Shell plc (LSE:SHEL) is considering selling its UK energy supply business after injecting £1.2 billion into the loss-making division to help it cope with rocketing gas and electricity prices. The company said it had launched a strategic review of the business, which supplies 1.4m British households and also operates in Holland and Germany. It raises the prospect of the unit being sold just six years after Shell first moved into the UK household supply sector.
A spokesman said no decisions had been made and that Shell's priority was to "ensure our customers in those countries continue to receive a reliable and affordable energy supply", while helping those who are struggling
with bills. The company said the process was expected to take "a number of months" but did not give a target finish date. A Shell spokesman said: "The review is in line with our 'powering progress' strategy, which includes continually exploring options to maximise the value of our portfolio and address performance in tough market conditions".