[15] At the end of 1998, under CEO Sir Roy Gardner and Finance Director Mark Clare, Centrica attempted to diversify – firstly by developing the Goldfish credit card,[16] then in July 1999, by acquiring The AA for £1.1 billion.

[19] Direct Energy's operations were subsequently considerably expanded through a number of further acquisitions, including of Enbridge Services for £437 million in January 2002.

The change started with the sale of the Goldfish business to Lloyds TSB[21] (who subsequently sold it to Morgan Stanley Bank International Limited).

Combining with the existing energy offer made Centrica the largest provider of heating and cooling, plumbing and electrical services in North America.

[34] In February 2012, Centrica signed a £2 billion three-year contract with Qatargas for the purchase of 2.4 million tonnes a year of liquefied natural gas.

[39] In March 2014, Centrica acquired the retail arm and other assets belonging to Ireland's state owned Bord Gáis for a fee of around €1.1 billion.

[42] In September 2013, Centrica established Hive as part of its Connected Home offering, building on its Remote Heating Control service provided through its British Gas subsidiary.

This focused on outlook and sources of growth; portfolio mix and capital intensity; operating capability and efficiency; and group financial framework.

[44] Also in February 2015, under its British Gas brand, Centrica completed the acquisition of AlertMe, a connected home company based in the United Kingdom that provided innovative energy management products and services.

[52] The British Gas brand lost 750,000 domestic customers in 2017 amid intense competition, contributing to a February 2018 announcement that 4,000 jobs would be cut.

[63] In February 2023, Centrica reported a large operating profit in 2022; it increased due to the jump in energy prices after the Russian invasion of Ukraine.

[64] In July 2023, Centrica finalised an $8 billion agreement to purchase liquefied natural gas (LNG) from a new floating production facility in the Gulf of Mexico.

The company now produces 14.3% of its electricity from nuclear plants (the second highest rate in the United Kingdom), helping it to achieve the lowest carbon emissions of the major providers.

[71] In December 2017, Centrica launched a new company as a joint venture with German energy and infrastructure firm Stadtwerke München (SWM).

Spirit Energy, an exploration and production (E&P) company, is the result of a combination of Centrica's E&P business and Bayerngas Norge AS, which was formerly majority-owned by SWM.

[77] A spokesperson for British Gas said the company felt that finding it in breach of rules for failing to provide adequate information to consumers about the energy ombudsman was "disproportionate to the mistake".

[77] British Gas claims it spotted the problem – it said an over-reporting of the amount of renewable energy it was supplying caused by human error – and notified the regulator.

[77] Centrica entered the political arena in February 2014, by threatening an investment strike in response to the Labour Party's proposal for a price freeze.

Caroline Flint, the shadow energy secretary, said: "It is not acceptable for companies to threaten that the lights will go out because they don't want greater transparency, competition and accountability".

[78] Centrica, in conjunction with Cuadrilla Resources, funded the North West Energy Task Force[79] which on 8 January 2015 organised an Open Letter to Lancashire County Council in support of fracking.