Shell's Home Energy Retail Unit to Exit UK, Netherlands and Germany
06 Junho 2023 - 7:55AM
Dow Jones News
By Joe Hoppe
Shell said Tuesday that its home energy retail unit will pull
out of the U.K., Netherlands and Germany, with a sales process
already underway.
The energy major said it intends to reach an agreement with a
potential buyer in the coming months, with completion subject to
usual regulatory and other approvals.
Shell said nothing will change for its customers during the
sales process.
"We are committed to supporting both customers and staff and
protecting customer interests during this period, and to ensuring a
seamless transfer to a buyer capable of delivering on its
obligations, including our intent to maximize employment," the
company said.
Neither the business-to-business wholesale and
small-to-medium-enterprise customer supply businesses under the
Shell Energy brand, nor the home energy retail businesses outside
Europe are covered by the potential divestment.
Shell decided to exit the markets after concluding a strategic
review, begun in late January. It said then the review is part of
its 'power progress' strategy which includes exploring options to
address performance in tough market conditions and maximize the
value of its portfolio.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 06, 2023 06:40 ET (10:40 GMT)
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