Part of FT article. "Oil majors and utilities begin battle for...

Part of FT article.

"Oil majors and utilities begin battle for power"

Technology and climate change force energy providers to rethink strategies The falling costs of renewables and batteries, and innovations in grid management, are breaking down the standard model of electricity supply . Ten years ago, you knew where you stood with your energy suppliers. Oil companies sold road fuel, while utilities supplied electricity and gas. Today, those old lines of demarcation are blurring: utilities can fill up your car and oil companies want to keep your lights on.

Technological progress and the threat of climate change are forcing both oil companies and utilities to rethink their strategies, and are pushing them into each other’s territory. The result is set to be a period of intensified competition and instability, as companies that were previously able largely to forget about each other are now forced to battle for dominance.

On Sunday Royal Dutch Shell, one of the world’s largest oil and gas companies, announced that its First Utility retail power business would be rebranded as Shell Energy, with 700,000 households switched to renewable power. Customers will be offered not only cleaner electricity but discounts on fast-charging for their electric vehicles as well as broadband and smart-home technologies. Shell has floated the idea that by the 2030s it could be the largest power company in the world....................