Centrica PLC (LON:CNA) has boosted its presence in the power management business with the acquisition of Belgium-based software firm Restore for €70mln (£62mln).
REstore manages 1.7GW of peak load for more than 150 of Europe’s largest energy users including chemical, steel and food manufacturers.
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Demand response aggregation (DRA) will become a core part of Centrica’s business as a result of the acquisition, said the British Gas owner.
The (DRA) process involves large energy consumers shifting usage away from peak times to periods where rates are lower.
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REstore brings key capabilities in asset optimisation and was complementary to other recent acqusitions: Panoramic Power, Neas Energy and ENER-G Cogen said Jorge Pikunic, Centrica Distributed Energy & Power’s MD.
The acquisition would help customers take control of their energy and gain competitive advantage, he added.