|
|
|
|
|
Shell To Acquire Retail Energy Supplier Serving Over 200,000 Residential Customers
The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Shell New Energies US LLC (Shell), a subsidiary of Royal Dutch Shell plc, has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC (Inspire), a renewable energy residential retail energy supplier with joint headquarters in Santa Monica, CA and Philadelphia, PA.
"Our goal is to become a major provider of renewable and low-carbon energy, and this acquisition moves us a step closer to achieving that," said Elisabeth Brinton, Executive Vice President of Renewables & Energy Solutions at Shell. "This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., and we are well-positioned to build on Inspire's advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy."
"Inspire offers renewable energy to customers via a variety of innovative services and subscription plans and incentivizes customers to manage energy usage via a rewards program within its mobile app. The acquisition accelerates Shell's digital ambitions in the power sector by utilizing data-driven, digitally enabled platforms to simplify customers' decarbonization journeys," Shell said
Subject to regulatory clearance and the satisfaction of closing conditions, the deal is expected to be completed by Q4 of 2021.
As part of Shell, Inspire intends to "rapidly" scale its offering of access to sustainable energy to U.S. households.
Shell Energy North America has been an early energy supplier to Inspire since 2017.
Inspire will augment Shell's existing position as a power supplier to residential customers in the U.S. alongside MP2 Energy, a wholly owned subsidiary of Shell Energy North America. Shell has also acquired several additional retail suppliers or customer books this year (see story here)
Inspire currently serves approximately 235,000 residential customers in Delaware, Illinois, Massachusetts, Maryland, New Jersey, New York, Ohio, Pennsylvania, and Washington DC.
Subject to regulatory clearance and the satisfaction of closing conditions, Inspire will be a wholly owned subsidiary of Shell, operating under its existing brand within its Renewables & Energy Solutions integrated power business.
The Inspire leadership team and existing employee base will remain in place.
ADVERTISEMENT Copyright 2010-21 Energy Choice Matters. If you wish to share this story, please
email or post the website link; unauthorized copying, retransmission, or republication
prohibited.
July 27, 2021
Email This Story
Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Senior Account Operations Analyst -- Retail Supplier
• NEW! -- Energy Procurement Manager
• NEW! -- Natural Gas Retail Analyst -- Retail Supplier -- Houston
• NEW! -- Associate Director of Market Strategy -- New York/Anywhere
• NEW! -- Energy Risk Professional -- Retail Supplier -- Houston
• NEW! -- Energy Customer Support Specialist -- Retail Supplier -- Houston
• NEW! -- Business Development Account Executive - Indirect Broker Sales -- Retail Supplier -- Houston
• NEW! -- Customer Engagement Manager -- Retail Supplier -- Houston
• NEW! -- Energy Customer Service Specialist
• NEW! -- Energy Sales Executive
• NEW! -- Senior Energy Intelligence Analyst
• NEW! -- Energy Advisor
|
|
|
|