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In March 2021 the Financial Times listed Octopus at number 23 on their list of the fastest growing companies in Europe. [22] In July 2021, Octopus rose 12 places on the UK Customer Service Index to 17th, making it the only energy company in the Top 50. [23]
Octopus Energy was established in 2015 as a retail electricity and gas supplier in the UK, and by December 2019, had over 1.35 million domestic and business customers. . Under the Octopus Energy Group brand, it has expanded into energy for business and energy services, and licences its customer handling software to other energy supp
Gas, 100% renewable electricity and customer service are supplied by Octopus Energy. [5] The Authority states that any profits will be invested into delivering the Mayor's social and environmental goals. [6]
Octopus’s customer base grew to 7.3 million across the UK during the year to April 2024, overtaking British Gas as the largest energy supplier in the country.
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Midcounties Co-operative announced the sale of its energy supply business, including Flow Energy, GB Energy and Co-op Energy, to Octopus Group for an undisclosed sum in August 2019. Customers were transferred to Octopus Energy, while Midcounties will continue to market and distribute energy products under the Co-op Energy brand. [13]
When an energy supplier goes out of business, customers are moved to a new supplier by Ofgem, to ensure continuity of electricity and gas supply. Due to sudden spikes in wholesale costs, an unusually high number of suppliers went out of business in 2021, resulting in several companies’ customers being migrated to supply with E.ON Next.
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