Centrica plc today announced that its North American subsidiary, Direct Energy, has acquired the customer base of Entergy Solutions Ltd within the Electricity Reliability Council of Texas (ERCOT) grid for a consideration of US$30 million (£16.85 million) in cash.
Direct Energy is acquiring more than 100,000 residential and commercial customers in the Houston and Dallas-Fort Worth areas and South Texas. The acquisition increases Direct Energy’s Texas customer base to over one million customers.
This transaction underlines Direct Energy’s on-going confidence in the Texas market, where the company has reinforced its position as the clear number three energy provider.
Sir Roy Gardner, Chief Executive of Centrica, said: "Following the acquisition earlier this year of the Paris Energy Center, which is Centrica’s third power station in Texas, today’s transaction further strengthens our commitment to this important market.”