Shell Energy to buy Green Star Energy
Shell Energy has announced it plans to buy Green Star Energy, taking one of the largest suppliers outside the big six to almost one million customers.
Under the agreement, Shell Energy will buy Hudson Energy Supply UK, which supplies energy to 200,000 homes in the UK through the Green Star Energy brand, as well as 2,000 commercial properties.
The deal is subject to regulatory approval, and is expected to be completed by the end of 2019. Until then, nothing changes and both companies will continue to operate separately.
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I'm with Green Star Energy – what does this mean for me?
Under the terms of the deal, Hudson Energy Supply UK will continue to operate as a subsidiary of Shell Energy – so the Green Star Energy brand is likely to remain for some time.
According to Shell Energy, Green Star Energy customers won't see any changes to their "current tariff terms and conditions" – so if you're on a fixed tariff, your deal will be honoured, while anyone on a variable tariff shouldn't see any immediate price change.
If you're on a renewable tariff with Green Star Energy, Shell Energy will also honour this.
What do Shell and Green Star Energy say?
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 (business-to-business) market.
"Green Star Energy's customers will enjoy continued security of supply with no change to their current tariff terms and conditions after completion."
Paul Hellings, chief executive of Hudson Energy, said: "Shell Energy Retail is the perfect partner for our customers. Our priority is to ensure they continue to receive a great deal and great service. Our customers' existing tariff terms will not change; they will continue to benefit from 100% renewable power at no extra cost, their Perks Rewards, and investment in reforestation and carbon offsetting initiatives that help to set us apart in the UK energy market."
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