Kraken extends reach into Australia through first-of-a-kind partnership with network owner

Kraken, the game-changing software platform originated by Octopus Energy in the UK, has extended its tentacles further into the Australian market through a new, first-of-its-kind partnership with distribution network Essential Energy.

The two companies announced on Tuesday that they had joined forces to modernise the way distribution network service providers (DNSPs) meet the needs of utilities and customers in an increasingly flexible and dynamic energy system.

The new deal extends Kraken’s reach in Australia beyond big-four gentailer Origin Energy, which holds a 23 per cent stake in Octopus Energy and uses Kraken to manage its millions of customer accounts.

Perhaps more significantly, though, the Essential Energy deal marks the launch of Kraken Distribution, which extends Kraken’s energy market reach beyond retail and generation and into the sphere of the network companies.

“It’s fantastic to welcome Essential Energy on board as we mark two hugely exciting milestones on our mission to revolutionise global utilities,” Kraken CEO Amid Orad said in a joint statement on Tuesday.

“We now serve grid operators, expanding our operating system to cover the entire energy value chain with a purpose-built distribution management platform.

“And our water business has expanded outside of the UK, taking its first steps on the international stage,” Orad adds, noting that Essential Energy’s water retail business, Essential Water is also adopting Kraken.

“And despite these two firsts, we are already live with the first customers of both in a matter of weeks”

For Essential Energy, which like other DNSPs around Australia is rethinking its role in the energy market – and pushing up against traditional boundaries – the partnership is about managing increasingly complex data and adapting tariff and pricing solutions to reflect changes in energy consumption. 

“Our innovative and modern customer-centric platform … will deliver an improved customer experience and significant operational efficiencies,” says Essential Energy CEO John Cleland.

“This partnership represents an incredible opportunity for Essential Energy to build industry leading software solutions with a global technology leader that can be utilised in new ways to benefit customers across the distribution sector globally as the energy transition continues.”