Wednesday, May 29, 2024
Energy Transition Outlook Report 2023
HomeRenewableselectricity and gasOctopus Energy surpasses British Gas as UK’s largest electricity supplier

Octopus Energy surpasses British Gas as UK’s largest electricity supplier

After eight years of operation, Octopus has become the UK’s largest electricity supplier.

Octopus Energy emerged as the sole large energy supplier to bolster its market share in the past year, as indicated by new data from Ofgem.

Since Q1 2023, Octopus has experienced growth, acquiring over 1.9 million net customers, resulting in a substantial 22% market share and servicing 6.8 million households.

In 2023, Octopus led the market in customer switching, with over 800,000 customers opting to switch to Octopus from other suppliers, with an additional 1.3 million households transitioning from Shell Energy Retail following Octopus’ acquisition of the business.

Octopus’ global expansion has reached 18 countries, servicing almost eight million households worldwide.

Greg Jackson, Founder of Octopus Energy Group, commented: “We’ve invested relentlessly in outstanding people and technology to deliver better customer service and lower costs – and today’s news shows that this works.

“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.”

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
- Advertisment -
Energy Jobline LinkedIn

Most Popular

Recent Comments