One million customers of failed supplier moved to Octopus in just three months

Bulb’s acquisition deal has the potential to yield a profit of £1.2 billion to the taxpayer

Octopus Energy migrated one million Bulb customers onto its systems in less than three months, setting an industry record.

The energy tech pioneer announced its acquisition of Bulb in December 2022, adding 1.5 million customers and making it the second-largest energy retailer in the UK.

The deal is believed to provide a potential £1.2 billion windfall for the government for the government, Octopus has said.

Octopus’ approach has enabled it to migrate customers in record time using its technology platform, Kraken.

Kraken is a software that connects all parts of the energy supply chain – it serves more than  30 million accounts globally and is operational in Europe, the US, Australia, New Zealand and Japan.

Founder of Octopus Energy Greg Jackson says: “We took on Bulb to provide the best service possible to customers who had been left in the lurch for almost a year.

“We’re so proud to have reached this milestone in record time – it’s yet another example of the speed of transformation that can be achieved by using technology in a smart way.

“Octopus is a tech company at heart, using technology to make energy easier and cheaper for customers – and we’re over the moon to be able to do this for Bulb customers now too.”

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