Shell acquires Australian energy retailer

Shell Energy Operations, a wholly-owned subsidiary of Shell is to acquire Powershop Australia, an online energy retailer serving more than 185,000 customers.

The acquisition of Powershop is in line with Shell’s ambition to create an integrated power business and would extend its position as Australia’s largest dedicated retailer of electricity to commercial and industrial customers.

Under the agreement with ICG, Shell Energy will also acquire wind power purchase agreements (PPAs) and has agreed offtake arrangements with ICG associated with MEA’s hydro and wind assets.