REM: Shell enters Texas market with 100% renewable energy plans
Shell, Europe’s largest oil and gas company, is now offering 100% renewable electricity plans to eligible customers in Texas. The Shell Energy brand was launched in Texas on June 7.
Texas is the US’s second-largest state, with a population of almost 29mn. It has abundant renewable energy, especially onshore wind power.
"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," said Glenn Wright, vice president of renewables and energy solutions for Shell in the Americas. "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."
The move is important because oil and gas companies are futureproofing themselves by entering renewable and low-carbon energy. Especially interesting is that Shell’s move underscores how much European oil and gas firms have done this, while US fossil fuel firms have lagged.
Shell Energy will offer electricity to homes in competitive areas of the Energy Reliability Council of Texas (ERCOT) grid, which comprises most of Texas, with plans backed by renewable energy certificates that support generation from renewable resources. Renewable energy certificates are issued when 1 MWh of electricity is generated and delivered to the grid from a renewable energy resource.
"We continue to see opportunity in change," said Wright. "This expansion of our renewable offerings in the US allows us to build on our leadership in the energy transition."
In addition to a standard 100% renewable electricity plan, Shell Energy is offering a plan for electric vehicle (EV) drivers that features free charging during off-peak hours and a fixed electricity rate. For homeowners with rooftop solar panels, Shell Energy offers a solar buyback plan that gives customers credit for the excess solar power they export to the grid.