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

LONDON, Oct 15 (Reuters) -

• Centrica CNA.L 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 (EPW) , 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