Centrica to sell Norwegian oil and gas assets

The British gas owner’s subsidiary will sell its Norwegian oil and gas business and a North Sea field for $1m

German utility RWE inks solar PPA with Direct Energy

The 25MW Canadian Hull solar plant, which is located in Southern Alberta, is expected to supply up to 50,000MWh of electricity annually under the 10-year contract

Centrica sells North American business for $3.6bn

The move is expected to help the energy giant reduce the debt and focus on the UK and Irish markets

Centrica buys US solar firm for $54m

Centrica’s North American arm, Direct Energy, has bought a residential solar business for $54 million (£32m). Astrum Solar designs, installs and maintains solar power generating equipment for use in homes and has so far installed around 4,000 residential PV systems in the Northeast region of the US and California. The company is expected to generate […]

Centrica to sell Canadian home services arm

The owner of British Gas has agreed to sell its home services business in Ontario, Canada for C$550 million (£300m). Centrica’s North American subsidiary, Direct Energy, provides a range of plumbing, heating, ventilation, air conditioning and other related services and currently has nearly 1.9 million home services contracts in Ontario. EnerCare will license Direct Energy […]

Centrica sells three Texas power stations for $685m

British Gas owner Centrica confirmed plans to sell its gas-fired power stations in Texas for $685 million (£420m) in cash. Blackstone Group, a global investment and advisory firm, will buy three power plants from Centrica’s North American subsidiary Direct Energy – which the British energy giant bought for £500 million earlier this year. The units […]

British Gas plans to offer ‘free electricity’ on Saturdays

Energy giant British Gas is considering introducing a new tariff that involves offering “free electricity” to UK households on Saturdays. Called ‘Free Power Saturday’, the plan was initiated by British Gas’ Direct Energy business in North America, where it doesn’t charge its customers for the power they use on Saturdays when demand is low. It […]

Centrica buys US Energy Marketing business

Centrica is paying £500million for the US energy marketing branch of oil and energy firm Hess Corporation. It’s the UK firm’s second US buy announced in a month which suggests the parent company of British Gas is keen to take a bigger bite of business across the Atlantic. It claims the purchase will make its […]

Centrica to buy online US energy retailer for £30m

The owner of British Gas is buying a Texas-based electricity retailer for $46 million (£30m) in cash. Bounce Energy will give Centrica’s US subsidiary, Direct Energy, an online platform which it hopes will help grow its customer base from its current level of 5.5 million. The online retailer has more than 80,000 residential customers and […]

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 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 […]