Daily Management Review

Shell may withdraw from UK, Germany and the Netherlands businesses


The energy major Shell is thinking about getting out of the retail electricity industry in the Netherlands, Germany, and the United Kingdom.

The business cited challenging market conditions as the cause.

Shell made it clear that it has started to assess the three businesses' strategic direction. Most likely, it will take several months. No particular choice has been made as of yet. According to Reuters, who cited a statement from the corporation, no specific dates have been provided for the decision about the enterprises.

According to the organization, European energy suppliers would experience significant increases in wholesale costs in 2022. To combat "the significant unpredictability in electricity prices that led to the bankruptcy of numerous competing British utilities," Shell invested about $1.5 billion in its UK retail power business last year.

source: reuters.com