Last year Octopus Energy – a UK-based energy tech company – became a double unicorn when Origin Energy and Tokyo Gas invested to drive the brand’s renewable energy revolution.
The brand, known for prioritising customer service – it does not usually send monthly energy bills, instead relying on consumers to submit their own meter readings – has made further inroads in its attempts to take on the ‘Big Six’ UK energy suppliers during the coronavirus pandemic, becoming the only energy supplier to be recommended by consumer champion Which? for a fourth year running.
YouGov BrandIndex data supports the argument that 2020 was a good year for the brand. Recommend scores for Octopus Energy (whether someone would recommend the brand to friend or colleague) went through a period of significant growth over the past year: starting at 7.1 from 15 February 2020, the brand’s score grew 6.4 points to 13.5.
Octopus Energy’s Recommend scores also significantly outperformed the collective scores of the Big Six energy providers. On February 15 2021, the Big Six registered a Recommend score of -1.9, signifying a massive 15.5-point difference between Octopus Energy’s score on the same date in 2020.
BrandIndex data further demonstrates the impact that Octopus Energy’s customer-centric approach has had for the brand. Consideration scores (whether someone would consider purchasing from the brand in the future) increased from 11.2 to 20.3 over the year, with Satisfaction scores (whether a customer is satisfied with the brand) similarly increasing by 3.5 points by February 15 2021.