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Oil major Total targets expansion in retail power market

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The French energy group is on course to hit target ahead of schedule

Paris — Oil major Total is picking up about 150,000 retail energy customers a month in France and is on course to hit its 2022 target for the business ahead of schedule, company executives say.

CEO Patrick Pouyanne and Xavier Caitucoli, the head of Total’s power and gas business in Europe, told journalists that current trends make the target achievable before 2022. Pouyanne said that Total will leverage its brand recognition and petrol station network to win customers, with plans to offer 1 euro cent for every litre of petrol bought from its French forecourts to the first million clients that sign up for its residential electricity offer from June 1.The company also plans to expand its power generation capacity, particularly in gas and renewables.

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