[LONDON] Royal Dutch Shell Plc took a step forward in its aim to become the world's biggest power company with an aggressive move into the UK retail market by offering one of the cheapest tariffs available. Read more at The Business Times.
Royal Dutch Shell Plc took a step forward in its aim to become the world's biggest power company with an aggressive move into the UK retail market by offering one of the cheapest tariffs available.[LONDON] Royal Dutch Shell Plc took a step forward in its aim to become the world's biggest power company with an aggressive move into the UK retail market by offering one of the cheapest tariffs available.
This undercuts former cheapest UK power supplier Bulb Energy Ltd, which has a deal available for 981 pounds a year, and is around 18 per cent cheaper than power supplied by Centrica Plc-owned British Gas, according to data from UK power regulator Ofgem. The move will bring yet more pressure to the UK power market which has seen swaths of customers abandon the traditional Big Six utilities for smaller, cheaper suppliers. Surging wholesale prices for power and gas have driven several companies out of business. Last year, more businesses folded than in the previous 16 years combined. Brilliant Energy, which has about 17,000 domestic customers, became the 10th firm to cease trading in the past 12 months on March 11.
"Shell recognises the world needs more energy with lower emissions and this will give customers more flexibility, greater control and cleaner energy," said Mark Gainsborough, executive vice-president of Shell New Energies US LLC.
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