Centrica’s adjusted earnings down by a third from 2023 when profits hit £3.5bn after £500m Ofgem windfall

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The owner of British Gas has reported a slump in its annual profits after the supplier was ousted as Britain’s largest provider of gas and electricity for the first time last year.

The supplier’s parent company, Centrica, reported adjusted earnings of £2.3bn for last year, down by a third from 2023 when its profits reached £3.5bn after a £500m windfall from the energy regulator.