Centrica Energy Trading A/S Annual Report 2023

Moving Energy in Moving Markets
Letter from the CEO & Senior Management

During 2023 we saw energy markets continue to stabilise

Moving out of a tumultuous 2022, where supply constraints in European energy markets pushed prices to historical heights – 2023 saw lower commodity prices and volatility, with mild weather, reduced energy demand, and strong gas storage levels driving increased stability in markets.
Chapter 01

Financial Highlights

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Our solid financial results demonstrate the stability of our business model and the synergies achieved by combining one of Europe's largest third-party portfolios of renewable assets with 24/7/365 power and gas trading across major European markets. 

Rasmus Barslund

Chief Financial Officer

Financial Highlights

Exceeding expectations for 2023

We’re proud to deliver solid financial results in 2023. Standing strong under turbulent market conditions in 2022, our robust and diversified business model and portfolio anchored in physical assets has continued to deliver value in 2023. 

Operating profit
Gross Profit
Profit for the year
Average number of employees
Tax contribution
Chapter 02

Market developments

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We’ve seen bearish, less volatile markets, but it’s clear that the performance of our teams, advanced trading strategies, and robust risk framework have allowed us to successfully navigate markets in transformation. 

Mandeep Bamal 

Vice President, Trading Analytics and Algorithm 

2023: Markets in movement

Chapter 03

Markets & Business Areas

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Among the first-movers in liberalised European energy markets, today we trade power and gas across 27 markets and operate one of Europe's largest and most diversified portfolios of third-party renewable and flexible assets.

Kristian Gjerløv-Juel

Vice President, Renewable Energy Trading & Optimisation

Trading & Asset Markets

Energy is always moving. So are we.



Renewables on contract



Flexible assets on contract


Markets traded

Power & Gas Trading

Moving energy from source to use

Over the last two decades we have built and matured our sustainable business model designed to efficiently move energy across grids and borders and accommodate growth in renewable energy trading and investments through the development and application of advanced risk-management capabilities and proprietary digital platforms. 


Lowering and levelling consumer prices across European markets, we capture and utilise the full value of cheap green electricity production when it's available. And when it’s not, we use our expertise to minimise the need for costly balancing energy required to keep the grid stable. 


Today we operate across all major European power and gas markets, trading 24/7/365 to support energy security of supply and markets in balance.


Active power markets


Active gas markets


Active asset markets

Chapter 04

Strategic Highlights

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The engagement of our people, their trust in the direction set by the Leadership Team, and the confidence in our business from investors and our Group have provided the foundation for making progress across all of our strategic objectives.

Nanna Damgaard Glad

Chief Marketing & Strategy Officer

Strategic Highlight 01

Powering green investors and corporates

For the past two-decades we have developed market-based solutions that enable the buildout and integration of renewable energy. Today our market presence stretches from the northern Finnish woodlands to the southern shores of Italy – with over 13 GW of solar and wind assets under contract.

Helping change how we power the world

Energising green gas grids

Strategic Highlight 02

Developing Renewable Energy Trading’s Digital Backbone

Our growing dependence on renewables means that our ability to accurately forecast and respond to fluctuations in supply and demand only grows in importance.


Leveraging deep market expertise, we combine enormous amounts of data with models and algorithms in technology platforms designed specifically to optimise solar, wind, and grid-scale battery assets. 


Markets with deployed algorithms


Algorithms trading live in the markets


Algorithmic researchers and developers

Strategic Highlight 03

Seismic shifts in European security of supply

Dramatic shifts in European energy supply routes have reversed gas flows from east-to-west to west-to-east. We're here to strengthen security of supply in markets undergoing transformation, supporting European gas storage filling requirements and the application of energy storage technologies. 

New paradigms in European gas

The power of grid-scale batteries

Strategic Highlight 04

Our People & Responsibility

Our greatest asset is our people, and our ability to keep energising a greener, fairer future depends on our ability to continuously recruit world-class talents and profiles, whilst ensuring we create a team with a diverse mix of people and skills.

Our efforts to level gender imbalances through new and inclusive initiatives

Capturing the interest of the energy industry’s talents of tomorrow

Chapter 05

People & Diversity

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Engaged and empowered people are the foundation on which we thrive and deliver, and during 2023 we continued to see positive trajectories across multiple people metrics, with engagement and wellbeing reaching all-time highs.  

Aki Danmark Palikaras

People Director

We are Energy
Movers by

We are always moving. Minds, people and energy. We are hundreds of passionate energy movers working day & night using cutting-edge software to minimise risks, optimise upsides, and execute physical trades minutes before delivery.


With the continued onboarding of highly engaged colleagues from all over the world, 2023 marked the sustained internationalisation of our organisation that now represents colleagues from over 46 different nations.


The diversity within our organisation is not merely a demographic statistic but a strategic choice and advantage, broadening our perspectives and enhancing our ability to navigate the complexities of the energy landscape.


Avg. full-time employees


Employees onboarded


Student workers

People & Diversity

Diversity of Nationalities


Different nationalities represented


Year-end total employees (including students)

Our Energy
Movers in

Supporting the responsible business ambitions of Centrica plc, we believe that building a more sustainable future requires the best team - and we're committed to demonstrating that career opportunity is equal irrespective of gender, nationality, ethnicity, religious background, or age.


During 2023, our DE&I work focused on gender and increasing the representation of women in the energy sector. We're proud to have been nominated as one of the Best Workplaces in Denmark for gender equality, and whilst we saw an increase in our share of female employees and managers, we know there's always more to do. 


Average age



Female employees



Male employees

We’re an award-winning workplace

During 2023 we were Great Place To Work® certified, with 94% of employees stating that taking everything into account, Centrica Energy is a Great Place to Work.

Meet our Energy Movers

We're a collection of number crunchers, problem solvers, digital specialists and algorithmic architects - but we're also athletes, creative souls, kite-surfers and much more. Below you can meet a few of our 547 energy movers, and check out what keeps them moving. 

Meet Oscar — Head of Trading Analytics

Meet Kathryn — Senior Forecasting Analyst

Meet Navi — UK Power Originator

Meet Livia — Software Developer and Scrum Master

Chapter 06

Social Responsibility

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I'm proud of our amazing energy movers who got out there and delivered more than 1400 volunteering hours during 2023 - dedicating time to mentoring talents, donating blood, helping underprivileged children, or fundraising for charities. 

Cassim Mangerah

Chief Executive Officer

Case stories

Working for society and our local communities

During 2023 we set a number of new initiatives into action, pushing new efforts to give back to society and our local communities across Europe.

Kickstarting our volunteering journey

Charity for local impact with a global outreach

Levelling the local playing field for women’s sports

Dive into the details

Media contact

Jens Uglvig

Press Officer


+45 22 38 63 22


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