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Flashcards in Octopus Energy Deck (18)
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1
Q

Who is the founder

A

Greg Jackson

2
Q

When was it founded

A

2015

3
Q

Award

A

The Renewable Energy Association 2019 award for company that has done the most to advance UK renewables

4
Q

How is their energy green

A

For every electron taken from the grid they invest another into the generation of a ‘green’ electron to take its place

5
Q

What is the parent group

A

Octopus group

6
Q

What does the parent group do

A

Octopus Group invest in solar energy through Octopus Renewables, which are the largest investor in solar energy in Europe

7
Q

What pricing systems do they use

A

Agile pricing so take market price and times by 2.2 and add fixed charge

8
Q

What trials have they been doing

A

Negative pricing system - pay customers for the energy they consume in a window on Sunday

9
Q

What has happened to energy demand

A

Over Covid the demand for energy has fallen by 13%, along with good weather (so there is a power surplus)

10
Q

Powervault

A

Powervault 3 barrettes to store free solar energy of cheap energy from the grid, placed in home. This is demand-side response technology

11
Q

Benefits of octopus energy

A
  • Affordable due to agile and negative pricing
  • Easy to switch
  • Customer satisfaction
  • Solar farms
  • Invest in low CO2 alternatives
  • Transparent
12
Q

Future

A

Future Energy Research Centre researches ideas and data on consuming energy and what a 100% renewable system looks like

13
Q

Problems w/OE

A
  • Issues with smart meters arriving or working (large infrastructure)
  • Customer service - told just to look at the website sometimes
14
Q

What is good customer service

A
  • Empathising
  • Personalised response
  • Understanding of services provided
  • Problem solving
15
Q

What can learn from competitors

A
  • Ecotricity provides green and vegan energy, OE has reduced animal products but still uses slurry
  • Customer loyalty and trust of big 6 as their customers rarely change, have referral scheme but no early exit fees
16
Q

What is the customer satisfaction of OE

A

92%

17
Q

What is the customer satisfaction of npower

A

63%

18
Q

How much does OE save customers

A

£222 on average compared to the big 6