Bord Gáis sees 90% drop in profits while parent company steps up shareholder payouts

Energy supplier posted €2m profit for 2023, which was €34m less than in the previous year 

Results for parent company, Centrica, which also owns British Gas, were driven mostly by a strong performance for its UK retail arm, while profits were lower across other parts of the business, including trading, storage and nuclear.

Profits at energy giant Bord Gáis dropped by more than 90% last year, falling to €2m in 2023 as the company ramped up investment totalling €300m.

The gas and electricity supplier said it balanced pricing pressure in energy supply with a "strong performance" from its power generation and trading activities in 2023.