octopus energy twitter
Origin CEO Frank Calabria said, “The future of energy retailing lies in delivering superior customer experience at lowest cost and seamlessly integrating products and services, enabled by new technologies. On Sunday 5th April, thousands of customers on our AgileOctopus tariff got paid to use power between 10.30 and 4pm. Each team looks after approximately 60,000 customers. Octopus Energy is a tech-focused energy supplier for the UK market and we’re are looking for diligent and thoughtful software engineers, of any level of experience, to join our growing team. Good to know, the government currently has a ... Octopus Energy Ltd is a company registered in England and Wales. “By bringing together Octopus’ unique platform and operating model with Origin’s leadership in energy retailing in Australia, we will be able to accelerate delivery of our retail strategy. All past Agile ‘price plunges’ we’ve had have been in the early hours of the morning, when few people are using energy (so demand is really low) and there’s lots of wind blowing. ×. The strategic partnership will see Origin work with Octopus to adopt Octopus’ operating model and technology platform. When the E.ON and Origin rollouts are complete, more than 17 million customer accounts will have migrated to the platform in the UK and Australia. They have the most forward-thinking management of any market-leading energy company we’ve met and we admire their commitment to accelerate renewable energy adoption and deliver better service to Australian customers. Origin will acquire a 20 per cent interest in Octopus Energy and a licence in Australia to its customer platform, Kraken. Origin expects both S&P and Moody’s to reaffirm its investment grade credit ratings of BBB and Baa2. The strategic partnership will see Origin work with Octopus to adopt Octopus’ leading operating model and technology platform delivering significant benefits for Origin customers, employees and shareholders. But the outbreak has also meant lots of big industrial buildings with far higher energy demand – from large offices and factories to pubs and shopping centres – have had to shut their doors. Modern slavery statement. office: 2nd Floor, UK House, 164-182 Oxford Street, London W1D 1NN. “Octopus is genuinely unique in the global energy market, having purpose-built its low-cost operating model and technology platform around the needs of customers. Octopus has demonstrated success in managing large-scale customer migrations to Kraken, having carried out seven migrations totalling more than 1 million customer accounts. Savings from the Kraken rollout are on top of the existing target to reduce retail cost to serve by $100 million by FY2021. In a way, Agile customers are prototype “load shifters” for this future energy system, showing how it could work at a much larger scale. Hey I'm Constantine, welcome to Octopus Energy! Origin continues to adopt a disciplined approach to capital management, targeting adjusted net debt/adjusted underlying EBITDA within a range of 2-3x. Registered number: 09263424. Origin Energy Limited (Origin) has established a strategic partnership with fast-growing United Kingdom retailer and emerging technology business Octopus Energy (Octopus) to transform its retail operations delivering a radical improvement in customer experience, a material reduction in costs, and opening up future growth opportunities. Since its inception in 2016, Octopus has grown rapidly, with a customer base representing around 5 per cent of the UK market (approximately 1.5 million customers) and is pursuing opportunities to scale its model in other … This means fewer renewable plants sitting idle and more of our energy is coming from carbon neutral sources. pic.twitter.com/fwCbxMA8up, Things I’m doing during @octopus_energy Agile plunging price period..⚡️Charging the car⚡️Dishwasher on⚡️Washing on⚡️Dryer on⚡️Oven clean function on ⚡️Hot water on for showers we delayed this morning ⚡️Kids charging their power banksAm I missing anything . At Octopus Energy, customer service is provided by our universal energy specialists—who are organized into teams of ten or so. 1 £240 million hedged at an average AUD/GBP rate of 0.523, the balance is unhedged. Ripple Energy links up with my energy supplier (you have to be with specific suppliers Octopus Energy is one of them) and my supplier, Octopus Energy buys that energy and discounts my energy bill depending on how much energy my portion of the wind turbine has produced that month. Bulb came second overall, while EDF Energy was third as the highest-ranking large energy company. Registered office: 33 Holborn, London, EC1N 2HT. Octopus Energy Ltd is a company registered in England and Wales. Octopus has won numerous awards, alongside a 5-star rating on Trustpilot, the world’s leading customer review platform. . Origin will appoint one director and an observer to the Octopus board. Agile’s low prices reward customers for using energy when it’s greenest, rather than at times when it’s most convenient. Octopus Energy CEO Greg Jackson said, “Octopus has been courted by platform partners and investors from across the globe, but Origin shone out. The staged consideration is expected to be funded from cash and free cash flow over time. Over the next 24 to 30 months, Origin will transfer its 3.8 million retail electricity and gas customer accounts to the Kraken platform, delivering a step-change reduction in operating and capital costs, with expected pre-tax cash savings of $70-80 million in FY2022 increasing to $100-150 million annually from FY2024. Origin Energy Limited (Origin) has established a strategic partnership with fast-growing United Kingdom retailer and emerging technology business Octopus Energy (Octopus) to transform its retail operations delivering a radical improvement in customer experience, a material reduction in costs, and opening up future growth opportunities, Strategic Partnership with Octopus Presentation (PDF 566 kB). This combination of factors meant market energy prices went negative, and so Agile prices plunged: Our grid is so clean today that we will being paid to use electric ⚡️ on @octopus_energy #Agile Free fuel for the #Ev on our driveway pic.twitter.com/oJE4HyYD57, The thousands of customers on AgileOctopus were sent an alert on Saturday evening to let them know they’d be paid to use energy the next day. This will make every transaction simpler for our customers. With more wind, solar and hydro in the generation mix comes more variability, which requires flexibility to keep the grid in constant equilibrium where supply and demand balance perfectly. Mobile: +61 428 967 166, Liam Barry Get ready to switch off for the planet this Saturday, and shout about it to get more people involved – tag us @octopus_energy on Twitter or Instagram and use the hashtag #OctopusForEarthHour. Coupled with sunny and windy weather across much of the UK, there’s been a far higher share of renewable generation feeding the grid than ever before. It’s true that many of us are at home using more energy than we might’ve before, though it’s a lot less than you might think as we’re starting to come into warmer weather so high heating bills are coming down. As more and more wind and solar farms go live around the UK, we’ll continue to see a higher percentage of our energy coming from intermittent, renewable sources. How to Contact Octopus Energy Services . Building on existing digital and data analytics capability – real-time analytics and machine learning. The UK retailer is a leader in customer satisfaction, through technical innovation and a unique operating model. In order to provide you with the latest digital energy web services you need to use the latest and greatest web browsers. The research was conducted by … Typically, the grid has met this balancing challenge by relying on traditional, highly-polluting generation (gas, coal and oil) which can be turned down flexibly and at the expense of renewables. Posts IGTV Tagged. When there is too much power in the system the grid can sometimes even pay for suppliers to use more or generators to produce less – and that’s when prices can go negative. For every lightbulb and kettle that gets switched on around the country, there has to be an exact match for that power being pumped into the networks. Trading. Give me my Octopus! Octopus Energy uses the insights provided by Kraken and AWS to understand energy consumption rates across its business, down to the household level. Doing energy better, for you, your wallet, and the planet. This shift is crucial as we move towards being powered more by ‘intermittent’ energy sources like sun and wind power. Ph: +61 2 9375 5991 (that’s it explained in its simplest form I think ) You can opt to have 100% of your energy from your … Delivering sustainable value for Origin customers, employees and shareholders. When demand is lower than usual, the grid can end up with too much power and risk becoming unbalanced, which could in some cases lead to blackouts. This, coupled with the UK’s lower energy demand, meant that renewables provided a record-breaking share of the UK’s energy needs on Sunday – 40% from wind and almost 20% from solar. There will also be an estimated $100 million in accelerated depreciation associated with decommissioning existing systems over the implementation period. Modern slavery statement. While most conventional energy tariffs smooth out these price fluctuations for consumers, AgileOctopus passes them on – so customers can get the benefits of free or cheap energy, and are empowered to decide for themselves if they want to use less when power is in high demand, or to use more when there is a surplus. office: 2nd Floor, UK House, 164-182 Oxford Street, London W1D 1NN. These insights allow Octopus Energy to predict energy use across its network and inform … While household energy use is going up, business energy use is going way down. Taking Sunday as an example – all those customers did the washing, charged their cars, cooked, and charged their appliances in the middle of the day using sun and wind power, meaning they wouldn’t have to do it at 7pm that evening when everyone else in the country is using lots of (far more polluting) energy. 20 per cent equity interest in Octopus Energy, opening up growth opportunities. Click on this, then follow the steps to set up your account (you must have registered to be on supply with Octopus Energy and use the same email you supplied when you first contacted us). We use cookies to provide a great experience. Estimated transaction and implementation costs will be $80-100 million spread over four financial years, including parallel system running costs and decommissioning costs. Just go to octopus.energy and find the Account button in the top right corner of the homepage. Then, on Sunday morning, the especially sunny and windy weather brought a surge in renewable generation. Registered office: 33 Holborn, London, EC1N 2HT. Octopus continues to grow organically at approximately 40,000-50,000 customers per month with significant growth opportunities in both energy retailing and licencing of its Kraken platform in the UK and internationally. The transaction is funded with staged consideration1 of $134 million paid upfront and $373 million spread over four financial years, comprising equity instalments and progress payments related to the rollout of Kraken across Origin’s retail operations. Smart meters allow customers to do so much more with their energy. Trading. Octopus has disrupted energy retailing through its purpose-built Kraken platform and customer-centric operating model enabling superior customer service at lowest cost. Registered number: 09263424. The joint venture will be backed by working capital and growth funding provided by Tokyo Gas. 5,470 talking about this. TG Octopus Energy will be 30:70 joint venture between Octopus and Tokyo Gas which will supply 100 per cent renewable energy. If customers use up as much energy as they can during times when the electrons coming down the wires are mostly green ones, there’ll be less need for them to use power during the daily energy ‘peaks’, when there’s lots more energy consumption and so more fossil fuel generators have to be called upon to meet the demand. Need help? If you’ve got one, we always love to see them on Instagram and Twitter – make sure to tag @octopus_energy! Targeting pre-tax cash savings of $70-80 million in FY2022, increasing to $100-150 million annually from FY2024, in addition to the $100 million cost out program already underway. Anneliis Allen (OCNZ) Funded by Octopus Energy it is the first of its kind in the world.All technology from the facility will be made public. Dedicated teams from Origin and Octopus will implement a fully customised version of Kraken across Origin’s retail divisions. This weekend provided the energy networks an opportunity to manage this supply and demand with a far higher share of power coming from intermittent renewable sources. With the climate emergency being upon us anything that brings together the energy industry, technology, and policymakers is simply amazing in my books! Why do I need to have a smart meter for this? Trading. Origin to adopt fast-growing UK retailer Octopus Energy’s market leading operating model and customer platform, Kraken, to fast-track material improvements in customer experience and costs. Staged consideration: $134 million on completion and $373 million over four financial years ($48 million contingent on delivery of certain milestones). Origin has made good progress on improving customer experience and reducing operating costs within existing business structures and technology. 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