October 15, 2018 / 9:06 AM / a month ago

Centrica subsidiary to buy U.S.-based retail electricity business

LONDON, Oct 15 (Reuters) -

* Centrica subsidiary Direct Energy Business has agreed to buy the retail electricity business of Source Power and Gas LLC, a wholly owned indirect U.S. subsidiary of Australian power company ERM Power Limited, Centrica said on Monday

* Source Power & Gas is a Sugar Land, Texas, based retail energy provider serving commercial and industrial customers.

* Centrica said the purchase is in line with its growth strategy in North America

* No financial details were disclosed

* The deal is expected to complete on Nov. 30

Reporting By Susanna Twidale

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