Economic Audit: British Gas

Economic Audit: British Gas / Centrica plc - Supply Chain & Corporate Footprint Economic Nexus

Audit Phase: Economic Target Entity: British Gas (operating brand of Centrica plc, LSE: CNA) Audit Period: 2015–2026 Date: 2026

Supply Chain & Sourcing Relationships

Direct Supplier Relationships

• No publicly identified direct commercial purchasing relationships between Centrica / British Gas and Israeli agricultural exporters, including Mehadrin, Hadiklaim, Galilee Export, Agrexco, or documented successors, were identified in available public disclosures ¹².
• No evidence of procurement of Medjool dates, avocados, citrus, fresh herbs, or potatoes from Israeli suppliers was identified in available public disclosures ¹².
• Centrica does not operate as an importer of record for goods from Israel or occupied territories in the food or agricultural sector, and no dedicated import entity or joint venture for settlement-origin goods was identified in available public disclosures ¹².

Seasonal and Counter-Seasonal Sourcing

• No evidence of recurring seasonal procurement from Israeli suppliers, including during counter-seasonal windows from December through April, was identified in available public disclosures ¹².

Third-Party and Indirect Sourcing

• No public evidence was identified that Israeli-origin products reach British Gas’s shelves or customers via third-party distributors, white-label arrangements, or reseller channels ¹².

Product Origin, Labeling & Regulatory Compliance

Settlement-Origin Products

• No public reports, NGO investigations, regulatory citations, or customs audit findings were identified regarding goods labeled “Produce of Israel” that are suspected or confirmed to originate from the West Bank, Jordan Valley, or Golan Heights in relation to British Gas or Centrica ¹².

Labeling Compliance

• No government advisories, enforcement actions, or regulatory findings regarding country-of-origin labeling for settlement-produced goods were identified in relation to Centrica or British Gas ¹².

Corporate Labeling Policy

• Centrica has published no standalone policy specifically addressing the sourcing or labeling of goods from occupied or contested territories ³⁴⁵⁶.
• Centrica’s group-wide ethics code, titled “Our Code,” which is mandatory for all colleagues, includes a commitment to human rights ⁵.
• Centrica’s Supplier Code of Conduct, last updated in March 2026, requires suppliers to uphold human rights and align with the UN Guiding Principles, UN Global Compact, and ILO standards, and prohibits forced and child labour; no explicit occupied-territory or settlement-origin goods clause was identified in available disclosures ⁴.
• Centrica’s Responsible Sourcing Standard covers suppliers operating on behalf of Centrica and requires alignment with UN Global Compact and UN Guiding Principles; no explicit settlement-territory clause was identified in available disclosures ⁶.
• Supplier onboarding uses SAP Ariba SLP (Supplier Lifecycle and Performance) with Sedex ethical risk assessment, incorporating country-of-origin risk as a due-diligence factor; no explicit settlement-territory flagging mechanism was identified in available disclosures ³.

Investment, Capital & Financial Exposure

Foreign Direct Investment

• Centrica, through its US subsidiary Direct Energy, acquired Panoramic Power in November 2015 for approximately $60M (£39M) ⁷.
• Panoramic Power was an Israeli energy management technology company founded in 2009, headquartered in Kfar Saba, Israel, with additional offices in New York and the United Kingdom; it developed wireless, self-powered circuit-level sensors with cloud-based analytics for commercial and industrial energy management ⁷.
• The acquisition of Panoramic Power was structured as an exclusive partnership arrangement from June 2014 before converting to full acquisition ⁷.
• Centrica disposed of Panoramic Power on 9 February 2026 as part of a package of European energy solutions businesses, with total disposal proceeds exceeding £80M; the specific acquirer of Panoramic Power was not named in any available Centrica press release or regulatory filing ⁸⁹.
• Panoramic Power’s technology platform continues to operate under the brand name “PowerRadar,” with active product updates confirmed as of 24 May 2026 ¹⁰.
• Centrica invested $12M in Driivz, an Israeli EV charging software platform, in 2018 through Centrica Innovations ¹¹¹².
• Driivz was sold by Centrica in 2022, with US industrial firm Vontier Corporation completing its acquisition in February 2022 ¹³.
• Driivz retains active Israeli-domiciled operations under Vontier ownership, with headquarters confirmed at 4 Haharash St., Hod Hasharon, Israel ¹⁴¹⁵.
• Driivz confirmed a commercial partnership with Greenspot in July 2025 ¹⁶.
• Driivz serves customers in more than 30 countries from its Israeli base ¹⁴¹⁵.
• Centrica established an Israel-focused investment vehicle (Centrica Innovations) circa 2017 with a stated budget of approximately £140M, mostly designated for Israel, under Investment Director Idan Mor ¹¹.
• Two Israeli investments were confirmed through Centrica Innovations: Panoramic Power (acquired 2015) and Driivz ($12M, 2018); no additional Israeli portfolio companies were identified in available disclosures ¹¹¹².
• Centrica Innovations was succeeded by “Energised Futures,” launched in June 2024, which has no disclosed Israel investment mandate and focuses on UK retail energy research ¹⁷¹⁸.
• Centrica’s Combined Common Investment Fund (staff retirement investment fund) was one of the largest limited partners in Novalpina Capital’s 2019 fund, which acquired a majority stake in NSO Group Technologies ¹⁹²⁰.
• NSO Group Technologies is an Israeli cyber-intelligence company headquartered in Herzliya, Israel, and developer of Pegasus spyware; it was placed on the US Commerce Department blacklist in November 2021 ²¹.
• Centrica’s pension fund held a seat on Novalpina’s investor committee ¹⁹.
• Novalpina Capital was removed as general partner of the fund by LP vote in July 2021; Berkeley Research Group subsidiary BRG/NOAL GP SARL became the replacement general partner ²².
• The Novalpina founders subsequently engaged in a legal dispute over fund control ²³.
• NSO Group was subsequently deemed valueless by financial reporting ²³.
• Whether Centrica’s pension fund retains any residual interest in the fund structure, absorbed a write-down, or fully exited via the management buyout is undisclosed in available public sources ¹⁹²⁰²².
• Centrica acquired ENSEK, a UK energy software company, post-2022, which powers the Ignition customer platform in British Gas Energy ²⁴.
• Centrica co-invested £300M in Highview Power, a UK liquid air energy storage developer, alongside UK Infrastructure Bank, Goldman Sachs, Kirkbi, and Sumitomo SHI FW ²⁵.
• Centrica acquired the Grain LNG Terminal, Europe’s largest gas import terminal, for approximately £1.5B in 2025 ²⁵.
• Centrica announced the acquisition of the 850MW Severn power station in May 2026 ⁹.

R&D and Innovation Centres

• No R&D facilities, innovation labs, or accelerator programmes operated by Centrica or British Gas within Israel or occupied territories were identified in available public disclosures ¹².
• Energised Futures, the successor to Centrica Innovations launched in June 2024, is UK-focused and led by Ben Krikler as Director of Research and Innovation ¹⁷.
• The Energised Futures advisory board includes Pat Symonds, Professor Peter Childs, Allegra Stratton, Dan Rosenfield, Dr Robert Booker, and Jane Goodland (LSEG Group Head of Sustainability); no Israel-specific technology investment mandate was identified in available disclosures ¹⁸.

Parent and Beneficial Ownership Flows

• Centrica plc (LSE: CNA; registered Windsor, Berkshire, UK) is the ultimate parent company and is listed on the FTSE 100 ²⁵.
• No Israeli-domiciled entity holds a beneficial ownership stake of 10% or greater in Centrica; BlackRock holds 9.1% as confirmed via institutional shareholder register data ²⁶.
• Major LSE custodian nominee accounts, including those of Barclays, Vanguard, and abrdn, hold significant positions in Centrica; whether Israeli pension funds or sovereign entities hold indirect beneficial ownership through nominee accounts is not disclosed ²⁶.
• No evidence that Centrica’s beneficial owners hold separate direct investments in Israeli companies that could be attributed to the Centrica group was identified in available public disclosures ¹².

Portfolio and Fund Exposure

• No public evidence of Centrica holding Israeli sovereign bonds, Israel Bonds (Development Corporation for Israel), or Israeli settlement bonds was identified in available public disclosures ¹².

Operational Presence & Market Activity

Physical Footprint

• Centrica explicitly states that it does not operate in Areas of Palestinian Authority nor in Israel ²⁷.
• No offices, warehouses, sales operations, support centres, or retail locations operated by British Gas or Centrica within Israel or occupied territories were identified in available public disclosures ²⁷¹².

Employment and Tax Contribution

• No Centrica workforce is documented within Israel in available public disclosures; no Israeli tax registration or regulatory filings were identified ¹².

Market Positioning

• Centrica characterised Israel as an investment and technology sourcing market through Centrica Innovations, active circa 2017 through 2024, rather than as a commercial sales market ¹¹²⁸.
• No Centrica annual report, investor presentation, or press release characterises Israel as a strategic growth or major revenue market ¹¹¹⁷²⁵.

Corporate Structure & Foundational Ties

Founding and Incorporation History

• British Gas was founded in the United Kingdom and was formerly a UK state-owned monopoly; Centrica plc was demerged from BG Group in 1997 ²⁵.
• BG Group subsequently merged with Royal Dutch Shell in 2016; the current Centrica entity is UK-domiciled with no Israeli founding or incorporation history ²⁵.
• Historical matter: BG Group (now Shell, separately listed post-1997 demerger) held a 90% equity interest in the PA-licensed offshore Gaza Marine gas field and drilled two wells in 2000; the Israeli government subsequently obstructed development ²⁹³⁰.
• This historical matter predates the current Centrica plc entity and is documented in SOMO’s “Beneath Troubled Waters” report (2017) ²⁹.

Headquarters and Domicile

• Centrica plc’s registered office is located in Windsor, Berkshire, England, UK; operational headquarters are also located in Windsor, UK ²⁵³¹.
• No dual or legacy headquarters is maintained in Israel ²⁵³¹.

State and Institutional Linkages

• No state ownership stakes, government board appointees, or Israeli government contracts were identified for Centrica or British Gas in available public disclosures ¹².
• No designation as critical national infrastructure in Israel was identified for Centrica or British Gas ¹².
• Centrica Business Solutions pursues UK public sector energy contracts, including Ministry of Defence energy projects under “Project Prometheus”; no evidence that Israeli technology vendors are embedded in these contracts was identified ¹².
• No golden shares, founder shares, charter restrictions, or other governance mechanisms structurally tying Centrica’s operations or mission to the Israeli state or its policy objectives were identified in available public disclosures ¹².

Board of Directors

• The Centrica plc board of directors includes Kevin O’Byrne (Chair), Chris O’Shea (Group CEO), Russell O’Brien (CFO), Jo Harlow, Carol Arrowsmith, Philippe Boisseau, Nathan Bostock, CP Duggal, Amber Rudd, Alessandra Pasini, Frank Mastiaux, and Jonathan Howell ³¹³².
• Former directors include Heidi Mottram ³¹.
• No disclosed ties to Israeli defence contractors, settlement NGOs, Israeli state institutions, or Israeli financial institutions were identified for any board member in available public disclosures ¹².
• Amber Rudd serves as a non-executive director, appointed in January 2022; her confirmed external appointments include Equinor, Pinwheel, FGS Advisory, Centerview Partners, Ryanair Holdings plc, and trusteeships at RUSI, Snowdon Trust, Friends of Kyiv School of Economics, and Action Against Gambling Harms; no ties to Israel Bonds, JNF, WZO, or settlement-linked entities were found in available disclosures ³².

Constructive Notice

• Centrica has made no public statement referencing the ICJ Advisory Opinion (July 2024) or ICC arrest warrants (November 2024); no press releases, policy updates, or investment committee decisions in response to these events were identified in available public disclosures ¹².
• Disposal of Panoramic Power in February 2026 occurred post-ICJ and post-ICC events but the disposal announcement does not reference these events ⁸.

NGO Database Listings

• Centrica and British Gas were not found in reviewed UN OHCHR Settlement Business Database table entries under HRC Res 31/36 and 53/25 iterations ³³.
• The DBIO Coalition “Don’t Buy Into Occupation” 2025 report, which lists 104 companies with economic involvement in Israeli settlements, does not include Centrica or British Gas ³⁴.
• SOMO’s “Powering Injustice” report (December 2024) contains no Centrica or British Gas mentions in reviewed content ³⁵.
• The Who Profits company database contains no Centrica or British Gas entries in company listings ³⁶.
• The AFSC Investigate database, covering 295 companies, contains no Centrica or British Gas entries ³⁷.
• The PAX “Companies Arming Israel” report (June 2024) contains no evidence that Centrica appears in the financier matrix ³⁸.

Profit Repatriation & Economic Contribution

Revenue Attribution

• No disclosed revenue generated from or attributed to Israel as a market was identified in Centrica’s annual reports, investor presentations, or regulatory filings ¹².

Profit Flows

• No publicly available assessments, industry reports, or government designations characterising Centrica’s significance within the Israeli economy were identified in available public disclosures ¹².

Economic Ecosystem Role

• No Israeli sector anchor, key employer, or infrastructure provider designation for British Gas or Centrica within the Israeli economy was identified in available public disclosures ¹².

End Notes