Outbids

Almost four months after its takeover bid of NewPower Holdings Inc. was scuttled due to unfavorable court rulings, Centrica plc announced last week that its subsidiary, Energy America LLC., has entered into an agreement to acquire the Ohio and Pennsylvania natural gas customers and other specified assets of NewPower for an estimated total consideration of $21.85 million. The United States Bankruptcy Court for the Northern District of Georgia accepted Centrica’s offer over Vectren Corp.’s late June offering of $16.8 million for the company’s Ohio gas customers (see NGI, July 8).