Centrica buys two New York companies from Iberdrola

Scottish Gas owner Centrica has bought a pair of New York-based energy retailers from ScottishPower parent group Iberdrola for £71 million.

Direct Energy, Centrica’s North American division, will continue to run the two businesses under the Energetix and NYSEG brands, which it said serve 245,000 homes and small businesses in New York and Pennsylvania.

Centrica already has about one million residential customers in the north east of the United States.

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Direct Energy president and chief executive Chris Weston said: “This acquisition marks another step in the development of our North American business and supports Direct Energy’s strategy to grow and add scale to its US north-east downstream power and gas position, particularly in the New York market.”

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