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FT: Shell enters Australia power market with $418m deal

, Senior Energy Correspondent: 22 Aug 2019

Royal Dutch Shell has entered the Australian electricity market with a $418m deal for ERM Power, an energy supplier for businesses.

The Anglo-Dutch company has ambitions to tilt its business towards gas and become a major power player in the decades to come amid a global push towards cleaner fuels.

ERM is Australia’s second-largest energy retailer by load and provides electricity to commercial entities and industry. It also generates electricity from two gas-fired power plants in Oakey, Queensland, and Neerabup, Western Australia.

Shell’s country chair Zoe Yujnovich said the deal “aligns with Shell’s global ambition to expand our integrated power business and builds on Shell Energy Australia’s existing gas marketing and trading capability.”

FULL FT ARTICLE

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