Centrica’s US arm snaps up Vectren

Direct Energy, the American subsidiary of Scottish Gas-owner Centrica, yesterday bought Indiana-based natural gas retailer Vectren Source for $39 million (£25m).

Vectren has more than 146,000 customers, adding to Direct Energy’s existing 210,000 clients. About 95 per cent of Vectren’s customers are in Ohio, with the remainder in New York and Indiana.

Chris Weston, Direct Energy president and chief executive, said: “Competitive retail markets in the US north-east provide us with valuable opportunities to grow our business.”