Centrica buys two New York power firms

Centrica, the owner of British Gas, yesterday spent $110m (£71m) buying two New York energy firms to boost its presence in the United States.

The power group's North American subsidiary, Direct Energy, bought Energetix and NYSEG Solutions from the Spanish energy giant Iberdrola. Together the two businesses have 245,000 customers, almost doubling Direct Energy's business in New York.

Its chief executive, Chris Weston, said: "This acquisition marks another step in the development of our North American business."