Centrica, the parent company of British Gas, has announced it will wind down its Hive brand. The decision follows a strategic review of the business, which offered smart home products like thermostats and cameras, as well as energy tariffs.
The company stated that Hive's products and services will continue to be supported for existing customers. However, no new Hive-branded energy tariffs will be sold, and the focus for smart home products will shift to integration with British Gas services.
Centrica acquired full control of Hive in 2019. The move to close the standalone brand is part of a broader strategy to simplify its operations and focus on its core British Gas business in the UK and Ireland.
The winding down process is expected to be completed over the coming months. No specific job loss figures were immediately provided in the initial announcement.
