Octopus Energy Limited

What Octopus Energy Limited does

Octopus Energy Limited is a UK private limited company (company number 09263424) headquartered at UK House, 164-182 Oxford Street, London, operating as the primary retail and services subsidiary of Octopus Energy Group Limited. The company supplies electricity and gas to UK residential and business customers, selling exclusively direct through its website and mobile app. Its product portfolio spans standard fixed and variable tariffs alongside a family of smart, time-of-use tariffs (Intelligent Octopus Go, Agile Octopus, Octopus Tracker, Intelligent Flux, Outgoing Octopus, Octopus Fan Club) and a business line (Shape Shifters: Trio and Agile). Adjacent revenue streams include installation of solar panels with home batteries, air-source heat pumps under the Cosy brand, and home EV chargers, plus the Octoplus loyalty program and Octo Assist customer support fund.

The underlying technology stack is the proprietary Kraken platform, which automates much of the energy supply chain and is licensed to other energy companies globally, providing both operational leverage and a separate licensing revenue stream. Through the wholly-owned Octopus Electric Vehicles subsidiary, the group operates the UK's leading EV-only leasing company, having placed over 45,000 drivers on the road via salary sacrifice agreements with 7,500+ employers, funded by over £2 billion of raised capital. Electroverse integrates access to 1.3 million+ public EV charging points across the UK and Europe. Operational scale includes being the first company to install one million smart meters in a single year, with 74% of customer homes on smart meters and 150,000 EV batteries managed through the Go tariff. Vehicle-to-Grid partnerships with UK Power Networks, BYD, and Ford position the company in bidirectional EV grid services.

The business model combines recurring subscription-style energy supply revenue (monthly billing across all tariffs) with transactional hardware sales (solar, batteries, heat pumps, EV chargers), vehicle lease income, technology licensing royalties (Kraken), and emerging joint-venture revenue (Bitong Energy, a January 2026 JV with PCG Power for AI-powered electricity trading in China). The group operates through wholly-owned subsidiaries in Germany, Spain, France, Italy, Japan, New Zealand, and the USA, with approximately 9,700 employees globally as of 30 April 2025. Distribution is direct-to-consumer online with a B2B2C salary sacrifice channel for EV leasing, and the company maintains regulator-of-record status via Octopus Energy Services Ltd (FCA credit broker, firm reference 1033722).

Name

Octopus Energy Limited

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 Limited is a UK-based private energy supplier and subsidiary of Octopus Energy Group, selling electricity, gas, and decarbonization hardware (solar, batteries, heat pumps, EV chargers) directly to residential and business customers. It also operates Octopus Electric Vehicles (UK's leading EV-only leasing firm), licenses its Kraken technology platform globally, and runs the Electroverse EV charging network.

Ownership category

akta.pro rank

Product category

Retail Energy Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Consumer Electronics and Appliances Rental (532210)

SIC

Electric Services (4911), Electric & Other Services Combined (4931), Auto Controls For Regulating Residential & Comml Environments (3822)

akta.pro primary industry

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

akta.pro secondary industries

Charging Network Operators & CPOs Offering Smart Charging/V2G (EUAFAMAD), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs) (TLABAHAA), EV Charger Smart Load Integration with HVAC/Electrical Systems (HSAOANAK)

Keywords

• Retail energy supply
• Renewable electricity tariffs
• EV charging network
• Solar and battery installation
• Heat pump installation

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Energy Supply: Supply of electricity and gas to residential and business customers through standard and smart tariffs. Revenue generated from unit rates and standing charges.
2. Electric Vehicle Leasing: Octopus Electric Vehicles leases EVs to individuals and businesses through salary sacrifice schemes, funding vehicles through raised capital.
3. Solar Panel and Battery Installation: Sale and installation of solar panels and home batteries with flexible payment options, 25-year warranty.
4. Heat Pump Installation: Sale and installation of heat pumps under the 'Cosy' brand, eligible for £7,500 government grant.
5. EV Charger Installation: Installation of home EV chargers starting from £949.
6. Technology Licensing (Kraken): Licensing of Kraken technology platform to other energy companies globally, including international operations in Germany, Spain, France, Italy, Japan, New Zealand, and USA.
7. Joint Venture Operations (China): Joint venture Bitong Energy with PCG Power for AI-powered electricity trading in China, initially focusing on virtual power plants and aggregated trading in Guangdong.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Octopus Energy Limited supplies electricity and gas to UK residential and business customers under standard, fixed and smart (time-of-use/dynamic) tariffs. Beyond supply, it sells and installs in-home clean-energy hardware (solar panels, home batteries, air-source heat pumps, EV chargers, smart meters), operates the Electroverse public EV charging aggregation service, runs an EV leasing business (Octopus Electric Vehicles) via employer salary sacrifice, and licenses its proprietary Kraken platform to other utilities globally.

Product overview

Octopus Energy Limited is a UK-based energy supplier operating as a vertically integrated platform with a portfolio of interconnected energy products. The core offering centers on smart energy tariffs (Intelligent Octopus Go, Tracker, Agile, Flux, Outgoing, Fan Club) that leverage proprietary optimization algorithms and smart meter data to dynamically manage household and EV energy consumption. Key supporting products include the Electroverse EV charging network (accessing 1.3M+ public chargers), solar panel and battery installations, heat pumps, and the Octoplus rewards ecosystem with Saving Sessions and Power-ups flexibility services. For businesses, Shape Shifters (Agile and Trio variants) provides time-of-use tariffs. The company also operates through subsidiaries including Octopus Electric Vehicles (EV leasing) and licenses its Kraken technology platform to other energy companies globally. The Intelligent Octopus Go tariff serves as a hub connecting EV charging, home energy management, and grid flexibility through integration with third-party chargers and V2G technology.

Differentiator

Problem solved

Functional benefit

Brands

• Kraken: Proprietary technology platform that automates much of the energy supply chain
• Electroverse
• Octopus Electric Vehicles
• Intelligent Octopus Go
• Octopus Tracker
• Agile Octopus
• Octopus Flux
• Octopus Fan Club
• Cosy Heat Pump
• Octoplus
• Octo Assist
• Power-ups
• Saving Sessions
• Shape Shifters
• Octopus Energy Generation

Products and services

• Residential energy supply (electricity and gas) Direct-to-consumer supply of electricity and gas to UK homeowners and renters under standard, fixed and smart tariffs, with bill management via website and mobile app.
• Business energy supply and Shape Shifters tariffs Direct-sales energy supply for UK businesses using Shape Shifters — Trio (three rate-period tariff) or Agile (half-hourly wholesale-tracking) — and Panel Power commercial solar export.
• Octopus Electric Vehicles (EV leasing) EV-only leasing service for individuals and employees, delivered predominantly through employer salary-sacrifice agreements with over 7,500 UK employers, expanding into V2G bundles with BYD and Ford.
• Cosy Heat Pump (air-source heat pump) Sale, supply and installation by Octopus of air-source heat pumps (up to 4x efficiency vs gas boilers), eligible for £7,500 UK government grant.
• Solar Panels & Battery installation Sale and installation of solar panels with 25-year warranty and home battery storage, compatible with smart export tariffs (Outgoing Octopus, Intelligent Octopus Flux).
• Home EV Charger Installation Sale and installation of home EV chargers from £949, integrated with Intelligent Octopus Go for off-peak smart charging.
• SMETS2 Smart Meter Installation Installation of SMETS2 smart meters with automatic readings, accurate billing and smart-home integrations (Nest, Hive, SmartThings) including RNIB-approved accessible displays.
• Electroverse EV charging network Universal EV charging aggregation platform giving customers single-app, single-payment access to 1.3 million+ public charging points across the UK and Europe, integrated with Octopus tariffs.
• Electroverse Kerbside EV Charging (50% cheaper offer) Discounted kerbside EV charging service via the Electroverse platform targeted at drivers without off-street parking.
• Intelligent Drive Pack (unlimited smart EV charging add-on) £30/month subscription add-on for EV drivers providing unlimited scheduled smart home charging orchestrated against dynamic tariffs.
• Kraken Technology Platform (licensed) Proprietary end-to-end energy supply chain automation platform licensed to other energy retailers and utilities globally (Germany, Spain, France, Italy, Japan, New Zealand, USA and via the Bitong Energy JV in China).

Quantifiable outcome

• Approximately £600 per year savings for EV customers on Go tariff
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• UK Power NetworkscoreStrategic or Co-development Partner · 13 March 2026UK Power Networks and Octopus Energy partnership to deliver the UK's first instant-approval process for connecting Vehicle-to-Grid (V2G) chargers. This collaboration aims to accelerate deployment of technologies that allow electric vehicles to function as household 'mini power stations', representing a UK-first approach to streamlining the V2G connection process.
• PCG Power Development Co. Ltd.coreStrategic or Co-development Partner · 1 January 2026Joint venture Bitong Energy formed between PCG Power and Octopus Energy to introduce AI-powered electricity trading in China's liberalizing power market. The venture initially focuses on virtual power plants, aggregated trading, and sales in Guangdong Province.
• WWF (World Wide Fund for Nature)minorGTM or Marketing Partner · 1 March 2025Partnership supporting WWF's Earth Hour initiative, with Octopus Energy committing to donate £40,000 and engaging customers in Saving Sessions event to reduce energy use during the global awareness campaign.
• BYDcoreStrategic or Co-development PartnerPartnership with BYD for vehicle-to-grid technology through Octopus EV, positioning EVs as potential home power sources that could earn money for owners while stabilizing the national grid. This was described as a world-first V2G bundle launch in the UK.
• FordcoreStrategic or Co-development PartnerPartnership with Ford for vehicle-to-grid technology expansion, enabling EVs to potentially power homes and earn money for owners while supporting grid stability.
• Leroy Merlin (Enki Application)minorChannel Partner/ Reseller/ DistributorOctopus Energy is one of six partner suppliers on Leroy Merlin's Enki application, which connects to Linky smart meters to analyze household consumption and recommend electricity contracts with promised 10-15% savings.
• Various Grassroots Football ClubsminorGTM or Marketing PartnerGrassroots football kit sponsorship program, having given away over 50,000 free Octopus-sponsored kits to over 5,000 grassroots teams across the UK.

Scale indicators20 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• ScottishPower (Iberdrola): UK subsidiary of Iberdrola, one of the Big 6 incumbents and a major renewable-energy developer. Comparable to Octopus in combining retail energy supply with green generation investment and EV/smart-home offerings, but at materially larger scale.
• EDF Energy UK: UK arm of French utility EDF, one of the Big 6 incumbents offering residential and SME supply, EV tariffs, and low-carbon home solutions. Competes with Octopus on switching volume and increasingly on heat pumps and EV.
• British Gas (Centrica): The largest UK incumbent energy supplier and home-services provider, parent Centrica. Largest share of UK domestic energy accounts; competes head-on with Octopus on switching and increasingly on heat pumps, EV, and solar via Hive and local service operations.
• Engie: Global French utility with retail, renewable generation, and energy-services operations across Europe. Overlaps with Octopus Energy on pan-European retail supply (Engie has UK/EU residential offerings) and on green-energy / flexibility services.
• E.ON Next UK: UK retail arm of E.ON, one of the Big 6 incumbents, offering residential and SME energy supply with home solutions including EV, solar, and heat pumps. Direct competitor for switching share and adjacent home-electrification services.

Direct peers

• Ovo Energy: UK-based challenger retail energy supplier with renewable focus and smart-tariff offerings. Direct competitor to Octopus in residential and SMB energy supply, competing on green credentials, customer experience, and EV-related tariffs in the same UK switching market.
• BP Pulse (BP): BP's EV charging and home energy business operating one of the UK's largest public charging networks and offering home charger + tariff bundles. Competes with Octopus on integrated EV-charging products and on the Electroverse-style cross-network charging access proposition.
• Shell Energy Retail: Shell's UK retail energy arm offering home energy plus integrated EV charging solutions (Shell Recharge). Comparable to Octopus in combining commodity supply with EV-charging ecosystem access and bundled low-carbon hardware.

Emerging players

• Tesla Energy: Tesla's energy and Supercharger network business, including Powerwall, VPP, and bidirectional charging pilots. Adjacent to Octopus in EV ecosystem plus vehicle-to-home / V2G ambitions, though distribution model differs (auto-OEM + hardware) versus Octopus's retailer + tariff model.

Others

• National Grid ESO: UK electricity system operator and grid infrastructure owner. Not a direct competitor, but a critical counterpart and counterparty to Octopus's flexibility services (Saving Sessions, V2G, Power-ups) and a regulator-influencing party in any V2G and DNO access commercial framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/octopusenergy
• Facebookfacebook.com/OctopusEnergy

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries11 records

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 Limited