Jun 07, 2022
Shell today announced the launch of the Shell Energy brand into the residential power market in the United States. Through Shell Energy Solutions (“Shell Energy”) the company now offers 100% renewable electricity plans to eligible customers in Texas, expanding its portfolio of offerings and giving residential customers access to renewable electricity plans while building on the trusted relationships the company has built with Texans over decades.
“We’re excited about this entry into the residential electricity market and look forward to providing a suite of 100% renewable electricity plans to customers across the state. Shell is widely known for its leadership in developing and delivering low-carbon solutions for commercial customers. Now, backed by our extensive energy trading and marketing expertise, we can offer new products to residential customers who want sustainable, innovative energy plans for their homes.”
Glenn Wright, Vice President of Renewables and Energy Solutions for Shell in the Americas
Shell Energy offers 100% renewable electricity plans to customers in competitive areas of the Energy Reliability Council of Texas (ERCOT) grid, with plans backed by renewable energy certificates that support generation from renewable resources.
“We continue to see opportunity in change,” said Wright. “This expansion of our renewable offerings in the U.S. allows us to build on our leadership in the energy transition.”
In addition to a standard 100% renewable electricity plan, Shell Energy offers a plan for electric vehicle drivers that features free charging during off-peak hours and a fixed electricity rate. For homeowners with solar panels, Shell Energy offers a solar buyback plan that gives customers credit for the excess solar power they export to the grid.
Globally, Shell Energy currently serves approximately 1.5 million customers across nine countries. Shell Energy’s launch in the U.S. is another step in Shell’s development of a material integrated power business, in-line with Shell’s strategy to become a net-zero emissions energy business by 2050.
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The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
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This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, June 7, 2022. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
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Shell’s net-zero emissions target
Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint (NCF) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.
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FAQs
Did Shell launches renewable power brand in Texas under a new branch of the company? ›
Shell's power plans will offer perks for electric vehicle drivers and homeowners with solar panels. Global oil major Shell on Tuesday said it is entering the residential electricity market in Texas, offering renewable power under a new branch of the company.
Will Shell The oil Giant sell renewable energy to Texans? ›The company will acquire the energy it sells to customers from wind and solar installations around Texas. Shell's shift includes expanding investments in renewable energy, power trading and electric vehicle charging stations.
Is Shell Energy 100% renewable? ›All of our electricity comes from 100% renewable sources like wind, solar and biomass.
Can you sell solar power back to the grid in Texas? ›Many solar retail electric providers (REP) in Texas offer their customers buyback plans that do just this. If you have an interconnection with the Texas grid, your excess electricity is exported into the power grid for other people to use. Your solar electricity becomes community solar energy.
Who bought Shell in Permian Basin? ›In total, Shell's Permian assets sold to ConocoPhillips make up about 225,000 acres, along with about 600 miles of pipelines.
Are any new power plants being built in Texas? ›McDermott completed this 50-MW pilot plant near Houston last year that successfully synchronized power it produced to the Texas electric grid after operating for more than 1,500 hours; a utility scale facility will be built in Odessa, with operation anticipated by 2026.
Who is buying Shell Permian assets? ›ConocoPhillips has acquired Permian assets in the US from Shell Enterprises, a unit of Royal Dutch Shell, for $9.5bn.
What is the largest source of renewable energy generation in Texas? ›For the last decade and a half, Texas has led the nation in wind-powered electricity generation, producing nearly 26 percent of the U.S. wind energy in 2021. The state's vast and diverse geography makes it a leader in solar-generation potential as well.
Who is the largest purchaser of renewable energy? ›At the end of 2021, Amazon announced a blockbuster purchase: 18 new projects around the world, bringing its total to 12 gigawatts and making Amazon the largest corporate buyer of renewable energy in the world.
What is the number 1 renewable energy? ›Wind power is the leading renewable energy source, bringing in 8% of the energy of the United States. This renewable energy source isn't as quiet as solar power, but it does pack a solid efficiency rating and is generally environmentally friendly.
What country owns Shell Energy? ›
| Place | Population |
|---|---|
| Costa Rica | 4,857,000 |
| Democratic Republic of the Congo | 84,000,000 |
| Douglas Cty., Washington, United States | 41,945 |
| Ethiopia | 109,224,414 (2018) |
Solar Energy System Property Tax Exemption
Add a new rooftop solar panel system to your home in Texas and your property taxes won't go up. Installing a photovoltaic (PV) system in Texas could also help you build home value.
How long does it take to pay off solar panels in Texas? The average payback period for solar panels in Texas is around 13 years years. Your payback period will depend on the cost of your system and the amount of power it generates. The more energy your system generates the faster it will pay for itself.
Can Texas Hoa stop solar panels? ›Texas Property Code Section 202.010 forbids HOAs and property owners associations from prohibiting outright a property owner from installing a solar energy device as defined by Texas Tax Code Section 171.107.
Who is the largest oil producer in the Permian Basin? ›Chevron is one of the largest producers of oil and natural gas in the Permian. Our holdings total approximately 2.2 million net acres.
Who is the biggest shareholder in Shell? ›| Stockholder | Stake | Shares owned |
|---|---|---|
| Fisher Asset Management LLC | 0.60% | 21,082,914 |
| Dimensional Fund Advisors LP | 0.57% | 20,067,444 |
| Fidelity Management & Research Co... | 0.50% | 17,529,882 |
| Arrowstreet Capital LP | 0.34% | 11,922,016 |
Occidental Petroleum is the largest land holder in the top U.S. shale field, followed by Chevron.
Will electricity prices go down in 2023 in Texas? ›For 2023, EIA anticipates retail electricity prices will average $0.1532/kWh – ticking up from its $0.1524/kWh forecast a month ago. “Higher retail electricity prices largely reflect an increase in wholesale power prices, which are driven by higher natural gas prices,” the agency said.
Who is the largest power generation company in Texas? ›Vistra, the largest power company in Texas, slashed its earnings forecast for the year after reporting a $1.6 billion financial hit from the February winter storm.
What is the largest electric utility in Texas? ›
Oncor Electric Delivery Company is the largest transmission and distribution electric utility in the state of Texas and the 5th largest utility company in the US.
Does Shell have assets in Russia? ›Following all necessary regulatory approvals, Shell's sale of Shell Neft, its retail stations and lubricants business in Russia, to Lukoil has been completed.
Does BlackRock own Shell? ›Shell is not owned by hedge funds. The company's largest shareholder is BlackRock, Inc., with ownership of 7.7%. Meanwhile, the second and third largest shareholders, hold 4.4% and 3.7%, of the shares outstanding, respectively.
Is Conoco and Shell same company? ›ConocoPhillips (NYSE: COP) and a subsidiary of Royal Dutch Shell PLC (NYSE: RDS-A, RDS-B) closed a $9.5 billion deal on Dec. 1.
Which city in TX is the first city in the US to become 100% renewable energy based? ›Georgetown Is the First City in Texas to Be Powered Entirely by Renewable Energy—But Not for the Reasons You'd Think. Dan Solomon writes about politics, music, food, sports, criminal justice, health care, film, and business. A train brings pieces of the Rio Grande Valley wind farm through Brownsville.
What is the #1 source of electricity in Texas? ›| Fuel | GWh Generated | Share of Total |
|---|---|---|
| Natural Gas | 181,770 | 47.4 % |
| Coal | 77,857 | 20.3 % |
| Wind | 76,708 | 20.0 % |
| Nuclear | 41,314 | 10.8 % |
Those changes that regulators put in place — basically having power plants available to run more often, creating that added energy capacity — cost $1 billion extra. That higher cost is passed on in the wholesale price to the REP. And all those extra costs flow down to the person paying the bill: Edwards.
What is the best renewable energy company to invest in? ›- Brookfield Renewable Partners L.P. (BEP) Brookfield Renewable generates electricity with hydroelectric, wind, solar and biomass sources. ...
- Tesla Inc. (TSLA) ...
- First Solar Inc. (FSLR) ...
- Stem Inc. (STEM) ...
- Plug Power Inc. (PLUG) ...
- Clearway Energy. ...
- NextEra Energy (NEE)
We can find out which one of these renewable alternatives and power technology examples are the most efficient by calculating the costs of the fuel, the production, and the environmental damages. Wind comes out on top by a wide margin over all the other sources.
What percent of Texas energy is renewable? ›Republicans for decades have overseen the the energy sector in Texas, which still ranks 10th in the country for fossil fuel consumption, as nearly 90% of its energy is derived from fossil fuels and only about 7% derived from renewable sources.
Which state has the most reliable power grid? ›
(The Center Square) – Arizona and Nevada top the list of states with the most reliable electrical utilities, according to a report from the Citizens Utility Board.
What state leads in renewable energy? ›For instance, Texas — the nation's top producer of renewable energy — generates most of its renewable electricity from wind turbines. Runner-up Washington and fourth-place Oregon take advantage of large rivers in the Pacific Northwest to generate more hydroelectric power than any other state.
Who owns Shell in Texas? ›| One Shell Plaza, Shell USA's former headquarters in Houston. | |
|---|---|
| Key people | Gretchen Watkins (President) |
| Revenue | US$ 37.376 billion (2013/2016) |
| Number of employees | 12,100+ (2021) |
| Parent | Shell plc |
Shell worldwide
Our headquarters are in The Hague, the Netherlands, and our Chief Executive Officer is Ben van Beurden. The parent company of the Shell group is Royal Dutch Shell plc, which is incorporated in England and Wales.
Texas-based ConocoPhillips bought Shell's Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.
Are there any U.S. cities using 100% renewable energy? ›And with that, Burlington became the first city in the US to power its electricity grid entirely from renewables. The city is proud of its accomplishment, but it's not stopping there.
How many U.S. cities make 100% of the energy they use from renewable sources? ›More than 150 U.S. cities have committed to transition to 100% clean, renewable energy, with many aiming to achieve their goals by 2030, 2040, or 2050. But 6 cities are ahead of the curve, having already fully transitioned. Here are the 6 U.S. cities powered by 100% renewable energy: 1.
Where does the U.S. rank in renewable energy? ›| Characteristic | Capacity in gigawatts |
|---|---|
| U.S. | 325 |
| Brazil | 160 |
| India | 147 |
| Germany | 138 |
Many solar retail electric providers (REP) in Texas offer their customers buyback plans that do just this. If you have an interconnection with the Texas grid, your excess electricity is exported into the power grid for other people to use. Your solar electricity becomes community solar energy.
Can you get free solar panels in Texas? ›No, there is no such thing as a no-cost solar program. These programs are actually solar leases or power purchase agreements (PPAs) in which a company will install solar panels on your roof for no money up-front, but they will charge you for the electricity produced.
Does Texas have a free solar program? ›
Texas doesn't have a statewide solar tax credit or rebate program, but a number of local governments and utility companies (large and small) offer incentives to homeowners going solar. Residents of the state capitol, Austin, are eligible for Austin Energy benefits.
Will the government pay for solar panels in Texas? ›While Texas doesn't have a statewide solar tax credit or solar rebate program, many utilities (large and small) and local governments offer incentives to homeowners who want to go solar. Here are some examples: Austin Energy: If you live in Austin, you can get a rebate of $2,500.
How much is solar tax exemption in Texas? ›Through the ITC, you may be able to claim 26% of the installation cost of your solar system on your tax return. This amount will be deducted from your taxable income, which essentially translates to a 26% discount on your system.
Are solar panels in Texas worth it? ›Yes, solar is worth it in Texas! In fact, solar panels are worth it in most areas, though certain factors – including the cost of electricity, available incentives, the climate, and sun angle – will all impact how quickly you break even on your investment relative to other areas.
Can HOA take your home in Texas? ›A property owners' association can foreclose on the lien and trigger the sale of the property. The ability to create assessment liens is a power that is not automatically granted by Texas law. It must be specifically stated in the Declaration of Covenants, Conditions, and Restrictions.
How do I get rid of an HOA in Texas? ›The Dissolution Process
If the bylaws allow it, you can vote to dissolve the HOA. If the bylaws do not allow for dissolution, you can amend them to allow it, and then vote to do so according to the amended bylaws. You must get the consent of a majority of members to proceed (anywhere between 80-100%).
(AEP) Solar Rebate Texans that get energy from AEP are eligible for a cash incentive between $2,500 to $8,500 for the kW of solar power installed in their home. Customers are eligible for a cash incentive that ranges from $2,500 to $8,500 for the kW of solar power installed in their homes.
Which company did Shell Energy take over? ›In September 2021, Ofgem chose Shell Energy to take on the 255,000 customers of failed supplier Green Supplier Limited.
Who did Shell sell their Permian assets to? ›HOUSTON — Royal Dutch Shell sold its oil and gas production in the Permian Basin, the biggest American oil field, to ConocoPhillips for $9.5 billion in cash on Monday.
Is Shell affiliated with Russia? ›The UK-based company's biggest engagement in Russia is Sakhalin-2, which it describes as one of the world's largest integrated oil and gas projects. Shell has a 27.5% stake in the venture, which is controlled by Gazprom.
Is Shell linked to Russia? ›
The costs of Shell no longer doing business in Russia include quitting joint ventures with Gazprom. Shell was criticised when it bought Russian crude oil at a cheap price shortly after the war began.
Who is the best electric provider in Texas? ›Best Texas Electricity Provider: TXU Energy
Earning the highest Provider Score TXU Energy has earned ElectricityRates.com's Best Electricity Provider in Texas in 2023.
Oncor is the largest electric utility company in Texas and the fifth largest utility in the country. It serves more than 10 million Texans and has a distribution network spanning more than 139,000 miles across the Lone Star State. This utility company was founded in 1912 and is headquartered in Dallas.
Who owns Shell refinery in Texas? ›Dating to 1929, it was operated from 1993 to 2022 as a 50-50 joint venture between Shell US and Pemex. On May 24, 2021, Pemex and Shell reached an agreement for the sale of Shell´s interest in Deer Park Refining Limited Partnership, transferring full ownership of the refinery to Pemex, subject to regulatory approval.
Why is Shell being boycotted? ›Environmentalists continue to protest against Shell's plans to search for oil and gas deposits off South Africa's Wild Coast – a key tourist attraction – over concerns it could endanger marine life.
Is Shell a Mexican company? ›Shell Mexico is an operating company of the group Royal Dutch / Shell, which is active in the Mexican market since 1954. Within its activities are producing, supply, marketing and distribution of products and services along the energy chain, and also with the distribution of lubricants, oils and petrochemicals.