> Shell (SHEL.L) is considering exiting its home energy retail businesses in Britain, the Netherlands and Germany in the wake of “tough market conditions”, it said on Thursday.
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> European energy suppliers have struggled over the past year with soaring wholesale prices and efforts by governments to shield consumers from rising bills.
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> Shell said it had launched a strategic review of the three businesses which is likely to take a few months, but that no decision had been taken yet on their future.
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> Shell injected nearly $1.5 billion in cash and credit into its British energy retail business in 2022 to help it weather huge volatility in power prices that caused the collapse of several rival UK utilities.
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> Shell Energy Retail, its UK business, has 1.4 million customers, while its German business has 110,000 and the Dutch business 15,000.
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> Shell said its wholesale and business-to-business (B2B) energy supply businesses were not part of the strategic review, and neither were its home energy supply businesses in the United States and Australia.
Good. Shell Energy is a shite company. The previous tenants of the house that I just moved into used them and they kept chasing us for over £100, sending us final notices etc, long after we’d switched to OVO and didn’t owe them a penny.
Everything is done by letter and phone call with them – they even sent me a refund via cheque in the post, like it’s the 90s.
Their prices aren’t even competitive so I don’t know why anyone uses them.
It’s almost like relying on private for-profit companies for essential services may not be the smartest idea…
“Tough market conditions?” Yeah so what’s that pile of gold doing behind you Execs?
Tough conditions my arse
Jesus Christ this means even more consolidation of home energy monopolies. This country is truly fucked.
>Although the retail businesses have struggled, Shell is set to post a record annual profit of over $30 billion in 2022 when it reports results on Feb. 7 thanks to soaring oil and gas prices.
Poor Shell. How can they manage on so little?
“when the parasite has sucked the host dry, it moves on to another victim”
7 comments
> Shell (SHEL.L) is considering exiting its home energy retail businesses in Britain, the Netherlands and Germany in the wake of “tough market conditions”, it said on Thursday.
>
> European energy suppliers have struggled over the past year with soaring wholesale prices and efforts by governments to shield consumers from rising bills.
>
> Shell said it had launched a strategic review of the three businesses which is likely to take a few months, but that no decision had been taken yet on their future.
>
>
> Shell injected nearly $1.5 billion in cash and credit into its British energy retail business in 2022 to help it weather huge volatility in power prices that caused the collapse of several rival UK utilities.
>
> Shell Energy Retail, its UK business, has 1.4 million customers, while its German business has 110,000 and the Dutch business 15,000.
>
> Shell said its wholesale and business-to-business (B2B) energy supply businesses were not part of the strategic review, and neither were its home energy supply businesses in the United States and Australia.
Good. Shell Energy is a shite company. The previous tenants of the house that I just moved into used them and they kept chasing us for over £100, sending us final notices etc, long after we’d switched to OVO and didn’t owe them a penny.
Everything is done by letter and phone call with them – they even sent me a refund via cheque in the post, like it’s the 90s.
Their prices aren’t even competitive so I don’t know why anyone uses them.
It’s almost like relying on private for-profit companies for essential services may not be the smartest idea…
“Tough market conditions?” Yeah so what’s that pile of gold doing behind you Execs?
Tough conditions my arse
Jesus Christ this means even more consolidation of home energy monopolies. This country is truly fucked.
>Although the retail businesses have struggled, Shell is set to post a record annual profit of over $30 billion in 2022 when it reports results on Feb. 7 thanks to soaring oil and gas prices.
Poor Shell. How can they manage on so little?
“when the parasite has sucked the host dry, it moves on to another victim”
:David Attenbrough… proably