Shell to Sell Home Energy Business in UK, Germany to Octopus Energy
01 Setembro 2023 - 08:14AM
Dow Jones News
By Ian Walker
Shell is selling its home energy business in U.K. and Germany to
Octopus Energy for an undisclosed sum.
The energy giant said Friday that it expects the sale to
complete in the fourth quarter of the year, subject to regulatory
approval.
It said in June that its home energy retail unit would pull out
of the U.K., Netherlands and Germany, with a sales process already
underway.
"To drive performance, discipline and simplification, we are
prioritizing countries, projects, and routes to market where we can
deliver the most value. We will work closely with Octopus to ensure
a seamless transition and continued high standards of customer
service," Shell Energy Executive Vice President Steve Hill
said.
As part of the deal with Octopus, the companies have also signed
a memorandum of understanding to explore a potential international
electronic-vehicle charging partnership to include joint promotions
and brand activations alongside out-of-home charging and other
activities across the EV value chain.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
September 01, 2023 06:59 ET (10:59 GMT)
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