EU clears Centrica takeover of energy supplier element of Bord Gais

The EU’s executive ruled that Centrica’s expansion in Ireland did not pose any problems to competition in the energy supply market and that Bord Gais’ UK business was not large enough to give Centrica any competitive advantage there.

“The Commission … concluded that the transaction would not raise competition concerns,” it said in a statement on Monday.

The deal includes the takeover of Bord Gais’ electricity and gas supply business, Ireland’s largest, and a 445-megawatt gas-fired power plant.

It is expected to close in the coming weeks. Source: The Irish Times