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Octopus Energy Group is a British renewable energy group. It was founded in 2015 with the backing of Octopus Group, a British asset management company.Headquartered in London, the company has operations in the United Kingdom, France, Germany, Italy, Spain, Australia, Japan, New Zealand and the United States.
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
Octopus charges about £9,200 for installing 10 panels and a five kilowatt hour (kWh) battery. Octopus Energy launches ‘buy now pay later’ for its solar panels (Leon Neal/PA)
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 ...
Energy company said it has kicked off the spending drive by buying four solar farms set to be built over the next two years across England. Octopus says it will invest £2bn in UK clean power ...
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 Renewables Infrastructure Trust (ORIT) is a British investment trust which invests in renewable electricity generation assets in countries in Europe and Australia. [1] It floated on the London Stock Exchange in December 2019, raising £350m.
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]
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