Origin Energy buys UK retailer stake

01 May 2020 - 12:00 am UTC

Australia’s Origin Energy has bought a 20% stake in the UK retailer Octopus Energy and secured a perpetual licence for Octopus’ Kraken technology platform in Australia, Origin announced today.

Origin hopes that Kraken will provide retail customers with an improved experience, as well as generating significant cost savings.

“For our customers, they will have a vastly simpler experience, with the technology capable of integrating multiple services to a single bill, delivering agile tariffs and easy integration of smart meters, solar, storage and electric vehicles, accelerating demand-side management capability,” Origin CEO Frank Calabria in today’s statement.

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