The Competition and Consumer Protection Commission has approved energy company Flogas Ireland's deal to buy Naturgy Ireland from its Spanish parent company, Naturgy Energy Group SA.

Naturgy Ireland supplies renewable electricity, natural gas, biogas and energy services to large energy users in Ireland, Northern Ireland and the UK.

Naturgy Ireland has about a 16.8% market share of the large industrial and commercial natural gas market here.

It also supplies biomethane, renewable electricity and compressed natural gas (CNG).

Flogas, a subsidiary of DCC, sells electricity, natural gas and LPG across the island of Ireland and supplies over 175,000 residential and mainly SME business customers.

Paul Kenny, general manager of Flogas Energy, said the deal for Naturgy Ireland is complementary to its existing business.