Centrica snaps up smaller UK energy supplier Nabuh
Centrica's British Gas, the UK's biggest energy supplier, has acquired smaller Sheffield-based competitor Nabuh Energy, the two companies said on March 19, without disclosing the deal's price.
Nabuh's 36,000 customers and 70 employees will join British Gas around the end of April. "Customers should be assured that nothing will change for them," Centrica said in a statement. "Their gas and electricity supplies will continue without interruption and prices and terms will remain the same."
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The latest deal follows Centrica's acquisition in September last year of Robin Hood Energy, which supplies over 110,000 residential customers and 2,600 business customers over the UK. British Gas also moved in at the end of January to supply the 50,000 households previously served by Simplicity Energy, which ceased trading after defaulting on its debts.
"This deal is part of our strategy to focus on and invest in our core markets and follows the acquisition of Robin Hood Energy's customer base last year and more recently Simplicity Energy," Centrica CEO Chris O'Shea said. "This is a really exciting time for British Gas as we seek to return the business to growth and put customer at the heart of everything we do, by offering a competitive and innovative service."