The second biggest household energy supplier in Britain has struck a deal to transfer its 6.5 million customers to the low-cost IT platform created by an upstart supplier. Eon said that it would “reinvent itself” through the partnership with Kraken Technologies, the technology division of Octopus Energy. The deal would allow it to “achieve the great service standards enabled by this advanced technology”, it said. It will begin transferring the two million-plus customers it acquired recently from Npower from the next quarter. Eon’s own customers will follow next year. The deal is believed to be worth hundreds of millions of pounds. Octopus Energy, which was founded in 2015, has grown to have 1.5 million customers, but it retains high customer service rankings. Greg Jackson, 48, Octopus’s chief executive, has described Kraken as a “big fricking robot” that can largely automate the process of energy retailing and helps the company to undercut its larger rivals’ operating costs by between £50 and £150 per year, per household. The government’s price cap has forced energy suppliers to cut tariffs.
Times 24th March 2020 read more »