Company To Acquire Centrica's U.S. Demand Response Business

CPower Energy Management ("CPower") announced it has entered into a definitive agreement to acquire the U.S. demand response division of Centrica Business Solutions, LLC ("Centrica").

Centrica Business Solutions is an integrated energy solutions company that provides commercial and industrial load management with customers in PJM, ISO-NE, NYISO, and ERCOT.

"The acquisition will position CPower as the U.S. leader in providing grid flexibility and reliability through customer-powered distributed energy resources (DER), with nearly 6.3 GW capacity at more than 17,000 sites available to be dispatched to the grid when it's needed most," CPower said

"As this acquisition expands our reach across PJM, New England, New York and ERCOT, our current customers will benefit from being aggregated in the industry's largest portfolio, with access to the widest array of grid service solutions to help enable the energy transition," said John Horton, President and CEO, CPower.

CPower helps the power grid and more than 2,000 DER owner customers across the U.S. to reduce power during critical periods when the grid is stressed. The company also recently announced a new partnership to aggregate residential smart thermostats.

The transaction is expected to close in the third quarter of 2022, subject to regulatory approval and customary closing conditions.

"Centrica Business Solutions will continue to focus on supporting business customers through growth of its core sustainable energy services business, enabling them to balance the demands of sustainability and cost management through energy services," the companies said