Centrica has moved to secure more imports of gas through a deal with Norway's Equinor, announced on 5 June 20251. The agreement covers gas supply from the Norwegian state energy company, and Centrica says it bolsters UK energy security2.
The deal sits alongside Centrica's existing position in the UK gas market. Through the arrangement with Equinor, Centrica effectively controls around 10% of the UK's gas supply2. The company also holds part-ownership of a key gas import terminal2. Analysis cited by the End Fuel Poverty Coalition indicates the UK will be unable to meet heating demand from domestically extracted gas by 2027, making imported gas and the companies controlling its supply more critical to national energy security2.
The announcement comes as Centrica's Rough gas storage facility, the UK's largest, has returned to profit for its owner, reporting adjusted operating earnings of around £57 million in the first half of 20261. Centrica has declined to refill the site over the summer without a government support framework, meaning Rough is expected to be close to empty going into winter1. The company has confirmed that its production consent for Rough expires in April 2027 and that it does not intend to seek an extension, saying continued operation without redevelopment makes no economic sense1. It is pressing ministers to back a £2 billion redevelopment underpinned by a "cap and floor" pricing mechanism1.
Centrica, which owns British Gas, reported underlying operating profits of £814 million for last year, down from £1.55 billion in 2024, making £163 million from its retail businesses2. In July 2023 it was reported that market price movement meant its energy marketing and trading division alone made £1.4 billion in profit during the year2.
"It cannot be right that a storage site can turn a profit for its owner while being left close to empty, weakening one of the country's key defences against cold snaps and the price spikes that push up bills. Meanwhile the firm responsible, turns to bring in more imports to supply customers."
| Item | Figure |
|---|---|
| Rough adjusted operating earnings, first half of 2026 | around £57 million1 |
| Centrica underlying operating profits, last year | £814 million2 |
| Centrica underlying operating profits, 2024 | £1.55 billion2 |
| Centrica retail business profit, last year | £163 million2 |
| Share of UK gas supply controlled via Equinor arrangement | around 10%2 |
| Proposed Rough redevelopment | £2 billion1 |
Why it matters for households
Rough is a key piece of infrastructure that helps balance supply in winter and mitigate price volatility, yet storage has sat below optimal levels in recent seasons, exposing households to supply risks and higher costs2. With the site expected to be close to empty going into winter, one of the country's defences against cold snaps and the price spikes that push up bills is weakened1. The UK's growing reliance on imported gas, set against declining North Sea output, means the companies controlling supply carry more influence over the market2. For a household, that shapes both the reliability of winter supply and the price paid for it. The End Fuel Poverty Coalition argues that storage only ever softens the blow, and that the real problem is dependence on gas, which leaves households exposed to volatile global markets1. It calls for homegrown renewable power, reform of electricity pricing and upgrades to the coldest, dampest homes1. How Britain's gas is sourced, including from UK fields, Norway and imports, is set out in Where Britain's Gas Comes From: UK Fields, Norway and Imports.
What happens next
Centrica's production consent for Rough expires in April 2027, and the company does not intend to seek an extension1. It is pressing ministers to back a £2 billion redevelopment underpinned by a "cap and floor" pricing mechanism1. A formal Ofgem investigation into British Gas over prepayment meter installations is still ongoing, almost three years after it was opened2. No government decision on the Rough redevelopment has been reported.