The UK, Netherlands, and Germany’s domestic energy and broadband sectors are among the choices the company considers.

Following the start of a “strategic review” of its domestic energy and telecoms supply operations, Shell has jeopardised more than 2,000 employees in the UK.

The oil and gas supermajor announced on Thursday that it had informed employees at Shell Energy, which has operations in Germany, the UK, and the Netherlands, that it had started researching its options for the company’s future, which may include leaving the industries altogether.

The UK company has 1.4 million energy consumers and roughly 500,000 broadband users.

The business stated that the choice was made in light of a strategy that calls for “continual options exploration to maximise the value of our portfolio and address performance in challenging market conditions.”

After purchasing First Utility in 2017 and renaming the company Shell Energy Retail in 2018, Shell entered the home energy supply industry. In 2021, it acquired the Post Office’s broadband customers. Today, it provides broadband across three tiers at varied speeds.

In 2022, as commodities prices climbed partly because Russia invaded Ukraine, the energy corporation and its rivals announced huge earnings from their oil and gas activities. Retail energy providers, however, have needed help lately, with around 30 UK operators going out of business, including Bulb, which fell into government administration before being acquired by Octopus Energy.

According to Shell energy, the future of Shell’s home retail companies had not yet been decided, and the evaluation process would take “a few months.”

“Our focus continues to ensure our customers in those nations continue to receive a dependable and affordable energy supply and to provide support for customers who are struggling with the cost of electricity and wider cost of living challenges,” the business stated.

In addition to its companies providing households in the US and Australia, Shell claimed that its wholesale and business-to-business energy supply divisions were unaffected.

The company will release its first results the following week for the first time since Wael Sawan replaced longtime leader Ben van Beurden.

The company is predicted to report adjusted annual profits of over $83 billion (£67 billion), up from $55 billion (£44 billion) the year before. This includes approximately $19 billion (£15 billion) in the year’s final quarter, compared to $16.3 billion (£13.2 billion) the year before.