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Shell Energy posts £32m loss as ‘unsustainable pricing’ draws customers away

Shell Energy posts £32m loss as ‘unsustainable pricing’ draws customers away

21 Dec / 2020: 14:04

Shell Energy has posted an almost £32 million loss for 2019, pointing to falling customer numbers as competition in the sector remains strong.

In the company’s financial results for the year ended 31 December 2019, the company’s loss before tax sits at £31,538,000, a dramatic increase from £20,994,000 the year previously.

Operating loss also grew, hitting £26,765,000 in 2019 compared to £20,302,000 in 2018 driven principally by “adverse market conditions” the company noted. No dividends were paid in 2019 compared to £5,000,000 in 2018. read more

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