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Centrica sets £1.1bn capex plan as Severn deal and infrastructure drive 2026 outlook

Story Highlights
  • Centrica plans about £1.1bn of 2026 capital spending and has acquired the 850MW Severn power station, which is expected to depress earnings this year but support EBITDA from 2027 onward.
  • The company now expects 2026 retail EBITDA at the lower end of guidance while infrastructure profits should exceed targets, driven by higher realised prices and strong metering and LNG-related contributions.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Centrica sets £1.1bn capex plan as Severn deal and infrastructure drive 2026 outlook

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Centrica ( (GB:CNA) ) has issued an announcement.

Centrica told shareholders at its Cardiff AGM that it is pressing ahead with its strategy, highlighted by about £1.1bn of planned 2026 capital investment and the roughly £370m purchase of the 850MW Severn power station. The group said the Severn plant will initially weigh on earnings this year due to integration and seasonal factors, before becoming a meaningful EBITDA contributor from 2027.

The company guided 2026 retail EBITDA towards the lower end of its £500m–£800m range, citing warmer weather, commodity price dynamics and persistent bad-debt issues in residential energy. In contrast, infrastructure EBITDA is expected to exceed the top end of guidance, helped by stronger realised prices and robust performance from its Meter Asset Provider unit, which is on track to install more than 1m meters and, along with Sizewell C and Grain LNG, deliver around £175m of EBITDA.

The most recent analyst rating on (GB:CNA) stock is a Buy with a £230.00 price target. To see the full list of analyst forecasts on Centrica stock, see the GB:CNA Stock Forecast page.

Spark’s Take on CNA Stock

According to Spark, TipRanks’ AI Analyst, CNA is a Neutral.

Overall score is driven primarily by mid-tier financial performance: strong revenue momentum and consistently positive free cash flow are offset by volatile bottom-line results (net loss in 2025) and a balance sheet that remains only moderately stable. Technicals are mildly supportive with the stock holding above key longer-term moving averages and neutral momentum. Valuation is reasonable with a moderate P/E and dividend yield.

To see Spark’s full report on CNA stock, click here.

More about Centrica

Centrica plc is a UK-based energy company listed on the London Stock Exchange, operating across retail supply, optimisation and infrastructure segments. Its activities span residential and business energy services, power generation and metering, with a growing focus on capital investment in generation assets and energy infrastructure to strengthen its position in the British energy market.

Average Trading Volume: 20,520,355

Technical Sentiment Signal: Buy

Current Market Cap: £9.6B

For detailed information about CNA stock, go to TipRanks’ Stock Analysis page.

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