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In November 2021, EDF Energy agreed a deal with Octopus Energy Group to move its five million customers onto its Kraken platform. The customer accounts will be migrated onto Kraken from 2023, increasing the number of energy accounts contracted to be served via Kraken to over 20 million worldwide. [76]
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The company is now the second largest energy supplier in the UK, and has expanded to other markets including Japan and Australia. [ 10 ] [ 11 ] [ 12 ] The Financial Times reported in 2023 that "Octopus’s credentials as a disrupter have helped win the backing of investors including Generation Investment Management , chaired by former US vice ...
In September 2023, it was reported that Octopus Energy would acquire Shell's household energy business in the UK and in Germany, in a deal expected to complete in late 2023. Octopus would take over providing energy for 1.4 million homes as well as broadband services for 500,000 customers. [ 28 ]
Octopus Energy’s valuation has jumped to nine billion US dollars (£7.2 billion) after two of its biggest investors increased their stakes in the business.
Octopus Energy customers will be able to use “buy now, pay later” to fund and install solar panels as part of a new deal with digital lender Zopa Bank. ... Octopus charges about £9,200 for ...
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
Bulb Energy Ltd., trading as Bulb, was an energy supply company in the United Kingdom acquired by Octopus Energy in 2022. Founded in 2013, the company attracted venture capital from DST Global and Magnetar Capital and ran at a financial loss while achieving rapid growth in customers. [ 3 ]