4/26/2021, 7:26 PM (Source: TeleTrader)
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Chart for: BP PLC $0.25

BP to supply US households with clean energy

BP oil company filed an application with the United States Federal Energy Regulatory Commission to provide electricity, generated from clean energy sources to residential customers in California, Illinois, Ohio, Pennsylvania and Texas states.

The UK giant is creating a new subsidiary company called BP Energy Retail aimed at selling power directly to US households and businesses "at market-based rates". Before this move, BP had large trade agreements with big entities, such as cities, which purchased electricity units at wholesale prices.

BP Energy Retail will sell electricity generated from wind, solar and natural gas. The effort comes as part of the company's pledge to become a net-zero emissions business by 2050.

Baha Breaking News (BBN) / LH