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Centrica to splash out [pounds sterling]1.7bn in fire sales.

THE British gas and electricity utility Centrica is preparing to spend up to pound sterling1.7bn (E2.7bn) on distressed UK and US power generation assets, according to analysts and banking sources.

The company is concerned about power generators credit risks and wants to buy more power stations as a hedge against its supply operations.

Centrica has steadily been increasing its US customer base to 4.6m to meet its target of capturing 10m customers by the end of this year; it has 5.6m UK customers.

Only a fifth of the electricity it currently suppli

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