TotalEnergies acquires Ørsted's UK customer portfolio
TotalEnergies has signed an agreement to purchase the majority of Ørsted’s UK business to business gas and electricity customer base. TotalEnergies has agreed to honour all customer and broker terms and conditions.
Dave Cranfield, General Manager of Total Gas & Power said:
“We are delighted to have signed this agreement with Ørsted. It demonstrates our commitment to UK businesses and the energy market. We are well placed to supply all businesses – large and small - with their current and future energy needs.”
“TotalEnergies is committed to better energy and this means being a responsible supplier who offers renewable energy and enables customers to offset their carbon emissions. We’re also meeting the needs of our customers by offering electric vehicle charging and solar PV solutions”.
Total Gas & Power has been providing UK businesses with energy since 1987. As part of Power & Gas Europe, their ambition is to supply 10 million business and domestic gas and electricity customer sites across Europe by 2025. They also aim to become carbon net zero across their worldwide operations by 2050.
This acquisition enables Total Gas & Power to move closer to their goal of increasing their renewable energy customer base. This is owing to 97% of the transferring power customers having green certificate backed contracts which will be honoured as part of the deal.
Ørsted’s strategic focus has moved to building, owning and operating renewable generation assets, therefore they have decided to significantly scale down their downstream operations.
The transaction remains subject to clearance by the competition authorities.