Octopus to buy Shell's household energy firm

Octopus has announced it volition bargain Shell's household vigor concern successful the UK and Germany.

Octopus Energy said that it volition instrumentality implicit providing vigor for 1.4 cardinal homes arsenic good arsenic broadband services for 500,000 customers.

Shell's customers are advised to "sit choky for now" arsenic the woody is not expected to beryllium completed until aboriginal this year.

It is the latest enlargement for Octopus which bought Bulb aft its collapse.

That woody - which rival vigor providers challenged successful the UK High Court implicit authorities enactment - gave Octopus an further 1.5 cardinal customers.

With Shell, its full lawsuit basal volition turn to astir 6.5 cardinal customers.

Shell and Octopus some refused to disclose however overmuch the concern is being sold for.

Octopus said: "There volition beryllium a creaseless modulation and nary disruption to lawsuit vigor supply, each Shell vigor and broadband customers volition beryllium contacted astir the adjacent steps pursuing regulatory approval.

"Customer recognition balances are protected, and volition automatically get transferred to their caller relationship with Octopus unneurotic with their existing nonstop debits."