Centrica acquires Texas online electricity retailer

British energy company Centrica is buying Texas-based electricity retailer Bounce Energy for $46m (£30m) in cash plus additional working capital.

Bounce has over 80,000 residential customers, predominantly based in Texas, and has developed an online platform for marketing its products and servicing customer accounts.

Centrica’s North American subsidiary Direct Energy will be making the acquisition. Bader Khan, president and chief executive of Direct Energy, said the purchase “marks a further step in the development of our North American residential energy business".

He added: "It will provide our customers with more innovative and efficient energy options and also gives Direct Energy a leading online platform as we look to grow our North American customer base."