Shell faces anger over takeover of Australian green energy retailer -Breaking
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© Reuters. FILE PHOTO – A Shell logo is displayed on the garage forecourt of central London, March 6, 2014. REUTERS/Neil Hall/File PhotoMELBOURNE (Reuters] – Royal Dutch Shell is under fire for its purchase of Powershop Australia green energy retailer. Many customers are threatening not to become customers of a petroleum company and have threatened to switch to alternative renewable energy suppliers.
Shell, in a Monday statement, said it would be expanding into Australia’s residential power market. Infrastructure Capital Group will team up with Shell to purchase Meridian Energy’s Australian electricity business for A$729m (526 million). It is anticipated that the deal will close by early 2022.
Environment Victoria announced on Wednesday that the six-year partnership it had with Powershop Australia was over. It was not viable if Shell were to buy the business.
Jonathan La Nauze, Environment Victoria chief executive said that “you can’t put a little green paint on an multi-billion-dollar pollution machine and expect it to ignore it.”
Powershop customers posted to social media claiming that they have switched to renewable energy suppliers and have recommended others.
“@PowershopAus it’s a terrible thing to learn that you were sold to @Shell “Thanks for the previous service. I switched to another provider today,” Jen Basham stated on Twitter (NYSE:).
Powershop stated on Monday via social media that its ownership is changing but its commitment to its customers and the environment was not.
According to the deal, company was still tied to wind and hydropower assets by power purchase agreements. It also stated that its energy would be fully carbon offset.
Shell Australia spokesperson stated that they were committed to decreasing its emissions by 50% by 2030 and reaching net zero emissions in 2050. She said that the acquisition of Powershop fits in with Shell Australia’s efforts to be a leading provider of Clean Power-as-a-Service.
Shell spokesperson stated that they look forward to supporting Powershop customers’ energy decarbonization ambitions.
($1 = 1.3870 Australian dollars)
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