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Direct Energy was founded in Toronto in 1986, as a competitive energy retailer. In 2000, the company was acquired by Centrica, the UK-based parent of British energy retailer British Gas. In 2010, Direct Energy acquired Clockwork Home Services making Direct Energy the largest energy and home services retailer in North America.
Centrica also moved into the North American energy supply market, through the acquisition of the Canada-based company Direct Energy in July 2000, for £406 million. [19] Direct Energy's operations were subsequently considerably expanded through a number of further acquisitions, including of Enbridge Services for £437 million in January 2002. [20]
Centrica Plc on Friday said it was selling its North American subsidiary Direct Energy for $3.63 billion to U.S. integrated power firm NRG Energy, clearing the way for the new head of the British ...
Centrica's different Just 40% of Centrica's operating profit came from its regulated British Gas business last year, while 45% came from its unregulated oil and gas production business, making it ...
In July 2020, NRG Energy and Centrica entered an agreement under which NRG would acquire Direct Energy for $3.625 billion in an all-cash transaction. [41] The deal was approved in January 2021, adding more than 3 million retail customers across 50 US states and 6 Canadian provinces. [42]
The Centrica boss Chris O’Shea’s pay deal was called ‘fundamentally wrong’ by campaigners, and comes after years of high energy bills across the UK. British Gas owner avoids shareholder ...
On 27 February 2013, Centrica announced that Bentley would step down from his role at British Gas, from the Centrica board on 30 June 2013, and leave the company's employment on 31 December 2013. [17] Bentley was replaced by the managing director of Direct Energy (also part of the Centrica group) Chris Weston. [18]
LONDON -- The shares of Centrica climbed 4 pence to 384 pence during early London trade this morning after the FTSE 100 member announced the purchase of a package of natural gas fields in Canada.
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