Centrica has acquired UK-based energy supplier Nabuh Energy as it looks to expand British Gas brand.
The 36,000 customers and around 70 employees of the Sheffield-based firm will become part of Centrica’s British Gas supplier around the end of April, with the transaction following on from Centrica acquiring Robin Hood Energy’s customer base last year and more recently Simplicity Energy.
Both Robin Hood Energy and Nabuh Energy have struggled with Renewable Obligations payments, with the two being issued final orders by Ofgem in October 2020.
Chris O’Shea, group chief executive of Centrica, said this latest deal forms part of the company’s strategy to focus on and invest in its core markets and comes as it seeks “to return [British Gas] to growth”.
This follows its latest full year results, where Centrica saw its adjusted operating profit fall 31%, a record low for the company.
It comes off of the back of a turbulent period for the company, with its 2018 financial results sending its share price tumbling to a 20 year low.