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OVO signs JV with Australia’s largest energy retailer AGL Energy

Image: OVO.

Image: OVO.

OVO has signed a new joint venture that will see it licence its Kaluza platform to Australia’s largest energy retailer and generator, AGL Energy.

The partnership will give AGL exclusive access to the AI-enabled software platform in Australia, providing customers with a "rich digital experience" and real-time energy insights.

AGL will invest in OVO Energy Australia as part of the agreement, allowing OVO to adapt Kaluza for Australia and grow its customer base.

Stephen Fitzpatrick, CEO and founder of OVO said, that the “hard work of tackling carbon emissions” in the residential sector in particular was “just beginning”.

“Ultimately, success will come down to turning consumers into willing, active participants in the energy transition. Companies must now focus on building trust with their customers, harnessing technology that makes zero carbon living simple and affordable for everyone. The Kaluza platform uses real-time data to create a uniquely personalised digital experience, making it easy for the customer to engage with energy and their own carbon footprint.”

He added that the company was proud to be working with a “true household name in Australia” to bring its technology to market.

Australia has one of the highest levels of rooftop solar in the world, making grid stability a key priority for the market. Kaluza will help manage this, intelligently shifting energy use of key technologies such as electric vehicles, energy storage systems and other flexible home devices.

Brett Redman, managing director and CEO at AGL, said through the joint venture the two companies can bring “world-class technology and innovation to Australia".

“Central to the market forces that shape our strategy, is customer demand. This collaboration will help us ensure our customers have choice and flexibility when it comes to their essential services.”

The future of energy in Australia will be smart and affordable, he added, with the partnership with OVO allowing the company to explore “the right innovative systems to meet future demand and digitising the customer experience.”

OVO expanded internationally for the first time in July 2020, when it expanded into the French market thanks to a partnership with Eni gas e luce.

It now has nearly 5 million customers, in part thanks to the acquisition of SSE Energy Services for £500 million. While this acquisition contributed to a loss of £106 million in 2019, the company has continued to expand its operations and leadership team, as well as increasingly targeting the electric vehicles segment, launching OVO Drive this March.

AGL supplies energy services to 4.2 million customers in Australia, and operates the largest electricity portfolio in the National Electricity Market, consisting of coal and gas-fired generation as well as wind, hydro and solar.

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