Octopus Group

Octopus Energy Group has signed a deal with Impello Limited (Shell) to buy Shell Energy in the UK and Germany, subject to regulatory approval.

Octopus Energy has called for “more action, speed and results to clear the grid connection queue” as it outlined its five-point plan to quickly connect 5.7GW of renewable projects.

​Octopus Energy Group more than doubled its revenue in the full-year 2022 from a year earlier, lifted by the strength of its Kraken billing platform business and rising customer numbers.

Octopus Energy has continued its international expansion, targeting a 1.1GW energy generation portfolio in Italy by 2025.

Octopus Energy Group has entered a financial and strategic partnership with Xlinks, the company behind a project to link the UK with solar power in Morocco.

Energy trading firm Danske Commodities is to contribute to grid flexibility across Europe and America, having signed a five-year deal with Octopus Energy Group’s KrakenFlex.

​KrakenFlex, the energy flexibility arm of Octopus Energy Group, has partnered renewable energy solutions provider Hydro REIN for several projects across Europe and North America.

​A new partnership between the Greater Manchester Combined Authority (GMCA) and Octopus Energy is to examine increasing the flexibility of Greater Manchester’s energy supply and create new jobs.

​Octopus Energy saw its revenue grow +160% in the fiscal year 2019/2020, jumping from £477 million to £1.24 billion.