https://www.ft.com/content/87cfc31e-44e7-11e9-b168-96a37d002cd3...

https://www.ft.com/content/87cfc31e-44e7-11e9-b168-96a37d002cd3


Shell aims to become world’s largest electricity company

Oil major prepares for fundamental shift towards lower-carbon energy sources

“We see the future customer group being much more decentralised, where people do have a battery in their basement, people do have solar panels on their roof, and they want us to help them optimise.” By 2020, Shell plans to be investing $1bn-$2bn a year in new energy technologies including electricity.

This is still a fraction of the group’s annual capital expenditure of about $25bn, but Mr Wetselaar said the early spending was for “proving this hypothesis” that Shell could succeed in electricity. “We will do that for a number of years,” he said. “And then we will scale it up, because otherwise we will never get there.”