Centrica plc (CNA.L) on Thursday announced the acquisition of the Severn combined-cycle gas turbine power station in South Wales from Calon Energy Group for about £370 million.
"This is a major addition to Centrica's flexible generation portfolio bringing the company's total UK and Ireland electricity generation capacity to 4GW, including 1 GW of assets currently in planning and construction - enough to power up to 6 million homes," the company said in a statement.
The Severn plant is expected to generate average capacity market payments of £35 million per annum until 2030 and annual EBITDA (earnings before interest, taxes, depreciation and amortisation) of £30 million to £60 million from 2027, with earnings per share accretion expected from the first full year following completion.
Additionally, Centrica said it expects capital investment in 2026 to total around £1.1 billion.
The company expects full-year Infrastructure EBITDA to exceed the top end of its £500 million to £650 million guidance range, mainly supported by higher realised prices.
Retail EBITDA is expected to be toward the lower end of its £500 million to £800 million outlook.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.