Shell exits energy retail business in UK, Germany and Netherlands

Shell, the London-based oil and gas company, announced a decision to withdraw from its home energy retail businesses in the UK, Germany and the Netherlands.

The company’s decision comes after it concluded a strategic review of its European retail businesses.

Shell added that ‘a sales process is already underway, with the intent to reach an agreement with a potential buyer in the coming months.’

Shell asserted in its statement that the sales process would have no effect on consumers.

‘We are committed to supporting both customers and staff and protecting customer interests during this period, and ensuring a seamless transfer to a buyer capable of delivering on its obligations, including our intent to maximise employment,’ Shell said.

• The company's decision comes after it concluded a strategic review of its European retail businesses.