What is Kraken in the Octopus Energy group?

Kraken is Octopus Energy’s cloud software that runs billing, customer service, and flexibility for energy suppliers. It supports more than 70 million contracted accounts globally. It is offered as SaaS to utilities and grid partners, aiming to cut cost-to-serve and improve service quality with real-time data.

How big is the Kraken Technologies stake sale?

Reports suggest Octopus Energy may sell 10–20% of Kraken. The deal pegs Kraken’s valuation between $8.65 billion and $10 billion. A minority sale would set a clear reference price for the platform and support growth investment without changing control of the business.

Will Octopus Energy customers in the UK notice changes?

Customers should not see day-to-day disruption. Over time, more investment in Kraken could mean quicker support, clearer bills, and smarter tariffs. Any supplier migrations to Kraken must be carefully managed, with service continuity and data accuracy meeting Ofgem standards to protect households and small businesses.

Is an IPO for Kraken or Octopus Energy likely soon?

There is no confirmed IPO timetable. The current focus appears to be a minority stake sale and the Octopus Energy demerger process. A clean separation can make future listings easier, but any IPO would depend on market conditions, growth metrics, and sustained enterprise deal momentum.

Global Market Insights

Octopus Energy December 30: Kraken stake sale pegs value up to $10bn

ByHuzaifa Zahoor December 30, 2025December 30, 2025

Octopus Energy is preparing a sale of a 10–20% stake in its Kraken software arm at an $8.65–$10bn valuation, with D1 Capital, Fidelity and Ontario Teachers said to be involved. Goldman Sachs is running the Octopus Energy demerger. The move highlights strong demand for energy SaaS and could reshape how UK utilities buy tech. With 70m+ contracted accounts, Kraken’s growth matters for investors tracking energy digitisation and stable subscription revenue in Britain.