The move comes as the Danish energy giant works to shrink its downstream operations and focus on building, owning and operating renewable generation assets – it involves the move of around 3,800 natural gas customers and 2,200 power customers, making up a contracted volume of 28TWh.
Following the transaction, which is expected to close during winter 2020/21, Ørsted will maintain a number of strategic long-term partners and customers, to which it supplies risk management products.
Ashley Phillips, Managing Director of Ørsted Sales UK, said; “We’re pleased to have signed this agreement and that Ørsted has found a new home for our B2B natural gas and power customers in the UK. The divestment is in line with Ørsted’s strategic plan, refocusing on key activities for the group in the future.”
Dave Cranfield, General Manager of Total Gas & Power, added: “We are delighted to have signed this agreement with Ørsted. It demonstrates our commitment to UK energy customers and the British energy market.
“We believe that by continuing to develop our product range as well as offer excellent service, we are well placed to supply all customers – large and small – with their current and future energy needs.”