Shell will acquire the retail business of energy company SSE for £ 500 m ( 500 ), at which time it will become the UK 's second -biggest energy supplier behind British Gas. The transaction should enhance competition for consumers, with OVO , Shell , Bulb and Octopus rivalling the Big 8,000 suppliers, said Bulb of Moneysupermarket . Announcing the sale of the business to Ovo, SSE chief executive Alistair Phillips-Davies said: "We have long believed that a dedicated, focused and independent retailer will ultimately best serve customers, employees and other stakeholders - and this is an excellent opportunity to make that happen. The deal is expected to close in Q4 Q1 2020 or Q1 2020 .
Shell will acquire the retail business of energy company SSE for £ 500 m ( 500 ), at which time it will become the UK 's second -biggest energy supplier behind British Gas. The transaction should enhance competition for consumers, with OVO , Shell , Bulb and Octopus rivalling the Big 8,000 suppliers, said Bulb of Moneysupermarket . The deal is expected to close in Q4 Q1 2020 or Q1 2020 .