Shell Energy has announced plans to buy UK company Green Star Energy in a £10.5 million (€11.6 million) deal. Under the agreement, Shell Energy will acquire Hudson Energy Supply UK, which supplies 200,000 homes in the UK through the Green Star Energy brand, as well as 2,000 commercial properties.
Shell Energy is one of the biggest brands outside of the ‘Big Six’ - British Gas, EDF Energy, E.ON, Npower, Scottish Power and SSE – with around 780,000 customers. The company, formerly known as First Utility, rebranded in March 2019 and sources its renewable electricity through wind farms, solar plants and biomass.
According to a report by Money Saving Expert, the deal is expected to be completed by the end of 2019. Both firms will operate independently until the transaction is finalised. Shell Energy Retail chief executive Colin Crooks said: “As part of our ambition to build a significant UK retail energy business, this deal will take the number of Shell Energy Retail’s UK residential customers to just under one million and adds to Shell’s presence in the B2B market.
“Green Star Energy’s customers will enjoy continued security of supply with no change to their current tariff terms and conditions after completion.”