Nick Chaset with Octopus Energy

Octopus Energy is shaking up the utility industry—one smart tentacle at a time.

Nick Chaset, CEO of Octopus Energy U.S., joins us on this week’s Energy Show episode. Octopus Energy is redefining how customers interact with electricity. From solar and batteries to smart controls and EV chargers, Octopus isn’t just selling power—it’s empowering people to take control of it. Think of them as the energy disruptor with eight arms in all the right places.

While investor-owned utilities like PG&E rake in record profits and raise rates, homeowners are fighting back by installing their own mini power plants. In deregulated markets like Texas, customers have the freedom to choose their energy provider—and companies like Octopus are leading the charge with innovation, lower prices, and customer-focused services.

Octopus Energy takes what’s working in places like the UK and applies it to U.S. markets with a laser focus on technology, transparency, and customer savings. Whether it's offering dynamic pricing, bundling rooftop solar with smart home tools, or integrating batteries into flexible grid systems, they’re not just building an energy company—they're building a smarter, more agile energy future.

To learn more about how Octopus Energy is changing the way consumers buy energy, listen now to this week's Energy Show.

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Transcript Below:

Summary: “Nick Chaset with Octopus Energy” – The Energy Show with Barry Cinnamon

In this episode of The Energy Show, Barry Cinnamon is joined by Nick Chaset, CEO of Octopus Energy US, for a deep dive into how this tech-forward energy company is disrupting the traditional utility model and reshaping consumer expectations across the globe.

Key Takeaways:

🔌 The Utility Industry is Changing Fast

Electricity prices are soaring—especially in California, where investor-owned utilities like PG&E are seeing record profits. In contrast, deregulated markets like Texas offer consumers more choice and foster competition, innovation, and lower rates. That’s where Octopus Energy steps in.

🦑 Meet Octopus Energy

Headquartered in the UK, Octopus Energy is the largest electricity provider to residential customers there—serving 8 million households on 100% renewable energy. But Octopus is more than just an electricity supplier; it’s a tech company with a consumer mindset. Their proprietary software platform, Kraken, is licensed to utilities across Europe and Asia to modernize operations, integrate renewables, and improve customer experiences.

📲 Tech-Driven + Consumer-Focused = The Future of Energy

Kraken enables seamless coordination between EV chargers, solar panels, heat pumps, and battery systems—making it easier for utilities and consumers to manage clean energy systems without friction. In California, where choice is limited due to regulation, Octopus focuses on helping utilities and community choice aggregators think and act like retailers, bringing customer-centric strategies to a monopoly-dominated market.

🏡 Solar + Storage + Smart Optimization

In Texas, Octopus offers bundled retail electricity plans with solar and battery storage—partnering with companies like Enphase and SolarEdge. Customers retain control, but Octopus uses its virtual power plant to optimize battery usage during high-cost peak times without sacrificing user value—a win for both the grid and the homeowner.

💡 Virtual Power Plants That Actually Work for You

Unlike traditional VPPs, which often feel like a raw deal for homeowners, Octopus takes a customer-first approach. They ensure systems still deliver bill savings and energy resilience, while intelligently shifting usage (e.g., delaying battery discharge from 4 p.m. to 6 p.m.) to better support the grid without impacting the consumer’s experience.

🌬️ What About Heat Pumps?

While Octopus is the largest installer of heat pumps in the UK, they’re not yet offering installations in the US. However, they’re actively exploring ways to integrate smart controls for HVAC systems, especially in high-AC-use markets like Texas.

💸 Financing & Affordability

In the UK, lower costs allow for mostly cash purchases. In the US, Octopus is exploring partnerships with solar financing companies to bundle customer-friendly electricity rates with third-party financed solar and battery systems.

⚖️ Policy, Tariffs & the Transition

Chaset emphasizes that clean energy isn’t a niche—it is the future of energy. Despite uncertainty with tariffs and tax credits, the economics of renewables, storage, and EVs continue to outcompete fossil fuel alternatives. He calls for more efficiency in the US market, citing much lower solar installation costs in the UK and Australia.

💚 Mission-Driven Leadership

Chaset shares his journey—from a college trip to see a solar farm in Germany to leading clean energy efforts in California—to now helping Octopus Energy revolutionize the way Americans experience and engage with energy. His mission: make energy affordable, green, and delightful for consumers while creating good jobs and a better future.

🔗 Get Connected

Visit OctopusEnergy.com to learn more or follow Nick Chaset on LinkedIn for updates on their US expansion and innovations in customer-centric clean energy.

🎧 Listen now at www.energyshow.bizThis one’s for anyone curious about the real path forward for clean energy in the US—and what it takes to finally bring utilities into the 21st century.