Octopus Energy Group

What Octopus Energy Group does

Octopus Energy Group is a UK-headquartered clean energy technology company founded in 2015 that operates 10 businesses across 18 countries on 4 continents, serving more than 7.2 million retail customers, 40,000+ business customers, and powering 50+ million contracted accounts globally. The company's core operating asset is Kraken, a proprietary cloud-native AI/ML energy management platform built on AWS and Databricks that processes over 300 million meter readings daily and ingests 10 trillion rows of data annually. Kraken automates utility billing, grid operations, demand-response programs, and customer self-service at a customer service cost of £15-20 per account versus the industry average of £40-60, and is licensed to third-party utilities including EDF Energy, E.ON, Origin Energy, Tokyo Gas, and Good Energy. In December 2025 Kraken was spun out as an independent entity at an $8.65 billion valuation following a $1 billion D1 Capital-led funding round.

The company generates revenue across four primary streams: (1) retail energy supply to residential and business customers across the UK, Germany, USA, Japan, New Zealand, Spain, Italy, and France (FY2025 revenue of £7.8 billion, up 26% YoY from £6.2 billion, with international operations representing 38% of the total); (2) Kraken technology licensing producing approximately £420 million in high-margin recurring revenue; (3) Octopus Energy Generation, which manages $4.5 billion+ of renewable generation assets across 300 projects in 8 countries (predominantly solar and onshore wind); and (4) business energy solutions including Octopus Fleet (EV fleet charging), Electric Juice (dynamic EV pricing), Panel Power (solar export), and Vertical Power (vertical farm tariffs). UK residential market share stands at approximately 25% following the acquisitions of Bulb (2022) and Shell Energy Retail (2023). Go-to-market combines direct-to-consumer retail via website and mobile app, enterprise B2B sales for fleet and business solutions, OEM embedded licensing of Kraken to third-party utilities, and strategic joint ventures including Swaptopus (battery swapping with CATL), Bitong Energy (China trading with PCG Power), and Project RISE (Ukraine solar/storage with DTEK). The company transitioned from operational losses to positive EBITDA margins by Q4 FY2025 and was valued at approximately $12 billion in early 2026.

Name

Octopus Energy Group

Legal name

Octopus Energy Ltd

Website

https://octopusenergy.group

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Octopus Energy Group is a UK-based clean energy technology company serving 7.2M+ retail customers across 18 countries, operating through 10 businesses spanning retail energy supply, EV solutions, renewable generation, and its proprietary Kraken AI/ML platform licensed to 50M+ utility accounts globally.

Ownership category

akta.pro rank

Product category

Retail Energy Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900), Electric Services (4911), Electric & Other Services Combined (4931)

akta.pro primary industry

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

akta.pro secondary industries

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Repowering, Augmentation & Retrofit Integration (Capacity Expansion) (EUAEAEAL)

Keywords

• Retail energy supply
• Renewable energy generation
• Energy management software
• Electric vehicle solutions
• Home battery storage

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Retail Energy Supply: Residential and business energy supply across UK, Germany, USA, Japan, New Zealand, Spain, Italy, France. Revenue grew 26% YoY to £7.8B+ in FY2025. International operations represent 38% of total revenue.
2. Kraken Technology Licensing: Proprietary software platform licensed to third-party energy retailers globally. Approximately £420 million in high-margin recurring revenue. Spun off as independent entity valued at $8.65B.
3. Octopus Energy Generation: $4.5B+ worth of generation assets across 300 projects in 8 countries, predominantly solar and onshore wind. Powers equivalent of ~1.2 million homes.
4. Octopus Electric Vehicles: Full-service EV offerings including financing, maintenance, home-charging installations, specific EV tariffs, and fleet solutions through Octopus Fleet platform.
5. Business Energy Solutions: Electric Juice (dynamic EV pricing), Panel Power (business solar export), Vertical Power (vertical farm tariffs), and Octopus Fleet for commercial fleet electrification.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Octopus Energy Group is a clean energy technology company that supplies renewable electricity and gas to residential and business customers across 18 countries, with 7.2+ million customers. The company develops and globally licenses Kraken, its proprietary AI/ML-powered energy management platform, which powers 50+ million accounts for third-party utilities including EDF, E.ON, Origin Energy, and Tokyo Gas. It also operates renewable generation assets worth $4.5B+ and offers EV solutions, home batteries, and solar installations.

Differentiator

Problem solved

Functional benefit

Brands

• Electric Juice: Dynamically priced 100% green electricity tariff for electric vehicles for business fleets
• Electric Juice Network
• Panel Power
• Vertical Power
• Powerloop
• Nook
• Powerbank
• Zero Bills
• Electroverse
• Fan Club
• Octopus Renewables
• AlphaConnect
• Octopus Fleet

Products and services

• Kraken Technologies

Quantifiable outcome

• 50x cost reduction in data engineering (from $23.63 to $0.48 per settlement date)
• +5 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature5 records

Partnerships

18 partnerships are on record, tiered supporting, core, flagship, major and minor.

• AlphaESSsupportingTechnology or Integration · 26 June 2026AlphaConnect software platform integrates with Octopus Energy in UK for intelligent energy scheduling. Deep integration across AlphaESS's 100,000+ systems in 12 countries.
• DTEKcoreStrategic or Co-development Partner · 25 June 2026EUR-100m Project RISE joint venture for solar and battery storage in Ukraine. Announced at Ukraine Recovery Conference in Gdansk. Uses Octopus Energy's Kraken battery management system with customers taking ownership after 10-year contract period.
• CATL (Contemporary Amperex Technology)flagshipStrategic or Co-development Partner · 22 June 2026Joint venture 'Swaptopus' to build Europe's first large-scale battery swapping network for electric trucks. First UK hubs launching 2027, targeting 30+ hubs and 300,000 electric trucks across Europe by 2035. Uses CATL's Qiji battery swap technology with £30 billion private investment.
• ZE EnergysupportingStrategic or Co-development Partner · 17 June 202699 MW battery energy storage system (BESS) investment in Sessa Aurunca, Campania, Italy. Largest standalone battery in south-central Italy, to store excess green power and deliver electricity for 130,000 homes.
• Lunar EnergycoreStrategic or Co-development Partner · 24 April 2026Partnership to offer PowerStore - battery-powered retail electricity plan in Texas deregulated market. 30 kWh Lunar Energy battery with no down payment under 36-month subscription. Octopus controls battery to provide grid services.
• Schneider ElectriccoreStrategic or Co-development Partner · 24 March 2026Schneider Electric remains significant minority partner in Uplight following Octopus Energy's majority stake acquisition. Schneider originally invested in Uplight in 2021 at $1.5B valuation. Partnership aims to enhance customer-centric flexibility management across North America.
• HumaxsupportingTechnology or Integration · 23 March 2026UK first V2G smart charger (MX7) partnership with Humax for smart pricing integration and solar charging solutions. Humax collaborating with Octopus Energy and OVO on smart pricing.
• NTPC Limited (India)majorStrategic or Co-development Partner · 19 March 2026MoU to explore collaboration across power sector including renewable energy, storage, grid flexibility, digital customer platforms, retail electricity supply, and green hydrogen. Focus on India, UK, and other regions.
• UK Power NetworkscoreTechnology or Integration · 17 March 2026First UK network operator to automatically approve V2G technology connection requests within seconds. Extended from existing rapid approval methods for low carbon technology.
• ForestsupportingGTM or Marketing Partner · 3 March 2026Partnership to supply zero-carbon electricity to Forest's ~20,000 London e-bikes and operational vehicles. Supports low-carbon urban mobility with employee and customer engagement programs.
• Geothermal Engineering LimitedsupportingStrategic or Co-development Partner · 27 February 2026Committed to purchasing at least 3 MW of output from United Downs geothermal plant in Cornwall under government CfD at £119/MWh. UK's first deep geothermal power plant.
• PolestarsupportingGTM or Marketing Partner · 26 February 2026'Polestar Energy' grid rewards service expanding to Germany and France. EV owners save up to €300/year on home charging by shifting to off-peak periods. Available in 12 European markets.
• Freenow (Lyft)supportingGTM or Marketing Partner · 15 February 2026Partnership with Freenow (by Lyft) offering taxi drivers in 180 European cities discounts on EV charging costs. Savings over 40%, potentially £1,100+ annually per driver.
• PCG Power (China)flagshipStrategic or Co-development Partner · 10 February 2026Joint venture 'Bitong Energy' marking Octopus Energy's entry into Chinese market. Targets green energy trading in China's spot power markets with goal to trade up to 140 TWh by 2030. JV expects annual profits of £50m and £500m valuation target.
• Samsung C&TmajorStrategic or Co-development Partner · 6 February 2026Samsung C&T sold Dunmore Solar Farm and Battery project (300 MW solar, 150 MW/300 MWh BESS) to Octopus Australia for ~$900M. Marks Samsung's first renewable project sale outside North America.
• VoltuscoreStrategic or Co-development Partner · 5 February 2026Partnership for US Flexibility-as-a-Service and Bring Your Own Capacity programs. Aggregates residential flexibility across PJM, MISO, New York, California markets for data centers from 2026.
• KuppasupportingTechnology or Integration · 11 November 2025Acquisition of Kuppa, a smart home-energy software startup. AI-driven platform enables virtual home energy assessments helping over 250,000 homes plan solar, heat pumps, and batteries.
• Tesla Energy VenturesminorGTM or Marketing PartnerFormer distribution partner for Tesla energy products in UK; Tesla obtained Ofgem license in March 2026 to supply electricity directly, ending reliance on Octopus.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• EDF Energy: Major UK electricity supplier and parent group Électricité de France; Kraken licensee for its UK customer accounts. Direct overlap with Octopus in UK retail energy and in operating a large incumbent customer book on Kraken's platform.
• E.ON: Large European utility with both retail and network operations that has licensed Kraken for parts of its customer base. Comparable because it straddles regulated distribution and competitive supply in the same geographies Octopus targets.
• Engie: Global utility with significant renewable generation and retail operations across Europe and the Americas. Comparable as a vertically integrated green energy incumbent and as a potential Kraken-adjacent platform partner.
• Centrica (British Gas): Owner of British Gas, the UK's largest legacy energy supplier with overlapping residential and business customer base. Comparable because it is competing with Octopus for the same UK retail accounts and home energy services.
• Iberdrola: Global renewable-heavy utility with significant retail presence across Europe, US (Avangrid), and Latin America. Comparable on renewable generation scale, vertical integration, and push into smart home / EV offerings.

Direct peers

• OVO Energy: UK-headquartered challenger energy supplier competing head-to-head with Octopus in residential retail; both rely on smart tariffs, EV offerings, and home energy products as core differentiators. Closest like-for-like competitor in the UK mass market.
• Origin Energy: Australian energy retailer and generator; ~23% shareholder in Octopus Group and Kraken licensee for ~4.5M Australian accounts. Operates in adjacent deregulated retail and renewable generation, sharing technology platform and investor alignment.
• Good Energy: UK renewable-focused energy supplier that licenses Kraken for its operations. Smaller scale than Octopus but a direct green-retail peer also built on Octopus's platform.
• Uplight: US-based grid flexibility and customer engagement platform for utilities; acquired majority stake by Octopus in March 2026 with Schneider Electric as minority. Comparable as the technology layer orchestrating demand-side flexibility, virtual power plants, and utility customer programs.

Emerging players

• Tesla Energy: Tesla's energy arm secured an Ofgem license in March 2026 to retail electricity directly in the UK, ending its prior distribution partnership with Octopus. Comparable as a tech-led entrant combining EV, batteries, solar, and now retail supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/OctopusEnergy
• Facebookfacebook.com/octopusenergy
• LinkedInlinkedin.com/company/octopus-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries15 records

Funding overview

Funding rounds9 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Octopus Energy Group