Full-Time
Supplies 100% renewable electricity and gas
£38.5k/yr
Cornwall, UK
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Octopus Energy Group supplies 100% renewable electricity and gas to homes and businesses in multiple countries, offering tariffs such as Agile that adjust with wholesale costs. It operates Kraken, an in-house platform that automates billing, customer service, and grid management using AI to balance supply and demand; Kraken is licensed to other suppliers and will be spun off as a separate company. The group differentiates itself through clear pricing, strong customer service, and a scalable energy-technology platform that supports retail, generation, grid flexibility, and EV services. Its goal is to decarbonize energy use globally by making renewables more accessible and by enabling smarter grids, better pricing, and services like EV leasing and demand-response programs.
Company Size
5,001-10,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$2.9B
Headquarters
London, United Kingdom
Founded
2016
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Health Insurance
Dental Insurance
Vision Insurance
Paid Vacation
401(k) Company Match
Parental Leave
Flexible Work Hours
Company Equity
OE Group Share Scheme
Octopus Energy and China's CATL have announced a joint venture to build a battery-swapping network for electric trucks across Europe, but the plan faces significant industry scepticism. Analysts warn that resistance from manufacturers and compatibility challenges could derail the initiative. European truck makers including Volvo and Scania are expected to oppose what they view as Chinese encroachment into their market. Critics argue that existing charging infrastructure already functions adequately, making battery swapping unnecessary. The joint venture must overcome substantial hurdles, particularly ensuring the system works across different truck models. Industry observers question whether manufacturers will adopt standardised battery systems required for swapping to succeed, potentially limiting the network's viability across Europe's diverse commercial vehicle fleet.
Contemporary Amperex Technology Co Ltd (CATL), a Chinese firm blacklisted by the US Pentagon as a "Chinese military company", will install battery-swapping stations for electric lorries across Britain from next year. CATL has denied any military links. The company is partnering with Octopus Energy, the UK's largest energy supplier, through a joint venture called Swaptopus. They plan to build 30 battery hubs across Europe by 2035, capable of supporting 300,000 electric trucks. The stations allow drivers to replace depleted batteries in under five minutes. The move could trigger security scrutiny, following a previous case where Chinese wind turbine manufacturer Ming Yang was blocked from UK projects after US national security concerns. CATL already operates over 300 battery-swapping stations in China, where electric models comprise more than 30% of the heavy-truck market.
Octopus Energy and Lunar Energy are offering Texas customers an electricity plan combining a 30-kWh home battery with fixed energy pricing for three years. Participating customers receive the Lunar Energy battery at no upfront cost, paying a $45 monthly subscription fee plus electricity at a flat rate starting at 8 cents/kWh. The batteries will provide grid services and home backup during outages. PowerStore is initially available to a limited number of Texas homes but could expand later. The batteries can pair with solar inverters from six manufacturers, including Tesla, SolarEdge and Enphase. The programme follows similar battery-based retail electricity offerings in Texas. Guadalupe Valley Electric Cooperative recently announced plans to expand its battery partnership with Base Power from 2 MW to 50 MW over the next two to three years.
Origin Energy reported weaker March quarter results, with declines in LNG revenue and a significant downgrade to Octopus Energy earnings expectations. The company now forecasts its FY26 share of Octopus EBITDA between -A$70 million and +A$30 million, down from previous guidance of up to A$150 million. The revision reflects UK regulatory changes, higher gas capacity charges and adverse winter weather. Australia Pacific LNG production fell 3% quarter-on-quarter to 164.5 PJ, whilst revenue dropped 12% to A$1.855 billion due to lower volumes, pricing and a stronger Australian dollar. Average realised LNG prices declined to US$9.51/mmbtu. Despite challenges, Octopus added 700,000 customers during the quarter. In Energy Markets, electricity sales rose 4% year-on-year, driven by data centre demand, though gas volumes fell 32%.
Octopus Energy Group is acquiring a majority stake in Uplight, a North American grid flexibility provider, in partnership with Schneider Electric, which will remain a significant minority partner. The transaction is subject to regulatory approvals and expected to complete later this year. Uplight serves over 85 utilities across North America, including eight of the ten largest in the US, managing over 8.5 gigawatts of flexible load through demand response and distributed energy resource management solutions. The company will continue operating as an independent platform. The partnership combines Octopus Energy's consumer innovation and flexibility expertise, Uplight's utility relationships and technology, and Schneider Electric's grid management systems. Octopus Energy operates the world's largest virtual power plant with more than 350,000 electric vehicles enrolled globally.