Octopus Energy Group has completed the acquisition of Shell Energy Retail in the UK and Germany from Impello Limited, (Shell) a subsidiary of Shell Petroleum Company Limited.
The announcement was made last Friday (1 December) and the Shell Energy Retail’s company name was formally changed by resolution on 4 December to Octopus Energy Operations 2 Limited.
1.3 million domestic energy customers from the UK and Germany will now be under Octopus’ care as of 1 December.
The deal was initially signed in September, and is anticipated to bring Octopus’ UK household customers to over 6.5 million and almost 300,000 in Germany.
Part of the deal also included a pending agreement that will grant Electroverse customers – Octopus’ electric vehicle (EV) roaming service – new offers at Shell forecourts and Shell Recharge EV subscriptions.
Commenting on the acquisition, Greg Jackson, founder of Octopus, 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.”
Earlier this year, Octopus also completed the acquisition of Bulb, transferring 1.5 million customers from the failed energy supplier.