Octopus acquires 22,000 customers from Affect Energy

Mid-tier green energy supplier Octopus Energy has acquired West Sussex-based Affect Energy for an undisclosed seven-figure sum.

The deal will see Octopus take on 22,000 customers from Affect Energy, after it completed the purchase on 31 August.

It marks the third “significant deal” for the company in as many months.

Octopus recently took over the 95,000 customers of the now-insolvent Iresa.

The 100 per cent renewable energy company has also formed a strategic partnership with M&S Energy, following the departure of SSE.

Affect Energy was formed in 2016 and maintains a 9.5 out of 10 rating on TrustPilot. Octopus says it will retain Affect Energy’s operations team.

Affect has 20 staff, 17 of whom will transfer to Octopus while three senior managers have agreed consultancy opportunities.

Speaking to Utility Week, Greg Jackson, CEO and founder of Octopus Energy, said: “I think from our point of view Octopus has built a technology platform capable of outstanding customer service very efficiently.

“We are keen on expanding that capability as much as possible. It’s the third deal in six weeks, they are coming in thick and fast.”

Jackson added: “Following the announcement of our partnership with M&S and taking on Iresa’s 95,000 customers, this acquisition is another step in Octopus’s ambition to transform the energy market.

“Affect’s team deliver outstanding service to customers, and it’s a pleasure to acquire such a special business as we continue to grow and learn.”

John Szymik, managing director and founder of Affect Energy, said: “I am proud that we have built a business so beloved by customers.

“Octopus stood out among all energy retailers as the best company to take this to the next level, and I’m delighted at the opportunity this creates for our team and our customers.”