Centrical Plc is looking at a £1 billion-plus acquisition spree in North America in 2010. Centrica is focusing on expansion in the US and Canada. The company will start the year with a £1.5 billion war chest and a variety of acquisition targets, including exploration companies in western Canada and power stations in Texas.

Centrica Plc expects to formally commence a competitive process for the sale of Oxxio BV in 2010, with sources familiar with talks saying several parties have expressed interest. A Centrica spokesman confirmed the sale but refused to comment on any bilateral talks that the company has held. "No formal sale process is expected until after Christmas, in the new year," the spokesman said. Several sources familiar with talks said Centrica has been talking to parties interested in Oxxio, since the summer. Some of the discussions were based on asset swaps, they said. DONG Energy A/S was eyeing at Oxxio but will not be making an offer, two people familiar with the matter said. Other companies interested in the sale include Electrabel S.A., Eni SpA and E.ON AG, sources said. Officials at DONG, Eni and E.ON declined to comment while an Electrabel spokeswoman did not respond to a request for comment. Also interested in the sale of Oxxio is Nederlandse Energie Maatschappij BV, which would be looking to combine its 400,000-strong customer base with Oxxio's 800,000 customers. Nederlandse Energie Maatschappij has engaged Sequoia to advise on strategic options, which include teaming up with a utility or private equity firm to bid for Oxxio, or launching an IPO for up to €200 million, according to a person close to the firm. A Nederlandse Energie Maatschappij spokesman refused to comment. Centrica could fetch up to €300 per customer for Oxxio, valuing it at €240 million, but that would depend on a buyer taking a positive view on the loyalty of its customers and its exposure in the wholesale market, sources said. Centrica It is currently in the process of selling Société de Production d'Electricité (SPE) to Electricité de France (EDF) and has said it is looking at divesting other downstream business interests, including Centrica Energia. Deutsche Bank AG is advising Centrica on the sale of Oxxio, sources said.

Centrica plc announced that its 270 megawatt Lincs offshore wind project has received final investment approval and construction is expected to begin in 2010. Investment in the project is expected to total around $1.19 billion and the wind farm should start generating power towards the end of 2012.