Octopus completes purchase of Shell Energy

Octopus will initiate the migration process for 1.3 million customers

Octopus Energy Group has finalised the acquisition of Shell Energy Retail in the UK and Germany, marking the beginning of the transition for 1.3 million home energy customers.

The move, set to conclude by mid-2024, will expand Octopus’s customer base significantly.

Octopus’ customer base will reach 6.6 million households in the UK, encompassing more than 11 million meter points.

The supplier’s presence in Germany will expand to nearly 300,000 customers.

Customers are assured of a smooth transition with credit balances and direct debits automatically transferred.

As part of the deal, Octopus plans to deepen collaboration between its electric vehicle charge point service Electroverse and Shell Recharge stations.

Greg Jackson, Founder of Octopus Energy Group, said: “We are pleased to be the new home for Shell Energy Retail customers in the UK and Germany.

“Now even more customers can receive our five-star customer service and choose from a whole heap of cheap, green tariffs, benefitting both their pockets and the energy system. Our commitment to customers is paramount, and we will deliver the Octopus promise when we welcome these new customers too.”

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