How do you know when BIG oil is starting to panic and change strategy?
They have obviously seen the writing on the wall and are starting to make maneuvers to make sure they hopefully remain relevant in the near to long term.
Shell has started investing into the utility market to diversify its operations to include electrical supply direct to households.
Shell has agreed to purchase First Utility in the United Kingdom
“This combination will enable Shell to enter a new part of the energy market in the UK and to improve choice for customers by delivering innovative services at competitive prices.
We believe that the time is right to build upon our strong relationship with First Utility by investing to grow its business,”
Mark Gainsborough, executive VP of new energies.
Shell has has a preexisting relationship with First Utility as a supplier to them of wholesale gas and electricity.
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