November 24, 2021 Read More →

Shell takeover of green energy retailer sparks backlash in Australia

Reuters:

Royal Dutch Shell (RDSa.L) is facing protests over its takeover of green energy retailer Powershop Australia, with customers threatening to switch to other renewable energy providers to avoid becoming customers of a fossil fuel company.

Shell said on Monday it was expanding into Australia’s household power market by teaming up with Infrastructure Capital Group to buy Meridian Energy’s (MEL.NZ) Australian electricity business, which has more than 185,000 customers, for A$729 million ($526 million). The deal is expected to close in early 2022. read more

Activist group Environment Victoria said on Wednesday it had terminated a six-year partnership with Powershop Australia as it was no longer tenable if Shell was going to own the business.

“You can’t slap a bit of green paint on a multi-billion dollar pollution machine and expect us to ignore it,” Environment Victoria Chief Executive Jonathan La Nauze said.

Powershop customers went on social media saying they had switched to other green energy providers and recommended competitors.

[Sonali Paul]

More: Shell faces anger over takeover of Australian green energy retailer

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