Shell Sells Retail Energy Businesses In The UK And Germany

Shell has agreed to sell its retail home energy businesses in the UK and Germany to Octopus Energy Group, the UK-based supermajor said on Friday. Shell will be selling Shell Energy Retail Limited (SERL) in the UK and Shell Energy Retail GmbH (SERG) in Germany, under a broader agreement with Octopus Energy to explore a potential international partnership in EV charging.

The sale has an effective date of September 1, 2023, and is expected to complete in the fourth quarter of 2023, subject to regulatory approval. Financial details were not disclosed,…