What is Centrica CEO Chris O'Shea's warning regarding failed energy providers?

O'Shea says he may be reluctant to bail out more failed energy providers in the future if they cannot raise enough capital to meet Ofgem's financial resilience targets.

How has Ofgem responded to O'Shea's criticism?

Ofgem has defended its actions, stating that its regulation has led to the sector now holding around £7.5 billion in assets, a significant improvement from the negative £1.7 billion during the crisis. However, the regulator has not officially disclosed which providers failed to meet its targets.

What is the situation with Ovo Energy, a major UK energy supplier?

Auditors at Ovo Energy, a provider with 4 million customers, have recently raised concerns over the firm's ability to continue as a going concern. Ovo has been given extra time to try to raise capital from potential investors.

Home / Business and Economy / Centrica CEO Warns of Reluctance to Bail Out Failed Energy Providers

Centrica CEO Warns of Reluctance to Bail Out Failed Energy Providers

16 Nov

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Summary

Centrica CEO Chris O'Shea may not rescue more failed energy providers
Ofgem accused of not being transparent about firms' financial shortfalls
Ovo Energy facing concerns over ability to continue as a going concern

Centrica CEO Warns of Reluctance to Bail Out Failed Energy Providers

As of November 16, 2025, Centrica CEO Chris O'Shea has issued a warning that he may be reluctant to bail out failed energy providers in the future. O'Shea's comments come amid intense speculation that a major energy supplier is on the verge of collapse.

O'Shea, whose company British Gas is the parent of Centrica, recently stepped in to rescue customers of the collapsed supplier Tomato Energy. However, he stated that he may not be willing to do the same for more firms if they are unable to raise enough capital to meet the financial resilience targets set by industry regulator Ofgem.

"If they can't raise the capital, if the market is not investible, why would I want to do that?" O'Shea said. "I want to help customers. But if the same thing keeps happening then I don't want any part of it."