{"id":35530,"date":"2023-08-25T13:24:57","date_gmt":"2023-08-25T12:24:57","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=35530"},"modified":"2023-08-25T13:25:31","modified_gmt":"2023-08-25T12:25:31","slug":"octopus-energy-now-front-runner-to-gobble-shell-energy-uk","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2023\/08\/octopus-energy-now-front-runner-to-gobble-shell-energy-uk.html","title":{"rendered":"Octopus Energy Now Front Runner to Gobble Shell Energy UK"},"content":{"rendered":"<p>News reports are this afternoon claiming that Octopus Energy is now the frontrunner to acquire UK retail energy and broadband ISP <a class=\"shortlink shortlink-6\" title=\"shell energy\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/shellenergy\" target=\"_blank\" rel=\"nofollow noopener\">Shell Energy<\/a> from its parent group, although they haven&#8217;t yet entered formal exclusivity and that means rival bids (e.g. from Ovo Energy) could still upset an agreement.<!--more--><\/p>\n<p>At present, Shell Energy UK is home to around 500,000 broadband and phone customers, as well as 1.4 million energy users. Some 2,000 UK people also work for the division. But the retail provider has faced plenty of challenges over the past few years (e.g. they lost almost \u00a3220m across 2020 and 2021), not unlike other energy providers, and thus Shell have been looking for a way out (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2023\/06\/shell-puts-for-sale-sign-over-uk-broadband-isp-shell-energy.html\">here<\/a>).<\/p>\n<p>According to <a href=\"https:\/\/news.sky.com\/story\/octopus-energy-is-favourite-to-wrap-tentacles-around-shell-customers-12947163\" target=\"_blank\" rel=\"noopener\">Sky News<\/a>, Shell is looking to sign a sale agreement sometime this autumn, although it&#8217;s widely predicted that the new owner &#8211; whomever it ends up being &#8211; may well sell off (divest) Shell Energy&#8217;s telecoms (broadband and phone) base in the process.<\/p>\n<p>Something similar happened when Ovo acquired SSE last year and then later sold their retail broadband base on to <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/tt\" rel=\"nofollow\" target=\"_blank\">TalkTalk<\/a> (<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/2022\/08\/ovo-sells-uk-sse-phone-and-broadband-customers-to-talktalk.html\">here<\/a>). But Shell Energy is a much larger player and <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/tt\" rel=\"nofollow\" target=\"_blank\">TalkTalk<\/a>, which is wrestling with its own debt problems, may struggle to find the cash to have a punt. But <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/vodafoneuk\" rel=\"nofollow\" target=\"_blank\">Vodafone<\/a> could be another potential suitor at this scale, as could <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/bskyb\" rel=\"nofollow\" target=\"_blank\">Sky Broadband<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News reports are this afternoon claiming that Octopus Energy is now the frontrunner to acquire UK retail energy and broadband ISP Shell Energy from its parent group, although they haven&#8217;t yet entered formal exclusivity and that means rival bids (e.g. from Ovo Energy) could still upset an agreement.<\/p>\n","protected":false},"author":1,"featured_media":23824,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[472],"class_list":["post-35530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk_isp_news","tag-business"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - 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