Blog Post

Bulb and Octopus both venture across the pond to expand in the USA

Richard Simmonds • Sep 29, 2020

Challenger energy supply companies, Bulb energy and Octopus energy have never hidden their ambitions to strike out across the Atlantic and  both companies have expanded their influence in the United States of America.

Bulb launches in Texas

Bulb energy has taken its first full steps into the US energy market by launching in the state of Texas.

The company said that it is seeking to make energy ‘simpler for Texans’ and wants to help consumers navigate what is one of the most complicated and complex energy markets in the world. It hopes that its push for simpler energy will result in as many as 1 in 5 Texans switching to them for their energy supply needs.

“Texas has always been an energy leader. Now it’s becoming the model for renewable energy, as the country’s top producer of wind energy and a growing solar hub. However, Texan households have not been guaranteed affordable green energy and great service. That’s why we’re looking forward to learning from and supporting people here while providing them with 100% renewable energy at better prices,” said Bulb CEO and co-founder, Hayden Wood.

Since its launch, Bulb has attracted over 5,000 Texans and with incentives such as offering consumers who work in essential services a $100 credit incentive this number is set to grow. 
Bulb has previously stated its ambitions to expand overseas with France and Spain other target markets.


Octopus purchases USA’s Evolve Energy

Octopus Energy has also launched into the US market by acquiring American energy supplier Evolve Energy.


The purchase of the supplier is reported to have cost $5 million and is its first foray into the massive US market. Octopus has grown rapidly since its launch and has acquired over 1.7 million UK customers.


Octopus has displayed its commitment to the US market by revealing its plans to invest $100 million into the USA and has set a target of gaining 25 million US customers on its technology platform by 2027 and by 2030 it hopes to have 100 million customers worldwide.


“Octopus Energy is inspirational in growing a customer base of over 1 million households in just four years. It matches our aspiration for innovation, and we’re thrilled to be part of the Octopus family. The US energy market is rapidly moving towards ultra-low-cost renewable energy and is prime for a true digital transformation,” said Evolve founder Michael Lee. 


Read more: Octopus Energy aiming high as it seeks to become the UK’s largest energy supplier

Further Reading

How can Energy Suppliers reduce Energy Billing Errors?


Renewables Obligation Mutualisation risks are growing


Government plans new tax on Gas suppliers to support its green energy drive


Dyball Associates are proud to help new supply businesses successfully launch in the UK market.

 

Between our energy market consultancy services and the software we’ve developed, we’re supporting new UK electricity and gas suppliers to get set up and start supplying.

 

For more information, get in contact with us today. 

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