Octopus Energy has completed the purchase of Affect Energy adding 22,000 people to its existing 350,000 customer base in the UK.
The price has not been disclosed but was described as a seven-figure sum by Octopus.
Affect Energy’s customers will migrate to Octopus Energy systems and 100% renewable electricity.
Octopus will retain Affect Energy’s operations team.
Octopus Energy chief executive and founder Greg Jackson said: “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.”
Affect Energy chief executive and founder John Szymik 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.”
Image: Pexels
Octopus spreads UK tentacles
By EBS