The Telegraph UK
written by Staff
Thursday July 12, 2012
The deal to acquire Energetix and NYSEG will be done through the company's North American subsidiary, Direct Energy Sevices.
Centrica said the purchase would strengthen its position in the US Northeast, adding 245,000 residential and small business customers.
Energetix and NYSEG Solutions operate out of Rochester and Binghamton, New York.
Shares in Centrica, which have risen over 7pc since the start of the year, were flat in early trading on Thursday.
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The Telegraph UK
written by Rowena Mason
September 23, 2011
It agreed to purchase First Choice Power from rival PNM Resources in cash, plus additional working capital, as it looks to consolidate its customer base in the US.
Centrica's Direct Energy, which has about 2.9m residential customers, said the acquisition would take the total number of accounts in Texas to more than 830,000.
The American electricity market is much more fragmented than it is in the UK, with hundreds of small suppliers who are local to certain states.
Data compiled by Bloomberg shows that there have been 130 mergers and acquisitions among US electricity companies this year, amounting to about $67bn.
"This acquisition is another important step towards growing scale and leadership in our North American business. Its addition to the Direct Energy family will significantly enlarge our business in one of the key US deregulated residential markets," said Chris Weston, chief executive of Direct Energy.
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