Portsmouth Water agrees landmark deal to license Kraken

• Portsmouth Water becomes first water client of tech platform Kraken
• Move allows Portsmouth Water to speed up smart meter rollout, provide vital products and build on its already leading customer services score
• Deal follows fast on the heels of Kraken’s deal with internet provider Cuckoo

Portsmouth, Tuesday 18th July 2023 - Portsmouth Water, the company in charge of ensuring safe, clean water is provided throughout Portsmouth and the surrounding area, becomes the first water utility to adopt Kraken to oversee all its 324,000 customers.

Ranked in the top three water companies on Ofwat’s league table for customer service, Portsmouth Water will implement this revolutionary tech platform to empower its customer-facing team to deliver the finest overall service in the industry.

Kraken was built by Octopus Energy Group and has already transformed the energy sector. It is contracted to serve over 30 million energy customers globally through deals with companies such as Plenitude, EDF and Origin Energy.

Octopus Energy was Kraken’s first client and rapidly grew because of its quick and efficient service enabled by the platform. It is now the UK’s second largest energy supplier and the only one that has been recommended by consumer champion Which? for six years in a row.

The partnership with Portsmouth Water is Kraken’s second deal outside of energy, following the Utilities arms recently announced partnership with broadband provider Cuckoo.

It is a landmark move towards digitising the water industry. The new deal will allow the company to drive down per capita consumption (PCC) within the water stressed region – an important regulatory target for the water industry.

Leveraging Kraken will allow Portsmouth Water to roll out smart meters, improving water efficiency and reduce leaks – a proactive move to address the challenges posed by climate change.

The innovations delivered by Kraken will enhance the speed to serve for vital services such Portsmouth Water’s social tariff for those on low incomes, and the Priority Services Register.

This register allows Portsmouth Water to identify customers who may need extra support in an emergency, such as young families, those recovering from an accident or illness, or living with physical and mental disabilities.

Kraken will also enable the replication of Octopus’ famously efficient operating model which reduces the cost-to-serve by up to 40% and leads to better client and employee satisfaction.

Commenting on the partnership, Bob Taylor, CEO of Portsmouth Water, said: "We are thrilled to be the first water utility to license the Kraken platform, which we believe will provide our customers with a more efficient and transparent service, meanwhile ensuring our systems are safe and secure. Most vitally, Kraken will allow us to supercharge the smart meter rollout in the water industry and will help our customers understand their consumption and identify leaks quickly and easily.”

Deepak Ravindran, CEO of Kraken for Utilities, said: “Portsmouth Water has proven it is one of the most forward-thinking utility companies in the UK, and is committed to improving the water industry through better customer experience and products. By partnering with Kraken, Portsmouth Water will be able to unlock new levels of efficiency and benefit from a formula that has seen countless energy companies improve their relationships with customers and regulators.”

Matthew Hamilton, Chief Customer Officer at Portsmouth Water, said: “I am excited to embark on this journey with Kraken. This is a transformative step forwards for Portsmouth Water that will further enhance our customer experience. By embracing this new CRM technology, we're not just enhancing our team efficiency; we're crafting memorable interactions with our valued customers that will leave a lasting impression. Together with Kraken, Portsmouth Water is playing a key part in shaping the future of customer service in water; and it's a bright future ahead.”

-ENDS-

Bob Taylor, CEO of Portsmouth Water and Deepak Ravindran, CEO of Kraken Utilities

Media contacts

Octopus Energy Press office

press@octoenergy.com

+44 2045308369

Portsmouth Water Press

Polly.mortlock@portsmouthwater.co.uk

07789697504

About Kraken

Kraken offers a best-in-class end-to-end platform for utilities including energy, water and broadband, and is operating in the UK, Japan, US, New Zealand, Australia and most of mainland Europe. Kraken’s proprietary platform is contracted to serve over 30 million energy accounts across the globe through licensees and its parent company Octopus Energy, where it is responsible for the acquisition and management of 5.3 million domestic and business customers.

Based on advanced data and machine learning capabilities, Kraken automates much of the utility and energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralized, decarbonised energy system.

Kraken is part of Octopus Energy Group, and was developed to enable select third parties to take advantage of the technologies developed by Octopus Energy. It has already been licensed by major global players including Origin Energy, E.ON, Tokyo Gas and EDF. The platform is on track to reach 100 million energy accounts by 2027.

https://kraken.tech/

About Portsmouth Water

Portsmouth Water is one of the oldest water companies in the country, having been incorporated in 1857.

Our Water Sources

Our water, of high quality, is derived from the chalk of the South Downs and is abstracted from wells, boreholes, springs and the River Itchen. The Springs at Havant and Bedhampton are thought to be the largest group of springs used for public supplies in Europe. 

Statistics

We serve 324,000 homes and businesses in an area covering 868 square kilometres (335 square miles) from the River Meon in Hampshire to the River Arun in West Sussex. Every day we supply around 170 million litres (37 million gallons) of water to a population of over 720,000 people at the lowest cost in England and Wales. 

Portsmouth Water is proud to be rated second in the Customer Measure of Experience (C—Mex) within the water industry in the 2022-23 results.

Our Network

Water is supplied to our customers through a network of over 3,300 kilometres (2,000 miles) of underground water mains and more than 300,000 individual service connections, all of which are continuously maintained by our distribution staff. 

www.portsmouthwater.co.uk

About Octopus Energy Group

Octopus Energy is a global energy and technology group, driving the affordable, green energy system of the future. Its operations span 14 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.

Octopus serves 5.3 million customers through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support 30 million customer accounts worldwide through licensing deals with energy companies, including 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.