Octopus Energy

1. Business / Trading Name: Octopus Energy NZ Limited (trading as Octopus Energy NZ). The company operates under the “Octopus Energy” brand in New Zealand’s electricity retail market.

2. Company Number: 8049617. (New Zealand Companies Office registration number.)

3. NZBN: 9429048437370. (New Zealand Business Number, a unique identifier for the company.)

4. Entity Type: NZ Limited Company. (Incorporated on 17 July 2020 in New Zealand.)

5. Business Classification: D264010 – Electricity energy sales operation. (This ANZSIC code denotes an electricity retailing business.)

6. Industry Category: Energy (Electricity Retail). The company is part of the electricity supply and retail industry, focusing on renewable electricity retail services.

7. Year Founded: 2020 in New Zealand (parent company founded 2015 in the UK). Octopus Energy NZ’s local incorporation in mid-2020 marked its entry planning stage, with public launch of retail operations in 2022.

8. Addresses: Registered Office & Service Address: Floor 6, 10 Brandon Street, Wellington Central, Wellington 6011, New Zealand. (Previous known location: an earlier company record listed 46 Ellice Street, Wellington. but the current official address is the Wellington CBD office.) The Wellington office serves as Octopus NZ’s headquarters, chosen for the city’s strong pool of energy and tech talent.

9. Website URL: octopusenergy.nz. (Official website for New Zealand operations.)

10. LinkedIn URL: linkedin.com/company/octopus-energy (Global LinkedIn page – Octopus Energy operates a unified presence; no separate NZ page is listed). The company uses its global social media channels for recruitment and updates.

11. Company Hub NZ URL: https://www.companyhub.nz/companyDetails.cfm?nzbn=9429048437370. (CompanyHub profile for Octopus Energy NZ Limited, providing public registry data including NZBN and status.)

12. NZ Companies Office URL: https://app.companiesoffice.govt.nz/co/8049617. (Direct link to the official Companies Office record, showing registration details and filings for Octopus Energy NZ Limited.)

13. Social Media URLs: Octopus Energy NZ maintains an active social media presence:

    • Facebook: facebook.com/OctopusEnergyNZ (customer updates and promotions).

    • Twitter (X): twitter.com/OctopusEnergyNZ (engaging users on energy-saving tips and company news).

    • Instagram: instagram.com/octopusenergynz (branding and educational posts).

(These region-specific accounts supplement the parent company’s global social media. Posts often highlight NZ-specific initiatives like “Zero Bills” homes and peak-time savings programs.)

14. Ultimate Holding Company: OE Holdco Limited (UK) – recorded as the ultimate holding company in NZ filings. This entity is part of the Octopus Energy Group Limited structure, which owns 100% of Octopus Energy NZ. Octopus Energy Group Ltd is the UK-based parent, backed by Octopus Capital (Octopus Group) and global investors.

15. Key Shareholders: Octopus Energy NZ is a wholly-owned subsidiary of Octopus Energy Group. The Octopus Energy Group Limited (via OE Holdco) holds 100% of the shares. (There are no minority shareholders in the NZ entity; the ownership is entirely held within the Octopus corporate group.) Notably, the parent company’s shareholders include major international energy companies – for example, Australia’s Origin Energy acquired ~20% of Octopus Energy Group in 2020 – but these investments are at the group level, not direct stakes in the NZ subsidiary.

16. Leadership: Greg Jackson (Founder & Group CEO) – serves as a director of the NZ company. Stuart Jackson (Group CFO) – also a director of Octopus NZ. Ari Sargent – New Zealand Managing Director (and Director on the board). Margaret Cooney – Chief Operating Officer (Octopus Energy NZ) and director. These four comprise the current board and top leadership. Jackson (CEO) and Jackson (CFO) bring global oversight from London, while Sargent and Cooney lead local operations. Ari Sargent is a veteran of NZ’s electricity sector (former Powershop NZ Managing Director) recruited to helm Octopus’s APAC expansion. Margaret Cooney previously led Meridian Energy’s Powershop and has a background in energy policy. Their leadership strategy emphasizes tech-driven innovation and customer-centric service, echoing the approach of the UK parent.

17. Staff: A relatively small but growing team. At launch, Octopus NZ had 7 employees in Wellington – all alumni of Powershop (a pioneer NZ electricity retailer). This included engineers and customer support specialists who worked on migrating Australian customers to Octopus’s platform while preparing the NZ retail launch. By mid-2022, the team expanded to support around 5,000 customers. and recruitment has continued in areas like software development and customer operations. Staff are based chiefly in Wellington, with the company highlighting the local “energy specialists” and tech talent driving its service. (Exact current headcount is not publicly disclosed, but the company’s LinkedIn activity and ongoing job postings suggest a few dozen staff as of 2024.)

18. Staff with Previous Government Roles: None publicly identified. No senior Octopus NZ staff or directors have held political office or prominent government regulatory positions in the past. (Cooney and Sargent came from industry roles in the private sector, and the UK directors have private-sector backgrounds.) However, Cooney does sit on the Electricity Authority’s Innovation and Participation Advisory Group (IPAG) as an industry expert. indicating engagement in public policy forums, albeit not a former government employment. If any junior staff have public-sector experience, it has not been highlighted. Overall, there is no known “revolving door” hire from government into Octopus NZ’s ranks at this time.

19. Past Employees: Umesh Parag – an initial director at incorporation (July 2020) – stepped down early and is no longer involved (he had provided local compliance setup assistance). The core team that launched Octopus NZ (largely ex-Powershop personnel) has generally been retained; there have been no high-profile departures publicly noted. Because Octopus NZ is relatively new, it has not seen a cycle of prominent employees leaving for other roles yet. (Most “past employee” information relates to their previous work at other companies rather than turnover at Octopus NZ itself.)

20. Clients: Octopus Energy NZ’s clients are retail electricity customers – primarily residential households and small businesses across New Zealand. Unlike a consultancy or lobbying firm, it does not represent external corporate clients; instead it sells electricity directly to end-users. As of late 2022, it served around 5,000 customer accounts. and it continues to acquire new customers through its no-contract, time-of-use power plans. Octopus does not have large industrial or government clients (its business model targets mass-market consumers). (In the context of influence, Octopus positions itself as a voice for electricity consumers – effectively aligning its lobbying with the interests of its customer base in seeking lower prices and better service.)

21. Industries/Sectors Represented: Octopus Energy NZ is part of the electricity and renewable energy sector. In advocacy contexts, it represents the independent electricity retail segment – positioning itself against the incumbent gentailers (generator-retailers) and in favor of consumer-centric, tech-enabled energy services. It does not officially act on behalf of any broader industry association (it is notably not a member of the Electricity Retailers’ Association of NZ, which is dominated by large legacy power companies). Instead, Octopus often speaks for the interests of new-entrant retailers and consumers seeking more competition and green innovation in the energy industry.

22. Publicly Disclosed Engagements: Octopus Energy NZ has been proactive in public submissions and media commentary on energy policy:

22. It made a formal submission to the Electricity Authority’s 2022 consultation on wholesale market risk management, arguing that current settings favor incumbents and calling for a level playing field.

23. It has issued multiple press releases on policy issues (via Scoop.co.nz and other outlets). For example, in October 2024 it publicly welcomed a proposed Government Policy Statement on electricity competition, with its NZ COO urging rapid regulatory changes to benefit consumers.

24. Select Committee or Parliamentary engagements: none known so far. (No public record of Octopus appearing in Parliamentary hearings yet, as their focus has been on influencing regulators and ministries directly.)

25. Media interviews: Leadership has frequently spoken on radio and TV about sector reforms – e.g. COO Margaret Cooney on RNZ and Newstalk ZB calling for innovation to lower bills.

26. Opinion pieces: Cooney authored an op-ed on power prices and competition (highlighting issues like the 34,000 households in the 2021 power cuts) in mainstream media.

27. Polling: In 2024 Octopus commissioned a public poll on electricity prices and competition, releasing results to media to bolster its case for reform.

28. Official meetings: Octopus’s CEO and NZ leaders have met with government officials (a Feb 2025 ministerial briefing notes a “Meeting with Octopus Energy” regarding energy policy). Details of such engagements are sparsely disclosed, coming to light only via official information releases.

29. All these engagements have been at Octopus’s own initiative, since NZ has no mandatory lobbyist register. Notably, Octopus often discloses its stance publicly (press releases and media) rather than operating entirely behind closed doors, which sets it apart from many industry players.

23. Affiliations: Octopus Energy NZ operates outside the main industry lobby group (it is not a member of ERANZ, the industry association representing most NZ power retailers). Instead, Octopus aligns itself with consumer advocacy and tech innovation circles. Key affiliations include:

23. Electricity Authority Advisory Group: Octopus NZ (through Margaret Cooney) is a member of the EA’s IPAG, providing industry input on innovation and participation issues. This affiliation gives it a seat at the table in regulatory discussions.

24. Global Octopus Energy Network: Within the Octopus Group, the NZ entity is affiliated with sister operations in 10+ countries, sharing the Kraken technology platform and best practices. Lessons and strategies flow from the UK, US, etc. (for instance, the NZ team works closely with Octopus Energy Australia under the Origin Energy partnership).

25. Partnerships: While not traditional “affiliations,” Octopus NZ partners with organizations like Classic Builders and Future Energy on sustainability initiatives (see Sponsorships/Collaborations below) and with Meridian Energy for certified renewable electricity supply agreements. It is also informally aligned with consumer interest groups advocating lower power prices (Octopus’s public messaging often echoes concerns raised by Consumer NZ and others, though no formal affiliation is declared).

26. Academic/Think-Tank links: The Octopus Group set up a global Future Energy Research Centre and think-tank (Centre for Net Zero in UK) – any NZ-specific collaboration is not public, but the ethos carries into NZ operations.

27. In summary, Octopus NZ’s affiliations are characterized by working with allies in renewable energy and consumer advocacy, rather than joining incumbent-dominated coalitions.

24. Sponsorships / Collaborations: Octopus Energy NZ has engaged in high-profile collaborations to showcase its innovative approach:

    • “Zero Bills” Home Partnership: In 2023–24 Octopus partnered with Classic Builders, one of NZ’s largest home builders, and solar firm Future Energy to create New Zealand’s first “zero power bills” home. Octopus provided a special tariff guaranteeing no electricity charges for 5 years, while Future Energy supplied solar panels, battery storage, and heat pump technology, and Classic Builders built the energy-efficient home. This pilot home in Auckland (launched September 2023) was used as a showcase for fully sustainable living, with Octopus NZ sponsoring the launch event and publicity. Cooney stated the vision that all new houses should come with solar and batteries built-in.

    • Community and EV Initiatives: Octopus has sponsored small community webinars on EV charging and energy savings. It partnered informally with EV charging installers (promoted via social media) to encourage uptake of electric vehicles by offering plan credits. It also supported WWF New Zealand with a donation-for-conservation campaign tied to customer energy savings (e.g. offering to donate $5 to WWF for certain energy-saving actions).

    • To date Octopus NZ’s sponsorship profile is modest (no major sports or arts sponsorships). Its collaborations are tightly aligned with its core business – promoting renewable energy adoption, smart homes, and consumer empowerment. These strategic partnerships bolster its public image as a forward-thinking challenger brand.

25. Events: Octopus Energy NZ has organized and participated in events mostly related to energy innovation:

    • Zero Bills Home Launch (August 2023): Octopus hosted an open home event for NZ’s first zero-bills house in Mt Roskill, Auckland. The event drew local media and even politicians – for instance, MP Chris Penk visited and praised the initiative. This event was co-organized with Classic Builders and Future Energy to demonstrate Octopus’s innovative tariff in action.

    • Energy Sector Conferences: Octopus NZ’s leaders have spoken at industry conferences such as the New Zealand Energy Forum 2023 (Margaret Cooney discussed market innovation and the need for regulatory change). Ari Sargent has appeared in Electricity Market workshops and podcasts (e.g. Energy Markets Podcast) to share Octopus’s growth story.

    • Community Workshops: The company’s staff have occasionally run online Q&A sessions for customers (virtual events advertised via Facebook) to explain smart tariffs and technologies. Octopus also joined a Wellington tech meetup in 2022 when setting up its tech hub, introducing itself to the local IT community.

    • Promotional Events: Stalls at EV shows or sustainable living expos – Octopus’s pink branding was spotted at at least one EV show in late 2022, where they sponsored an EV charging demo (small scale event).

    • Note: Octopus NZ has not held any political fundraising events. Its events focus on consumer engagement and thought leadership in energy. However, by showcasing solutions like the zero-bills home, these events double as lobbying by example – subtly influencing policymakers by proving new models can work.

26. Political Donations: No disclosed political donations in NZ. A search of public donations registers shows no record of Octopus Energy NZ or its key figures donating to New Zealand political parties or candidates (as of the 2020–2023 election cycles). The company is a newcomer and has not engaged in funding politics directly. Its influence efforts have instead been channeled through policy advocacy and media campaigns, rather than campaign contributions. (By contrast, some incumbent gentailer companies and executives have a history of donations, but Octopus has so far avoided this route.) Any lobbying expenditure by Octopus is not publicly reported as political donations, consistent with it preferring issue advocacy over direct political patronage.

27. Controversies: Octopus Energy NZ has attracted attention for its aggressive stance, though the controversies are more industry disputes than public scandals:

    • Clashes with Incumbents: Octopus has openly criticized the “Big 4” power companies (Meridian, Contact, Genesis, Mercury) for alleged anti-competitive behavior. This combative approach is unusual in typically collegial NZ energy circles. In response, incumbent executives have hinted at their displeasure – e.g. Genesis Energy’s CEO publicly warned that gentailers might not invest in new generation if market settings are changed (implying newcomers like Octopus want incumbents to bear costs while they cherry-pick customers). Such remarks, while diplomatically phrased, underscore friction and hint at incumbent view of independents as free-riders. Some industry veterans privately dub Octopus and similar retailers “parasites” for not owning generation – an epithet previously thrown at other independents in NZ. Octopus’s push for structural separation (forcing gentailers to split generation and retail) is especially contentious. essentially calling the business model of its rivals into question.

    • Polling Tactics: The company’s commissioning of a political poll raised eyebrows in policy circles. Critics note that asking the public about breaking up gentailers and then publicizing the 68% agreement with “power companies make unreasonable profits” could be seen as orchestrating public pressure. While consumer advocates welcomed the spotlight on high bills, industry players viewed it as a PR ambush. The move blurred lines between genuine public sentiment and a corporate-funded influence campaign, stirring debate about the appropriateness of such tactics by a market participant.

    • UK Parent Controversy: Though not NZ-specific, Octopus’s UK operations have had moments of controversy that cast shadows. Most notably, Octopus Energy’s government-backed takeover of failed UK supplier Bulb in 2022 prompted rival companies to sue the British government, alleging the deal gave Octopus undue advantage. (The High Court ultimately rejected that challenge, but it shows Octopus is no stranger to legal friction with competitors.) In NZ, gentailers have not resorted to legal action, but this history signals Octopus’s aggressive growth tactics can be polarizing. Additionally, UK regulators scrutinized customer service practices during the energy crisis; Octopus was largely praised, but any slip could have global reputational impact.

    • Lack of Transparency: A subtler point of controversy is Octopus’s own transparency. The company champions openness in market data and pricing, yet it does not disclose its meetings with ministers except when forced by OIA releases. Some observers find this ironic – a company lobbying for transparency in others but relying on the opaque lobbying environment in NZ to push its agenda quietly.

    • No Major Scandals: Importantly, Octopus NZ has no scandals involving consumer harm or illegal activity. There have been isolated customer complaints (e.g. on Reddit or Facebook) about billing issues or smart meter glitches, but these are low-level and comparable to other power companies. No regulatory enforcement actions have been taken against Octopus NZ to date. Thus, the “controversies” revolve around its challenger tactics and industry pushback, rather than malfeasance.

28. Other Information of Note:

    • Technology Platform (Kraken): Octopus NZ runs on the proprietary “Kraken” energy platform developed by its UK parent. This system provides advanced billing, demand response, and customer management. In fact, the Wellington office doubles as a tech development hub – Octopus NZ staff helped migrate Origin Energy’s 4 million Australian customers onto Kraken in 2020–21. This cross-border tech capability is notable: a NZ energy startup contributing to a major Australian IT project. It reflects Octopus’s strategy of leveraging New Zealand not just for selling power, but as a talent base for its global technology expansion.

    • Global Scale vs Local Scale: Although Octopus NZ is small locally, it benefits from the vast scale of its parent. Globally, Octopus Energy serves over 3 million customers and is now the UK’s second-largest energy retailer post-Bulb acquisition. This gives it financial resilience and expertise beyond a typical NZ newcomer. For instance, former UK Prime Minister Boris Johnson visited Octopus’s London HQ in 2020 as an endorsement of its green innovation – a level of political clout that trickles down to strategy in NZ. The local arm can punch above its weight by citing the group’s success (it often references being “one of the largest retailers in the UK” and “world-leading tech” in its NZ marketing).

    • Financial Position: Octopus NZ’s financials are not publicly reported separately. However, the parent company’s backing means Octopus NZ operated at a loss initially (common for a growth strategy) without facing insolvency risk. The parent raised significant capital (e.g. $200m from Tokyo Gas for ~10% stake in 2020. $300m from Canada’s CPP Investments in 2021, etc.), and became a “unicorn” valued over $5 billion by 2021. This war chest has funded global expansion – including NZ. Moreover, Origin Energy’s support included a working capital guarantee for Octopus’s international operations. effectively underwriting NZ’s launch costs. Thus, Octopus NZ enjoys unusually deep pockets for a newcomer, alleviating typical financial constraints that might limit its lobbying and marketing efforts.

    • COVID-19 Support: Octopus Energy NZ did not claim Wage Subsidy Scheme support during the 2020–21 COVID lockdowns (it was in startup phase with presumably stable funding). A search of the Ministry of Social Development’s subsidy database shows no entry for Octopus Energy NZ. This contrasts with many NZ companies that took subsidies; Octopus’s abstention is perhaps due to its well-capitalized parent, which could sustain the NZ payroll without taxpayer aid. (Field 29 below formally addresses this point.)

    • Market Entry Method: Octopus NZ’s entry was entirely greenfield (organic) rather than via acquiring an existing retailer. It considered acquisitions – Sargent indicated openness to buying a local player if opportunities arose – but ultimately launched from scratch. This choice meant building a customer base one at a time, which has been steady but slow. By avoiding acquisition, Octopus also avoided inheriting any legacy issues (debts, bad habits) but had to fight for every customer in a crowded market.

    • Relationship with Regulators: Octopus NZ has cultivated a direct relationship with regulators. Aside from participating in the IPAG advisory group, it engages frequently with the Electricity Authority (EA) staff via consultations and likely behind-scenes dialogue. It also interacts with the Commerce Commission (for market competition issues) and MBIE (energy policy). The tone of its public comments is respectful but pointed; it often praises the EA when it takes steps Octopus likes, and implicitly critiques when it doesn’t. This mix of pressure and praise is a deliberate strategy to influence regulator agendas without alienating them.

    • Public Reception: So far, Octopus Energy NZ has a positive public reputation – known for innovative pricing (e.g. half-price overnight power) and good customer service (leveraging the UK model). This consumer goodwill can bolster its political influence by presenting Octopus as the good guy representing frustrated customers.

    • In summary, Octopus Energy NZ’s story is not just another business entrant – it’s a case study in how a well-funded international disruptor can enter a small market and quickly start shaping the narrative around industry reform.

29. Recipient of Wage Subsidy Scheme: No. Octopus Energy NZ is not listed as a recipient of the New Zealand COVID-19 Wage Subsidy Scheme in 2020 or 2021. The Ministry of Social Development’s public register of wage subsidy recipients does not include Octopus Energy NZ Limited (which would be required if it had received funds). This suggests the company did not apply for or receive pandemic wage support. Likely, the NZ venture was still in setup phase during the major 2020 lockdown (with backing from its parent, it did not meet any revenue-decline criteria for subsidy). By the time it began hiring more staff in 2021–2022, wage subsidies were no longer available. Therefore, Octopus NZ can be noted as not taxpayer-subsidized during COVID, relying instead on private funding from its parent. (This differentiates it from some competitors that did take subsidies and later drew criticism in the media for doing so.)

Sources:

[1] OCTOPUS ENERGY NZ LIMITED – Company Summary, NZ Companies Office, https://app.companiesoffice.govt.nz/co/8049617

[2] UK’s Octopus Energy Launches in NZ, Lighting The Way For A Sustainable Future, Scoop News, https://www.scoop.co.nz/stories/BU2206/S00148.htm

[3] Network profile for OCTOPUS ENERGY NZ LIMITED, Oversight Solutions (NZBN data), https://oversightsolutions.co.nz/profile/OCTOPUS-ENERGY-NZ-LIMITED

[4] Reconciliation Participant Audit Report: Octopus Energy NZ Ltd (OCTO), Electricity Authority (audit by Deloitte), https://www.ea.govt.nz/documents/1033/Octopus_Energy_NZ_Ltd__-_20_Jan_2022_Audit_report.pdf

[5] UK electricity upstart hires former Powershop boss for New Zealand launch, NZ Herald, https://www.nzherald.co.nz/business/3DCHZ2OQKXNRJHSDGJNJBI3ZUQ/ (premium)

[6] Talent hooks Octopus Energy, WellingtonNZ (Wellington Regional Development Agency), https://www.wellingtonnz.com/business/hear-from-local-business-superstars/talent-hooks-octopus-energy

[7] Octopus Around the World: New Zealand, Octopus Energy Blog, https://octopus.energy/blog/octopus-around-the-world-new-zealand-wellington/

[8] Octopus says a broken power market is stifling innovation, BusinessDesk, 21 Mar 2023, https://businessdesk.co.nz/article/energy/octopus-says-a-broken-power-market-is-stifling-innovation (by I. Llewellyn)

[9] Octopus Energy submission on Risk Management Review (Cover Letter excerpt), Electricity Authority, https://www.ea.govt.nz/documents/6361/Octopus.pdf

[10] Government Policy Statement For Affordable Electricity A Step In The Right Direction, Scoop News (Press Release: Octopus Energy NZ), 11 Oct 2024, https://www.scoop.co.nz/stories/BU2410/S00219.htm

[11] Public majority slams Govt for lack of action on electricity prices in new poll, NZ Herald, 17 Oct 2024, https://www.nzherald.co.nz/nz/politics/BZEQ3RIC7VEDDOAQJOI6KGE3NQ/

[12] Energy Competition Task Force proposals good news for consumers, but nothing new, Scoop News (Press Release: Octopus Energy Group), 13 Feb 2025, https://www.scoop.co.nz/stories/BU2502/S00100.htm

[13] List of Ministerial Documents – Energy Portfolio (Feb 2025), MBIE (Open Govt info), https://www.mbie.govt.nz/about/open-government-and-official-information/release-of-information/lists-of-ministerial-documents-by-portfolio/energy (see “Meeting with Octopus Energy 25 February”)

[14] Innovation and Participation Advisory Group – Members, Electricity Authority, https://www.ea.govt.nz/about-us/our-people/our-advisory-and-technical-groups/ipag/ (Margaret Cooney bio)

[15] Zero Bills by Octopus Energy: A Groundbreaking Approach to Sustainable Living, Future Energy (Press release), 7 Apr 2025, https://www.future-energy.co.nz/news-updates/zero-bills-by-octopus-energy/

[16] Level Playing Field Principles a Step in the Right Direction… But Clear Rules Needed, Scoop News (Press Release: Octopus Energy Group), 27 Feb 2025, https://www.scoop.co.nz/stories/BU2502/S00329.htm

[17] Some Kiwis could be paid to save power on cold nights, 1News (TVNZ), 4 June 2024, https://www.1news.co.nz/2024/06/04/some-kiwis-could-be-paid-to-save-power-on-cold-nights/

[18] Octopus Energy to repay £3bn of state support used to take over Bulb, The Guardian (Business), 21 Jun 2024, https://www.theguardian.com/business/2024/jun/21/octopus-energy-repay-state-support-bulb-takeover

[19] Octopus Energy accelerates global expansion with major strategic partnership with Origin Energy, Octopus Energy (press release), 30 Apr 2020, https://octopus.energy/press/octopus-energy-origin-investment-2020/

[20] UK’s Octopus Energy valued at $2bn after Japan supply deal, The Guardian, 23 Dec 2020, https://www.theguardian.com/business/2020/dec/23/uk-octopus-energy-japan-tokyo-gas (Tokyo Gas stake news)

Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz