Octopus Energy buys Affect Energy

The deal was signed for an undisclosed seven-figure sum

The Big Zero report

Octopus Energy has bought a competitor for an undisclosed seven-figure sum.

The 100% renewable supplier will add Affect Energy’s 22,000 customers to its existing base of 350,000 consumers.

The firm also recently announced it would supply energy with the M&S Energy division and was appointed to take over Iresa’s 95,000-strong customer-base after it went out of business.

Two-year-old independent supplier Affect Energy is notable for its strong customer service credentials, maintaining a 9.5/10 rating on consumer ratings site TrustPilot, the same score acheived by Octopus Energy itself.

Greg Jackson, CEO and Founder of Octopus Energy, said: “This acquisition is another step in Octopus’s ambition to transform the energy market.”

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