Shell UK cuts home bills

Shell stepped closer to becoming the world’s biggest power company with an aggressive move into the UK retail market by offering one of the cheapest tariffs available. Shell Energy, formerly First Utility, said it has a fixed-rate power-supply tariff, for UK customers, of £970 (€1,133) a year, or £81 a month until July 2020.

The move is part of its rebranding of its UK utility business. This undercuts former cheapest UK power supplier, Bulb Energy Ltd, which has a deal available for £981 a year, and is 18% cheaper than power supplied by Centrica-owned British Gas, according to data from UK power regulator Ofgem.