Octopus Energy

What Octopus Energy does

Octopus Energy is a UK-headquartered, privately held energy retailer supplying electricity and gas to residential and business customers, operating alongside a proprietary technology platform called Kraken that automates the energy supply chain and is licensed to other utilities globally. The company runs as a direct-to-consumer supplier through its website and mobile app, with approximately 9,700 employees and an estimated 25% share of the UK retail energy market, supported by 817,333 Trustpilot reviews at a 4.8-star rating and nine consecutive years as a Which? Recommended Provider.

The product portfolio spans core retail energy supply (standard and smart tariffs including Intelligent Octopus Go, Agile Octopus, Octopus Tracker, and Octopus Fan Club), business tariffs (Shape Shifters Trio and Agile), home electrification hardware (Cosy heat pumps, solar panels and batteries, EV chargers), EV leasing through Octopus Electric Vehicles, the Electroverse cross-network EV charging service, and demand-flexibility programs (Saving Sessions, Power-ups). Underlying these products is the Kraken platform, which handles energy procurement, customer billing, smart-meter orchestration, and tariff execution, and is offered to other energy companies as licensed software. The company also publishes a Cosy Heat Pump Fleet Performance Dashboard streaming real-time efficiency data from thousands of installed heat pumps.

Revenue is generated through retail energy supply margins on electricity and gas, hardware sales and installation of heat pumps, solar, batteries, and EV chargers, subscription add-ons such as the £30/month Intelligent Drive Pack, EV leasing, EV charging fees, and Kraken software licensing to third-party utilities. Go-to-market is exclusively direct-to-consumer via website, mobile app, phone, and email across nine country sites (UK, Germany, Spain, France, Italy, Japan, New Zealand, USA, plus presence in Australia and India), augmented by partnerships with banks, home developers, and grid operators. The company is founder-led by CEO Greg Jackson, with employee share ownership across permanent staff, and pursues an active capital-deployment strategy into green energy ventures such as Cultivo and Deep Green.

Name

Octopus Energy

Legal name

Octopus Energy Ltd

Website

https://octopus.energy

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Octopus Energy is a UK-based, privately held energy retailer supplying electricity and gas to residential and business customers, built on its proprietary Kraken platform, with an estimated 25% share of the UK retail energy market and operations across nine countries.

Ownership category

akta.pro rank

Product category

Retail Energy Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Household Appliances (3630)

akta.pro primary industry

EV Charging–Integrated Retail Supply (Home/SMB) (EUAGABAJ)

akta.pro secondary industries

Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), Charging Network Operators & CPOs Offering Smart Charging/V2G (EUAFAMAD), Heat Pump & Smart HVAC Controller Integration (HSAOANAD), EV Charging Network Management & Software Services (CPMS, Monitoring, Billing) (TLAKAMAG), Smart Energy Management (Meters, EV Chargers, Solar/Battery Monitors) Retail (CRACAGAI)

Keywords

• Retail electricity supply
• Renewable energy services
• Smart energy tariffs
• Residential heat pumps
• Electric vehicle charging

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Energy Supply (Residential & Business): Retail supply of electricity and gas to residential households and business customers. Standard tariffs are priced competitively against other large suppliers, with smart tariffs offering dynamic pricing based on wholesale costs.
2. Kraken Software Licensing: Licensing of proprietary Kraken technology platform to other energy companies globally. Octopus Energy Group operates as both retailer and software platform provider through Kraken.
3. Heat Pump Sales & Installation: Sale and installation of Cosy heat pumps with eligibility for £7,500 government grant. Heat pumps are built and installed by Octopus Energy.
4. Electric Vehicle Leasing: EV leasing through Octopus Electric Vehicles, offering salary sacrifice schemes for new EVs with intelligent smart charging integration.
5. Solar Panel & Battery Sales: Sale of solar panels with 25-year warranty and home batteries, offering up to 90% reduction in electricity bills. Flexible payment options available.
6. EV Charger Installation: Installation of EV chargers starting from £949, offering 86% savings vs public charging when powered at home.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Octopus Energy supplies electricity and gas to residential households and business customers across the UK through smart dynamic tariffs (Intelligent Octopus Go, Agile, Tracker, Shape Shifters). The company also sells and installs green home technology including Cosy air source heat pumps, solar panels and batteries, and EV chargers, alongside the Electroverse universal EV charging network. Its proprietary Kraken platform automates the energy supply chain and is licensed to other energy companies globally.

Product overview

Octopus Energy operates as a technology-driven energy supplier offering a unified platform combining energy supply (electricity and gas), smart home technology products, and electric vehicle services. The core offering consists of smart tariffs (Intelligent Octopus Go, Tracker, Agile, Fan Club) that enable time-of-use pricing and demand flexibility. This is complemented by home technology products including Cosy heat pumps, solar panels and batteries, and EV charger installation. The company operates Electroverse, a universal EV charging network across the UK and Europe. Additional services include loyalty program Octoplus with Saving Sessions and Power-ups, Zero Bills Homes partnerships, and Octo Assist customer support fund. Business offerings include Shape Shifters tariffs (Trio and Agile). The platform is supported by smart meter infrastructure (SMETS2) and the Kraken technology platform.

Differentiator

Problem solved

Functional benefit

Brands

• Octopus Energy Group: Parent group encompassing all Octopus Energy operations and subsidiaries
• Kraken
• Octopus Electroverse
• Octoplus
• Octo Assist
• Octopus Energy For Business
• Octopus Electric Vehicles

Products and services

• Intelligent Octopus Go Smart EV and home energy tariff that automatically schedules EV charging during cheaper, greener off-peak hours and provides six off-peak hours for home use every night, for UK residential customers with EVs.
• Agile Octopus Half-hourly residential electricity tariff with prices updating daily based on wholesale market conditions, allowing customers to save money by shifting usage from the 4pm-7pm peak period.
• Octopus Tracker Dynamic tariff that tracks the wholesale cost of energy with daily price updates, available for electricity, gas, or both for UK residential customers.
• Octopus Fan Club Wind turbine-linked tariff that offers customers up to 50% off their energy bills when wind turbines nearby are generating power, available through Octopus Energy Generation.
• Intelligent Octopus Flux Smart solar and battery tariff that enables customers with solar panels and home batteries to maximize earnings from their solar generation and potentially profit on electricity bills.
• Outgoing Octopus Solar export tariff for residential customers with solar panels, paying a flat rate for excess electricity exported to the grid.
• Shape Shifters: Trio (Business) Business energy tariff providing 21 hours of cheaper electricity daily with three set rates (night, day, peak) to help businesses reduce bills by shifting usage away from the 4-7pm peak.
• Shape Shifters: Agile (Business) Dynamic time-of-use business tariff with half-hourly prices changing based on wholesale energy costs, enabling businesses to save by monitoring and shifting usage patterns, with 75% of businesses saving money by joining without changing habits.
• Cosy Heat Pump Air source heat pump sold, built and installed by Octopus Energy, offering up to 4x efficiency compared to gas boilers, average savings of £370/year on bills, and eligibility for the £7,500 Boiler Upgrade Scheme government grant.
• Solar Panels & Battery Residential solar panel and home battery storage systems with a 25-year warranty, flexible payment options, and the ability to cut electricity bills by up to 90% when paired with export and battery tariffs.
• EV Charger Installation Home EV charger installation service starting from £949, offering 86% savings compared to public charging when powering up at home and integrating with smart tariffs.
• Electroverse Universal EV charging network providing one-tap access to over 20,000 UK charge points and hundreds of thousands of chargers across the UK and Europe, including a 50% cheaper kerbside charging offer launched April 2026.
• Kraken Technology Platform Proprietary technology platform that automates much of the energy supply chain, licensed to other energy companies globally and used by Octopus Energy Group itself as a retailer to procure and supply electricity, gas and associated services to residential and business customers.
• Panel Power (Business Solar Export) Commercial solar export tariff for UK businesses with solar panels, enabling them to earn revenue from excess solar generation exported to the grid.
• Smart Meter Installation SMETS2 smart meter installation service for UK households enabling automatic readings, smart tariff access, and integration with home energy management; Octopus was the first company to install one million smart meters in a single year.

Quantifiable outcome

• 89% of heat pump users satisfied with systems during cold weather vs 78% of gas boiler users (survey of 1,800 homes)
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• 1EnergyminorStrategic or Co-development Partner · 18 May 20261Energy is developing the Bradford Energy Network that will receive surplus heat from Deep Green's data center facility. Octopus Energy backs Deep Green which supplies heat to this network.
• Hill GroupminorStrategic or Co-development Partner · 24 March 2026Octopus Energy has partnered with developers including Hill Group to offer 'zero bills' homes where residents with heat pumps, solar panels, and batteries are guaranteed to pay nothing for energy for at least five years.
• UK Power NetworkscoreStrategic or Co-development Partner · 13 March 2026Partnership to deliver the UK's first instant-approval process for connecting Vehicle-to-Grid (V2G) chargers, aiming to accelerate deployment of technologies that allow electric vehicles to function as household 'mini power stations'. Collaboration represents a UK-first approach to streamlining V2G connection.
• WWF (World Wide Fund for Nature)minorGTM or Marketing Partner · 22 March 2025Octopus Energy supported WWF's Earth Hour with a unique Saving Sessions takeover, donating £40,000 to support WWF's conservation work and inviting customers to reduce energy use for 60 minutes.
• Lloyds BankminorStrategic or Co-development PartnerLloyds Bank offered to foot the bill for standard heat pump installations by Octopus Energy for customers who accepted first illustration for new mortgage or switch deals between mid-October and late November.

Scale indicators17 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tibber: European digital-first retail energy supplier operating across multiple European markets with dynamic smart tariffs. Comparable to Octopus on the tech-led, multi-country retail model and dynamic pricing strategy.
• OVO Energy: Direct UK-headquartered retail energy supplier with smart tariffs, EV charging, and heat pump offerings. Closest like-for-like competitor to Octopus's residential energy retail and home energy services bundle.
• Eneco: Dutch renewable-focused retail energy supplier with heat pump, solar, and EV offerings across Europe. Closely comparable to Octopus on integrated home energy services and multi-country retail strategy.

Broad incumbents

• Pod Point (EDF): UK EV charging network and hardware supplier now owned by EDF. Comparable to Octopus Electroverse and EV Charger Installation, particularly the kerbside/on-street charging segment.
• Shell Energy: UK retail energy arm of Shell offering home energy, broadband, and EV solutions. Overlaps with Octopus on residential supply and EV, but competes from within a much larger oil-and-gas parent.
• British Gas (Centrica): Largest legacy UK energy supplier with broad generation, retail, and home services including Hive smart home. Competes with Octopus across residential supply and home energy products but as a diversified incumbent with deeper balance sheet.
• E.ON Next: UK retail energy brand of E.ON offering electricity, gas, solar, EV, and heat pump solutions. Directly comparable to Octopus's integrated home energy proposition but as a wider portfolio offering from a major European utility.
• ScottishPower: UK energy supplier (part of Iberdrola) with renewable generation and retail offerings. Comparable to Octopus on residential supply and renewables, though operating within a broader Iberdrola portfolio.
• EDF Energy: Major UK retail energy supplier (part of EDF Group) with significant generation assets. Competes with Octopus in residential and business supply, including EV charging via Pod Point.

Emerging players

• ev.energy: Smart EV charging platform that integrates with utilities and chargers to optimize charging times. Comparable to Octopus's Intelligent Octopus Go tariff and Electroverse in the smart EV charging software layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/octopusenergy
• YouTubeyoutube.com/watch?v=cAsA43gNDGw
• Facebookfacebook.com/OctopusEnergy

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Octopus Energy