{"id":35584,"date":"2023-09-01T14:25:36","date_gmt":"2023-09-01T13:25:36","guid":{"rendered":"https:\/\/www.ispreview.co.uk\/?p=35584"},"modified":"2023-09-01T14:29:57","modified_gmt":"2023-09-01T13:29:57","slug":"isp-and-utility-firm-shell-energy-uk-acquired-by-octopus-energy","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2023\/09\/isp-and-utility-firm-shell-energy-uk-acquired-by-octopus-energy.html","title":{"rendered":"ISP and Utility Firm Shell Energy UK Acquired by Octopus Energy"},"content":{"rendered":"<p>The Shell Petroleum Company, through its 100% owned subsidiary Impello Limited (&#8220;Shell&#8221;), has today caused no big surprises by announcing that the Octopus Energy Group has acquired its retail energy and broadband ISP business &#8211; Shell Energy (UK and Germany) &#8211; for an as yet undisclosed sum.<!--more--><\/p>\n<p>At present, Shell Energy UK is home to around 500,000 broadband and phone customers, as well as 1.3 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 has been hunting 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>Tariffs and offers will remain unchanged for all existing home energy customers, including continued access to 100% renewable power. Customer service will not be interrupted and, following regulatory approval and deal completion, both companies will ensure a seamless transfer of the businesses &#8211; and eventually brand (after a few months) &#8211; from Shell Energy to Octopus.<\/p>\n<p>As part of the deal, Shell and Octopus have also signed a memorandum of understanding (MoU) to explore a potential international partnership to bring the best possible experience to their EV charging customers, including Shell Recharge subscribers.<\/p>\n<p>Options will be explored for possible joint promotions and brand activations, alongside co-operation on out-of-home charging and other activities across the EV value chain. Shell is already a leading EV charging provider with a global charging network set to expand to around 200,000 public charging points by 2030.<\/p>\n<blockquote class=\"bq1\"><p><strong>Steve Hill, Executive Vice-President, Shell Energy, said:<\/strong><\/p>\n<p>&#8220;This agreement follows the announcement during our Capital Markets Day to divest our home energy retail business in Europe. To drive performance, discipline and simplification, we are prioritising 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.&#8221;<\/p><\/blockquote>\n<p>The transaction is expected to complete in the fourth quarter of 2023, subject to regulatory approval, although questions remain over what will now happen to Shell Energy&#8217;s telecoms base (phone and broadband). Octopus Energy could divest that base and sell it off to another ISP, which is something that previous reports have indicated is most likely to occur.<\/p>\n<p>However, it&#8217;s worth remembering that the Octopus Group are also the ultimate owner of investment firm Fern Trading, which itself owns several alternative full fibre networks and retail ISPs (e.g. Giganet, <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/cuckoo\" rel=\"nofollow\" target=\"_blank\">Cuckoo<\/a>, Jurassic Fibre, Swish Fibre and All Points Fibre etc.).<\/p>\n<p>As such, it&#8217;s not impossible that the base could find its way into <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/cuckoo\" rel=\"nofollow\" target=\"_blank\">Cuckoo<\/a>&#8217;s hands as a primary retail ISP, but that would be a tedious transfer given <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/go\/cuckoo\" rel=\"nofollow\" target=\"_blank\">Cuckoo<\/a>&#8217;s recent move to focus on <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a>-only solutions. Shell Energy&#8217;s older <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/adsl\">ADSL<\/a>\/<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttc\">FTTC<\/a>\/<a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/gfast\">G.fast<\/a> broadband and phone base would be an awkward fit (they only have a few <a href=\"https:\/\/www.ispreview.co.uk\/index.php\/link\/fttp\">FTTP<\/a> users).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Shell Petroleum Company, through its 100% owned subsidiary Impello Limited (&#8220;Shell&#8221;), has today caused no big surprises by announcing that the Octopus Energy Group has acquired its retail energy and broadband ISP business &#8211; Shell Energy (UK and Germany) &#8211; for an as yet undisclosed sum.<\/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-35584","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 v28.8 - 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