Octopus Energy is reportedly on the brink of sealing a deal to take over Shell Energy‘s extensive household energy customer base.
Sky News has learned that Octopus Energy is emerging as the prime contender for this strategic acquisition.
According to reports, Octopus Energy is currently aiming to secure Shell Energy’s 1.4 million customers, aiming to become a strong player in the UK’s energy market, possibly reaching 6.5 million homes, putting it in competition with British Gas.
Energy giant Shell put its UK energy retail business up for sale earlier this year.
Although Octopus Energy appears to be the frontrunner in this deal, sources caution that the deal is not yet sealed.
In June, Octopus successfully migrated all 1.5 million Bulb customers onto its systems.
This transfer began shortly after Octopus finalized its acquisition of Bulb on 23rd December 2022.
Energy Live News has contacted Octopus and Shell Energy for comment – Octopus declined to comment.
