The investment increased the company's valuation to $4.6bn, with the cash injection to be used by Octopus to increase its investment in new technologies for cheaper and faster decarbonisation. One department looks after Electric Juice, a service that lets customers add car-charging payments to their electricity bill. He won the Coach of the Year award in 2009, 2010 and 2011. Greg: Success is different for everybody, and you need to be honest with yourself about what would make your job a success, is it happiness? Theyve been characterised as inexperienced and foolhardy for not hedging their energy far enough in advance. We have a technology licensing business with big customers like E.ON and EDF, and weve invested in generation and a heat pump centre. [52], Also in November 2021, Octopus Energy Group signed a deal with Elia Group at COP26 to build a "smart" green grid across Belgium and Germany. Our Founder, Hubert Nomamiukor organised a Q&A session with Greg Jackson, the CEO of Octopus Energy, to capture his entrepreneurial journey, influences and perspectives. Jon has worked for the last 18 years building a number of successful energy challengers, service innovators and disruptors across both Australia and the UK. Weve raised 16 times more investment than Bulb did. As someone whose LinkedIn profile professes a love of disrupting industries that underserve customers and society, its no surprise Greg is passionate about enhancing the customer experience. Before Bulbs collapse, Octopus flirted with taking over its rival. Jackson and his family moved to Albuquerque, New Mexico when he was three years old. Deepak holds an MBA in Marketing, Strategy and Information Systems from the Indian Institute of Management and a B Tech in Chemical Engineering from the Indian Institute of Technology. Our CEO Greg explains why standing charges are higher on new energy tariffs, and why electricity standing charges have gone up more than gas ones. Our middle management team in operations - which makes up most of our team - fares even better, being made up of 80% women and most of them have been with us from the first 50 employees we hired, showing that people are happy here and like to stay. [9], In 2018 Hanwha Energy Retail Australia (Nectr) chose the Kraken platform, developed by Octopus to provide billing, CRM and other technology services to support its launch into the Australian retail energy market. survey and was one of three recommended providers. [1] [26], In September 2021, Octopus was appointed as the Supplier of Last Resort (SOLR) for Avro Energy, acquiring Avro Energy's domestic customers and increasing their customer base to 3.1m customers. London Tuesday 8th November - This evening, the founder and CEO of Octopus Energy, Greg Jackson, joined consumer champion Martin Lewis on his flagship TV show on ITV. Weve never made a profit and were going to, but weve ploughed everything were going to make into customer support so were not going to make one this year, he says. Since our interview, Octopus has rejoined the race, submitting a last-minute bid. [47][48], In October 2020, Octopus partnered with Tesla Energy to power the Tesla Energy Plan, which is designed to power a home with 100% clean energy either from solar panels or Octopus. Octopus began talking to Gores team two years ago. The company also supplies software services to other energy suppliers. A day later, Generation Investment Management, a fund chaired by Al Gore, committed to a $600m investment in Octopus. The boss has now stated that it has "never . I lived through rip-roaring inflation in the 1980s and double-digit interest rates. Both investors back businesses that drive sustainability, promote green energy and tackle climate change. Among the companies using Kraken is E.On, the second-largest electricity supplier in the UK. If the problem persists, please contact support. The other key difference between Octopus and other utilities companies is technology. [3][4][5][6] Jackson has trained many successful fighters, including former UFC Light Heavyweight Champion Jon Jones, former UFC Welterweight Champion Georges St-Pierre, former UFC Women's Bantamweight Champion Holly Holm, former Light Heavyweight Champion Rashad Evans, and a roster of other UFC contenders and World Extreme Cagefighting champions. Diversity is extremely important during our hiring process, and we anonymise CVs so that we can hire for the people behind the name and profile. A business leader is someone who doesnt look to make quick money, but really wants to change their industry for the better, do something different and lead from the front, rather than worry about what their competitors are doing. Theres some blokes with phones, and what theyve always done is phoned up coal and gas power stations and told them to turn on and off. In our experience this leads to strong relationships between managers and team members, happier employees and higher productivity. . We have already done this in countries like Australia, Germany, US, New Zealand and Japan, so we still have many more countries that could benefit from this technology and our business model. [55], Octopus Renewables is contracted as the investment manager for Octopus Renewables Infrastructure Trust, an investment trust established in 2019 which owns wind and solar generation in the UK, Europe and Australia. We have an aim to reach over 100 million customers by 2027, whether thats via other companies licensing Kraken or customers joining Octopus Energy, so we never say never for any country or continent, even if we dont have any plans to at the moment. Octopus are on a mission to bring cheaper, greener power to all. In September 2021, Octopus Energy Group was valued at approximately $5 billion following a $600 million investment from Generation Investment Management and a $300 million investment from Canada Pensions Plan Investments Board. Our customer service metrics actually improved during the pandemic, and we were the only large domestic energy supplier in the UK still answering calls as usual. . You can tell if someone grew up in a cold house: we often prefer baths when you get out of the shower you get a real shock, he says. Greg is an experienced digital entrepreneur, passionate about using technology to make positive change. Our weekly culture newsletter from books and art to pop culture and memes sent every Friday. Customers on the tariff get a 20% discount on the unit price when the turbines are spinning, and a 50% discount when the wind is above 8m/s (20 mph). Stuart has a degree in Economics from Cambridge University. In 72 hours, the six-year-old company had swelled to accommodate more customers than Scottish Power (to 3.1 million in total) and a higher valuation (approaching $5bn) than Centrica, the owner of British Gas. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. Currently, Octopus Energy has more than 750,000 customers with 100 per cent renewable electricity, despite only setting up three years ago. Spaces are limited for this very special event so make sure you dont miss out by signing up, To be the first to hear about our events, get immediate access to new podcast episodes, and hear news picked just for you . Nov 2, 2022. We took the 15 years it usually takes to make a vaccine, and did it in less than a year. And I genuinely hope they all go on to great things, even if thats not necessarily at Octopus Energy. Greg: The desire for their colleagues to be happy and successful. Could Octopus become another Bulb? We'll monitor any new channels (including this) before running ads and will only advertise if balanced and meets our policies", "As per my message, we didn't boycott - I wanted to see the channel and am true to my word", "GB News hails boycott victory - Full list of advertisers BACKING Andrew Neil's channel", "Octopus Energy's Greg Jackson: 'Climate change is no longer this vague thing', Timeline of the electricity supply industry, Department for Business, Energy and Industrial Strategy, Minister of State for Business, Energy and Clean Growth, Department for Environment, Food and Rural Affairs, Climate Change and Sustainable Energy Act 2006, Centre for Renewable Energy Systems Technology, Hadley Centre for Climate Prediction and Research, Association for the Conservation of Energy, Double Glazing & Conservatory Ombudsman Scheme, https://en.wikipedia.org/w/index.php?title=Octopus_Energy&oldid=1128995384, Electric power companies of the United Kingdom, Renewable resource companies established in 2015, Renewable energy companies of the United Kingdom, Articles with unsourced statements from October 2021, Articles containing potentially dated statements from September 2021, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, Greg Jackson (CEO), Stuart Jackson (CFO), James Eddison (CTO), Zoisa North-Bond (CEO, Octopus Generation), Rebecca Dibb-Simkin (CMO), Peter Miller (Customer Experience) Fiona Howarth (CEO, Octopus Electric Vehicles), This page was last edited on 23 December 2022, at 02:23. The campaign won the 2020 Marketing Week Masters award for utilities, and the 2020 Energy Institute award for Public Engagement. Clem Cowton is Director of External Affairs at Octopus Energy, heading up the company's advocacy on policy, government affairs and Net Zero. Were nothing like Bulb.. [73], Octopus was one of a number of brands who considered pulling their advertising from the channel, with others including IKEA, Vodafone, Nivea, Kopparberg, Grolsch, the Open University, OVO Energy and LV=. [53], In January 2022, it was announced that Octopus Renewables had bought the Broons/Biterne-Sud wind farm in Cotes dArmor, northeast Brittany, France from Energiequelle for an undisclosed price. [31] This meant Octopus gained "unicorn" status, as a startup company with a value in excess of 1 billion. These include: In March 2019, Octopus announced it had partnered with Amazon's Alexa virtual assistant, to optimise home energy use through the Agile Octopus time-of-use tariff. 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