Shell acquires Powershop Australia
Shell Energy Operations Pty Ltd, today announced it will acquire Powershop Australia , an online energy retailer serving more than 185,000 customers.
Shell Australia chairman Tony Nunan said: “Shell has been in Australia for more than 120 years and has a proud history of providing Australians with the energy they need to power their lives. This acquisition will see Shell continuing to serve the energy needs of our customers – this time in their homes.”
The acquisition of Powershop is in line with Shell’s Powering Progress strategy and ambition to create an integrated power business. Powershop will form Shell’s residential power platform in Australia, extending Shell’s existing position as Australia’s largest dedicated retailer of electricity to commercial and industrial customers. Under the arrangement with ICG, Shell Energy will also acquire wind power purchase agreements (PPAs) and has agreed offtake arrangements with ICG associated with MEA’s hydro and wind assets.
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