Company: Octopus Energy
Company Description: Octopus Energy is a Top 5 UK energy supplier with 3.2m customers - and a further 25m contracted accounts globally via licensing, Founded in 2016 by Greg Jackson, Octopus Energy has 3000 employees across expanding operations in 14 countries - proud to be the UK’s most awarded energy supplier in 2020 and 2021 - including the ONLY UK energy provider recommended by Which? for five years running.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Utilities - Large
 Nomination Title: Octopus Energy
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2021, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 200 words used.
Octopus Energy launched in 2016 to deliver better, fairer and cheaper green energy for people around the world.
Back in 2015, our inspirational CEO and founder, Greg Jackson, saw a massive opportunity to transform an entire energy sector, worth $3trn globall, that had been left behind by the digital revolution. He recognised what had gone wrong with the retail energy industry: the original Big6 focused too heavily on shareholders while struggling to deliver value to customers, also using opaque pricing to ‘tease and squeeze’ customers. Meanwhile the UK’s National Grid was unfit for the future, needing £40bn in upgrades every year.
To overcome these challenges, Greg’s team built proprietary ‘Kraken’ technology in house. Today, Kraken underpins all our operations, from procurement, forecasting, renewables supply, CRM, billing and metering to management of smart devices (including EVs, heat pumps and batteries). Showcasing positive impact at speed and scale, Kraken uniquely supports:
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Rapid and sustained business growth by delivering world-class experiences at unprecedented low cost
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Fast and smooth roll-out of cleantech solutions across a renewably-driven, flexible smart grid
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Strategic relationships with renewable suppliers, government, policymakers, investors and partners
Licensing model to help global energy suppliers to become leaner and greener for their customers.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 247 words used.
Thanks to Kraken’s impact in delivering world-class energy experiences at scale, we’ve leapt from seed to become a multimillion international energy player. Just some of our headline business, customer and environmental successes since 2021 include:
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Top 3 UK energy provider - trebling customer numbers and turnover to reach 5.4m+ and £7bn respectively
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FT1000 Europe’s fastest growth companies: for 2021 and 2022
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Growing workforce from 1000 to 4600+ - across expanding operations spanning 15 countries
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Highly rated by employees, including: Sunday Times ‘Best Company to Work for’ in 2023, #1 ‘Best Companies to Work For’ - Utilities (Q4 22) and ‘Best Place to Work’ (Glassdoor’22)
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$5bn+ valuation (Dec’21) - rivalling that of market leader Centrica,
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Industry-leading £250m Customer Crisis Response is delivering concrete financial aid, tools and emotional support when customers need help the most
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ONLY UK energy supplier recommended by Which? for six years running
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Best-in-Industry 4.7/5-star Trustpilot scores versus 3.7 large supplier average
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Highest ‘Trust’ in the industry: 11% of customers have ‘complete’ trust and 46% have ‘very high trust’ (YouGov external survey, July’22)
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Accelerating the world to net zero: Partnering with global energy providers, including EON, Tokyo Gas and EDF, now with 30m contracted customer accounts on our Krakenplatform, on track to reach 120m by 2027
Becoming one of Europe’s largest investors in renewable energy, managing a near £6bn portfolio of renewable energy assets across the globe, including 300+ projects in across six countries with a total capacity of 2,800 MW.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 249 words used.
NO energy supplier is growing, investing and innovating as much as we are.
From seed to £7bn turnover in 7 years: Last year, we seamlessly welcomed 680k Avro Energy and 1.5m Bulb customers, with world-class high-volume customer migrations. Our YouGov commissioned survey in 2022 revealed that Avro customers were THE most satisfied of ALL migrated energy supplier customers.
Navigating all our customers through the crisis: Our long-term shareholders once again supported our decision to invest millions of pounds to help our hardest hit customers struggling to pay their bills due to the cost-of-living crisis rather than take our first ever profit, because it’s the RIGHT thing to do.
Increasingly matching demand with supply: We’re expanding and optimising our capacity to deliver green electrons, energy storage, and grid flexibility whilst advancing renewables partnerships across the world.
Innovative energy blueprint for the world: Kraken’s data capabilities have empowered customers with cheaper green energy and opened up a globally-applicable licensing model. Together we are helping energy suppliers, even our own competitors, to emulate the pioneering impact of our lean and green model that delivers:
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95% first-time resolution
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7x faster processes to send out customer comms
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Empowered ‘universal agents’ freed up from dull error-prone manual processes to build value-added customer relationships.
Best Place to Work: Proud to be an employer of choice, we’re creating and protecting thousands of rewarding jobs in the future of energy, including reaching out to people left stranded by companies collapsing, with our diverse and flexible open roles.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 79 words used.
Our supporting evidence includes testimonials, images, published reports, stats, press coverage, and links to our website to demonstrate the claims we’ve made in our entry.
Slides:
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About Octopus Energy - our mission, values and goals
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Showcasing our stellar growth journey
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Delivering unmatched Customer Service Excellence
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Investing in our industry-leading £250m Customer Crisis Response
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Matching energy generation with supply
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Spotlight on Kraken our game-changing technology and model for energy
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Building agile fast-growing workplaces to engage our green energy customer champions
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