Shell Energy has acquired renewable energy supplier Green Star Energy, taking its rolls to over one million accounts.
Shell Energy will purchase Hudson Energy Supply UK, the British arm of Canada’s Just Energy Group. Hudson operates under the Green Star Energy brand in the UK, supplying 200,000 domestic properties and 2,000 commercial premises.
The £10.5 million deal, subject to regulatory approval, is expected to be completed by the end of the year.
Green Star customers won’t see any changes to their current tariff terms and conditions.
With the acquisition of Green Star’s accounts, Shell Energy will become of one several competitor energy companies, including Bulb and Octopus to reach over one million accounts, as the landscape of the UK’s energy market shifts away from the Big Six.
Colin Crooks, Shell Energy Retail’s chief executive, said: "As part of our ambition to build a significant UK retail energy business, this deal will take the number of Shell Energy Retail's UK residential customers to just under one million and adds to Shell's presence in the B2B (business-to-business) market.”
Paul Hellings, chief executive of Hudson Energy, said: "Shell Energy Retail is the perfect partner for our customers. Our priority is to ensure they continue to receive a great deal and great service. Our customers' existing tariff terms will not change; they will continue to benefit from 100% renewable power at no extra cost, their Perks Rewards, and investment in reforestation and carbon offsetting initiatives that help to set us apart in the UK energy market.”
Shell Energy was known as First Utility before it was acquired by Royal Dutch Shell and rebranded earlier this year. Shell Energy is the oil and gas giant’s first venture into the UK’s competitive retail energy market and seen as part of its play to become the world’s largest electricity supplier by 2030—and to pivot to renewables.
As part of the rebranding of First Utility, Shell began supplying its customers with 100% renewable electricity. The acquisition of renewable supplier Green Star Energy signals its further interest in the renewables space in the UK.
But Shell’s green credentials don’t run deep. This week the Guardian revealed that Shell was one of twenty companies which are collectively responsible for 35% of all global carbon emissions.
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