Transmission Rethinking energy retail in the US with Nick Chaset (Octopus Energy US)
Oct 28, 2025
In this discussion with Nick Chaset, CEO of Octopus Energy US, listeners dive into the complexities of the fragmented American energy market. Nick shares how Octopus adapts its successful UK model for U.S. consumers, emphasizing technology's role in creating customer-centric, flexible energy solutions. He discusses the challenges of legacy systems, the potential of flexible tariffs, and the innovative Kraken platform that enhances customer service. The conversation highlights opportunities for decarbonization and the need for a faster, smarter approach to electrification.
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Patchwork US Market Hides Opportunity
- The US energy market is fragmented with varying retail choice, making a single consumer experience rare.
- Octopus sees opportunity to stitch this patchwork into simple, customer-centric products using tech and tariffs.
Two-Pronged US Strategy
- Octopus pursues direct-to-consumer retail in Texas and B2B2C utility partnerships in regulated states.
- They sell customer experience and flexibility software where utilities cannot directly offer Octopus-style services.
Build A Separate Consumer Brand
- Create a distinct consumer-facing brand rather than forcing legacy utilities to change their DNA.
- Let your app become the go-to consumer tool for daily energy tasks and savings.