Following regulatory approval, Shell Petroleum Company Ltd, through its 100% owned subsidiary Impello Limited, has completed the sale of its home energy businesses, Shell Energy Retail Limited in the UK and Shell Energy Retail GmbH (SERG) in Germany, to Octopus Energy Group.
The agreement was announced in September and comprises the sale of the shares in the respective businesses which have approximately two million customers.
The businesses which will eventually rebrand to Octopus Energy, which describes itself as a ’leading energy retail company which provides innovative energy solutions to residential customers and operates in 17 countries’.
The Shell Energy brand remains with Shell and will continue to focus on growing B2B supply.
