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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. [26] Also in 2021, Octopus built the UK's first R&D and training centre for the decarbonisation of heat. Located in Slough, the centre will train 1000 heat pump engineers per year and develop new heating systems. [27]
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
He founded Octopus Energy – a subsidiary of Octopus Group – in 2016, and by 2021 the company was valued at over $5 billion. [7] The company is now the second largest energy supplier in the UK, and has expanded to other markets including Japan and Australia.
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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 ]
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]
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In a 2023 review, the UK government regulator for the energy sector, Ofgem, found that British Gas had 'moderate weaknesses' with their customer service processes, alongside the majority of suppliers. [29] They are described as the "worst firm to be moved to" by MoneySavingExpert.com after a 2022 survey. [30] [non-primary source needed]