Shell buys UK domestic energy supplier First Utility

Oil giant Shell continued its repositioning for energy transition with a deal to buy First Utility, a UK domestic supply business.

An independent challenger to the UK’s ‘big six energy players’, First Utility supplies about 825,000 homes with electricity and gas – a roughly 3% market share.

Shell said the acquisition would help it prepare for a “new electricity value chain” in which consumers have more control over their increasingly renewables-based power supplies, including sale of excess to the grid.