Octopus Energy reposted this
Founder and CEO, Octopus Energy. *Due to volume of spam LinkedIn is not a good place to reach me*
No company is perfect - but 87% satisfaction for Octopus (according the latest official survey by regulator, Ofgem) is no accident. The energy transition needs to be done *for* and *with* customers, not *to* them. We desperately need to bring bills down through renewables, EVs, batteries, interconnectors - otherwise we are not only failing customers, but risk the backlash which will kill it. Too many incumbents and parts of the energy industry are too remote from customers - they've been seen by many as "offtakers" rather than the entire reason an industry exists. By contrast, we chose to invest hundreds of millions in building technology (Kraken) and an organisational structure which are fundamentally different than others. Many observers misunderstood - the question always was "will this scale?" - but in reality, tech & culture allowed us to improve with scale. It makes sense - when you're small, "edge cases" are not significant enough to automate solutions for, and you don't have enough learning opportunities to identify, test and deploys solutions. Of course, innovation creates an every harder set of problems to solve. Each time we create new products, services and tariffs there's more to go wrong - vastly more - and it's often reliant on old fashioned networks, systems and markets - or regulation which (understandably) cannot keep up with the pace of change offered by tech. The vast majority of the issues which frustrate customers are caused by these - but overall we believe it's better to keep on inventing and innovating, and fixing the issues this creates. And customers and team are brilliant in understanding this. And it's really important to understand the role of outstanding investors - choosing to allow us to create long term value, not short term profit maximising - so we've been able to relentlessly focus on delivering excellent service to customers whilst innovating like mad to help bring down energy costs through technology. The energy transition has been described as being in its awkward teenage years (struggling in the process of moving from the old static world to the new dynamic one) - but it's vital we keep putting customers first. (Thanks to those investors I mentioned - Octopus Investments, CPP Investments | Investissements RPC, Galvanize Climate Solutions, Generation Investment Management, Origin Energy, Tokyo Gas Asia Pte. Ltd., Lightrock)
Consumer satisfaction with UK energy suppliers increased between January and February 2024 compared to the previous survey period from August to September 2023. Octopus Energy led in customer satisfaction, with 87% of their customers, reporting overall satisfaction, above the average for this period. Ofgem Citizens Advice Greg Jackson #energysupplier #energyretail #energycustomers #energybills #energysupply #energynews #customerservice https://lnkd.in/eksf2jZp