The Newest Name In The U.K. Power Sector Is … Shell

Shell has begun selling electricity to customers in the UK using its own brand.

The firm bought existing service provider First Utility a little more than a year ago. The oil majors have not been shy to talk about getting involved in the power sector. Some have gone further than others, however. Shell’s position is to consider electricity as the fourth pillar of its business alongside oil, gas and chemicals.

As of today, First Utility’s brand has been replaced with Shell’s. The company was quick off the mark to signal the new direction of the business switching all of its 700,000 residential customers to 100% renewable electricity.

Since the British electricity sector was privatized it has been dominated by the so-called “Big Six” companies but competitors have begun to gather momentum and find their own niches. Offering renewable energy is one such differentiator. Inevitably, the market leaders have begun to follow suit.

“We are building on the disruptive nature of First Utility to give customers something better. We know that renewable electricity is important to them and we are delivering that, while ensuring good value and rewarding loyalty,” said Colin Crooks, CEO, Shell Energy Retail.

Source: forbes