Shell Energy Considers Leaving UK, Putting Jobs At Risk

The Coventry-based company provides energy to 1.4 million UK homes and broadband to approximately 500,000 people.

Shell Energy Considers Leaving UK, Putting Jobs At Risk

Shell Energy is considering leaving the energy sector, putting up to 2,000 UK jobs at risk. In the face of “tough market conditions,” the company announced a “strategic review” of its operations in the United Kingdom, the Netherlands, and Germany.

The Coventry-based company provides energy to 1.4 million UK homes and broadband to approximately 500,000 people.

“No decisions have yet been made on the way forward,” a spokesperson said, adding that the review could take months. The company stated that it wanted to “maximise value” and “address performance in difficult market conditions,” but did not elaborate on what this meant for job opportunities.

One possibility is to withdraw from the home energy market entirely. Energy companies have been restricted by the Ofgem cap, which will change in April, on how much suppliers can charge for the energy they sell. The cap means firms are obliged to set prices below what it costs them to buy wholesale gas and electricity.

It was reported in May 2022 that 30 energy companies had ceased operations in the UK since August 2021. Shell stated that it remained committed to its business model of producing, buying, trading, transporting, and selling energy globally.

“Our priority remains to ensure that our customers in those countries continue to receive a reliable and affordable energy supply, as well as to provide support for customers who are struggling with energy costs and wider cost-of-living pressures,” the company added.

Shell Energy Retail Limited is the UK consumer-facing arm of Shell’s energy business. It provides gas, electricity, and broadband services to residential and small business customers in the United Kingdom.

The company offers a range of fixed and variable-rate tariffs, as well as green energy options. They also offer a loyalty program and smart home devices to monitor energy usage. Shell Energy Retail Limited also operates under the brand name First Utility.