Bord Gáis Energy announces profit of €39m for first half of 2025

Bord Gáis Energy has announced a profit of €39m for the first half of 2025, with its customer base growing by 3%. Picture: Pexels

Bord Gáis Energy has announced a profit of €39m for the first half of 2025, with its customer base growing by 3%.

The results compare with a profit of €50m for the equivalent period in 2024. Nevertheless the company, which is owned by Centrica, said the results reflected a good performance across its retail, trading, and asset portfolios. 

The results came as parent company Centrica said on Thursday its adjusted operating profit had halved in the first half of 2025 to €663m. 

Bord Gais has been focusing on developing two hydrogen-capable 100MW gas peaking plants in Athlone and Dublin and the development of a 334MW Open Cycle Gas Turbine project in Galway. Commissioning of the Athlone and Dublin plants is expected to commence later this year. 

"Our parent company Centrica’s capital investment is enabling us to power Ireland’s economic growth and green transition. This will play an important role in delivering a green, secure and competitive energy sector for Ireland," said BGE managing director Dave Kirwan. 

In January, BGE completed the acquisition of Swyft Energy, enhancing its solar PV capabilities. Earlier this month, BGE signed multiple power purchase agreements with renewable developers, which will see the company buy enough energy to power around 250,000 homes. The new solar agreements are with Highfield Energy, BNRG, ILOS Energy and Power Capital Renewable Energy while Bord Gáis Energy has signed onshore wind offtake agreements with Encavis and Tullynamoyle 5.

Meanwhile Centrica said on Thursday its adjusted operating profit halved in the first half of this year, due to mild weather, falling wholesale energy prices and weaker returns from gas storage. The company said its operating profit for the six months ended June 30 fell to £500m (€663m) from just over double that in the same period last year.

Centrica is also the owner of British Gas.