Rethinking energy retail in the US with Nick Chaset (Octopus Energy US)

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Oct 28, 2025

Nick Chaset, CEO of Octopus Energy US, discusses the intricacies of the US energy market and how Octopus is adapting its UK model for American consumers. He highlights the challenges posed by legacy systems that inhibit innovation. Chaset shares insights on harnessing technology for customer-centric energy solutions, the importance of flexible tariffs, and how digital platforms can enhance energy efficiency. He also emphasizes the need for accelerated electrification to achieve decarbonization and calls for faster infrastructure development.

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ANECDOTE

How Constantine Became The Mascot

Early Octopus employees named the octopus 'Constantine' on a whim and it stuck as a brand mascot.
Constantine now appears widely across Octopus events and merchandise.

INSIGHT

Adapting To Fragmented US Markets

Most US states lack retail choice, so Octopus pursues direct retail in Texas and alternative models elsewhere.
They adapt strategies to regulated markets by partnering with utilities to deliver customer-centric experiences.

ADVICE

Partner Utilities Instead Of Forcing Entry

Partner with regulated utilities to deploy your consumer app rather than forcing retail entry where choice is limited.
Use that app to onboard devices and manage flexibility on behalf of the utility.

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The US energy market is complex, fragmented, heavily regulated, and dominated by legacy systems that make innovation difficult. Yet in that complexity lies opportunity.

As the energy transition accelerates, retailers are rethinking what it means to serve customers and how technology can deliver cleaner, smarter, and more affordable power at scale.

In this episode of Transmission, Quentin is joined by Nick Chaset, CEO of Octopus Energy US, about how the company is bringing its UK model stateside and what it takes to adapt it to the realities of the American market.

We explore how Octopus is using technology to create customer-centric energy products, how flexibility can unlock system-wide efficiency, and why retail innovation might be the key to accelerating decarbonisation.

• Why legacy retail models are holding back customer innovation in energy

•The barriers and opportunities of transforming complex electricity markets

• How flexible tariffs and technology can empower consumers to shape demand

•The role of digital platforms in building smarter, more dynamic energy systems

• What the US can learn from global examples of customer-led decarbonisation

About our guest

Nick Chaset is CEO of Octopus Energy US, leading the company’s expansion across North America. He focuses on scaling Octopus’s customer-centric energy model, leveraging the Kraken platform to deliver affordable, flexible, and sustainable power to millions of American consumers. For more information on Octopus Energy US - head to their website. https://octopusenergy.com/

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our interviews are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, conversations, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.