Fired up: consumers are angry at profits
12 July 2012
Centrica, which owns British Gas, said it agreed to buy two New York-based power providers from Iberdrola USA for £71.18 million in cash to strengthen its position and increase its customer base in the US Northeast.
The British utility's North American subsidiary, Direct Energy Services, will buy Energetix and NYSEG Solutions, which operate out of Rochester and Binghamton, New York.
Iberdrola USA is a subsidiary of Iberdrola.
Direct Energy would add 245,000 customers in New York state with the acquisition, its third in the region since last year.
Shares in Centrica, which have risen over 7% since the start of the year, closed at 318.7p on the London Stock Exchange last night.
