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Direct Energy to Acquire Hess Energy Marketing

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I am happy to announce that Direct Energy will acquire Hess Energy Marketing, transforming the company into the leading gas retailer and second-largest power supplier to non-residential customers in the Eastern United States. This is an exciting step forward for Direct Energy Business.

Hess Energy Marketing will bring its 23,600 non-residential accounts to Direct Energy, which will play a critical role in our ongoing efforts to grow our commercial and industrial business. Also, the addition of their wholesale operations in the Northeast U.S. markets will double the size of Direct Energy’s supply, making Direct Energy the second largest business power supplier in competitive markets.

The acquisition will give Direct Energy Business the opportunity to provide a full suite of energy and energy solutions to our customers across all of our markets, especially the Eastern United States. The acquisition of Hess’ energy marketing business will help accelerate our development of energy solutions such as demand response, energy efficiency, and clean fuel solutions.

This acquisition and the latest deal for Bounce Energy directly align with our parent company, Centrica plc’s strategic growth plan for Direct Energy. I am proud to be a part of this acquisition plan, and look forward to Direct Energy’s continued North American growth.

Posted: July 30, 2013