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Centrica plc is pleased to announce the completion of the sale of its North American energy supply, services and trading business, Direct Energy, to NRG Energy Inc. for $3.625bn.

Chris O’Shea, Centrica Group Chief Executive, said:

“Direct Energy has been an important part of Centrica for over 20 years, and I wish the business and its great team all the best for the future. This sale is an important step in the turnaround of Centrica, allowing us to materially strengthen our balance sheet and become a more focused energy services and solutions company – putting customers at the heart of everything we do and helping them transition to a lower carbon future.”

Centrica plans to release a Trading Update on 14 January 2021 and its 2020 Preliminary Results are due to be released on 25 February 2021.