Shell completes UK and Germany home energy sale to Octopus
Regulatory approval has been given to transfer 1.3million customers to the renewable provider.
First announced in September, Shell Petroleum Company, through its 100% owned subsidiary Impello Limited (‘Shell’), has now concluded the sale of its domestic supply business. Both the UK-based Shell Energy Retail Limited and Germany headquartered Shell Energy Retail GmbH will cease to exist, and all accounts will be absorbed into Octopus Energy.
Following the transition, Octopus will supply a total of 6.6million households in the UK, while its German customer base with grow to almost 300,000. The company, which supplies 100% renewable power, will also transfer 500,000 Shell broadband customers to into its fold.
The two companies are taking the opportunity to deepen ties between Electroverse, Octopus’ EV chargepoint roaming service, and Shell’s Recharge Stations. Once finalised, a new agreement will see Electroverse customers benefit from special offers at Shell forecourts and Recharge EV subscriptions.
‘We are pleased to be the new home for Shell Energy Retail customers in the UK and Germany,’ said Greg Jackson, founder of the Octopus Energy Group. ‘Now even more customers can receive our five star customer service and choose from a whole heap of cheap, green tariffs, benefitting both their pockets and the energy system. Our commitment to customers is paramount, and we will deliver the Octopus promise when we welcome these new customers too.’
This is the second major transfer of customers to Octopus in recent months, with a further 1.5million being taken on following the failure of Bulb. Octopus’ own platform, Kraken, is responsible for swift migration of accounts, along with day-to-day management of customer service requests, and is said to be the key to the speed at which new accounts are created. The firm currently ranks as the UK’s best energy supplier, according to an analysis of 200 firms by Bain & Company.
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Image: Marek Piwnicki