatility and hedging, the spread between wholesale prices and regulated retail tariffs, and demand for storage and trading services.
Still, the risk for the stock is that a mild late-winter and softer price swings dull the contribution from its optimisation business, while any jump in customer debt costs or tougher rules around retail supply could drag on the numbers.
Next up is Thursday’s results on Feb. 19, with investors looking for the first read-through on the reshaped segments and any fresh steer on earnings and cash returns. Ofgem’s price-cap decision on Feb. 25 is the next hard date on the retail calendar.
