Some of you may have read about Octopus Energy acquire Shell Energy UK and Germany.
London, 1st December 2023 -Octopus Energy Group today announces it has completed the acquisition of Shell Energy Retail in the UK and Germany from Impello Limited (“Shell”), a subsidiary of Shell Petroleum Company Limited.
The green energy provider will start the technical process of migrating 1.3 million home energy customers to its systems in the UK and Germany from the 1st of December. The migration is expected to be completed in mid 2024.
This will grow Octopus to 6.6 million household customers in the UK (over 11 million meter points). Its customer base in Germany will grow to almost 300,000. As part of the deal, Octopus has also acquired almost 500,000 Shell broadband customers.
source:
https://octopus.energy/press/Octopus-Energy-completes-purchase-of-Shell-Energy-Retail-in-UK-and-Germany/Origin owns 23% stake in Octopus Energy. Here's my rough analysis based on above information. No wonder Brookfield has a large appetite to buy Origin Energy.
That's a very good contribution to Origin revenue.
A bit of Kraken, the proprietary system from Octopus Energy.Kraken's Key Features:
- End-to-end automation:From customer billing and meter readings to managing renewable energy generation and flexible energy devices, Kraken automates much of the energy supply chain, leading toincreased efficiency and lower costs.
- Data-driven insights:Kraken leverages advanced data analytics and machine learning to understand customer behavior and predict energy demand. This allows fordynamic pricing modelslike the "Flexible Octopus" tariff, which adjusts prices based on real-time wholesale costs, empowering customers to save money by shifting their usage to off-peak hours.
- Customer-centric focus:Kraken provides customers with a user-friendly app and web platform, offering real-time energy usage data, personalized insights, and control over their energy consumption. Thistransparency and empowermentare key to Octopus's high customer satisfaction ratings.
- Scalability and flexibility:Built on a cloud-based architecture, Kraken is highly scalable and adaptable, allowing Octopus torapidly expand into new marketsand integrate new technologies seamlessly.
Kraken vs. Traditional Systems:
Traditional energy retailers often rely on outdated and siloed systems, leading to:
- Inefficiencies:Manual processes and lack of automation result in higher operational costs and slower response times.
- Limited customer insights:Traditional systems lack the data analytics capabilities to understand customer needs and offer personalized solutions.
- Static pricing:Fixed tariffs don't reflect the dynamic nature of wholesale energy prices, leading to less competitive pricing for customers.
Kraken's Future Look-ahead:
- Continued expansion:Octopus plans to onboard100 million accountsonto the Kraken platform by 2027, further solidifying its position as a global leader in energy technology.
- Green energy innovation:Kraken will play a vital role in integrating and optimizing distributed renewable energy resources, driving the transition to asustainable energy future.
- Evolving customer experience:Kraken will continue to be refined to offer even morepersonalized and dynamic energy solutions, empowering customers to take control of their energy usage and save money.
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