Octopus Energy has agreed to buy Shell’s electricity and gas provider on Friday and has gained 2 million new customers.
Octopus has gained half a million customers who receive their broadband from Shell in the UK and Germany and a further 1.4 million new energy customers.
The energy giant will become the second largest energy supplier in the UK and serving just under 6.5 million customers, and British Gas has a little more than one million.
Chief executive Greg Jackson said: “Following a stringent process, we are pleased to be acquiring Shell Energy Retail in the UK and Germany.
“Octopus has proven that it delivers game-changing service whilst innovating and investing relentlessly towards a cheaper cleaner energy system.
“Our commitment to customers is paramount and we will do whatever it takes to deliver the Octopus promise when we welcome these new customers too.”
Steve Hill, executive vice-president at Shell Energy, said: “This agreement follows the announcement during our Capital Markets Day to divest our home energy retail business in Europe.”
“To drive performance, discipline and simplification, we are prioritising countries, projects, and routes to market where we can deliver the most value.
“We will work closely with Octopus to ensure a seamless transition and continued high standards of customer service.”
