Shell agrees to buy First Utility, a leading UK energy provider

The Shell Petroleum Company Limited has signed an agreement to buy 100% of First Utility, a leading independent UK household energy and broadband provider. The deal is subject to regulatory and other approvals and is expected to complete in early 2018.

The Shell group’s energy supply, trading and marketing expertise, combined with First Utility’s experience in serving around 825,000 homes in the UK, will enable First Utility to increase its business.

For Shell, it is a chance to expanding their energy supply business from commercial and industrial customers into the residential sector.

“The supply and demand of residential energy is rapidly changing, driven by new technologies that enable householders to better manage their energy use, and the need for a low-carbon energy system,” Mark Gainsborough, Shell’s Executive Vice President of New Energies.

Shell Energy Europe Limited (SEEL), the Shell group’s European gas and power marketing and trading business, will continue to supply wholesale gas and electricity to energy retailers in the UK and Europe, including First Utility.

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