EU clears Centrica’s gas plants sale for £318m

The European Commission has approved the buyout of Centrica’s combined cycle gas turbine (CCGT) power stations by a UK arm of a Czech utility company. The Langage and South Humber Bank […]

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By Priyanka Shrestha

The European Commission has approved the buyout of Centrica’s combined cycle gas turbine (CCGT) power stations by a UK arm of a Czech utility company.

The Langage and South Humber Bank CCGT plants, with a combined capacity of 2.3GW, are located near Plymoouth and Stallingborough.

The sale is part of Centrica’s strategy to invest more in the growing home services market and flexible generation.

The Commission said the £318 million buyout of the two gas plants by EPH’s EP UK Investments would raise no competition concerns because of the companies’ limited combined market share and the presence of several established competitors.

EPH is a utility firm engaged in brown coal extraction, electricity and heat production, distribution and supply as well as gas transmission, distribution and storage.

Earlier this year, Centrica said it would permanently close the Rough gas storage facility and recently announced plans to combine its exploration and production business with an Oslo-based company.