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Oil giant Shell to buy ‘big six’ energy rival First Utility

Ben van Beurden, chief executive of Royal Dutch Shell, has said he intended to increase the company’s investments in new-energy businesses toward $2 billion a year. Credit Adrian Dennis/Agence France-Presse — Getty Images

Oil giant Shell to buy ‘big six’ energy rival First Utility: The Telegraph

Shell enters UK household energy market: BBC News

Shell buys UK independent energy supplier First Utility: Financial Times

Shell’s £500m deal to sell homes gas and electricity: Oil major buys Britain’s biggest independent power supplier: This is Money

Extract: The company is paying an undisclosed sum for the UK’s seventh-largest supplier, which has around 800,000 customers and is thought to be worth in the region of £500million. It sets up a major battle between Shell and established major electricity suppliers such as British Gas…

Watch out Big Six: Shell snaps up household energy challenger First Utility: CITY AM

Extract: Shell Energy Europe Limited (SEEL), Shell’s European gas and power marketing and trading business, will continue to supply wholesale gas and electricity to energy retailers in the UK and Europe, including First Utility, and First Utility will operate as a stand-alone entity and subsidiary of Shell within its new energies division, the companies said.

Shell, Seeking to Curb Its Carbon Footprint, Buys Electricity Provider: The New York Times

Extract: The acquisition of First Utility, which has about 825,000 residential customers, was an indication that Ben van Beurden, Shell’s chief executive, was wasting little time in acting on a commitment he made last month. Mr. van Beurden had said he aimed to ramp up investment in new-energy businesses toward $2 billion annually, in an effort to reduce the company’s carbon emissions. The purchase price was not publicly disclosed.

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