In October 2022, Ofgem reviewed the proposed sale deal to assess whether Octopus had suitable financial and operational capabilities to ensure consumers’ interests were protected. As part of its review, Ofgem concluded that there was a risk that Octopus’s systems and processes were not robust enough to handle the scale of new customers. It also identified risks around Octopus’s low levels of investor support and rapid growth which had meant that it had a weaker financial position compared wit...

In October 2022, Ofgem reviewed the proposed sale deal to assess whether Octopus had suitable financial and operational capabilities to ensure consumers’ interests were protected. As part of its review, Ofgem concluded that there was a risk that Octopus’s systems and processes were not robust enough to handle the scale of new customers. It also identified risks around Octopus’s low levels of investor support and rapid growth which had meant that it had a weaker financial position compared with other large suppliers. It concluded that while Octopus could manage the operational risks identified, the financial risks were more difficult to assess Type: conclusion | Number: 9 | Response status: accepted Government response: 2.1 The government agrees with the Committee's recommendation. Recommendation implemented 2.2 As set out in the Energy Security Plan 2023, the government will deliver an energy retail market that works better for consumers, is more resilient and investable, and support