34,000 Octopus Energy customers set to get £43 compensation after 'failures' https://t.co/BvcYVycQmq
Campaigners to get refund after energy bill row https://t.co/LDT17TdXZJ
ctopus Energy is to pay £1.5 million in refunds and compensation after it failed to provide customers with final bills within six weeks, Ofgem has said. https://t.co/WB4gJU2JIg https://t.co/WB4gJU2JIg
Octopus Energy, the United Kingdom's largest electricity supplier, is planning a demerger of its technology division, Kraken Technologies, which is potentially valued at around £10 billion (approximately $14 billion). The company is reportedly close to hiring bankers to facilitate the separation of Kraken, which licenses an operating system. There is also consideration of selling up to a 20% stake in Kraken to external investors. Meanwhile, Octopus Energy faces regulatory scrutiny after the UK energy regulator Ofgem announced that the company will pay £1.5 million in refunds and compensation for failing to provide final bills to customers within six weeks. Approximately 34,000 customers are set to receive £43 each in compensation following these billing failures. Additionally, Greg Jackson, CEO of Octopus Energy, criticized opponents of zonal pricing in the UK energy market, accusing them of protecting profits at the expense of consumers. A government decision on whether to split the power market is expected imminently.