We're on a mission to make a big green dent in the universe by building a truly sustainable energy system globally.

That means making power greener, smarter, and more affordable for everyone.

We put customers at the heart of everything we do: with always-fair prices, transparency and outrageous customer service.

We drive system change: with transformative tech to make renewable energy the norm and end global reliance on fossil fuels.

Octopus Energy Group is made up of 10 businesses spanning 6 countries across 3 continents, including: Octopus Energy Retail, Kraken Technologies, Octopus Energy Generation, Kraken Flex, Octopus Electric Vehicles, and the Octopus Centre for Net Zero. More on OEG @ octopusenergy.group


Octopus Energy

Proactive Investors - British Gas, owned by Centrica PLC (LON:CNA), has ramped up the price war for heat pumps, cutting the price of the green boiler alternatives by thousands.

Despite an market prices said to average £8,000 and range up to £17,000, British Gas said it will charge £2,999 for heat pumps in England and Wales, or £499 in Scotland due to a higher government grant.

It also claimed to be operating a heat pump price-match scheme.

This follows Octopus Energy, which in November cut the costs of its heat pumps to £3,000 as part of a pilot scheme with Lloyds Banking Group PLC (LON:LLOY), with customers of the lender's Halifax arm getting a heat pump for £2,000.

Heat pumps work by compressing air to heat it up and then circulating it through buildings, ultimately providing a greener alternative to boilers.

Octopus said the heating systems use four times less energy than gas boilers and can cut a household's carbon footprint by up to 73%

The government has set a target for 600,000 heat pumps to be installed in the UK by 2028 as part of its net-zero strategy, offering a £5,000 grant for the pumps in England and Wales, while in Scotland this can be as high as £7,500.

Trade body Energy and Utilities Alliance (EUA) warned that targets for rolling out heat pumps are unrealistic however, suggesting that thousands more engineers will be needed for these to be met.

With there being an estimated 3,000 engineers in 2022, the EUA said this figure would have to climb to close to 140,000 by 2028 for government targets to be met, also outlining the costs for switching rural households from oil systems could exceed £10,000 each.

The EUA has previously suggested a mixed rollout of hydrogen ready boilers and heat pumps will be needed, ahead of proposed plans to introduce a hydrogen-blend into the UK's gas supply.

Centrica's British Gas joins Octopus Energy in heat pump price war By Proactive Investors

The energy retailer teams up with Enphase Energy to integrate household solar and batteries in energy plans and create a Virtual Power Plant in Texas

Renewable energy retailer Octopus Energy U.S. today announced a new partnership with Enphase Energy, Inc., the world's leading supplier of microinverter-based solar and battery systems. Octopus Energy customers now have the opportunity to integrate Enphase home solar and battery solutions in their energy plan to unlock low-cost residential energy rates. As part of the agreement, Octopus Energy will be able to flexibly control the customer's battery to reduce usage when the grid is the most constrained and help save customers hundreds of dollars each year.

Octopus Energy to Power Homes with Solar Batteries as Customers Seek Greener, Cheaper, and More Reliable Energy  | AltEnergyMag

A look inside the Enphase Encharge battery, with the multiple microinverters inside.

Renewable energy retailer Octopus Energy U.S. announced a new partnership with Enphase Energy. Octopus Energy customers now have the opportunity to integrate Enphase home solar and battery solutions in their energy plan to unlock low-cost residential energy rates. As part of the agreement, Octopus Energy will be able to flexibly control the customer's battery to reduce usage when the grid is the most constrained and help save customers hundreds of dollars each year.

With Kraken Flex, Octopus Energy's proprietary software platform for managing, controlling, and optimizing Distributed Energy Resources (DERs), Octopus Energy plans to create a Virtual Power Plant with the Enphase home battery systems, and will be bidding these DERs in the Electric Reliability Council of Texas (ERCOT) ancillary markets, a first of its kind for these assets. Octopus Energy can optimize how a customer's battery interacts with the electric grid through Intelligent Octopus, its smart device retail energy plan, customers can access the cheapest retail rates.

As Octopus Energy expands its retail energy presence to states outside of Texas, the company hopes to take advantage of this partnership, which both reduces costs for customers and promotes a cleaner grid.

"Our partnership with Enphase Energy is a critically important step as we accelerate the renewable energy transition across the U.S. Load flexibility creates enormous value in high-renewable energy grids and energy retailers have a unique ability to customize electric rates for customers, so this a perfect opportunity to integrate the value of demand response into a retail product to create the cheapest rates for customers. Retailers have the opportunity to lead the energy transition by combining customer-centric product offerings, modern technology, and rate-making authority to create products that lower costs and truly lower carbon," said Michael Lee, CEO of Octopus Energy U.S. "We look forward to working with Enphase Energy as we grow a wide variety of low cost and innovative rates to decarbonize our electric grid."

Octopus Energy and Enphase's partnership comes as policymakers around the globe look to leverage emerging technologies to hasten the shift to renewables, as well as eliminate barriers to clean energy growth. With Enphase Energy, Octopus Energy will enable customers to optimize their home energy system around easy participation in ancillary markets and demand response programs for immediate savings.

Enphase inks Texas VPP deal with Octopus Energy

The energy retailer teams up with Enphase Energy to integrate household solar and batteries in energy plans and create a Virtual Power Plant in TexasHOUSTON, January 19, 2023-(BUSINESS WIRE)-Renewable energy retailer Octopus Energy U.S. today announced a new partnership with Enphase Energy, Inc., the world's leading supplier of microinverter-based solar and battery systems. Octopus Energy customers now have the opportunity to integrate Enphase home solar and battery solutions in their energy plan to unlock low-cost residential energy rates. As part of the agreement, Octopus Energy will be able to flexibly control the customer's battery to reduce usage when the grid is the most constrained and help save customers hundreds of dollars each year.With Kraken Flex, Octopus Energy's proprietary software platform for managing, controlling, and optimizing Distributed Energy Resources (DERs), Octopus Energy plans to create a Virtual Power Plant with the Enphase home battery systems, and will be bidding these DERs in the Electric Reliability Council of Texas (ERCOT) ancillary markets, a first of its kind for these assets. Octopus Energy can optimize how a customer's battery interacts with the electric grid through Intelligent Octopus, its smart device retail energy plan, customers can access the cheapest retail rates.As Octopus Energy expands its retail energy presence to states outside of Texas, Octopus Energy hopes to take advantage of this partnership, which both reduces costs for customers and promotes a cleaner grid."Our partnership with Enphase Energy is a critically important step as we accelerate the renewable energy transition across the U.S. Load flexibility creates enormous value in high-renewable energy grids and energy retailers have a unique ability to customize electric rates for customers, so this a perfect opportunity to integrate the value of demand response into a retail product to create the cheapest rates ...

Octopus Energy to Power Homes with Solar Batteries as Customers Seek Greener, Cheaper, and More Reliable Energy - Yahoo Finance - RocketNews

With Kraken Flex, Octopus Energy's proprietary software platform for managing, controlling, and optimizing Distributed Energy Resources (DERs), Octopus Energy plans to create a Virtual Power Plant with the Enphase home battery systems, and will be bidding these DERs in the Electric Reliability Council of Texas (ERCOT) ancillary markets, a first of its kind for these assets. Octopus Energy can optimize how a customer's battery interacts with the electric grid through Intelligent Octopus, its smart device retail energy plan, customers can access the cheapest retail rates.

As Octopus Energy expands its retail energy presence to states outside of Texas, Octopus Energy hopes to take advantage of this partnership, which both reduces costs for customers and promotes a cleaner grid.

"Our partnership with Enphase Energy is a critically important step as we accelerate the renewable energy transition across the U.S. Load flexibility creates enormous value in high-renewable energy grids and energy retailers have a unique ability to customize electric rates for customers, so this a perfect opportunity to integrate the value of demand response into a retail product to create the cheapest rates for customers. Retailers have the opportunity to lead the energy transition by combining customer-centric product offerings, modern technology, and rate-making authority to create products that lower costs and truly lower carbon," said Michael Lee, CEO of Octopus Energy U.S. "We look forward to working with Enphase Energy as we grow a wide variety of low cost and innovative rates to decarbonize our electric grid."

"We are pleased to partner with Octopus Energy to bring home solar and batteries to homeowners in Texas, helping them better manage their electricity costs and creating a more resilient energy system for everyone," said Dave Ranhoff, Chief Commercial Officer at Enphase Energy. "Our partnership is just beginning. We look forward to expanding to new markets with world-class products and services to advance a more sustainable future together."

Octopus Energy and Enphase's partnership comes as policymakers around the globe look to leverage emerging technologies to hasten the shift to renewables, as well as eliminate barriers to clean energy growth. With Enphase Energy, Octopus Energy will enable customers to optimize their home energy system around easy participation in ancillary markets and demand response programs for immediate savings.

This is the latest step in Octopus Energy's mission to enable a smarter, greener future across the globe. One of the most awarded energy companies in the United Kingdom, where the company was founded five years ago, Octopus Energy entered the U.S. market in 2020. In 2022, the retailer launched Octopus Electric Vehicles, its integrated demand response EV leasing plan that accelerates accessibility and adoption of EVs and smart charging, as well as Intelligent Octopus, a smart demand response plan which lowers electric rates by up to 30 percent just by allowing Octopus to automate smart charging for the customer.

To learn more about Octopus Energy, visit octopusenergy.com.

To learn more about Enphase, visit https://enphase.com/.

About Octopus Energy

Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying over 3.2 million customers globally with 100% green electricity at a cheaper price and with a focus on incredible customer service. Founded six years ago as a global energy retailer, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company's global expansion. Octopus Energy is valued at nearly $5 billion and is one of energy-tech's fastest-growing private companies. To learn more, visit: www.octopusenergy.com.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 52 million microinverters, and over 2.7 million Enphase-based systems have been deployed in more than 145 countries. For more information, visit https://www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.

Octopus Energy and Enphase Energy - Octopus Energy to Power Homes with Solar Batteries as Customers Seek Greener, Cheaper, and More Reliable Energy

Renewable energy retailer Octopus Energy united state introduced a new collaboration with Enphase Energy. Octopus Energy customers now have the opportunity to integrate Enphase home solar as well as battery solutions in their energy plan to unlock low-cost household energy rates. As part of the agreement, Octopus Energy will certainly be able to flexibly control the customer's battery to lower usage when the grid is the most constrained and also help save customers numerous dollars yearly.

With Kraken Flex, Octopus Energy's proprietary software platform for handling, managing, as well as enhancing Distributed Energy Resources (DERs), Octopus Energy plans to develop a Virtual Power Plant with the Enphase home battery systems, and also will certainly be bidding these DERs in the Electric Reliability Council of Texas (ERCOT) ancillary markets, an initial of its kind for these assets. Octopus Energy can enhance just how a customer's battery engages with the electric grid with Smart Octopus, its smart tool retail energy plan, customers can access the cheapest retail rates.

As Octopus Energy increases its retail energy visibility to states outside of Texas, the business hopes to make use of this partnership, which both reduces prices for customers as well as promotes a cleaner grid.

" Our partnership with Enphase Energy is a critically vital step as we speed up the renewable energy shift across the united state Tons flexibility creates enormous value in high-renewable energy grids as well as energy retailers have a special capability to tailor electric rates for customers, so this an excellent chance to incorporate the value of need action into a retail product to create the cheapest rates for customers. Retailers have the opportunity to lead the energy shift by integrating customer-centric item offerings, contemporary technology, and also rate-making authority to create products that reduced expenses as well as really reduced carbon," claimed Michael Lee, CEO of Octopus Energy united state "We look forward to dealing with Enphase Energy as we grow a wide range of affordable and also ingenious rates to decarbonize our electric grid."

Octopus Energy and Enphase's collaboration comes as policymakers around the world seek to leverage arising modern technologies to hasten the change to renewables, as well as eliminate barriers to clean energy development. With Enphase Energy, Octopus Energy will enable customers to enhance their home energy system around easy engagement in ancillary markets as well as need response programs for immediate cost savings.

Enphase inks Texas VPP handle Octopus Energy

CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and...

Octopus Energy has topped a well-known annual customer survey, after winning over households with its customer service and value for money.

The supplier was named a Which? recommended provider for the sixth year in a row, with the consumer advocates calling for energy firms to do more to support customers in a cost of living crisis.

Which surveyed over 10,000 members of the public in October 2022, to rate the performance of suppliers since the energy crisis.

It also conducted an in-depth assessment of suppliers' practices and procedures in three areas - how well they conduct customer service, how they deal with complaints and how they support customers in need.

The average customer score was 54 percent this year - lower than it was in January 2022 (59 percent) and 2021 (64 percent).

Octopus Energy came top with a combined score of 78 percent - reflecting both the customer survey and Which's assessment of suppliers' practices .

It was the only provider to receive the Which recommendation in this year's survey.

Octopus was also the only provider to receive a five-star rating in any category - with customers awarding five stars for usefulness of information about energy costs.

It received a four-star rating for every other category.

The energy firm's customers were most likely to recommend their supplier - with nearly nine in ten (87 percent) saying they would recommend it.

Octopus chief executive Greg Jackson told City A.M.: "Octopus has always been determined to put customers first. No company is perfect, but this survey helps highlight the importance of looking after customers and we'll continue striving to do all we can.

"From providing electric blankets to help our most vulnerable customers, to paying customers to help National Grid avoid blackouts, we're determined to lead the way in making the sector better."

Utilita came in second place with a combined score of 67 percent.

However, it ranked much higher in Which's assessment of supplier practices (75 percent) than in the customer survey (59 percent).

Scottish Power and SSE lag behind Octopus

At the other end of the scale, Scottish Power came at the bottom of the Which's assessment of supplier practices with a score of 53 percent.

However, it received just three points for its complaints performance.

Shell Energy and SSE Energy Services came bottom of the customer survey with overall scores of 48 and 46 percent respectively.

This included Shell Energy which received just one star for value for money in the survey and its customers were least likely to recommend it to others.

Just under half (47 percent) of Shell customers said they would recommend the firm - compared to an average six in 10 (61 percent) across all firms.

Meanwhile, SSE Energy Services only got one star for three of the aspects in Which's customer satisfaction survey, including the clarity of its communication about the energy market.

Over half (54 percent) of SSE Energy Services customers complained about an issue with their bill.

Firms need to do more as energy crisis bites

Which recently launched a cost of living campaign calling on essential businesses - including energy firms - to do more to support their customers through the cost of living crisis.

In particular, it argued energy firms should ensure that their customer service is running as smoothly as possible.

With more people likely to be needing to get in touch with their provider during the cost of living crisis, Which argued consumers should not be left struggling to seek support or have their issue resolved.

It also called on firms to ensure customers on prepayment meters - who are more likely to be vulnerable and on lower incomes - are able to access government support, and prioritise them in their smart meter roll-outs where appropriate.

Rocio Concha, Which's director of policy and advocacy, said: "While customers are choosing to stay put due to a lack of deals in the energy market, our research has found that some firms are falling far short of meeting their customers' needs during the cost of living crisis.

Octopus Energy Tops UK Consumer Survey | OilPrice.com

FRANKFURT/DUESSELDORF, Jan 10 (Reuters) - Britain's Octopus Germany, a relatively new entrant to the electricity and gas retail market, has postponed its target of one million German customers by the end of of 2025 after soaring wholesale prices caused a two-month downturn last year.

"We had to put our expansion on hold for a while," German chief executive Andrew Mack said in an interview.

"Our ambition is still to reach one million retail customers within three years," he added.

In Britain, the company's low-overhead model allowed it to make big inroads quickly in the market and in late December it received further impetus when it completed a takeover of collapsed rival Bulb under a retainer. of 4.5 billion pounds (5.47 billion dollars) linked to a government loan which is however repayable.

"I don't see anything that could disrupt the acquisition," Mack said.

Recent declines in wholesale energy prices will be helpful for suppliers like Octopus, as it takes less money to purchase wholesale volumes, and for customers, as exorbitant price pressure eases, a- he declared.

"Right now, energy looks much more affordable than it did just a month ago," he said.

"We are able to pass these price cuts on to consumers very quickly," he said, adding that assessments were done weekly.

Dutch gas prices for one-month delivery last month halved to 70 euros per megawatt-hour, while remaining more than three times their pre-2021 levels.

The drastic reduction in supplies from Russia following its invasion of Ukraine has driven prices up in 2022, but European countries have now replenished their gas stocks and the current winter is mild.

Moving on to Germany-specific targets, Mack said Octopus is supporting its retail business with onshore wind assets, purchased by Octopus Energy Generation, in line with the group's environmental strategy.

Octopus believed that electric heat pumps to replace oil and gas boilers in German homes were the most suitable complementary service to home energy contracts.

Currently, these pumps only heat 2.7% of German homes, while gas represents 49.3% and fuel oil 24.7%.

($1 = 0.8222 pounds)

Octopus Energy will slow German expansion - ExBulletin

FRANKFURT/DUESSELDORF (Reuters) -Britain's Octopus Germany, a relatively new market entrant for retail electricity and gas, is seeking one million German customers by the end of 2025 after wholesale price surges caused a two-month stop in customer acquisitions last year.

"We needed to pause our expansion for a while," said German Chief Executive Andrew Mack in an interview.

"Our ambition is still to reach a million retail customers within the next three years," he added.

"We launched our heat pump business in the middle of last year and it really starts ramping up now."

In Britain, the company's low overhead model has allowed it to make large inroads in the marketplace quickly and in late December, it received a further push by closing a takeover of collapsed rival Bulb under a 4.5 billion pound ($5.47 billion) provision linked to a government loan that is, however, repayable.

"I don't see anything that will disrupt the acquisition," said Mack.

Recent falls in wholesale energy prices will be helpful for suppliers like Octopus because less money is needed to buy wholesale volumes, and for customers, as pressure from sky-high prices is easing, he said.

"Right now, energy is looking much more affordable than it was even a month ago," he said.

"We are able to pass on those price falls to consumers very quickly," he said, adding assessments were made weekly.

German customers have been increasingly attracted to digital energy vendors, with many frustrated by locked-in price deals with little transparency and the bureaucracy of trying to communicate on adjustments and price changes with some traditional players.

Dutch gas prices for delivery in a month last month halved to 70 euros per megawatt hour, although remaining at over three times their pre-2021 levels.

The drastic curtailment of supplies from Russia following its invasion of Ukraine sent prices spiralling up in 2022 but European countries have now replenished gas stocks and the current winter is mild.

Moving to Germany-specific goals, Mack said Octopus was backing its retail business with onshore wind assets, bought by Octopus Energy Generation, in line with the group's environmental strategy.

Octopus believed that electric heat pumps to replace oil and gas heating boilers in German households were the most suitable add-on service to household energy contracts.

Currently, such pumps heat only 2.7% of German homes while gas accounts for 49.3% and oil for 24.7%.

Octopus Energy targets 1 million German customers by 2025

Octopus Energy's engineering arm, Octopus Energy Services, which already installed electric vehicle chargers, air-source heat pumps and smart meters, is now also installing solar panels. The company is aiming to quickly ramp up the rollout, targeting 5,000 installations in 2023. The new service is launching across the Midlands and the South, with a view to expand it nationwide within the first year.

In addition to the bespoke solar panel installation service, Octopus customers will be able to choose from a range of solar batteries, allowing them to store the green energy they produce and sell it back to the grid when it's convenient for them.

They will have access to what Octopus says are the UK's highest-paying energy export tariffs:

Agile Outgoing links a customer's payments to wholesale energy prices that day. According to Octopus, this is the best value export tariff on the market. Between September 2021 and September 2022, customers on this tariff were paid 34p/kWh on average, with payments going up to £1.29/kWh in the last year.

Fixed Outgoing pays the best fixed rate export prices in the country. Customers are paid 15p/kWh exported back to the grid - three times more than any other UK energy supplier (the next best tariff offers 5p/kWh).

Octopus says that customers with solar panels and a solar battery who choose the Agile Outgoing tariff could save up to 90 percent on their electricity bills compared to customers on a standard variable tariff.

To enable this feat, Octopus is planning to create nearly 200 new green jobs in their solar division, ranging from engineers and surveyors to tech and operations support, and based across the UK.

Octopus Energy's stable of installation technology and proprietary tech now allows eligible properties to exist without energy bills. By installing solar PV, a solar battery and a heat pump, houses can become 'Zero Bills' properties.

'Zero Bills' is an Octopus certification that means homeowners do not pay a single energy bill. This was trialled with an initial pilot with Ilke Homes in Essex, where 22 eligible homes are sold with the option of being 'Zero Bills', with the aim to increase this to 10,000 homes by 2030.

"Given the success we have had in scaling and installing huge swathes of smart, green home energy tech, we are champing at the bit to begin installing the last piece of the puzzle, solar photovoltaic" said John Szymik, CEO of Octopus Energy Services. "If more homes in the UK produce clean, green solar energy, we will be able to accelerate the energy transition and bring down system prices for everybody by lowering system costs. In true Octopus style, we'll focus on reducing solar installation times down to record levels, hoping to soon make solar panels affordable for everyone."

For additional information:

Octopus Energy

PV - Octopus Energy enters solar installation market - Renewable Energy Magazine, at the heart of clean energy journalism

The energy provider is to offer solar panels, batteries, and heat pumps in bid to create 10,000 'Zero Bills' homes by 2030

Octopus Energy has continued to step up its expansion plans today, with the announcement it is entering the domestic solar installation as part of plans to help customers save up to 90 per cent on their electricity bills.

The energy provider announced its engineering arm, Octopus Energy Services, will now install solar panels alongside its existing offering of electric car chargers, air-source heat pumps, and smart meters.

"Given the success we have had in scaling and installing huge swathes of smart, green home energy tech, we are champing at the bit to begin installing the last piece of the puzzle, solar photovoltaic," said John Szymik, chief executive at Octopus Energy Services. "If more homes in the UK produce clean, green solar energy, we will be able to accelerate the energy transition and bring down system prices for everybody by lowering system costs."

Octopus Energy said it now plans to complete 5,000 installations this year. The new service is initially launching in the Midlands and the South, with a view to expanding nationwide later this year.

In addition to the new bespoke solar panel installation service, Octopus Energy customers will also be offered access to a range of solar batteries that aim to allow customers to store the green energy they produce and sell it back to the grid.

Customers will have access to both the Agile Outgoing and Fixed Outgoing energy tariffs, which pay households for the power they export to the grid.

The Agile Outgoing tariff links a customer's payments to wholesale energy prices that day and according to Octopus is "the best value export tariff on the market" with customers on the tariff paid 34p/kWh on average between September 2021 and September 2022, with payments going up to £1.29/kWh in the last year.

Octopus added that the Fixed Outgoing tariff pays the best fixed rate export prices in the country, where customers are paid 15p/kWh exported back to the grid - which the company said was three times more than any other UK energy supplier.

Octopus has estimated that customers with solar panels and battery storage systems who choose the Agile Outgoing tariff could save as much as 90 per cent on their electricity bills when compared to a customer on a standard variable tariff.

With its new solar installation service added to its renewable offering, Octopus said that eligible properties that install solar photovoltaic (PV), a solar battery, and a heat pump could become 'Zero Bills' properties.

'Zero Bills' is an Octopus certification that results in homeowners not paying a single energy bill. The approach was trialled through a pilot project with developer Ilke Homes in Essex, where 22 eligible homes were sold with the option of the becoming 'Zero Bills' properties. Octopus said it aims to increase the number of 'Zero Bill homes to 10,000 by 2030.

Octopus Energy enters domestic solar installation market 

Britain's Octopus Energy is entering the home solar market with plans to quickly ramp up the service and achieve 5,000 installations in 2023, according to an announcement today.

The company said that its engineering arm, Octopus Energy Services, will now start installing solar panels in addition to electric vehicle chargers, air-source heat pumps and smart meters.

The new service will initially be available in the Midlands and the South, with an intention to expand across the country within the first year.

Octopus will also offer customers solar batteries and export tariffs under its Agile Outgoing and Fixed Outgoing propositions, which provide payments linked to wholesale energy prices or a fixed rate. According to the company, homeowners with solar panels and a solar battery who pick the Agile Outgoing tariff could save up to 90% on their electricity bills. It further says that eligible properties can become "Zero Bills" properties by installing solar panels, a solar battery, and a heat pump.

"In true Octopus style, we'll focus on reducing solar installation times down to record levels, hoping to soon make solar panels affordable for everyone," said John Szymik, chief executive of Octopus Energy Services.

The new business is expected to create almost 200 jobs across the UK.

Octopus Energy starts offering solar installations to British homes

Bacteria covered in solar panels could produce renewable energy

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Octopus Energy has announced today that it will be adding solar panels to its catalogue of home energy tech -- with the potential to "slash" their customers' electricity bills. The company said that they are looking to make 5,000 installations in 2023, with the service to launch across the Midlands and the South first before going nationwide later this year. The new offering comes via the firm's engineering arm -- Octopus Energy Services -- which already installs air-source heat pumps, electric vehicle chargers and smart meters. Octopus Energy have also said that the move into domestic photovoltaics will create nearly 200 new green jobs within their solar division across the country.

Alongside offering solar panel installations, Octopus customers will also be able to choose from a range of complementary solar batteries.

This will allow them to store the green energy that they produce and sell it to the grid as and when it suits them.

Furthermore, the firm says they are offering the UK's highest-paying tariffs for exporting energy into the power network.

Octopus Energy explained: "Agile Outgoing links a customer's payments to wholesale energy prices that day. It is the best value export tariff on the market.

Octopus Energy continued: "Between September 2021 and September 2022, customers on this tariff were paid £0.34 pence per kilowatt hour on average, with payments going up to £1.29 per kilowatt hour in the last year.

"Fixed Outgoing pays the best fixed-rate export prices in the country. Customers are paid £0.15 per kilowatt hour exported back to the grid."

This, they said, is "three times more than any other energy supplier.

"Customers with solar panels and a solar battery who choose the Agile Outgoing tariff could save up to 90 percent on their electricity bills compared to customers on a standard variable tariff."

This saving, they noted, does not include the initial cost of the solar panels and their installation.

Combining solar panels, solar batteries and heat pumps, Octopus Energy said, will even allow some households to become "Zero Bills" properties.

As the name Zero Bills, they explained, is an Octopus Energy certification that means that customers do not pay a single energy bill.

They explained: "This was trialled with an initial pilot with Ilke Homes in Essex, where 22 eligible homes are sold with the option of being 'Zero Bills'."

Octopus is looking to increase the number of Zero Bills homes to 10,000 by the end of the decade.

DON'T MISS:

Power cuts plunge hundreds of homes into darkness across the UK [REPORT]

Minister to unveil science superpower plan today in break from EU [INSIGHT]

Expert says Brits should mask up and social distance as Covid surges [ANALYSIS]

Octopus Energy Services CEO John Szymik said that the firm has had success "in scaling and installing huge swatches of smart, green home energy tech".

Given this, he added, "we are charming at the bit to begin installing the last piece of the puzzle -- solar photovoltaic.

"If more homes in the UK produce clean, green solar energy, we will be able to accelerate the energy transition and bring down system prices for everybody by lowering system costs.

"In true Octopus style, we'll focus on reducing solar installation times down to record levels, hoping to soon make solar panels affordable for everyone."

More information can be found on the Octopus Energy website.

Octopus Energy to bring solar panels to British homes and slash bills - WSTale.com

Until now, Octopus Energy Services was installing electric vehicle chargers, air-source heat pumps and smart meters.

The company aims to ramp up the rollout, targeting nearly 5,000 installations this year.

The new service will launch across the Midlands and the South and will expand nationwide within the first year.

John Szymik, Chief Executive Officer of Octopus Energy Services, commented: "Given the success we have had in scaling and installing huge swathes of smart, green home energy tech, we are champing at the bit to begin installing the last piece of the puzzle, solar photovoltaic."

Octopus Energy sets foot in solar installation market - Energy Live News

Octopus Energy's generation arm, Octopus Energy Development Partnership (OEDP), is expanding its green power portfolio in Iberia by investing in renewables developer FF New Energy Ventures (FFNEV), which will scale activity in Spain and Portugal, and accelerate expansion into new European countries and Latin America in the future.

The investment marks Octopus' first entry into Portugal's green generation market.

FFNEV has 2.1 GW of renewable projects in their pipeline already and is also participating in floating offshore wind development with a target of 5 GW. With this latest funding the company is targeting 1.6 GW new solar and storage sites in these markets by 2030. This could power nearly 1 million homes, avoiding 945,000 tonnes of CO2, the equivalent of removing nearly 520,000 petrol cars and planting over 4.6 million trees.

Spain is one of Europe's most active solar markets, with 15 GW of solar capacity, and huge untapped potential to meet targets to increase its renewable electricity generation to 74 percent by 2030. Portugal has 2 GW of solar power - and this year announced plans to generate 80 percent of its electricity from renewable sources by 2026 to replace gas-fired electricity generation.

The 220 million euro OEDP fund, which was launched in September this year and is managed by Octopus Energy's generation arm, invests in early stages of new green energy generation. OEDP has so far invested in UK renewables developer Exagen to build one of Britain's largest batteries and in Nexta to create 1.1 GW of green energy in Italy. The partnership with FFNEV marks the fund's third investment, with more coming up across Europe.

"Now more than ever before, we need to build more green power to help reduce gas reliance and bring down energy bills" said Zoisa North-Bond, CEO of Octopus Energy Generation. "Investments like this deal with FFNEV will help make a difference quickly. This latest news is only the beginning for us - as we've got big plans in this part of Europe."

This latest renewables deal is the next step in Octopus' strategy in Spain. Octopus Energy Spain launched as a retail energy supplier in August 2021 after acquiring green energy startup Umeme, offering customers 100 percent green energy tariffs.

In August 2022, Octopus Energy Spain acquired the solar division of Valencian company Solger Energy. Solger Energy became part of Octopus Energy's Services arm in Spain, with the target to complete more than 80,000 household solar installations in Spain in five years.

For additional information:

Octopus Energy

PV - Octopus Energy invests in FFNEV to drive solar power in Iberia - Renewable Energy Magazine, at the heart of clean energy journalism

Just a few days after the official takeover of Bulb by Octopus, the company's customers will receive an urgent message about potential changes in their energy bills.

The takeover of Bulb was finalised on 21st December - this week, customers are expected to be informed about what the next steps around their transfer are.

Bulb, which was placed in special administration in November 2021, said when customers move to Octopus they will be given new account details.

Billpayers will be instructed to set up an online account and download an app - until then, customers' account number will remain the same and they can keep using their Bulb app and account.

A Bulb spokesperson told ELN: "We want to reassure Bulb customers that they don't need to do anything. There's no change to their supply, and their credit balance is protected. We'll work with Octopus to make sure there's a smooth transition for Bulb's customers, and for our team.

"Customers can find everything they need to know on bulb.co.uk. We'd like to thank our customers for being with Bulb, and our team, who work so hard to look after them."

ELN has contacted Octopus for comment - the company did not respond before publication.

Bulb customers receive urgent message after takeover by Octopus - Energy Live News

Former Bank of England chief eyes 20pc stake in UK's third largest supplier

Former Bank of England governor Mark Carney's latest venture is set to take control of a fifth of Octopus Energy as part of a £10bn takeover deal.

Brookfield Asset Management, chaired by Mr Carney, is leading a $12.3bn [£10bn] takeover bid for Australian utility Origin Energy, putting Brookfield on course to indirectly own a chunk of UK household gas and electricity supplier Octopus.

Origin Energy owns 20pc of Octopus. The Australian business first invested in Octopus in May 2020, and has since increased its investment to maintain its 20pc stake.

Brookfield is bidding for Origin Energy through its $15bn Brookfield Global Transition Fund, which it raised in June 2022 to invest in ventures helping to cut carbon emissions.

Brookfield and bidding partner MidOcean Energy have until January 16 to finalise their offer for Origin.

Mark Carney, who chairs Brookfield Asset Management, said in June that "comprehensive, determined action" was needed to cut carbon emissions.

"That means deploying capital across the economic spectrum from scaling clean energy generation, to transforming traditional utilities and to providing sustainable solutions for heavy industries like steel and cement," he added.

As well as supplying households, Octopus Energy has developed a technology platform called Kraken that is of particular interest to investors. As well as helping suppliers with customer service, the technology can help households manage their electricity use as they start to buy electric cars and heat pumps.

Kraken is licensed to Octopus's rivals including EDF and E.ON, as well as Origin Energy in Australia. Greg Jackson, the chief executive of Octopus Energy, has said he hopes 100m customers will be on the platform by 2027. Octopus, which was founded in 2015, also owns wind turbines and solar farms.

Octopus has attracted investment from former US vice-president Al Gore's fund, Generation Investment Management, which invested $600m in September 2021; Japan's Tokyo Gas, and Canadian pensions giant CPP Investments.

Brookfield Asset Management has about $750bn under management, including about $68bn in renewable power and associated technology.

Octopus has just taken over its failed rival Bulb, meaning it now has 4.9m UK customers, making it the country's third largest supplier. Octopus is getting financial support worth up to £4.5bn from the Government as part of the deal given the turbulence in gas markets. The bulk of support must be repaid.

Rival suppliers are taking legal action to challenge Octopus' takeover of Bulb, arguing they were not fully aware of the extent of the support the state would offer. Their case for judicial review is due to be heard next year.

Bulb went bust in November 2021 amid soaring gas prices and was taken into government-backed special administration. The state struggled to find a buyer without offering help given the further surge in gas prices since Russia's invasion of Ukraine in February 2022.

Mark Carney's investment company closing in on major Octopus Energy stake

FFNEV aims to have 1.6 GW in new solar and storage sites in Spain and Portugal by 2030, which could power nearly 1 million homes.

On Thursday, Octopus Energy's generation arm said it is investing in Spanish-headquartered renewables developer FF New Energy Ventures (FFNEV) to expand activities in Spain and enter the Portuguese market for the first time. The investment also aims to accelerate expansion into Latin America in the future, the firm said. The financial details of the deal were not disclosed.

Spanish-headquartered FFNEV has over 2 gigawatts (GW) of renewable projects in its pipeline and is also participating in floating offshore wind development, targeting 5 GW of capacity. Also, FFNEV aims to have 1.6 GW in new solar and storage sites in Spain and Portugal by 2030, which could power nearly 1 million homes.

Portugal has 2 GW of solar power and plans to generate 80% of its electricity from renewable sources by 2026 to replace gas-fired generation. Octopus said Spain is one of Europe's most active solar markets, with 15 GW of solar capacity and the potential for more as it plans to increase renewable electricity generation to 74% by 2030.

Octopus Energy Expands RE development to Portugal * The Electricity Hub

LONDON (Reuters) - Octopus Energy's generation arm said on Thursday it is investing in Spanish-headquartered renewables developer FF New Energy Ventures (FFNEV) to expand activities in Spain and enter the Portuguese market for the first time.

The investment also aims to accelerate expansion into Latin America in the future, the firm said. Financial details of the deal were not disclosed.

Spanish-headquartered FFNEV has over 2 gigawatts (GW) of renewable projects in its pipeline and is also participating in floating offshore wind development, targeting 5 GW of capacity.

With funding from Octopus, FFNEX aims to have 1.6 GW in new solar and storage sites in Spain and Portugal by 2030, which could power nearly 1 million homes.

Octopus said Spain is one of Europe's most active solar markets, with 15 GW of solar capacity, and potential for more as it plans to increase renewable electricity generation to 74% by 2030.

Portugal has 2 GW of solar power and plans to generate 80% of its electricity from renewable sources by 2026 to replace gas-fired generation.

Octopus Energy to expand renewables development in Spain and enter Portugal By Reuters

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

This follows the news of the supplier's acquisition of Bulb, an energy company which went into Special Administration last year. Octopus Energy confirmed the news that 1.5 million former customers of the defunct supplier would now see their accounts transferred over. Households are currently experiencing an exponential increase in energy bills and those affected by this acquisition will soon be eligible for vital support from Octopus Energy.

Octopus Energy to support 1.5 families with £100 savings scheme

Latest deal by Octopus Energy Development Partnership (OEDP) to build new green energy, reduce Europe's gas reliance and lower energy bills

Octopus Energy's generation arm expands green power in Iberia by investing in renewables developer FF New Energy Ventures (FFNEV) to develop more cheap green power, reducing fossil fuels reliance.

The Octopus Energy Development Partnership (OEDP) investment in Spanish-founded FFNEV will scale activity in Spain and Portugal, and accelerate expansion into new European countries and Latin America in the future. This marks Octopus' first entry into Portugal's green generation market.

FFNEV has 2.1GW of renewable projects in their pipeline already and is also participating in floating offshore wind development with a target of 5GW. With this latest funding they're targeting 1.6GW new solar and storage sites in these markets by 2030. This could power nearly 1 million homes, avoiding 945,000 tonnes of CO2, the equivalent of removing nearly 520,000 petrol cars and planting over 4.6 million trees.

Spain is one of Europe's most active solar markets, with 15GW of solar capacity, and huge untapped potential to meet targets to increase its renewable electricity generation to 74% by 2030. Portugal has 2GW of solar power - and this year announced plans to generate 80% of its electricity from renewable sources by 2026 to replace gas-fired electricity generation.

The €220m OEDP fund, which was launched in September this year and is managed by Octopus Energy's generation arm, invests in early stages of new green energy generation. OEDP has so far invested in UK renewables developer Exagen to build one of Britain's largest batteries and in Nexta to create 1.1GW of green energy in Italy. The partnership with FFNEV marks the fund's third investment, with more coming up across Europe.

See related article: Spain Receives €869 Million for a Just Climate Transition

Zoisa North-Bond, CEO of Octopus Energy Generation, comments: "Now more than ever before, we need to build more green power to help reduce gas reliance and bring down energy bills. Investments like this deal with FFNEV will help make a difference quickly. This latest news is only the beginning for us - as we've got big plans in this part of Europe."

Vicente Lopez-Ibor Mayor, Chairman of FFNEV, said: "We founded and started FFNEV in 2018 and have been busy developing a top quality pipeline in Iberia, driven by our successful, recognised and experienced team. We're delighted to be building on our long-standing relationship with Octopus and have no doubt this latest backing will accelerate FFNEV's growth in Iberia and abroad."

Roberto Giner, CEO of Octopus Energy Spain, said: "We've always been driven by our commitment to transform the energy system to 100% renewables. This latest news is an exciting milestone in Octopus' journey in Spain as we continue to grow our footprint."

This latest renewables deal is the next step in Octopus' strategy in Spain. Octopus Energy Spain launched as a retail energy supplier in August 2021 after acquiring green energy startup Umeme, offering customers 100% green energy tariffs.

In August 2022, Octopus Energy Spain acquired the solar division of Valencian company Solger Energy. Solger Energy became part of Octopus Energy's Services arm in Spain, with the target to complete more than 80,000 household solar installations in Spain in five years.

Octopus Energy Generation is one of Europe's largest renewables investors, managing assets worth over £5bn. The fund management team has worked in renewables in Spain since 2020 where it agreed to conditionally acquire four solar farms once they become ready to build, on behalf of the Octopus Renewables Infrastructure Trust (ORIT) fund it manages.

Octopus Energy to Expand Renewables Development in Spain and Enter Portugal - ESG News

Generation arm of UK energy giant plots expansion of wind and solar capacity in Spain, Portugal, and beyond

Octopus Energy's renewables generation arm has expanded its interests in Spain, yesterday announcing an undisclosed level of investment in green energy developer FF New Energy Ventures (FFNEV) as part of plans to expand its presence in Iberia.

The Octopus Energy Development Partnership (OEDP) fund investment in the Spanish firm is aimed at scaling up renewables development activity in Spain and Portugal, in addition to accelerating expansion into further European countries and Latin America in future, the UK energy giant said.

As such, the investment both expands Octopus' existing presence in Spain, where the firm launched an energy retail business last year, and marks its first entry into Portugal's renewable energy market. ...

Octopus Energy invests in Spanish renewables developer FFNEV (michael.holder@incisivemedia.com(Michael Holder)/Business Green)

UK-based energy group Octopus Energy's generation arm has invested in independent power producer (IPP) FF New Energy Ventures (FFNEV) to develop 1.6GW of solar and storage in Spain and Portugal.

This investment marks Octopus' entrance into the Portuguese renewables market, a country which aims to reach 80% of renewables in electricity production by 2026.

FFNEV currently has a 2.1GW pipeline of renewable projects and with this latest funding aims to add the 1.6GW of solar and storage capacity by the end of the decade.

With an investment through the €220 million (US$234 million) Octopus Energy Development Partnership fund (OEDP), Octopus aims to scale up FFNEV's activity in Spain and Portugal while accelerating its expansion into new European markets and Latin America in the future.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: "This latest news is only the beginning for us - as we've got big plans in this part of Europe."

The OEDP fund was launched in September and invests in early stages of new green energy generation and already made an expansion in Europe last October with an investment in renewables developer Nexta.

The Spanish arm of Octopus Energy was launched in August 2021 after it acquired the green energy start-up Umeme and offered its clients 100% green energy tariffs. It further increased its presence in Spain last August with the acquisition of the solar division of Solger Energy and entering the residential market.

Octopus Energy partners FF New Energy Ventures to build 1.6GW of renewables in Iberia

December 23 (Renewables Now) - UK renewable energy retailer Octopus Energy Group is setting foot in Portugal's green generation market with an investment in Spanish-founded renewables developer FF New Energy Ventures (FFNEV) which has a projects pipeline of 2.1 GW.

The investment will support FFNEV's goal of having 1.6 GW of new solar and storage capacity by 2030. The Spanish firm is also participating in floating offshore wind development with a target of 5 GW.

For Octopus, the deal is an opportunity to accelerate its expansion into new European countries and Latin America in the future, it said in a press release on Thursday.

The financial details of the transaction remained undisclosed.

The bet on FFNEV is being made through a EUR-220-million (USD 212.5m) fund of Octopus' generation arm, The Octopus Energy Development Partnership (OEDP).

Octopus is already active in Spain. It launched a local unit as a retail energy supplier last year after acquiring green energy start-up Umeme. In August 2022, Octopus Energy Spain bought the solar business of Valencia-based Solger Energy.

(EUR 1 = USD 1.062)

Octopus Energy invests in renewables developer FFNEV

The Octopus Energy Development Partnership (OEDP) investment in Spanish-founded FFNEV will scale activity in Spain and Portugal, and accelerate expansion into new European countries and Latin America in the future

Octopus Energy drives solar power in Iberia with renewables developer partnership. (Credit: Octopus Energy Ltd)

Octopus Energy's generation arm expands green power in Iberia by investing in renewables developer FF New Energy Ventures (FFNEV) to develop more cheap green power, reducing fossil fuels reliance.

The Octopus Energy Development Partnership (OEDP) investment in Spanish-founded FFNEV will scale activity in Spain and Portugal, and accelerate expansion into new European countries and Latin America in the future. This marks Octopus' first entry into Portugal's green generation market.

FFNEV has 2.1GW of renewable projects in their pipeline already and is also participating in floating offshore wind development with a target of 5GW. With this latest funding they're targeting 1.6GW new solar and storage sites in these markets by 2030. This could power nearly 1 million homes, avoiding 945,000 tonnes of CO2, the equivalent of removing nearly 520,000 petrol cars and planting over 4.6 million trees.

Spain is one of Europe's most active solar markets, with 15GW of solar capacity, and huge untapped potential to meet targets to increase its renewable electricity generation to 74% by 2030. Portugal has 2GW of solar power - and this year announced plans to generate 80% of its electricity from renewable sources by 2026 to replace gas-fired electricity generation.

The €220m OEDP fund, which was launched in September this year and is managed by Octopus Energy's generation arm, invests in early stages of new green energy generation. OEDP has so far invested in UK renewables developer Exagen to build one of Britain's largest batteries and in Nexta to create 1.1GW of green energy in Italy. The partnership with FFNEV marks the fund's third investment, with more coming up across Europe.

Zoisa North-Bond, CEO of Octopus Energy Generation, comments: "Now more than ever before, we need to build more green power to help reduce gas reliance and bring down energy bills. Investments like this deal with FFNEV will help make a difference quickly. This latest news is only the beginning for us - as we've got big plans in this part of Europe."

Vicente Lopez-Ibor Mayor, Chairman of FFNEV, said: "We founded and started FFNEV in 2018 and have been busy developing a top quality pipeline in Iberia, driven by our successful, recognised and experienced team. We're delighted to be building on our long-standing relationship with Octopus and have no doubt this latest backing will accelerate FFNEV's growth in Iberia and abroad."

Roberto Giner, CEO of Octopus Energy Spain, said: "We've always been driven by our commitment to transform the energy system to 100% renewables. This latest news is an exciting milestone in Octopus' journey in Spain as we continue to grow our footprint."

This latest renewables deal is the next step in Octopus' strategy in Spain. Octopus Energy Spain launched as a retail energy supplier in August 2021 after acquiring green energy startup Umeme, offering customers 100% green energy tariffs.

In August 2022, Octopus Energy Spain acquired the solar division of Valencian company Solger Energy. Solger Energy became part of Octopus Energy's Services arm in Spain, with the target to complete more than 80,000 household solar installations in Spain in five years.

Octopus Energy Generation is one of Europe's largest renewables investors, managing assets worth over £5bn. The fund management team has worked in renewables in Spain since 2020 where it agreed to conditionally acquire four solar farms once they become ready to build, on behalf of the Octopus Renewables Infrastructure Trust (ORIT) fund it manages.

Octopus Energy

Overview

Latest news

Centrica's British Gas joins Octopus Energy in heat pump price war By Proactive Inv...

Octopus Energy to Power Homes with Solar Batteries as Customers Seek Greener, Cheap...

Enphase inks Texas VPP deal with Octopus Energy

Technologies

Regions

Similar companies

Invite your team to PF Nexus

Unlock the full power of PF Nexus

Our platform is helping run hundreds of renewable energy projects.