The agreement will be instrumental in Plenitude’s long-term growth in international retail energy markets and will enable Octopus Energy Group’s tech platform Kraken to widen its reach, taking the total number of its contracted energy accounts to 32 million. Kraken is used by Octopus Energy to manage millions of customers across the UK, USA, Australia, New Zealand, Japan and a large portion of mainland Europe.
Kraken is Octopus Energy’s proprietary technology, a globally scalable platform designed to drive the smart grid and greatly improve the efficiency and customer service of energy suppliers. The end-to-end platform is based on advanced data and machine learning capabilities and automates much of the energy supply chain, empowering customers to access power when it is cheaper and greener.
The tech platform has enabled Octopus Energy to become a global leader in smart tariffs, allowing the company to develop innovative products such as the world’s first half-hourly time-of-use tariff Agile Octopus, a bespoke tariff for vertical indoor farms, and its most recent invention – the ‘Fan Club’ – a tariff which gets cheaper as local wind blows stronger.
Plenitude will replace its current stack of legacy CRM, billing and industry integration solutions with a single platform, greatly simplifying processes and unlocking a more streamlined way of managing its retail energy business.
“Growth in international markets is key to achieving Plenitude’s target of 15 million retail customers by 2030” said Mauro Fanfoni, Head of International Retail Markets of Plenitude, commenting on the partnership. “The partnership with Kraken substantiates Plenitude’s strategy to develop a lean, scalable international retail energy business, supporting the growth of our retail customer base in international markets and fostering integration with our renewables and e-mobility businesses”.
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