Major update for 1.3 million Shell Energy customers after massive takeover
OCTOPUS Energy has released a major update for Shell Energy customers whose accounts are about to be switched to the supplier.
The energy supplier, which is part of the ‘Big Six’, has announced exactly when the accounts of tens of thousands of Shell Energy customers will be transferred.
The supplier says that 750,000 ex-Shell Energy customers have already switched their accounts.
The migration process began before Christmas, but a spokesperson told The Sun that all 550,000 remaining customers will have been moved to the parent brand by the end of April.
So far, Octopus Energy had not provided a timetable for when it expects all Shell Energy customers to switch.
Once this process is complete, the domestic energy brand Shell Energy will cease to exist and all customers will have their gas and electricity managed directly by the Octopus brand.
The transfers will not interrupt a customer’s delivery, bills or meters.
Shell Energy’s remaining customers will be notified of the account move via letter, email or on one of their upcoming bills.
The update contains all the important details about what to expect from the move.
You may have already received this. But if you haven’t, you don’t need to do anything or contact Octopus Energy.
It comes just months after Shell agreed to sell its domestic energy and broadband business to the utility last September.
At the time, Shell Energy provided domestic gas, power and broadband services to approximately two million customers.
The suppliers completed the sale in the fourth quarter of 2023.
Octopus Energy said there will be a smooth transition to the business and there will be no disruption to customer energy supplies.
However, industry experts expected Octopus Energy to divest its telecom base to another telecom provider at the time of the sale of Shell Energy.
And on February 7, Octopus Energy sold Shell Energy’s broadband business to TalkTalk.
About 480,000 Shell broadband customers will switch to TalkTalk in the coming months.
By acquiring Shell Energy’s customer base, Octopus Energy has now become Britain’s second largest energy supplier with 6.8 million customers.
The last major supplier that are domestic arm for sale was SSE in 2019.
SSE Energy Services, which supplied gas and electricity to 3.5 million households, was acquired by Ovo Energy in January 2020.
What energy bill help is available?
ENERGY debt rose to a new record of £2.9 billion in the final quarter of 2023, Ofgem figures show.
If you are having difficulty paying your bill, please contact your supplier.
They can set up a payment holiday or debt repayment plan to help you better manage your cash.
Most suppliers, including British Gas, E.ON and Ovo Energy, are also offering grants of up to £1,500 to help needy families pay off their debts.
Ask your supplier what the offer is and how you can register.
For other support, use the benefits calculator on the turn2us.org.uk website to make sure you don’t miss anything.
Also ask your municipality about local schemes such as fuel vouchers and the Household Support Fund.
Octopus Energy said in October 2022 it would take over all 1.5 million Bulb customers after the struggling energy supplier fell into administration in November 2021.
At its peak, Bulb was the nation’s seventh largest energy company, providing gas and electricity rates to 1.7 million homes.
But it was the largest provider that collapsed after several other smaller companies failed to stay afloat.
Unlike the smaller suppliers who went bankrupt with hundreds of thousands of customers, Bulb had more than a million.
This meant Ofgem couldn’t simply get another supplier to take over all its customers, as it has done with the 28 other companies that went bust in 2021.
Instead, Bulb was placed under special management, meaning it could continue to operate as normal and customers didn’t have to do anything.
In this format, the company was kept afloat thanks to the infusion of £4 billion of taxpayers’ money.
But in October 2022, Octopus announced a deal with the government to buy Bulb and take on its 1.5 million customers, backed by the government.