The facilities, in Dublin and Athlone, are so-called ‘peaker plants’, intended to operate at times when the electricity grid comes under strain to meet demand. The plants also assist with the continuing transition to renewable energy, helping to underpin the grid at times when the generation of renewable electricity dips.
The energy giant is also planning to build a third such facility in Galway, which will generate up to 334MW of power. A 10-year capacity contract has already been secured for the project. Centrica is due to make a final investment decision for the Galway plant early next year.
Capacity contracts guarantee that energy generators receive a minimum amount of money for making power generating capacity available.
“Our two 100MW flexible peaking plants are now expected to commence commissioning in the middle of 2026, following delays to gas and grid connections,” noted Centrica as it published full-year results.
“We have secured an extension to the start date of the 10-year capacity market contracts to mitigate potential losses and have also learned valuable lessons.”
Centrica has more than 1GW of generation assets in Ireland that are either operational or in development.
It also owns a 445MW gas-powered station at Whitegate in Cork. It has been awarded a five-year capacity contract from 2028. Centrica said that ensures continued operations at the site and underpins economic return until 2033.
In Ireland, Bord Gáis Energy generated revenue of £1.02bn (€1.16bn) last year, unchanged over 2024.
It posted adjusted earnings before interest, tax, depreciation and amortisation of £79m, also unchanged over 2024. Those revenues and earnings are generated from across the Bord Gáis Energy operational platform in Ireland,
“Our 2025 results reflect disciplined operational performance alongside accelerated delivery of our infrastructure programme and net-zero growth strategy,” said Dave Kirwan, Bord Gáis Energy chairman and managing director of Centrica Power.
“Through our investment in energy infrastructure, we are enhancing system reliability and enabling renewable integration at scale,” he added.
Shares in Centrica – which also owns British Gas – tumbled in London on Thursday as the company paused a share buyback programme and said that profit at its energy-trading division will not hit projections.
“Pausing the buyback enables us to prioritise investment that creates lasting value for shareholders, while continuing to deliver the reliable, affordable energy that households and businesses need to power economic growth through the transition,” said group chief executive Chris O’Shea.
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