Shell has announced it will sell its UK and Germany home energy businesses, to Octopus Energy Group

The company has struck a deal with developer Exagen to build the ‘UK’s largest’ battery

EVs will be connected with the UK’s grid through the balancing mechanism

Existing customers to pay £50 below new price cap through special rebate

Households on ‘time-of-use’ tariff will be charged more to use electricity at peak times

The company predicted the new price cap will add £60 a month to bills

The deal is expected to push the company’s valuation close to $5 billion

Partners aim to deliver green hydrogen production projects co-located with renewables

The firm has today announced the acquisition of the investment group Octopus Renewables

The move is expected to support the firm’s ambition to make the UK ‘Silicon Valley of Energy’