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Octopus Energy surpasses British Gas as UK’s largest electricity supplier

Since the first quarter of 2023, Octopus has acquired over 1.9 million net customers, achieving a 22% market share and servicing 6.8 million households

After eight years of operation, Octopus has become the UK’s largest electricity supplier.

Octopus Energy emerged as the sole large energy supplier to bolster its market share in the past year, as indicated by new data from Ofgem.

Since Q1 2023, Octopus has experienced growth, acquiring over 1.9 million net customers, resulting in a substantial 22% market share and servicing 6.8 million households.

In 2023, Octopus led the market in customer switching, with over 800,000 customers opting to switch to Octopus from other suppliers, with an additional 1.3 million households transitioning from Shell Energy Retail following Octopus’ acquisition of the business.

Octopus’ global expansion has reached 18 countries, servicing almost eight million households worldwide.

Greg Jackson, Founder of Octopus Energy Group, commented: “We’ve invested relentlessly in outstanding people and technology to deliver better customer service and lower costs – and today’s news shows that this works.

“I hope that we can inspire both entrepreneurs and existing companies that by investing for the long term and truly focusing on customers, they can deliver success for themselves and for those they serve.”

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