Tuesday 29 July 2014

Centrica to sell Canadian home services arm

The owner of British Gas has agreed to sell its home services business in Ontario, Canada for C$550 million (£300m).

Centrica’s North American subsidiary, Direct Energy, provides a range of plumbing, heating, ventilation, air conditioning and other related services and currently has nearly 1.9 million home services contracts in Ontario.

EnerCare will license Direct Energy for a 12-month transitional period after which it will rebrand the business, Centrica said.

Badar Khan, President and CEO of Direct Energy said: “With our activities in Ontario no longer forming a material part of the business, we will focus our attention on opportunities in the United States and Alberta, through a range of innovative products, including combined energy and services offerings."