Posted by John Donovan 1 Sept 2023
After years of trying so hard to save the world one fossil fuel at a time, Shell has decided to take a break. Yes, the philanthropic oil tycoon is selling its home energy business in the U.K. and Germany to Octopus Energy for an undisclosed sum. What’s the reason for the secrecy?
Shell proclaimed that it’s expecting this saintly transaction to conclude in the fourth quarter of the year, right after they get the nod from the regulators. The company had already announced back in June that it was planning to pull its home energy retail unit out of the U.K., Netherlands, and Germany. Finally, after powering 6.5 million homes in Britain with their incredible insight into energy supply, Octopus Energy will take up Shell’s philanthropic mantle.