Direct Energie
2020
$1.6B
Why
TotalEnergies acquired the French retail electricity and gas provider Direct Energie to instantly acquire 3 million residential customers, establish a dominant position in the European retail power market, and accelerate its integrated power strategy.
Impact
The acquisition provided TotalEnergies with a massive, established customer base and a proven retail platform, allowing the company to cross-sell its renewable power, EV charging, and energy efficiency services to a captive audience, bypassing the massive customer acquisition costs faced by new entrants.
Outcome
The acquisition was successfully integrated into the company’s Integrated Power segment, rebranded as TotalEnergies, and has become a critical component of the company’s strategy to capture the retail electricity margin in the European energy transition.