Uswitch comments on Octopus Energy’s acquisition of Shell Energy
Natalie Mathie, energy expert at Uswitch.com, comments: “We’ve known that Shell Energy has been planning to exit the UK retail energy market for a while, so it will be good for customers to have more certainty about what might happen next.
“This move will grow Octopus Energy’s UK customer numbers to nearly 6.5 million.
“Despite today’s announcement, it could take some time until the deal is approved and completed, although Shell Energy believes it could happen later this year.
“Until any takeover is done and dusted, the business will operate as normal. Customers can be reassured that whatever happens, their credit balances will be protected and no action is required from them.
“Shell Energy's decision to exit the market is disappointing, as it has been a well-backed challenger to the larger energy suppliers.
“It is important that there is strong competition between firms in the longer term, so suppliers cannot rest on their laurels when it comes to service quality and price.”
ENDS
Source: https://octopus.energy/press/ octopus-energy-agrees- purchase-of-shell-energy-uk- and-germany/
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