Shell Energy to grow 25% after taking over customers in the U.K.

Shell Energy

Shell Energy, the retail power business of the oil major company, announced it would grow 25% after taking around 255,000 customers from rival companies that defaulted in the U.K. market amid the growing prices of natural gas.

Firstly, as we reported previously, rising natural gas prices are causing great concern among the energy sector worldwide. Recently, executives at the Gastech Industry Conference argued that the situation is bad and could derive in an energy crisis.

Moreover, in recent days, several British electricity suppliers went out of business; leaving around 800,000 customers potentially facing higher bills. According to Reuters, among the suppliers that defaulted are Avro Energy, Green Supplier Limited, and also a handful of others. In fact, when combined, the U.K.’s domestic market hole is around 2,9 percent.

Consequently, OFGEM, U.K.’s energy regulator, selected alternative providers to take on the customers left in an attempt to protect customers. OFGEM said. “In recent weeks there has been an unprecedented increase in global gas prices, which is putting financial pressure on suppliers.” Adding that transferring customers to other companies would be an alternative to protect customers.

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Shell Energy committed to 100% clean energy

One of those companies selected was precisely Shell Energy. As outlined above, after the company takes over the market whole, it will grow 25%. Particularly, it will take over customers from Green Supplier Limited.

In addition, the company’s CEO, Ed Kamm said in a statement. “Shell Energy Retail is a well-capitalized supplier with long term ambitions to help British households get to net-zero emissions.” Adding that the company was ready to take on the market hole.

Furthermore, the sudden growth will help the company to grow into its sustainability plans further. In fact, the company is focused on delivering 100% clean electricity, as well as gas and smart home technology.

Finally, the brand also serves large-scale businesses around the world with a leading range of reliable and innovative energy solutions. As for the electricity supply, the company has also a particular scheme for tariffs. It is called Go Further tariff, which offsets the 100% of CO2 emissions from the energy supply.

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