Just over a year after buying First Utility, Royal Dutch Shell has rebranded the British household energy supplier and is switching all its customers to renewable electricity as the oil and gas giant seeks to expand its low-carbon business. The move by the Anglo-Dutch company poses a challenge for Britain’s long-standing retail power suppliers whose profit margins have come under growing pressure due to intense competition and the regulator’s price cap. First Utility, which has around 710,000 energy customers, has been rebranded as Shell Energy and joins a handful of energy brands such as Bulb and Octopus Energy that offer all customers 100 percent renewable electricity.
Reuters 24th March 2019 read more »
Times 25th March 2019 read more »
Telegraph 24th March 2019 read more »
On Sunday, Royal Dutch Shell, one of the world’s largest oil and gas companies, announced that its First Utility retail power business would be rebranded as Shell Energy, with 700,000 households switched to renewable power. Customers will be offered not only cleaner electricity but discounts on fast-charging for their electric vehicles as well as broadband and smart-home technologies. Shell has floated the idea that by the 2030s it could be the largest power company in the world. Meanwhile, Enel, the Italian electricity group that by some measures holds that title today, last week highlighted the rapid growth in its network of electric car-charging points. By the end of 2018 it had installed 49,000 worldwide, up 63 per cent during the year, chief executive Francesco Starace said as he announced annual earnings. The competition to provide the best offerings is given an additional edge by a clash of cultures. People who work in the high-stakes world of oil and gas have traditionally looked down on the humdrum plodders of the electricity sector, described by one gas executive as “useless”. The next decade will reveal whether that confidence is justified. On the oil side of the energy industry, pressure from investors is forcing companies to look at ways to curb greenhouse gas emissions, while the rise of electric vehicles is threatening to put a brake on the growth in demand for crude. Vitol, the world’s largest independent energy trader, said last Tuesday it expected oil demand to peak within 15 years, and intended to focus on cleaner fuels and power trading in the coming years. Total, the French oil and gas group, has a similar message. “We really think as an energy company,” Philippe Sauquet, its president of gas, renewables and power, said at the recent CERAWeek conference in Houston.
FT 25th March 2019 read more »
Octopus Energy has launched a dedicated green, flexible electricity supply service for transport operators looking to ensure their electric vehicle (EV) fleets are charged up during the cheapest times of the day using 100 per cent renewable energy. The firm claims the ‘Electric Juice’ tariff, a collaboration between its business energy and electric vehicles arms, is the first of its kind in the UK, and comes after consultation with more than 20 EV charge points companies last year. It is based on the company’s Agile Octopus time-of-use tariff, which launched last year to enable customers to take advantage of half-hourly changes in the price of electricity, with the price higher during times of peak demand for electricity, and cheapest when demand is low. Octopus Energy has estimated that tariffs which vary based on time of day can save customers up to £229 compared with standard tariffs, and recently partnered with Amazon’s Alexa device to improve customer access to up-to-date changes in prices on the tariff. Electric Juice comprises a range of four tariff options, which can be tailored to suit different businesses’ needs, the company said. It includes a six-monthly review to assess whether companies are on the most appropriate tariff structure, it added.
Business Green 25th March 2019 read more »