Centrica pay £71m for New York energy sellers

Centrica is to buy two New York energy firms for £71million, it announced today. The British Gas owner’s North American subsidiary Direct Energy bought the firms which have 245,000 residential […]

Register now!

By Vicky Ellis

Centrica is to buy two New York energy firms for £71million, it announced today. The British Gas owner’s North American subsidiary Direct Energy bought the firms which have 245,000 residential and small commercial customer accounts from Iberdrola USA.

Centrica says bringing Energetix and NYSEG Solutions together with Direct Energy will create economies of scale and “significant” cost savings.

The purchase depends on approval from US regulators and is expected to close in autumn 2012.