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Octopus Energy buys Shell Energy UK – here's what you need to know

Octopus Energy has bought Shell Energy UK in a move which will see Shell's gas and electricity customers moved to Octopus. If you're with Shell, your account, including payment details, will be transferred automatically in the coming weeks and months – just look out for a welcome email from Octopus. Until then, there are no changes and you should keep paying your bills as normal.

The deal between Shell and Octopus completed on 1 December 2023 after Shell announced plans in June to sell its household energy and broadband businesses.

Octopus started the migration process in December 2023 and says it will contact Shell customers when their account is ready to be moved over. Until you hear from Octopus, there will be no change to your service. The terms and conditions of your contract remain the same and you can still get help and manage your account in the same way you always have through Shell. 

You should also continue to pay your bills in full and on time. Octopus has said not to cancel your direct debit if you have one set up, as these will be automatically transferred over, as will all credit and debt balances, when your account is moved over to Octopus.

Shell and Octopus say there should be no disruption to your energy supply. Under energy regulator Ofgem's rules, households will never be left without an energy supply during a change of supplier.

If you're in contract with Shell, it will be honoured

Octopus has confirmed that customers' individual contracts will be honoured and that it will let customers know their options before their tariff ends. However, if you're out of contract or on a variable deal, your prices could change.

The vast majority of Shell's energy customers are on its standard variable tariff. This is currently controlled by the Energy Price Cap, with only a small number on fixed-price contracts. If you're on a variable tariff, you won't have exit fees, so you're free to switch away at any point penalty-free.

Ahead of the deal completing, Shell was offering a fixed energy deal, initially to existing customers, and then opened it to new customers (for more info on available fixes, see our Should I fix my energy or stay on the Price Cap? guide). If you've fixed or switched to Shell, Octopus has confirmed it will honour your deal and if you want to switch away once you're transferred to Octopus, you can do so at any time, but you may have to pay an early exit fee.

What does Octopus Energy say? 

Greg Jackson, chief executive and founder of Octopus Energy Group, said: "Our commitment to customers is paramount and we will do whatever it takes to deliver the Octopus promise when we welcome these new customers too."

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