British Gas owner Centrica set to post earnings at top of targets as calls grow for windfall tax on energy firms
The company said it has been boosted by “strong” volumes across its nuclear and gas production operations while its trading business has also increased volumes of gas and renewable energy to improve UK supply amid pressure from the Russian invasion of Ukraine.
Centrica also told shareholders it has “managed increased commodity price volatility well” in recent months.
In a statement, Centrica said: “In British Gas Services & Solutions we have seen some supply chain disruption and higher inflation impacting both the cost base and customer demand.
“We expect those headwinds to continue to, at least partially, offset underlying operational progress for the duration of this period of higher inflation.
“Significant uncertainties remain over the balance of the year, including the impacts of weather, commodity prices movements, asset performance and the potential for increased bad debt charges given the current inflationary pressures in the UK.”