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Shell, Savior of the Energy World, Graciously Hands Over Its 1.4 Million Customers to Octopus Energy

Posted by John Donovan 1 Sept 2023

After years of trying so hard to save the world one fossil fuel at a time, Shell has decided to take a break. Yes, the philanthropic oil tycoon is selling its home energy business in the U.K. and Germany to Octopus Energy for an undisclosed sum. What’s the reason for the secrecy? 

Shell proclaimed that it’s expecting this saintly transaction to conclude in the fourth quarter of the year, right after they get the nod from the regulators. The company had already announced back in June that it was planning to pull its home energy retail unit out of the U.K., Netherlands, and Germany. Finally, after powering 6.5 million homes in Britain with their incredible insight into energy supply, Octopus Energy will take up Shell’s philanthropic mantle.

The deal, a meeting of two great energy titans, will include 500,000 broadband customers, because who wouldn’t want to get their broadband from an oil company? Shell Energy Retail Limited in the UK and Shell Energy Retail GmbH in Germany have been gallantly providing domestic gas, power, and broadband services under the Shell Energy brand, because when you think broadband, you naturally think Shell.

The unloading of customers is “part of a deal in which the two companies explore a partnership on EV charging,” Shell said, a move which no doubt aligns with their relentless focus on environmental preservation. Returns in the British energy retail sector have been under pressure recently, but no worries. Shell’s still got its main gig: oil and gas.

Octopus Energy will thus expand its customer base in Germany to almost 300,000. Octopus, which is the only Which?-recommended energy supplier in the UK, had already added a hefty 1.5 million customers last year. Greg Jackson, the chief executive of Octopus, said, “Our commitment to customers is paramount and we will do whatever it takes to deliver the Octopus promise when we welcome these new customers too.”

Steve Hill, executive vice president at Shell Energy, eloquently stated, “To drive performance, discipline and simplification, we are prioritising countries, projects, and routes to market where we can deliver the most value.” That’s a fancy way of saying they’re leaving the business of powering your home to others while they stick to what they know best: fossil fuels and fabulous profits.

So fear not, dear customers of Shell. You’ll be transferred to Octopus Energy after all regulatory approvals come through, and you’ll be contacted at that time, the company assures. You’re just a number in a large spreadsheet anyway.

Shell and any other party mentioned are invited to point out for correction any factual inaccuracies.

The still live website that hastened Shell’s departure?

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