Octopus Energy Overtakes British Gas as the Largest UK Supplier

Octopus Energy is now worth more than £7bn after two of its largest investors increased their stakes in the company. Generation Investment Management and Canada Pension Plan Investment Board have upped their holdings in the London-headquartered business in moves which have pushed its value up 15 percent to £7.2bn.

Tom Hodges, co-head of private equity at Generation Investment Management, added “The company has accelerated ahead of its UK peers in energy and in Kraken has developed the first credible digitisation platform for utilities.” Octopus recently became the largest domestic electricity supplier in the UK by customer numbers after the company added 1.3m customers via its takeover of Shell Energy last year.

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