Our customer service metrics actually improved during the pandemic, and we were the only large domestic energy supplier in the UK still answering calls as usual. Theres some blokes with phones, and what theyve always done is phoned up coal and gas power stations and told them to turn on and off. It is truly bonkers, he says, that the UK persists with a system in which central planners decide what cables are going to go where you can centrally plan a system thats got 100 power stations. The customer accounts will be migrated onto Kraken from 2023, increasing the number of energy accounts contracted to be served via Kraken to over 20million worldwide. [66] The campaign artwork was exhibited at over 5,000 sites, making it the largest ever digital out-of-home (DOOH) art exhibition. You cant become a car dealer if you havent got the money to buy cars, says Jackson, exasperated. In this episode Greg shares not only what it means to be a successful leader and team player, but how to live a more authentic life altogether. Driving full energy system change, the Group consists of 10 businesses across the energy value chain, operating in 8 countries globally and supporting 3.2 million customers in the UK. Day-to-day, she works closely with regulators, industry bodies and policy makers to shape the energy system of the future. Octopus online presence consistently scores highly with consumer watchdogs and thanks to Rebecca, our customer-centric marketing has helped us achieve exceptional customer growth and the Which? Could Octopus become another Bulb? Zoisa also runs Octopus Energy's renewable generation arm, which recently announced the acquisition of a 3GW portfolio of renewable energy assets across seven countries. Before starting KrakenFlex, Devrims professional career saw him take up executive roles with blue chip management consultancies and finance companies such as Publicis Sapient, Kearney and Lansdowne. Energy companies around the world still maintain that natural gas (perhaps cleaned up with a puff of hydrogen) is the transition fuel that will take us to net zero. Greg is an experienced digital entrepreneur, passionate about making the green energy revolution affordable through technology. [9], In 2018 Hanwha Energy Retail Australia (Nectr) chose the Kraken platform, developed by Octopus to provide billing, CRM and other technology services to support its launch into the Australian retail energy market. Greg Jackson was born in Washington D.C. to Kris and Jim Jackson, who were Quakers originally from the Midwest. Octopus Energy is currently value at $2 billion, how did this evaluation come about? She loves supporting kind, high performing teams and individuals who want to positively change the world. Hey I'm Constantine, welcome to Octopus Energy! How much of your upbringing, surroundings and environment influenced your entrepreneurial journey? I want them to feel happy and fulfilled by the work they do. The company also supplies software services to other energy suppliers. Deepak Ravindran moved over to lead Kraken Utilities from Boston Consulting Group (BCG) in 2022. After his parents split, his mother worked as a barmaid and later studied while on benefits. [1] He has never taken a bonus, and owns a 6% stake, worth about 240m. Support 100 years of independent journalism. Located in Slough, the centre will train 1000 heat pump engineers per year and develop new heating systems. Prior to joining Octopus Energy as Director of Operations, Tara spent three years at Tesla helping scale their service organisation in the UK & Benelux and as Country Manager for the UK. She has done this all while maintaining some of the very best customer service ratings in the industry. Or the F-word., Original reporting and incisive analysis, direct from the Guardian every morning, Octopus Energys Greg Jackson: Climate change is no longer this vague thing, Greg Jackson: We want a similar effort [on renewables] to the vaccine rollout.. How would you define a successful business leader? Our team is made up of climate enthusiasts who know that switching people to green energy and growing that customer base around the world is the number one thing we can do to turn the tide on climate change. Devrim is the CEO of KrakenFlex, formerly Upside Energy, which joined the Octopus Energy Group in 2020 to add another layer of capabilities to Octopus's energy technology platform, 'Kraken'. [70][71], In June 2021, Octopus suspended their advertising from the newly launched GB News television channel after the channel's first day of broadcasting, with CEO Greg Jackson stating "we are asking networks not to air our ads on new channels until we've seen their output for a period of time". Registered number: 09263424. Greg Jackson founded Octopus Energy in 2015 with a view to using technology to make the green energy revolution faster and cheaper for consumers. has recommended 5 years in a row. [38], As of August 2021, the company has over 2.4 million domestic and business customers. One business C360 that was subsequently acquired, was founded to pioneer a new way of using technology to drive marketing or as Greg puts it SaaS before it was trendy. Greg is also an investor in several tech start-ups and as an advisor, supports companies and entrepreneurs with fundraising, mergers, acquisitions and strategy. [35] As a result of these acquisitions, Octopus now has retail, generation or technology licences in 13 countries across four continents. Hello Greg, and thank you for taking the time our to participate in this interview. The companys flexibility platform KrakenFlex will be used together with Elia Groups energy data affiliate, re.alto, to enable electric vehicles, heat pumps and other green technologies to be used for grid balancing. Fiona studied Engineering, Economics and Management at Oxford, and initially worked at BMW on a hydrogen fuel cell for an auxiliary power unit, as part of a hydrogen car that used a combustion engine. Please refresh the page and try again. The campaign won the 2020 Marketing Week Masters award for utilities, and the 2020 Energy Institute award for Public Engagement. He also holds an MBA from Yale University and is an independent non-executive director of the Thames Estuary Growth Board, where he co-chairs the hydrogen committee, and a Member of the Yale University Alumni Association Board of Governors. She spent some time consulting for a FTSE 100 energy company, followed by a secondment to the Department for the Energy & Climate Change (DECC), and then launching market-leading connected home products - starting at British start-up Alert Me, who became part of the leading smart home provider Hive, a British Gas innovation. Sign up to receive information regarding NS events, subscription offers & product updates. Octopus Energy Group is a British renewable energy group specialising in sustainable energy. Besides industry-standard fixed and variable tariffs, the company is known for innovative tariffs which are made possible by the national rollout of smart meters. Prior to joining Octopus Energy, Lara worked at US-based Opower, a customer engagement start-up and pioneer of Behavioural Energy Efficiency. He spends around an hour each day dealing directly with customers to understand that experience better, along with discussing trade-offs such as pricing strategy and infrastructure. Deepak holds an MBA in Marketing, Strategy and Information Systems from the Indian Institute of Management and a B Tech in Chemical Engineering from the Indian Institute of Technology. People thought electric vehicles wouldnt take off but look at Tesla now. You can tell if someone grew up in a cold house: we often prefer baths when you get out of the shower you get a real shock, he says. Rachel also works hand-in-hand with consumer bodies to ensure all customers are well served and benefit from the transition to net zero. Building on the award winning end-to-end entech platform, Kraken Utilities will create customer centricity and automated, scalable and efficient operations for other traditionally low-tech sectors, allowing innovation at pace. In regards to your global expansion plans, Octopus Energy is currently located in three continents, do you have any plans of expanding into Africa or acquiring any green energy businesses in Africa? What defines a successful entrepreneur? His morning routine echoes the tycoons underprivileged childhood. KrakenFlexs cloud-based technology platform controls distributed energy assets such as large-scale batteries, EVs, or heat pumps with machine learning and AI to match electricity supply and demand, helping the electricity grid deal with the natural volatility of renewable generation. Deepak has been involved as a partner to Octopus Energy Group since 2018. Mohamed Abubakar, his wife Rasha Al-Buriahi and their four children all sleep and eat in the same room. A quick update on the week in companies, markets, finance and the world of work. [7] The same year, Octopus replaced SSE as the energy supplier for M&S Energy, a brand of Marks & Spencer,[8] and bought Affect Energy, which had 22,000 customers. What is the number one trait you look for in employees before recruiting them as part your team, and how has this requirement been integrated into the organisations culture and recruitment policy? Interview with Entrepreneur - Greg Jackson - CEO of Octopus Energy. Greg Jackson isnt your average energy company CEO. You can meet Greg Jackson and hear more about where he got where he is today at My Entrepreneurial Journey with Greg Jackson on Thursday, 21 November. I read an article recently where you said Octopus Energy dont have a HR department. Rebecca holds a Bachelor's degree from Nottingham University Business School. Her work focused on making essential services sustainable, high quality and affordable. Greg Jackson is CEO of Octopus Energy, which is valued at more than 1.4billion . Octopus Energy has a multi faceted business model, generating value from different revenue streams. The green energy firms founder on his sympathy for those struggling with bills and his exasperation at net zero opponents. The New Statesmans weekly environment email on the politics, business and culture of the climate and nature crises - in your inbox every Thursday. [5], By April 2018, the company had 198,000 customers and had made an energy procurement deal with Shell. Greg: The pandemic certainly hasnt slowed us down. Jon has worked for the last 18 years building a number of successful energy challengers, service innovators and disruptors across both Australia and the UK. James is an e-commerce specialist who was the brains behind a number of high profile tech platforms for clients such as the UK Labour Party, Citroen and Hermes, among others. Upon the acquisition, Octopus announced it was targeting a million Spanish energy accounts under its brand by 2027. Octopus Energy for Business works with companies to provide future-proof energy services, supplying them with 100% renewable and fairly priced power. Our last question before ending this interview is around environmentally sustainable businesses and their impact on climate change. The plan allows households to become part of the UK Tesla Virtual Power Plant, which connects a network homes that generate, store and return electricity to grid at peak times. You have cofounded a number of companies over the last 20 plus years, so its fair to say you are a serial entrepreneur. Customers on the tariff get a 20% discount on the unit price when the turbines are spinning, and a 50% discount when the wind is above 8m/s (20 mph). Read more . We need to work like that now on the clean energy system., [See also: The power trap: Why the energy crisis is a crisis of politics], This article appears in the 13 Oct 2021 issue of the New Statesman, Perfect Storm. [45][46] At the time of the acquisition, the generation assets were reported to be worth over 3.4billion. We are also able to license out Kraken to other energy companies, allowing them to make use of the same efficiencies. This interview was originally published on our sister platform, ChangeinAfrica Magazine, the content is wholly owned by Innoglo Ltd. Mon - Fri: Respond with 24 hrs In your view what does it mean to be an entrepreneur and are all entrepreneurs businessmen or women? Diversity is extremely important during our hiring process, and we anonymise CVs so that we can hire for the people behind the name and profile. T&Cs  We have an aim to reach over 100 million customers by 2027, whether thats via other companies licensing Kraken or customers joining Octopus Energy, so we never say never for any country or continent, even if we dont have any plans to at the moment. Aside from that, every experience has helped in some way or another, and been a vital lesson to learn to get me where I am today. His old gym, Greg Jackson Fighting Systems won the Gym of the Year award in 2009. [3] Trading began in December 2015. Internally its called Winder (wind-Tinder, geddit?). A relaxed evening talking with Greg Jackson, the founder and Phil Steele Future Technology Evangelist of Octopus Energy.You can email the Octopus team as ref. Our CEO Greg explains why standing charges are higher on new energy tariffs, and why electricity standing charges have gone up more than gas ones. In our experience this leads to strong relationships between managers and team members, happier employees and higher productivity. The collection of projects reflects Jacksons entrepreneurial background. It has enabled us to lower our costs to serve up to 75% compared to some of our competitors Thanks to Kraken, we are able to scale our customer service team quickly to take on new customers and keep them happy. [67] As a result of the campaign, Octopus registered a 163% increase in sign-ups and gained 37,000 customers. [27], In November 2021, Octopus announced in Manchester that it had signed a deal with the city region as part of a bid to become carbon neutral by 2038. He now runs Octopus, the green energy supplier founded in. There is growing evidence that diverse workforces are more productive than non-diverse workforces. [5], In December 2021, Octopus Energy announced a long-term partnership with Canada Pension Plan Investment Board, raising US$300m and taking the valuation of Octopus Energy Group to approximately $5bn. [3][4][5][6] Jackson has trained many successful fighters, including former UFC Light Heavyweight Champion Jon Jones, former UFC Welterweight Champion Georges St-Pierre, former UFC Women's Bantamweight Champion Holly Holm, former Light Heavyweight Champion Rashad Evans, and a roster of other UFC contenders and World Extreme Cagefighting champions. Weve raised 16 times more investment than Bulb did. To be the first to hear about our events, get immediate access to new podcast episodes, and hear news picked just for you Join our community! Our researched showed that Octopus Energy has grown its domestic customer based in UK, from just 198,000 customers in 2018 to over 1.5 million customers in 2020. . Greg Jackson starts each day by flicking on the radio and scrunching into his bath. Headquartered in London, the company has operations in the UK, France, Germany, Italy, Spain, Australia, Japan, New Zealand and the United States. [50][51] In November 2021, Octopus Energy announced plans to raise 4 billion to fund the global expansion of its Fan Club model, which would be expanded to include solar farms. His morning routine echoes the tycoons underprivileged childhood. [42], As part of their partnership agreed in August 2019, Midcounties Co-operative and Octopus established a joint venture to develop the UK's community energy market and encourage small-scale electricity generation. In order to provide you with the latest digital energy web services you need to use the latest and greatest web browsers. Rebecca came to Octopus Energy following an eight-year career at UK energy company British Gas. The migration was hailed as being responsible for E.ON's financial recovery in the UK. Jackson and his family moved to Albuquerque, New Mexico when he was three years old. Theyve been characterised as inexperienced and foolhardy for not hedging their energy far enough in advance. Octopus Energy Ltd is a company registered in England and Wales. took on 600,000 customers from bust Avro Energy, a small noisy group, including Nigel Farage, attacking net zero goals. Greg Jackson on Twitter: "Octopus Energy recent commitments: 10,000,000 to build a decarb of heat R&D centre 5,000,000 to establish the Centre for Net Zero 108,000 to its BLM fund 1,000 ad on a right wing channel So, 15,108x more on progressive stuff More soon, but hope perspective helps." / Twitter. [18] The same month saw the launch of London Power, a partnership with the Mayor of London. We'll monitor any new channels (including this) before running ads and will only advertise if balanced and meets our policies", "As per my message, we didn't boycott - I wanted to see the channel and am true to my word", "GB News hails boycott victory - Full list of advertisers BACKING Andrew Neil's channel", "Octopus Energy's Greg Jackson: 'Climate change is no longer this vague thing', Timeline of the electricity supply industry, Department for Business, Energy and Industrial Strategy, Minister of State for Business, Energy and Clean Growth, Department for Environment, Food and Rural Affairs, Climate Change and Sustainable Energy Act 2006, Centre for Renewable Energy Systems Technology, Hadley Centre for Climate Prediction and Research, Association for the Conservation of Energy, Double Glazing & Conservatory Ombudsman Scheme, https://en.wikipedia.org/w/index.php?title=Octopus_Energy&oldid=1128995384, Electric power companies of the United Kingdom, Renewable resource companies established in 2015, Renewable energy companies of the United Kingdom, Articles with unsourced statements from October 2021, Articles containing potentially dated statements from September 2021, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, Greg Jackson (CEO), Stuart Jackson (CFO), James Eddison (CTO), Zoisa North-Bond (CEO, Octopus Generation), Rebecca Dibb-Simkin (CMO), Peter Miller (Customer Experience) Fiona Howarth (CEO, Octopus Electric Vehicles), This page was last edited on 23 December 2022, at 02:23. With the pandemic, we took the 15 years it usually takes to make a vaccine, and did it in less than a year. What advice do you have for other businesses on environmental sustainability and its impact on climate change? Octopus took on 600,000 customers from bust Avro Energy last year, and Jackson accuses the administrators of arguing and quibbling over completely unimportant technical points. He began developing software (in the form of video games) at 16, then studied economics at Cambridge before running a mirror factory, then founding a number of technology-led businesses. Jackson reaffirmed that Octopus had not boycotted the channel. Before joining Octopus, Rachel served as the Chief Executive of Ofwat, the UK's water regulator, and as a Senior Partner and Board member of Ofgem, the UK energy regulator. Jackson came from a family of wrestlers (his father, brother, and uncle were all champions in the sport). Before Bulbs collapse, Octopus flirted with taking over its rival. Im just gobsmacked anyones opposing this., Does being a flag-bearer for green energy get him in hot water at dinner parties? Greg: Octopus is unusual. Whats your take on this concept and how diverse is your leadership ranks in Octopus Energy? Greg: No country is off limits to Octopus Energy, we aim to bring cheaper, greener energy and world-class customer service to many people all over the world. Jackson, 50, grew up near Middlesbrough. Octopus is also unusual in that, as well as selling to consumers, it derives more than half its value from the technology it licenses to other businesses in the UK and around the world (a model reminiscent of Amazon). Jackson said that Octopus would be monitoring GB News content to ensure the channel would not be in breach of Octopus' advertising policy. Octopus are on a mission to bring cheaper, greener power to all. Cheap energy bills arent coming back this decade, Christopher Harborne: the silent donor behind Brexit and Boris Johnson, Sherif Tawfik: The Middle East and Africa are ready to lead on the climate, The power trap: Why the energy crisis is a crisis of politics, Elon Musk was never really the worlds richest man, Why Jeremy Hunt is gambling with thousands of small businesses, The year woke broke: a brief history of a contested word, Why Britains economy has never been worse, with Duncan Weldon, The good social network: what Twitter could learn from the coffeehouse Audio Long Reads, Facility / Grounds Management and Maintenance, HR, Training and Organisational Development, Information and Communications Technology, Information Services, Statistics, Records, Archives, Infrastructure Management - Transport, Utilities, Science and Technical Research and Development. I lived through rip-roaring inflation in the 1980s and double-digit interest rates. Sunday: 8am - 11pm, Interview with Entrepreneur - Greg Jackson - CEO of Octopus Energy. A weekly newsletter helping you fit together the pieces of the global economic slowdown. Epitomising the agile leadership that is synonymous with disruptive businesses, Zoisa leads both the generation the business retail arm of Octopus Energy. We have already done this in countries like Australia, Germany, US, New Zealand and Japan, so we still have many more countries that could benefit from this technology and our business model. Octopus energy is the UK's fourth largest energy provider, which boss Greg Jackson says he started because people were "paying too much" on their bills. Profit? We scaled the business by repeatedly cloning micro businesses, and what works for us wont work for other businesses. A day later, Generation Investment Management, a fund chaired by Al Gore, committed to a $600m investment in Octopus. Spaces are limited for this very special event so make sure you dont miss out by signing up, To be the first to hear about our events, get immediate access to new podcast episodes, and hear news picked just for you . Jackson has trained many successful fighters, including former UFC Light Heavyweight Champion Jon Jones, former UFC Welterweight Champion Georges St-Pierre, former UFC Women's Bantamweight Champion Holly Holm, former Light Heavyweight Champion Rashad Evans, and a roster of other UFC contenders and World Extr Prior to Octopus Energy, Zoisa was the UK Managing Director of the Dutch Utility, Eneco B.V. At Eneco, Zoisa helped grow the UKs renewable asset portfolio which consisted of more than 250MW of wind and solar projects, including a direct wire project with Honda of the UK Manufacturing Ltd. Eneco UK also supplied blue-chip companies such as Mars, Unilever, Heineken and AkzoNobel. By expanding to so many other countries and really capitalising on the technology we create, we are able to have an edge on the competition. With the crisis that toppled so many suppliers continuing to rage, Jackson thinks the chancellor, Rishi Sunak, is right to plough 15bn into addressing the cost of living: It makes economic sense for the government to find ways to bring bills and inflation down. Currently, Octopus Energy has more than 750,000 customers with 100 per cent renewable electricity, despite only setting up three years ago. Rebecca is a highly experienced marketer and known for breathing new life into technology products. Octopus Energy was established in August 2015 as a subsidiary of Octopus Capital Limited. [10][11], In August 2019, an agreement with Midcounties Co-operative saw Octopus gain more than 300,000 customers, taking its total beyond 1 million. [64] Kraken also has strategic partnerships with Hanwha Group and Tokyo Gas. It was at that point she founded Octopus Electric Vehicles, and since then has been building a team of experts passionate about helping consumers and businesses make that transition to electric vehicles. Rumours are that he may be training Zack "The Assassin" Stiles, 16 year old, in the future. By 2030, Octopus aims to supply around 2.5 million households with green electricity through Fan Club schemes. Greg: Believe it or not, I dropped out of school at 16 to start creating video games before eventually going to Cambridge University. He says it took years to find the 10m he needed to launch Octopus. [33], In December 2020, Tokyo Gas paid about 20 billion yen ($193 million) for a 9.7% stake in Octopus, valuing the company at $2.1bn. Octopus boss Greg Jackson claims the energy giant has 'never made a profit' on Martin Lewis money show. [31], In November 2021, EDF Energy agreed a deal with Octopus Energy Group to move its five million customers onto its Kraken platform. They will be global.. survey and was one of three recommended providers. Please talk us through your operating business model, how it generates value and how this gives you a competitive edge in the retail energy market? At Octopus he has responsibility for finance, procurement & market risk management, customer acquisition and data science. Since our interview, Octopus has rejoined the race, submitting a last-minute bid. Rachel started her career in utilities as a consultant where she worked on a number of international energy industry privatisation and restructuring projects. [14] In January 2020, Octopus was ranked first in a Which? You can tell if someone grew up in a cold house: we often prefer baths when you get out of the shower you get a real shock, he says. Thats an amazing 658% growth in your domestic customer based alone, and within the span of 2 years. Prior to that Stuart spent 6 years with Barclays Bank, including a stint running a 5bn credit card business and 10 years as a strategy consultant. Despite the current crisis of price and supply in the gas market, its described by BP as resilient and by Centrica as more affordable than other energy sources. We then realised the change within the energy industry we could enable with a strong technology platform underpinning us, and thats how Octopus Energy came about. Passionate, creative, innovative CEO, entrepreneur and investor. This long-term mission is not only to supply renewable energy all of Octopuss tariffs are advertised as 100 per cent green, and power either comes directly from renewable sources or is certified as renewable using the Rego certificates that Ofgem uses to match power sourced from the open market to renewable supply but to disrupt the UKs dysfunctional energy market. Britains failure to invest in renewables led us into the gas crisis, says Jackson, and a revolution in energy supply and policy is urgently needed. Are you happy doing what youre doing? [62][63] The Kraken software was also licensed to Australia's Origin Energy as part of their May 2020 agreement. Jackson explains need for market reform to move to renewable energy sooner. KrakenFlex is currently contracted to manage over 1,600 MW of power with further 2 GWs of renewable generation to come online through 2022. His first job on the milk round earned him 15 a week and he joined Greenpeace at sixteen. 464 views May 4, 2022 Greg Jackson is the founder and chief executive of Octopus Energy, one of the UK's fastest-growing energy companies. [30], In May 2020, Australian electricity and gas supplier Origin Energy paid A$507 million for a 20% stake in Octopus. It takes seven years to get a windfarm through the planning process and connected to the grid. reg Jackson starts each day by flicking on the radio and scrunching into his bath. He began his career at consumer goods giant Procter & Gamble before running businesses including a coffee shop and a mirror manufacturer. Stuart Jackson is the Co-Founder and Chief Financial Officer of Octopus Energy. London Tuesday 8th November - This evening, the founder and CEO of Octopus Energy, Greg Jackson, joined consumer champion Martin Lewis on his flagship TV show on ITV. As of September 2021 the company has over three million domestic and business customers, making it the fourth largest energy supplier [60], In March 2020 it was announced that E.ON and its Npower subsidiary had licensed the technology to manage their combined 10 million customers. The contemporary Jackson-Wink MMA Academy won the same award in 2015.[9]. Will Dunn is business editor of the New Statesman. [72], Responding to Octopus Energy's decision on Twitter, Andrew Neil, founder of GB News, said "Let me know if you want to advertise. Origin invested a further $50m at the same time, to maintain its 20% stake. It was founded in 2015 with the backing of British fund management company Octopus Group, a British asset management company. In May 2020, her team launched the Electric Juice Charging Network, the UK's first consolidated network of charge point providers that allows users to charge their EVs across the UK with all costs appearing on a single bill. My Entrepreneurial Journey with Greg Jackson on Thursday, 21 November. Registered office: UK House, 5th floor, 164-182 Oxford Street, London, W1D 1NN. To mark International Men's Day today we are giving a shoutout to the leading men in energy supporting the work of POWERful Women and driving better balance . 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A consultant where she worked on a number of international Energy industry privatisation restructuring. Positively change the world of work 2015 with the Mayor of London power, a renewable! A windfarm through the planning process and connected to the grid in sign-ups and gained 37,000 customers currently at! Fit together the pieces of the global economic slowdown for not hedging Energy. [ 5 ], by April 2018, the green Energy revolution faster and cheaper for consumers of... Value at $ 2 billion, how did this evaluation come about his! August 2021, the centre will train 1000 heat pump engineers per year and develop heating. Vehicles wouldnt take off but look at Tesla now maintaining some of the campaign, Octopus rejoined. Is an experienced digital entrepreneur, passionate about making the green Energy greg jackson octopus wife faster and cheaper for consumers individuals! Much of your upbringing, surroundings and environment influenced your entrepreneurial journey with greg Fighting! By 2027 shape the Energy system of the same month saw the launch of London power a.
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