Octopus Energy has acquired New Zealand smart technology software Configurable which it says will “super-charge” billing platform Kraken’s market supply capabilities.
The disruptor brand hopes the acquisition of Wellington-based Marvel Lab’s software will allow Octopus and Kraken’s licensees, which includes Eon and Good Energy in the UK, to create more complex “tailor-made dynamic tariffs” which support green energy, drive the smart grid and lower bills for customers.
Octopus’ chief technology officer, James Eddison, said: “The times of generic fixed and standard tariffs are over, we’re entering a new era of smart tariffs.
“The way we generate and consume energy is changing dramatically, leading us into a greener energy future. And energy suppliers need to evolve as well to make sure that their products meet their customers’ needs and drive this change for a better world.”
Speaking to Utility Week following the acquisition Eddison said the new software would allow more capabilities for the company to operate in the industrial and commercial (I&C) sector.
He said: “With I&C you tend to get far more bespoke tariffs and handling of components in particular ways to suit that customer. What Configurable’s approach will add is the management of that at scale.”
Eddison further explained that although Octopus does not have a zero presence in the I&C space, being the supplier of Premier League football club Arsenal FC, it is not a market it has much exposure to at present.
He continued: “The I&C space is not one we have actively targeted – that’s making a distinction between I&C and SME. In the SME space we do have Octopus Business doing interesting things and this is going to be enabling more interesting things there and more capabilities for I&C should we choose to go there.”
Meanwhile Ari Sargent, chief executive of Marvel Labs, said: “The future of retail energy across the globe looks bright as Configurable becomes part of Octopus Energy Group.
“We are excited to be joining forces with an organisation that has a global reach and who shares our ambitions to play a major role in accelerating the decarbonisation of electricity systems and the transition to a net zero world through use of smart technology.”