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Ovo Energy May Acquire Shell Energy’s UK Customer Base

Wednesday, Mar 29th, 2023 (2:12 pm) - Score 2,440
Shell Energy Broadband

Utility provider Ovo Energy, which only recently sold off SSE’s phone and broadband customers to ISP TalkTalk (here), is reportedly now looking at a deal to acquire Shell’s domestic UK gas, electricity and broadband business (Shell Energy) – home to c. 1.4m energy and 500,000 internet customers.

The move is not strictly all that surprising because we reported, back in January 2023, that Shell Energy could be facing an uncertain future after their parent company (Shell) launched a “strategic review” of the business due to “tough market conditions” (here). One of the options on the table reportedly included an exit from the sector.

According to Sky News and its various industry sources, Ovo could be preparing to place a bid as soon as this afternoon in order to meet an informal deadline set by Lazard, which is said to be overseeing the process on Shell’s behalf. But Centrica, the owner of British Gas, is also said to be sniffing around the supplier. Octopus Energy may also have an interest.

However, given Ovo’s previous strategy, it seems highly likely that any acquisition might ultimately end up with Shell Energy’s broadband base being sold off again in the same way as they did with SSE last year. As usual, nobody is willing to comment on the market speculation.

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Mark-Jackson
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on X (Twitter), Mastodon, Facebook and .
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Comments
6 Responses
  1. Avatar photo Richard says:

    As A Shell energy customer, I’m not sure if this is good or bad news.

    1. Avatar photo Andrew G says:

      Looking at Ofcom complaints data for Shell Energy, I can’t see how it can be bad news.

    2. Avatar photo Matt says:

      OVO Should probably finish moving SSE Customers (energy) over before they touch Shell.

      SSE are shockingly bad. OVO Seem to have a much better reviews but SSE is such a mess of incompetence they’re going to have their work cut out.

  2. Avatar photo Ad47uk says:

    My brother uses Shell broadband, he is out of contract now, but I said to wait until the price rises and then change, It seems his contract ending came at a good time. If I was him, I would go for now broadband, it is cheap and will certainly be fine for what he wants.

  3. Avatar photo Silver Stacker says:

    I forgot who Shell broadband used to be, can someone remind me?
    They bought first utility if i remember rightly, but were they the broadband arm too? They basically bought their way in by acquisition right, they didn’t start an ISP/telco.

    1. Avatar photo Matt says:

      FU is correct. When Shell place a migration, First Utility is the RID they use.

      All on Talk Talk’s network.

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