The Octopus takes Europe: expansion, growth in Spain and tariff highlights
Learn about Octopus Energy's rapid growth, international expansion, and its success in the Spanish energy market.
Octopus Energy, the British supplier founded in 2015, has quickly become one of the fastest‑growing energy companies in the world. In October 2025 it announced that it had surpassed 10 million customers across eight countries, doubling its retail customer base since 2023. Its proprietary Kraken technology and focus on customer experience have allowed it to compete with incumbents and expand into Europe, Asia and North America.
International expansion
Octopus now operates in the UK, Germany, Spain, France, Italy, Japan, the US and New Zealand. The company notes that almost all of these markets will reach one million customers before 2027. In Germany, its second‑largest market, it already serves over one million homes and has launched a joint venture, OQTO‑X, with renewables developer Energiequelle to install solar panels and batteries for businesses across Germany, Austria, Poland and the Czech Republic; the Sky fund will commit €200 million to the programme. In France, Octopus has become the fifth‑largest energy supplier and the largest independent alternative provider, with nearly 600 000 customers and the highest Trustpilot rating among French suppliers. In Italy its customer base has tripled to almost 500 000, winning awards from the consumer association Altroconsumo and the newspaper Corriere della Sera. Japan and the US are also rapidly growing markets.
Arrival in Spain and customer boom
The Spanish adventure began in August 2021 with the acquisition of the Valencia‑based start‑up Umeme, allowing Octopus to combine generation and retail outside the UK. The initial goal was to reach one million supply points by 2027. Just four years later, the company has surpassed 400 000 customers, after adding 170 000 new households in just one year, representing 75 % growth. The CNMC recognises Octopus as the fastest‑growing independent supplier in 2024, with notable gains in Andalusia, Catalonia, Madrid and the Valencia region.
Beyond customer growth, Octopus is investing heavily in generation: by late 2025 it announced the acquisition of two solar plants in Navarre and Albacete (100 MW) and a partnership with a storage developer to add 600 MW of capacity over five years, enough to power 2.3 million homes. It also bought the Catalan consultancy OneSolar to promote solar installations and EV chargers. The company plans to install more than 8 000 solar systems, chargers and heat pumps annually.
Customer satisfaction and reputation
Octopus prides itself on award‑winning customer service. Founder Greg Jackson points out that the company maintains a 4.8/5 rating on Trustpilot across almost all markets and that 90 % of reviews are five stars. In Spain, users rate it very highly: the comparison site Kelisto notes that Octopus is one of the suppliers with the best customer feedback, praising its “excellent customer service with expert, efficient and friendly agents”. The company has been recognized by the CNMC and by IMA Marketing as the “best energy supplier according to Spanish consumers”.
Stand‑out tariffs in the Spanish market
Octopus Energy has positioned itself as the cheapest electricity supplier for February 2026, according to Kelisto. Its Relax tariff (fixed price) costs €53.99 per month for an annual consumption of 2,540 kWh; it includes a very low power charge in off‑peak hours (€0.81/kW per month) and an energy price of €0.122 per kWh. Octopus also offers the Tres tariff, with three time‑of‑use periods, at €56.47 per month, making it the cheapest offer in its category. Kelisto explains that Octopus tops the ranking because it offers the cheapest fixed‑price tariff and the cheapest multi‑period tariff. The supplier frequently launches welcome promotions in the form of credit to help reduce bills.
Outlook and conclusions
Octopus Energy has evolved from a British disruptor to a global player with a presence in eight countries and more than 10 million customers. In Spain it has grown from zero to 400 000 customers in four years and aims to reach one million by 2027. Its success rests on competitive tariffs, significant investments in renewable energy and a reputation for excellent customer service. With new initiatives such as Sun Club, Saving Sessions and Lower Power, the company intends to continue innovating and bringing the energy transition closer to Spanish households. All signs point to this “energy octopus” continuing to stretch its tentacles across Europe, consolidating its position as a benchmark for green and affordable power.
Maximize Your Savings
Understanding the market is the first step. The second is making sure you are on the best rate. Compare electricity providers in Spain and switch in minutes.