Octopus skyrockets to the UK’s largest energy supplier, serving 1 in 4 households

• Octopus surpasses all energy suppliers, grabbing 24% market share
• Now serves 7.3m customers in the UK, with one new customer joining every 30 seconds
• Comes the same day the disruptor is named Which? Recommended Provider for 8th year running
• Recently recognised as the best place to work in the UK by Zensai

London, 17th January 2025 - Just nine years after launching to the market, Octopus Energy has become the UK’s largest energy supplier, providing energy to more accounts than any other business.

This is the first time the top position has changed since the energy retail market opened for competition in the ‘90s.

Octopus led the switching market in 2024, with nearly one million customers choosing to join from other suppliers – one new customer every 30 seconds*.

This brings the company’s market share to c. 24%, with 12.9 million UK meters on supply, according to data from Cornwall Insight**.

The news comes as consumer organisation Which? once again names Octopus as a ‘Recommended Provider’ for an 8th consecutive year – the only energy company to ever achieve this feat.

The company’s unparalleled service is reflected in many surveys, but Which? is widely seen as the gold standard.

Octopus is not only great for customers, it’s loved by staff too. The company was named by Zensai as the best place to work in the UK, with very strong Glassdoor scores, and is included in the Sunday Times Best Places to Work list for 2024***.

Octopus Energy Group, which is valued at $9 billion, is often hailed as a UK business success story. Its relentless commitment to customer satisfaction, cutting-edge technology, and operational excellence has propelled it from a small UK challenger to a global energy and tech leader.

With over $2 billion in financial backing Octopus continues to innovate and expand at pace. In 2024 alone, it welcomed 4,750 new hires across the Group, bolstering its workforce to meet the needs of its rapidly growing customer base.

The company is now active in 26 countries, serving 9 million customers globally. It is also one of the largest specialist investors in renewables in Europe, managing a portfolio worth £7 billion.

Greg Jackson CBE, Founder of Octopus Energy, comments: “We became Britain’s biggest energy supplier by relentlessly delivering better service, lower costs and more innovation. We’ve invested heavily in technology to deliver this rare combination of rapid growth and outstanding service.

“It’s not a coincidence that we have been named “best place to work” recently too. It shows what we all know - great technology and a happy team deliver happy customers. Companies, governments and regulators visit from around the world to see this in action and I’m proud to share what British companies can do.”

Dan Morris, CEO at Cornwall Insight, says: "This is quite honestly the biggest development in the domestic retail energy market since it opened. Octopus Energy started from zero market share in 2015 and has worked its way up to the top spot on this measure in less than a decade. This is a notable achievement in the highly competitive and tightly regulated UK supplier market.”

Phil Amy, Which? Commercial Director, said: “In our latest annual energy supplier survey, Octopus was awarded the highest overall score and named a Which? Recommended Provider for the eighth year in a row. Customers gave Octopus five-star ratings across most categories – including for overall customer service, ease of contact and accurate payments.

"Octopus has maintained its status as a recommended provider for several years running as it has increased in size. It must continue to provide the customer service, support and value for money that its customers have rightly come to expect."

-ENDS-

Notes to editors:

* This excludes any customers who joined Octopus through company acquisitions and doesn’t consider customers who chose to leave Octopus.

** According to data from Cornwall Insight’s Domestic Energy Market Share Survey, as of the end of 2024, Octopus has 12.885 million meters on supply, 320,000 more than the 2nd biggest energy supplier.

*** As of January 2025, Trustpilot score: 4.8 out of 5. Glassdoor score: 4.4 out of 5. The Sunday Times Best Places to Work 2024. Zensai - UK’s top 100 places to work.

Press Contacts

Octopus Energy Group

press@octoenergy.com

+44 (0)20 4530 8369

About Octopus Energy Group

Octopus Energy is a global clean energy tech business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting edge energy products to 9 million households globally. Its operations span 18 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £7 billion portfolio of projects.

Octopus has licensed its advanced data and machine learning platform, Kraken, to support over 60 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON and Origin Energy. Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website.