Shell considers exiting UK, German, Dutch energy retail businesses

Ron Bousso
FILE PHOTO: Signage is seen at a Shell petrol station in London

By Ron Bousso

LONDON (Reuters) - Shell has launched a strategic review of its home energy retail businesses in Britain, the Netherlands and Germany in the wake of "tough market conditions", it said on Thursday.

European energy suppliers have struggled over the past year with soaring wholesale prices and efforts by governments to shield consumers from rising bills.

No decision has been taken yet on the future of the businesses, Shell said.

Shell injected nearly $1.5 billion in cash and credit into its British energy retail business in 2022 to help it weather huge volatility in power prices that caused the collapse of several rival UK utilities.

Shell said its wholesale and business-to-business (B2B) energy supply businesses are not part of the strategic review, and neither are its home energy supply businesses in the United States and Australia.

(Reporting by Ron Bousso; Editing by Kirsten Donovan)

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