Shell has competed its acquisition of First Utility and immediately placed one of its VPs Colin Crooks in charge.
Shell confirmed this morning that it had completed the acquisition of Impello Limited and its subsidiaries, which trades in the UK under the name First Utility.
Shell first announced it had struck a deal to acquire First Utility in December.
First Utility has become a wholly-owned subsidiary of Shell within its new energies unit, and Shell has not dallied in expressing its new-found control of the firm.
Colin Crooks, formerly vice president of Shell’s downstream strategy and portfolio, has taken over as chief executive at First Utility from today.
Crooks will be responsible for overseeing Shell’s entry into the UK’s notoriously competitive domestic energy supply market, and he said First Utility will enable the firm to provide more choice and value to consumers.
“The rapidly-evolving retail energy market is a natural place for Shell to expand its business, building on the trusted relationships we’ve built with our millions of forecourt customers. We aim to grow our customer base by offering an attractive range of products and a real alternative to other companies in the sector,” he said.
Shell’s new energies division has been the subject of thriving activity in recent months, launching a corporate energy supplier in August last year before announcing a string of business deals in the UK electric vehicle charging sector.
