Just Energy Group Inc and Shell Energy Retail have announced that they signed an agreement for Shell Energy Retail to acquire 100% of Hudson Energy Supply. Hudson Energy supplies around 200,000 UK residential customers with gas and 100% renewable electricity through its residential trading arm, Green Star Energy, as well as providing bespoke gas and 100% renewable electricity contracts to around 2,000 commercial customers.
Paul Hellings, CEO of Hudson Energy, said “Shell Energy Retail is the perfect partner for our customers. Our priority is to ensure they continue to receive a great deal and great service. Our customers’ existing tariff terms will not change; they will continue to benefit from 100% renewable power at no extra cost, their Perks Rewards, and investment in reforestation and carbon offsetting initiatives that help to set us apart in the UK energy market.”
Colin Crooks, CEO of Shell Energy Retail said “As part of our ambition to build a significant UK retail energy business, this deal will take the number of Shell Energy Retail’s UK residential customers to just under 1 million and adds to Shell’s presence in the B2B market. Green Star Energy’s customers will enjoy continued security of supply with no change to their current tariff terms and conditions after completion.”
The deal is subject to regulatory approvals and is expected to complete by the end of 2019. Until completion, both companies will continue to operate independently. Under the terms of the deal Hudson Energy Supply UK Limited will continue to operate as a wholly-owned subsidiary of Shell Energy Retail Limited on completion.