Octopus: Sustainability Core of UK’s Leading Energy Supplier
Despite being a relatively new player in the energy space, Octopus Energy has come out on top as the UK’s leading provider.
Founded in 2015 by Greg Jackson and Stuart Jackson, both Cambridge economics graduates, Octopus Energy started small but quickly gained momentum. Within three years, it boasted nearly 200,000 customers and secured a significant energy procurement deal with Shell, signalling its rapid ascent.
Leading the sustainability charge
Octopus Energy isn't just a market leader, it's also a sustainability pioneer. With a mission to power the planet with affordable, clean energy, Octopus Energy has achieved remarkable milestones in reducing carbon emissions.
Customers of Octopus Energy enjoy homes with a carbon footprint of zero, significantly lower than the UK average of 574kg of CO2 per year. This translates to emissions savings equivalent to planting 287 trees annually.
The company operates £6bn (US$8.7bn) worth of renewable generation, capable of powering four million homes, sourced from 700 green energy producers in the UK alone.
Former US Vice President Al Gore, Founding Partner and Chairman of Generation Investment Management, lauds Octopus Energy as a prime example of a mission-driven company enabling a sustainable future.
“Octopus is a living example of the kind of company that generation was founded to invest in,” he said. “It is a company that is a true enabler of a sustainable system led by a mission driven team.”
In addition to its renewable energy initiatives, Octopus Energy pays more than 100,000 British households for their home solar power, generating more than 1.2bn kWh of electricity annually, sufficient to power nearly half a million homes for a year. Moreover, the company offsets over a million tonnes of CO2, equivalent to eliminating more than 1,000 flights from London to New York.
Octopus Energy's remarkable journey from a fledgling startup to a global energy leader not only highlights their business acumen but also underscores the critical role of sustainability in shaping the future of the energy sector.
The Rise of Octopus Energy
Today, Octopus Energy's influence extends far beyond British borders. Operating in 18 countries and serving around eight million households, it has become one of Europe's largest investors in renewable energy, managing a portfolio worth £7bn (US$8.7bn).
Octopus Energy's growth trajectory is propelled by several key factors. Their commitment to providing 100% renewable electricity, innovative smart tariffs like Agile driven by AI and fair pricing strategies have attracted more than 1.9 million net customers since Q1 of 2023. Their emphasis on customer service excellence has further solidified their position in the market, with more than 800,000 customers switching to Octopus from other suppliers.
Greg Jackson, Co-Founder of Octopus Energy, attributes their success to continuous investment in exceptional people and cutting-edge technology, aimed at enhancing customer service while reducing costs.
He added: “I hope that we can inspire both entrepreneurs and existing companies that by investing for the long-term, and truly focusing on customers, they can deliver success for themselves and for those they serve.”
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