Octopus Energy: the British electric octopus that aims to dominate in Spain

Octopus Energy: the British electric octopus that wants to conquer the Spanish market The company Octopus Energy has proven to be a true octopus in the world of electricity, expanding rapidly and devouring market share along the way. Founded in 2015 as an alternative to the major UK electric companies, in less than a decade it has positioned itself as the largest electricity retailer in the islands, with nearly seven million customers, surpassing giants like British Gas, E.ON, OVO, EDF, and Scottish Power. This rapid growth has driven its internationalization, operating in 18 countries across four continents and aiming to reach two million customers in Spain by 2027. Octopus Energy's founder and CEO, Greg Jackson, highlights the company's rapid expansion into new markets, including Spain, where they aim to grow in retail, promote the installation of renewable technologies in homes, increase clean energy generation, and encourage the adoption of electric vehicles. Additionally, Octopus Energy has developed its own technological platform, Kraken, which has been well-received in the UK market and aims to extend its benefits in Spain. The company closed the last fiscal year with profits for the first time in its history, with a valuation of around 8.5 billion euros. In Spain, Octopus Energy sees enormous potential in the renewable energy market, especially in optimizing consumption to take advantage of solar and wind generation at optimal times. They promote the use of technologies such as solar panels, aerothermal systems, and batteries to reduce costs and CO2 emissions, incentivizing energy efficiency among their customers. Kraken, Octopus Energy's technological platform, has been key to its success in improving the efficiency of electricity supply and demand, providing services to millions of customers in various countries, and controlling a significant portion of the batteries that stabilize the UK electrical system. The company has also diversified its activity by venturing into energy generation in 15 markets, with assets valued in the billions of euros and a strategy to bring electricity generation and consumption closer together. In a sector where electric vehicles are seen as a great opportunity, Octopus Energy is committed to accelerating the transition towards more sustainable mobility. They believe that Europe lags behind the US and China in electric vehicle manufacturing and warn about the need to quickly move in this direction to avoid falling behind. With increasingly evident economic and environmental benefits, the company focuses on promoting the adoption of electric vehicles and incentivizing the integration of renewable sources into the electrical grid. Octopus Energy positions itself as a leader in the energy sector due to its innovative approach, rapid growth, and commitment to sustainability. With an ambitious expansion strategy and a long-term vision, the British company emerges as a key player in the transition towards a cleaner and more efficient energy system, challenging traditional major electric companies and paving the way towards a more sustainable future.