By Jaime Llinares Taboada

 

The energy supply arm of Royal Dutch Shell PLC will be transferred 255,000 domestic customers from Green Supplier Ltd., one of the U.K. retailers that went out of business in recent weeks due to rising gas and power prices.

Ofgem, the country's energy regulator, said Monday that it has appointed Shell Energy to take on supplying Green's customer base, which also includes a small number of non-domestic clients.

On Sunday, Octopus Energy was appointed to supply 580,000 households from Avro Energy, another collapsed retailer.

So far this month, 1.5 million U.K. customers have seen their suppliers go out of business. A global shortage of natural gas has increased power prices in Europe, and ill-prepared companies can't cover the cost of buying the electricity they need to supply their customers.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

September 27, 2021 08:15 ET (12:15 GMT)

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