Octopus Energy to buy Shell Energy– here’s what it means if you’re a customer

Octopus Energy has agreed to buy Shell’s household gas and broadband business in a deal that’ll see two million customer transfer over.

The deal is subject to approval from the regulator but, if given the go ahead, it would take Octopus Energy’s customer base to 6.5 million, making it Britain’s second biggest energy supplier.

This deal is the latest step in Octopus Energy’s expansion – it recently bought Bulb and completed the transfer of 1.5 million customers.

What should you do if you’re a Shell Energy customer

Octopus Energy has advised Shell customers to sit tight for now as the deal isn’t expected to be completed until the end of 2023. They’ve said when the time is right, they’ll be in touch with Shell customers to advise them of the transfer.

How will you be affected if you’re a Shell Energy customer?

If the Bulb deal is anything to go by, the transition from Shell to Octopus should be seamless with no disruption to customer energy supplies.

Customers whose accounts are in credit, will have the money transferred to their new Octopus along with their existing direct debits. All balances will be protected.