British Gas plc was formed as a result of the privatization of the British Gas Corporation in 1986, one of many privatizations brought about during the time Margaret Thatcher served as British Prime Minister. Further changes took place in 1997, with British Gas undergoing a demerger to form Centrica and BG plc. Centrica retained the British Gas brand, allowing Centrica to provide gas and electricity to residential and business customers in the UK.
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